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Macro Morning

April 8, 2019 - 09:30 -- Admin

By Chris Becker  Stronger than expected US non-farm payrolls (employment) numbers on Friday night buoyed stocks across both sides of the Atlantic, while the USD firmed alongside bonds with Treasury yields falling across the curve. PM May asked for an extension to the Brexit debacle while backroom shenanigans keep Pound Sterling volatile and Asia-based traders

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Four Corners: China interfering with Australian sovereignty

April 8, 2019 - 09:30 -- Admin

Via the ABC: A local Sydney council bowed to pressure from the Chinese Government and banned an Australian-owned media company from sponsoring an event because it was critical of the Communist Party. A joint investigation by Four Corners, The Age and the Sydney Morning Herald obtained documents showing how Chinese consular officials issued at least

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IMF hits Aussie house price crash panic button

April 8, 2019 - 09:15 -- Admin

Via the AFR comes the IMF in an unusual break with the tradition of agreeing with whatever the locals say: Australia’s housing market contraction is worse than first thought, says a top IMF analyst, leaving the economy in what he called a “delicate situation” that boosts the need for faster infrastructure spending and even potential interest

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Scummo’s Budget polling bounce! Not!

April 8, 2019 - 09:00 -- Admin

Via The Australian: An exclusive Newspoll conducted for The Australian shows the Coalition’s primary vote has ­jumped ahead of Labor’s for the first time since Mr Morrison ­became Prime Minister. On a two-party-preferred basis, Bill Shorten’s opposition still holds an election-winning lead, 52 to 48 points, but the Coalition has engineered a four-point turnaround since

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Australian Disease enters fatal stage

April 8, 2019 - 00:20 -- Admin

Let’s reprise some vestigial Goldman Sachs analysis from 2016: A sharp turn in Australia’s national income dynamic, which we flagged in early August, now looks likely to move significantly higher following the spikes in coal and iron ore prices in the closing months of 2016. Although we expect prices to fall from current levels for these commodities,

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Nobel Prize laureate: World Economy a population “pyramid scheme”

April 8, 2019 - 00:15 -- Admin

By Leith van Onselen Nobel laureate, Steven Chu, has warned that the global economy is on an unsustainable footing, reliant on an ever-increasing population which he described as a population “pyramid” or “ponzi” scheme. From Forbes: “The world needs a new model of how to generate a rising standard of living that’s not dependent on

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Goldilocks US jobs sink Australian dollar

April 8, 2019 - 00:15 -- Admin

DXY was up, EUR and CNY down Friday night: EUR shorts are growing again at -99k but still not extreme: The Australian dollar was mostly down: CFTC net positioning  got even shorter at -57k: Gold held on: Oil climbed again despite a huge jump in the US rig count. Libya and Venezuala troubles are paramount: Metals fell: Miners

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Auctions bounce suggests “we’re coming out of the bottom”

April 8, 2019 - 00:10 -- Admin

CoreLogic released its preliminary auction report yesterday, which reported another weak clearance rate on soft volumes. The preliminary national auction clearance rate was just 57.2%, slightly above last week’s 56.8% but well below the 62.8% final clearance rate recorded in the same weekend of last year: Auction volumes nationally were 1,978, which was actually above

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Gas cartel destroys Coalition Government

April 8, 2019 - 00:08 -- Admin

Via Herald Sun: Baby Boomers, Millennials, mums and dads and every state and territory are united on one thing this election — cost of living is their number one issue. …After five years in power, the Coalition is likely to take a hit over cost of living issues given wage growth remains sluggish and households

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Links 8 April 2019

April 8, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: Lyft is threatening litigation against Morgan Stanley, accusing the firm of supporting short-selling – CNBC In the past 8 years more than 1/3 Cryptocurrency Exchanges have been ‘hacked’ with losses totalling over $1 Billion USD. – Powder Wall The World Economy Is A Pyramid Scheme, Steven Chu Says –

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