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MB Fund July Performance

August 18, 2018 - 07:04 -- Admin

July marked our first full year of live investment for the MB Fund. We started the year with a view that with Australia at the tail end of historic mining and housing booms, and the US in the middle of a tax-cut driven boom was that the best strategy was to invest heavily in offshore

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Weekend Reading: 18-19 August 2018

August 18, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: Elon Musk Confronts a Fateful Tweet and an ‘Excruciating’ Year – NY Times SEC Probes Tesla Over Model 3 Production Disclosures – WSJ To Get Ready for Robot Driving, Some Want to Reprogram Pedestrians – Bloomberg Leveraged Loans Not as Safe as They Once Were – WSJ CEO compensation

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Macro Afternoon

August 17, 2018 - 17:33 -- Admin

Asian markets finish a volatile week in a mixed state with Chinese bourses liming along while Japanese and Australian markets reacted positively to the strong Wall Street lead from overnight. The USD is also retreating slightly as technical levels come into play, with the Aussie dollar firming on Governor Lowe’s comments this afternoon in Parliament. The Shanghai

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ANZ: Australia dollar outlook bearish

August 17, 2018 - 15:08 -- Admin

Via ANZ today: The AUD, the NZD and emerging market (EM) FX all remain at the mercy of shifts in sentiment. And things don’t look pretty on that front. Each of the recent triggers (Turkey, weaker CNY, higher US rates, EM turmoil and geopolitics) are not big enough to drive sustained losses in markets, but

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Chris Joye turns bearish on house prices, banks

August 17, 2018 - 14:03 -- Admin

From Chris Joye today who ends his campaign for bank bonds: CoreLogic, the real estate index provider most frequently cited by the RBA, has released its suburb-level indices for the first time ever. These benchmarks scientifically revalue every property in the suburb each day based on the characteristics of those homes and the flow of incoming

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Hanson deals company tax cuts one final blow

August 17, 2018 - 13:41 -- Admin

By Leith van Onselen The Government has just issued the Parliament program for next week and has committed to a vote on the company tax legislation. With four cross-bench votes still required to pass the Senate, Pauline Hanson has dealt the legislation one final blow: Senator Hanson told Sky News she was taking a “balanced

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Phil Lowe welcomes falling house prices

August 17, 2018 - 13:23 -- Admin

By Leith van Onselen Below is RBA Governor Phil Lowe’s opening statement to the House of Representatives Standing Committee on Economics: Thank you for the opportunity to appear before the Committee today. These hearings are an important part of the accountability process for the Reserve Bank of Australia. As usual, my colleagues and I will do

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Luxury home prices are tanking

August 17, 2018 - 13:02 -- Admin

By Leith van Onselen CoreLogic’s tiered hedonic house price index has shown heavy falls at the top 25% of the housing market, especially in Sydney and Melbourne: Today, Chris Joye has written an article in The AFR claiming that luxury homes are getting smashed: Since the end of the 2003 housing boom, Palm Beach property

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The Kouk slams brain dead pro-mass immigration economists

August 17, 2018 - 12:30 -- Admin

By Leith van Onselen Finding an economist opposed to Australia’s mass immigration ‘Big Australia’ policy is a difficult task. There’s me, Judith Sloan, Ross Gittins, and now Stephen Koukoulas (aka ‘The Kouk’) who has penned an excellent article today as Business Insider: There are many instances where the dismal science of economics embarrasses itself with

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Gold miners smashed, banks rally as ASX climbs the wall of worry

August 17, 2018 - 12:18 -- Admin

AUD is still rallying with EM: Long end bonds are still breaking down while a deluded Phil Lowe holds up the short: ASX climbs the wall of worry: Dalian is soft: Big Iron is down again with FMG still in trouble: Big Gas is also toppy: Big Gold is breaking on DXY strength: Big Mortgage

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