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Daily iron ore price update (ignoring Dalian)

November 23, 2018 - 09:00 -- Admin

Iron ore prices for November 22, 2018: Spot down hard despite soaring paper. For once the physical market dynamics might actually dictate price to the Dalian nutters. Steel is still weak. Looks like there’s further downside ahead as there should be.

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ABS projections: Melbourne’s population to hit 10 million by 2066

November 23, 2018 - 00:20 -- Admin

By Leith van Onselen Twenty years ago, in 1998, the Australian Bureau of Statistics (ABS) forecast that Australia’s population would hit between 23.5 and 26.4 million by the year 2051. However, ever since that initial forecast 20 years ago, Australia’s population forecasts have been continually revised upwards as well as overshot, as noted by Bernard

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CoreLogic Weekly Australian house price update: crash time!

November 23, 2018 - 00:11 -- Admin

By Leith van Onselen In the week ended 22 November 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.27% – the biggest weekly decline of the past year: Values fell across all major markets, with Melbourne, Sydney and Perth tanking: So far in November, dwelling

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CoreLogic Weekly Australian house price update: crash time!

November 23, 2018 - 00:11 -- Admin

By Leith van Onselen In the week ended 22 November 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.27% – the biggest weekly decline of the past year: Values fell across all major markets, with Melbourne, Sydney and Perth tanking: So far in November, dwelling

The post CoreLogic Weekly Australian house price update: crash time! appeared first on MacroBusiness.

Giant Melbourne, Sydney economic suckholes swallow nation

November 23, 2018 - 00:10 -- Admin

By Leith van Onselen Last Friday, the Australian Bureau of Statistics (ABS) released its State Accounts for 2017-18, which contained some interesting data on the trade performance of Australia’s states and territories. The summary charts for Australia’s major states are provided below: And here’s the chart combining the above trade balances: What should be abundantly

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Links 23 November 2018

November 23, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: Texas Is About to Create OPEC’s Worst Nightmare – Bloomberg Real Time Economics: What Are Markets Telling Us About the Economy? – WSJ Jamie Dimon and Warren Buffett Have the Last Laugh on Bitcoin – Bloomberg These Traders Paid a 100% Premium for Bitcoin at the Market Top –

The post Links 23 November 2018 appeared first on MacroBusiness.

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Macro Afternoon

November 22, 2018 - 17:52 -- Admin

Asian stocks have been mixed throughout the session today as trading volume dries up in preparation for the US Thanksgiving holiday as risk sentiment remains fragile. The USD kept up the bid with the Aussie and Kiwi dollar pushed lower while Yen buyers stepped in slightly, not affecting Japanese shares. The Shanghai Composite is down a few

The post Macro Afternoon appeared first on MacroBusiness.

Australian dollar falls as Aussie bonds catch a bid

November 22, 2018 - 14:22 -- Admin

AUD is down during the day as ANZ shook up interest rate markets: Aussie bonds are well bid: XJO is off the canvas: Big Iron is mixed: Big Gas dead cat: Gold off: Big Bank dead cat: Big Realty dead cat: Just wait until the market wakes up to the RBA’s utter stupidity. Bonds to

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Bloxo’s five factors for a house price crash

November 22, 2018 - 14:02 -- Admin

Via Bloxo comes his housing risk case with five possible triggers for a price crash: One possible driver could be a further tightening of credit availability, possibly in response to recommendations from the banking Royal Commission, which are due to be announced in early 2019,…there is considerable uncertainty on this issue. [The] availability of finance

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ANZ gives up on rate hikes

November 22, 2018 - 13:46 -- Admin

Via ANZ: We have revised our housing price forecasts. Sydney and Melbourne, in particular, have been downgraded. The fall in Sydney housing prices is already the largest in many years. Prices are now 9% below the June 2017 peak, a larger correction than in 2010-11, 2008, 2004-05, 1994-95 and, by the end of this month,

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