Is it all systems go on risk markets again? Not quite, but it seems that sanity may yet prevail with potential relief from the trade war, albeit speculative that Trump may pullback some of the announcements. Stocks across the region rallied from relief more than anything with the USD still mixed against the majors The
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Nice work from Martin North today: There is a chart doing the rounds courtesy for the CEC (an Australian Political Party, who is advocating the introduction of a Glass Steagall banking separation bill, and which is likely to tabled late June) which shows that the total value of financial derivatives in Australia is around $37 trillion dollars.
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Labor’s foreign policy and national security alternative looks like a complete dill today: The senior Labor MP on Federal Parliament’s peak security committee has sent a clear warning to China to drop its objections to new foreign interference laws, saying it is foolish to put Australia’s “back up against the wall” on the new powers.
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The old adage in investment markets is when everyone is bearish, you should be bullish. Can that be said of cryptocurrencies? Recently, the Bank for International Settlements – the central bank’s central bank – came out with a damning report into the market for “alternative” currencies, pointing to the major flaws of scaleability and trustworthiness
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AUD is flopping around under 0.74 cents this morning: Bonds are sold: XJO is at a new post-GFC high as threats rise everywhere: Dalian is off the lows: Big Iron is flat: Big Gas is up: Big Gold is up: A short squeeze has taken hold in the banks, the real driver: Big Realty is
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More evidence that the labour is softening at a good clip. Via DEEWR: Is that a sickening trend I see before me? Too early to say but not exactly powering…
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Via the ASX: Aqualand just got itself a captured realtor cheap as chips! The stock is up: Still wouldn’t buy it given the shakeout in housing.
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Via The Australian: Bill Shorten has taken a major political gamble ahead of the crucial Super Saturday by-elections by refusing to back the government’s $144 billion in personal income tax cuts and vowing to repeal the bulk of the package if the Coalition manages to legislate it. The Opposition Leader yesterday accelerated his class-war campaign
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From Westpac: • The six month annualised growth rate in the Westpac–Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative to trend three to nine months into the future, dropped from +0.83% in April to +0.11% in May. The Leading Index points to slowing growth over the second half of 2018.
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Via the ABC: As property prices in Australia have climbed over the past few years, thousands of Australians desperate to get a foothold on the property ladder have used interest-only loans. But the interest-only period on these loans doesn’t last forever. Over the next three years, interest-only loans worth a combined total of about $360
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