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Daily iron ore price update (sense at last)

November 21, 2018 - 09:15 -- Admin

Iron ore prices for November 20, 2018:    Spot, paper and steel all smashed. There should be more to come. Via Vertical Group: Over the past week we’ve had the chance to speak, on the phone, with a number of steel traders in China (i.e., CRM + Tangsong + SY + Min Metals + Liaoning Dongya

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Hodl to zero

November 21, 2018 - 09:00 -- Admin

Good stuff! Hodl to zero. via the FT: Pressure is building on regulators to increase their oversight of cryptocurrencies following a $15bn crash in bitcoin and irregularities at one of the world’s largest virtual trading platforms. …Central banks and securities watchdogs around the world are contemplating how to rein in the industry, where billions of

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Macro Morning

November 21, 2018 - 08:55 -- Admin

By Chris Becker Dead cats are piling up on Wall Street, led by tech stocks with Apple down nearly 4% with European tech issues also pulling markets down across the Atlantic. Brent crude fell 7% with WTI crude not far behind, also acting as a headwind with energy stocks losing, while US Treasuries almost reverted

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Australian dollar crashes with oil

November 21, 2018 - 08:09 -- Admin

DXY roared back last night as risk off reigns. EUR and CNY fell: The Australian dollar was crushed across the board: Gold was hit: Oil was smashed again: Base metals fell: Big miners got off lightly: EM stocks were pounded: Junk plunged: Treasuries were a little bid and the curve flattened: Same for bunds: Nasdaq

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Phil Lowe speaks of trust with forked tongue

November 21, 2018 - 06:36 -- Admin

RBA Governor Phil Lowe last night: Thank you for the invitation to address CEDA’s annual dinner. It has become a tradition at these dinners for the Governor of the RBA to talk about how we secure Australia’s continued economic prosperity. I would like to continue that tradition tonight. My focus is going to be on

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Can Rudd Bank 2.0 save developers from crunched credit?

November 21, 2018 - 00:20 -- Admin

Via The Urban Developer: In residential property, the law of unintended consequences is hurting a significant number of property developers, driving some businesses to a grinding halt and others to the brink of failure. There’s a combination of factors at work here creating a perfect storm for developers: APRA’s Macro-Prudential Lending Guidelines The requirements of

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Ponzi Pallas’ ratwheel economy spins furiously while going backwards

November 21, 2018 - 00:15 -- Admin

By Leith van Onselen Late last week, Tim Colebatch wrote a nice dissection of Victoria’s economy, which is powering along due to unprecedented population growth: But both the infrastructure boom and the economic boom reflect the defining reality of Victoria now. The state’s population is growing at an unprecedented pace, mostly from overseas migration. And that

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As Victoria booms, Victorians go bust!

November 21, 2018 - 00:15 -- Admin

By Leith van Onselen Late last week, Tim Colebatch wrote a nice dissection of Victoria’s economy, which is powering along due to unprecedented population growth: But both the infrastructure boom and the economic boom reflect the defining reality of Victoria now. The state’s population is growing at an unprecedented pace, mostly from overseas migration. And that

The post As Victoria booms, Victorians go bust! appeared first on MacroBusiness.

HIA bawls at tiny immigration cut

November 21, 2018 - 00:10 -- Admin

By Leith van Onselen In the wake of last night’s token announced cut to immigration by Prime Minister Scott Morrison, the HIA has spat the dummy: “The economic growth over the past decade has been built on the back of strong growth in skilled migration. “This population growth has led to a boom in residential

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Maldives reverses out of China hegemony

November 21, 2018 - 00:05 -- Admin

Here’s a taste of what it’s like, via Bloomie: The Maldives is reportedly planning to pull out of a free trade agreement with China as the island nation moves closer to India and the West after Ibrahim Mohamed Solih won the presidency in a September election…As he took office Saturday, Solih declared that large-scale corruption

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