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Aussie bond rocket chars lost RBA

May 14, 2019 - 10:00 -- Admin

The bull market of the year keeps on giving with the long end of the curve on fire again and new all-time lows for yields: The curve is flattening as  the lunatic RBA falls back far behind reality: Spreads to the US have actually tightened a little thanks the Martin Place asylum: June/ July rate

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Newspoll: Labor going to win

May 14, 2019 - 09:45 -- Admin

The Australian won’t report the simple truth of its own poll so we turn to Via Mark the Ballot: Newspoll for 9-11 May (one week out from the only poll that matters) predicts the national two-party preferred (TPP) voting intention will be (wait for it) 49 per cent for the Coalition to 51 for Labor.

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Sydney property value losses crash through 15%

May 14, 2019 - 09:30 -- Admin

By Leith van Onselen CoreLogic’s daily house price index for 13 May, released yesterday, revealed that Sydney dwelling value losses have pushed through 15%: Melbourne’s housing losses have also punched through 11%: Quarterly value declines continue at a swift pace, running at 2.7% (Sydney) and 2.0% (Melbourne): Whereas annual losses are running at 11.1% (Sydney)

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Why the Chinese Communist Party is backing Labor

May 14, 2019 - 09:15 -- Admin

Via the AFR: China sees a potential change of government in Australia as a chance to reset the bilateral relationship, which soured under former prime minister Malcolm Turnbull as concerns around security overshadowed the economic benefits. …”We would like new government to overturn the previous ruling on banning Huawei. It requires political wisdom to achieve

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Macro Morning

May 14, 2019 - 09:00 -- Admin

By Chris Becker  It’s all tumbling down as the Chinese retaliate with tariffs of their own against Trump’s ill-timed tweetery. Wall Street fell around 3% across the board while bond yields fell, with safe havens soaring. Gold has breached $1300USD per ounce for the first time in two months, while Bitcoin is up nearly $1000

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Daily iron ore price update (place your stimulus bets)

May 14, 2019 - 09:00 -- Admin

Iron ore prices for May 13, 2019: Spot down. Paper up. Steel down. The paper market is placing its stimulus bets after the trade deal collapsed. Spot was not interested but will likely follow in due course. MOAR credit hitting the supply crunch is a juicy prospect. Though if the broader market correction gets out of

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Australian dollar closes at 3 year lows as stocks crash

May 14, 2019 - 06:32 -- Admin

DXY was firm as CNY tanked last night: The Australian dollar was belted against DMs, to three year closing lows versus the USD: It was also weak versus EMs: Gold jumped: Oil sagged despite Iran tensions: Metals were belted: And big miners. GLEN is in trouble: EM stocks were massacred: As junk gave in: Treasuries

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2 million grey migrants to give Australia economic schlerosis

May 14, 2019 - 00:15 -- Admin

By Leith van Onselen Melbourne University demography professor, Peter McDonald, delivered another stark warning yesterday that Labor’s crazy policy to allow migrant Australians to bring their parents to Australia will lead to 2 million elderly migrants drowning the nation in blue rinse, straining public services and infrastructure, and rapidly age the population. From The Australian:

Fake Labor warning on international student damage

May 14, 2019 - 00:12 -- Admin

The Australian Bureau of Statistics (ABS) yesterday released its short-term arrivals and departures data for March 2019, which posted new record highs for international students arrivals. As shown in the next chart, Australian education arrivals hit an all-time high 610,000 in the year to March, up a whopping 240,000 since September 2014: Separate quarterly data

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UBS: First home buyer grant won’t stop credit crunch

May 14, 2019 - 00:12 -- Admin

Via UBS’ George Theranou, who has been way out in front of all analysts on this for years: Proposed FHB Deposit Scheme doesn’t materially change our outlook The First Home Buyer Deposit Scheme proposed by the Government (& supported by Labor) potentially allows FHBs to purchase with deposits as low as 5% without paying LMI

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