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The amusing mis-pricing of Australian shares

May 1, 2017 - 10:06 -- Admin

From Morgan Stanley today: Newsflow and data for the ASX 200 is peaking over the next month. So with commodity linked earnings rolling, industrial outlooks being recalibrated and fiscal and monetary intentions updated, we look into the upcoming noise and break out what matters for markets. A Big Few Weeks for Markets: A run of

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Manufacturing PMI goes boom!

May 1, 2017 - 09:43 -- Admin

Some good news here:  Australian manufacturing continued its recent recovery in April with the Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI® ) climbing 1.7 points to 59.2 points (results above 50 indicate expansion with the distance from 50 points indicating the strength of expansion). This was the seventh consecutive month of

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Treasurer Morrison declares an end to the great Australian adjustment

May 1, 2017 - 06:10 -- Admin

Deary, deary me. Via the AFR today: Treasurer Scott Morrison says governments can build infrastructure projects more cheaply and effectively than the private sector, justifying the “good debt” focus of his second budget that next week will foreshadow a turning point to “better times” for Australian households. In a wide-ranging interview with The Australian Financial

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It’s not called “housing affordability”, it’s called a “bubble”

May 1, 2017 - 00:23 -- Admin

Some intense millennial bashing from The Australian’s Grace Collier over the weekend: Deary me, houses are expensive, are they? Oh snowflakes, cry me a river. …Want to live in the inner city of Melbourne? There is a studio apartment opposite Flinders Street Station on the market for $169,000. Want a house? Try leafy upper Ferntree

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Mass immigration grinds big cities to a halt

May 1, 2017 - 00:20 -- Admin

By Leith van Onselen Anyone that lives in Sydney or Melbourne will have experienced the crippling rise in congestion on our transport networks first hand. Morning and evening peaks now run for hours, traffic is forever thick on the weekends, and the time taken to travel from point A to point B now takes longer

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Budget to bash unemployed

May 1, 2017 - 00:13 -- Admin

By Leith van Onselen I read with some trepidation this morning that the Coalition Government might still be considering cracking down on so-called welfare ‘cheats’ that are accessing unemployment benefits without applying for jobs. From The Australian: More than 20,000 jobseekers are deliberately “gaming the system” by turning up to Centrelink appointme­nts just to get

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A lesson in post-bubble growth for Alan Kohler

May 1, 2017 - 00:13 -- Admin

At The Australian Alan Kohler sagely asks how Australia will grow once house prices stall: What’s needed is Goldilocks tax reform and fiscal stimulus in the US — not too much capital inflow into the US, but just enough to get everyone’s currency down a bit and stuff up Trump’s plan to make America great again at

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CoreLogic: Home values rise for 17th consecutive month

May 1, 2017 - 00:12 -- Admin

By Leith van Onselen CoreLogic’s dwelling price results are in for April, with a 0.17% rise in values recorded over the month at the 5-city level, driven by Melbourne (+0.50%), Brisbane (+0.61%) and Adelaide (+0.78%), more than offsetting the 0.96% decline recorded in Perth: It was the 17th consecutive monthly rise in home values: Over

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Auction clearances rise but volumes fall

May 1, 2017 - 00:10 -- Admin

CoreLogic released its auction report yesterday, which revealed another weekend of strong auction conditions, with the national auction clearance rate rising to 76.9% from 72.1% last weekend, well above the 69.4% recorded in the same weekend last year: However, auction volumes nationally (2,347) were below the same weekend last year (2,675). As shown above, Sydney’s

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Coalition goes ‘Back to the Future’ on FHB bribe

May 1, 2017 - 00:10 -- Admin

By Leith van Onselen History doesn’t repeat, but it sure does rhyme. Yesterday, the Daily Telegraph reported that the Turnbull Government would launch a scheme in the Budget that would allow aspiring first home buyers (FHBs) to salary sacrifice some of their pre-tax income into a special home saver account: Nine days out from the

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