How far down are house prices again? Via The Advisor: The second wave of out-of-cycle rate hikes has continued, with a non-major lender lifting its mortgage rates by up to 18 basis points. ME has announced it will increase its home loan interest rates for both new and existing borrowers by up to 18 basis
The post ME Bank joins the little bank rate hikes rush appeared first on MacroBusiness.
CoreLogic has released its first auction report for 2019, which reported another weak round of auctions on very low volumes. The preliminary national auction clearance rate was just 47.8%, way below the 62.0% recorded in the same weekend of last year: Auction volumes nationally were just 526 – well below the 790 recorded in the
The post Auctions crash rolls into 2019 appeared first on MacroBusiness.
Global Macro / Markets / Investing: Everything You Know About Global Order Is Wrong – Foreign Policy Google Employees Are Fighting With Executives Over Pay – Wired Resentment of the Wealthy Is Not a Policy – Bloomberg America Is Producing the Wrong Kind of Oil – Bloomberg Do not underestimate the risk of an iron
The post Links 4 February 2019 appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
Martin North on the former western hotspots in Sydney and Melbourne turned smoking property craters:
The post Western Sydney and Melbourne plunge into negative equity appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The lunatic RBA doesn’t want to cut interest rates. This is for two reasons that I can see: first, it thinks the Aussie economy is in good shape; second, it would rather hike to rebuild ammunition for the future. The first point is fast losing air. Australia’s fading growth drivers make it plain: credit growth
The post Lunatic RBA toys with the tipping point appeared first on MacroBusiness.
Jitterbugs, 1945, Weaver Hawkins, Art Gallery of NSW Markets Macro & Investing The Sorry State of the World Economy – Project-Syndicate, Basu Trump hails China trade talks progress and says he will meet Xi Jinping soon – Guardian China says Washington trade talks were ‘frank’ and made ‘important progress’ – SCMP Donald Trump hails
The post Weekend Links 2-3 February, 2019 appeared first on MacroBusiness.
Outside China it’s been a flat finish in the Asian session with most stock markets putting in scratch results as the US/China trade talks recommence. Currency markets are also sanguine although the Yuan has weakened for the first time this week leading into tonights NFP print. Chinese shares continue to move higher with the mainland
The post Macro Afternoon appeared first on MacroBusiness.
Hello Shanghai Accord! With the Fed in neutral, Barclays says China is next to cut, via Bloomie: “Existing measures are not sufficient to lower the financing costs of the real economy, in a down-cycle with rising credit risk and falling producer-price inflation,” the analysts led by Jian Chang wrote in a note. “Hence, lowering the
The post China readying rate cuts? appeared first on MacroBusiness.
Again great stuff from Damien Boey at Credit Suisse who has a much better grasp of the economy than does the lunatic RBA: By now, CPI, unemployment and RBA forecast downgrades are becoming old news … The Consensus view is that the RBA will moderately downgrade its forecasts, but not capitulate on its rate stance
The post Credit Suisse: The RBA must move to cut the cash rate appeared first on MacroBusiness.
The Aussie dollar took a bit of pain following the sagging Caixin China PMI: Bonds are bid: XJO is not: The iron ore rally has reached hysterical proportions. There will be no shortage of it this year as Rio Minas returns, Vale manages its spare capacity, the Pilbara pumps a bit more and China slows:
The post Weak China PMI slaps down Australian dollar appeared first on MacroBusiness.