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Macro Afternoon

February 20, 2019 - 17:30 -- Admin

Asian stocks basically moved together today with solid gains across the region, save Australia as local stocks were pushed down by a higher domestic currency, while gold almost hit $1350USD per ounce. The Shanghai Composite is tracking well, up 0.2% to close at 2761 points as its bear market rally continues. The Hong Kong Hang Seng

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MB Fund Webinar – China Attacks! LIVE THURSDAY

February 20, 2019 - 15:34 -- Admin

This week’s LIVE webinar (12:30pm AEST, Thursday 21 Feb) – we explore the retaliation of China on a number of fronts. Join MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Tim Fuller as we bring you up to speed on the levers China can pull to exert influence on the

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Travel scandal spreads through Coalition

February 20, 2019 - 14:30 -- Admin

By Leith van Onselen Earlier this week, The SMH reported that Finance Minister Mathias Cormann was found to have received free flights for a family holiday to Singapore from Hello World – a company controlled by Liberal Party Treasurer Andrew Burnes – within weeks of the company winning a $1 billion contract from Cormann’s Finance Department.

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Piss weak wages growth about to tumble!

February 20, 2019 - 14:00 -- Admin

Via Damien Boey at Credit Suisse: In an article last year (“Desperately seeking wage inflation”, dated 20 February 2018), we introduced our proprietary wage tracker. Using data from the NAB business survey on labour costs, wage claims from enterprise bargaining agreements (EBAs), and male full-time equivalent employment as a share of the “active” labour force,

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Minack Australian recession call goes mainstream

February 20, 2019 - 13:30 -- Admin

Via the AFR, only a week late: The economy is at risk of a “doozy recession” as the housing downturn accelerates at an “alarming pace” weakening consumer sentiment, warns former Morgan Stanley global strategist Gerard Minack. Mr Minack, who is known for calling the global financial crisis, said a recession would drive cash rates to

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Desperate REA economist spins negative gearing rent lie

February 20, 2019 - 13:15 -- Admin

By Leith van Onselen REA Group chief economist, Nerida Conisbee, has falsely claimed that Labor’s negative gearing policy would stop investment in homes and force-up rents: “We’ve already kind of scared property investors off. They don’t like buying in falling markets. The sentiment has really slipped,” she said. “The challenge I think for the policy now

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Melbourne motorists gouged 10 more years of CityLink tolls

February 20, 2019 - 13:00 -- Admin

By Leith van Onselen In late 2017, the Victorian Labor Government completed a shady $6.7 billion deal with Transurban to build the West Gate Tunnel Project, which will see Transurban contribute $4.4 billion towards the cost in exchange motorists paying $15 billion in additional tolls on CityLink until 2045. Former Premier Jeff Kennett described the

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90-day mortgage arrears hit record high

February 20, 2019 - 12:45 -- Admin

But records are made to be broken. Via S&P: Australian Prime Home Loan Delinquencies Rose In December; 90-Plus Days Arrears Hit Record High MELBOURNE (S&P Global Ratings) Feb. 20, 2019–Australian prime home-loan  arrears rose in December, according to a recently published report by S&P  Global Ratings. The Standard & Poor’s Performance Index (SPIN) for Australian 

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Net long-term migrant arrivals highest in 4.5 years

February 20, 2019 - 12:30 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of December, which posted record annual permanent and long-term arrivals, as well as the highest net arrivals in 4 1/2 years. In the year to December 2018, there were 832,560 permanent and long-term arrivals into

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Treasury genius demands housing led recession

February 20, 2019 - 12:15 -- Admin

From Treasury genius Phil Gaetjens this morning: Treasury Secretary Philip Gaetjens has warned that “falling house prices could also cause consumer spending to be weaker than forecast” and said “care must be take” on mortgage broker reforms. Mr Gaetjens told an estimates committee that government needed to remain fiscally disciplined at a time where debt

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