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Weekend Reading: 15-16 December 2018

December 15, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: Dr. Elon & Mr. Musk: Life Inside Tesla’s Production Hell – Wired Economists See U.S.-China Trade War as Biggest Threat in 2019 – WSJ Major German Stock Exchange to Launch Crypto Trading Platform – Coin Desk Another Hedge Fund Veteran Is Quitting a Brutal Market – Bloomberg Steep Decline

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Macro Afternoon

December 14, 2018 - 17:00 -- Admin

Not a positive way to finish the week here in Asia with a broad selloff due to the slowdown in Chinese economic data, with the Aussie and Kiwi falling alongside all the Yen crosses. As markets position for next week’s FOMC meeting, where expectations are for another rate rise, it’s caution across the board due

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John Adams: The establishment knows CRISIS is coming

December 14, 2018 - 16:43 -- Admin

Via John Adams, regular contributor to Martin North: Dear All, Economic Armageddon is no joke and if the past week has taught me something it is that warning the public of the coming economic peril comes at great risk to people like me. Only in the past month, I was approached by a leading national

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What to expect from asset markets in 2019

December 14, 2018 - 14:30 -- Admin

Via the excellent Bill Evans at Westpac today: What do our economic forecasts for 2019 mean for Investors? Our key economic themes are: Australian economy and markets • Growth in the Australian economy will slow in 2019 under the weight of political uncertainty; falling house prices; a contraction in residential construction; global volatility; and a

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UBS: Labor franking reform to boost buybacks

December 14, 2018 - 14:00 -- Admin

Via UBS: …Labor’s proposed franking ‘scale-back’ also makes the near-term return of excess franking credits more attractive. Figure4 ranks the franking balances of companies relative to market capitalisation in the ASX150. Among the large caps, BHP Group and Rio Tinto have already announced off-market buybacks. Our survey of UBS analysts highlights that Woolworths and Wesfarmers

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China is in trouble

December 14, 2018 - 13:37 -- Admin

The world’s second largest economy has problem. A big problem. Everything is slowing fast except the very thing that is wants to stop: building empty apartments! November data was bad. Industrial production slowed sharply to 5.4% and retail sales did as well to 8.1%. Fixed asset investment held up at 5.9%: Stunningly, floor space under

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ECB turns cautious

December 14, 2018 - 13:30 -- Admin

Via Westpac: At the December ECB meeting, the Governing Council confirmed the end of net asset purchases and repeated the forward guidance that key policy rates will remain on hold “at least through the summer of 2019, and in any case for as long as necessary”. In addition, they gave forward guidance on their reinvestment

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Scummo launches corrupt anti-corruption watchdog

December 14, 2018 - 13:00 -- Admin

Via Domain: The proposed CIC will be split in two. At the top tier, a ‘‘law enforcement division’’ will have powers roughly on par with the powerful NSW ICAC. Yet a federal Eddie Obeid would have nothing to fear from this body. Parliamentarians and their staff, along with most of the public service and government-owned

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Latest Labor MP’s China links exposed

December 14, 2018 - 12:30 -- Admin

Via The Australian: West Australian Labor MP Pierre Yang’s political mentor, influential Perth businessman Edward Zhang, is a member of five China-based organisations directly run by the Chinese Communist Party’s powerful United Front bureaucr­acy. …The Australian revealed last week that Mr Yang, the Mc­Gowan government’s upper-house whip, was a member of two pro-Beijing organisations that

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