Good stuff here from Martin North: This very much reminds me of the 2003 Sydney bust. The west continues to fall as the east rebounds. This will lead to stagnation in time as the “move up ladder” stalls with western households trapped in negative equity. The difference this time is that in 2003 Sydney was
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From CoreLogic’s quarterly auction report: Over the 3 months to September 2019, the clearance rate across the combined capital cities came in at 69.9 per cent across 16,730 auctions, the strongest quarterly clearance rate seen since the June 2017 quarter (71.7 per cent). The weekly auction clearance rates have continued to improve over the September
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Via the excellent Damien Boey at Credit Suisse: Our proprietary measure of the Australian credit impulse has picked up to 5.6% annualized in August, from 4.9% in July, and 4.6% in June. Importantly, the credit impulse is well off the lows we saw at the end of 2018. Indeed, the impulse is running at its
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Treasurer Josh Frydenberg announced Monday an ACCC investigation into the banks not passing on interest rate cuts. I think the investigation will make a nice addition to ACCC’s bookshelf. They can file it next Rudd’s FuelWatch and Grocery Code of Conduct. The biggest question is whether the investigation is designed to be a distraction from
The post Why the banks are still a big, fat sell appeared first on MacroBusiness.
Texture from Reuters: Benchmark Dalian iron ore and coke futures slumped more than 2% in late trade on Monday following growing concerns about demand for the steelmaking raw materials, amid China’s renewed efforts to curb pollution by restricting steel mills operations. “Traders have been wary of the impact of ongoing restrictions on steel mills in
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DXY rebounded last night as EUR fell: The Australian dollar rolled over against DMs: EMs were even weaker: Gold has formed a downtrend: Oil reversed: And metals: Plus miners: And EM stocks: Junk did better: Bonds were mostly sold: Not Australia: Stocks held on grimly: Westpac has the evetn wrap: Event Wrap US NY (Empire)
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Thursday’s Lending to households and businesses release from the ABS revealed that total mortgage lending (excluding refinancings) rebounded strongly in August: As regular readers of MB will know, we consider the flow of housing and investor finance commitments to be premier indicators for dwelling value growth. This view is based on the incredibly strong historical
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Michael Sainsbury last week published an article in Crikey warning that Australia’s universities face an “escalating crisis” as international student enrolments begin to dry up: The Australian university education sector is facing an existential crisis; its reliance on China, for about 30% of crucial international student revenue, is finally turning sour. Chinese enrolments next year
An enterprising MB reader wrote to Prime Minister Scott Morrison to express anxieties about the national interest loyalties of Member for Chisholm, Glady’s Liu. Liu is on record lying about her senior memberships of Chinese Communist Party propaganda organisations, proudly declaring a fund raising record with dubious and very likely CCP cash, cynically misled the
The post What ScoMo tells average Aussies about “double agent” Gladys Liu appeared first on MacroBusiness.
We are proud to announce that MB Fund Super accounts now offer personal (Life and Total & Permanent Disability) insurance cover. You can select Life only, TPD only or Life with linked TPD cover. We have spent considerable time in choosing an insurance partner that offers a sound and reliable insurance solution for MB Fund clients.
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