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Articles from MacroBusiness

Chinese developers abandon “dire” Australia

November 7, 2018 - 10:45 -- Admin

Wish me luck as I wave you goodbye! Via the AFR: Chinese developers are steering away from expensive inner city site purchases for apartment projects as they wait out the housing downturn and the uncertainty of next year’s federal election. At the height of the boom in and around 2013 to 2015, many Chinese developers

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Grattan: Don’t lift compulsory super rate

November 7, 2018 - 10:30 -- Admin

By Leith van Onselen The Grattan Institute has released a new report, entitled Money in retirement: more than enough, which challenges the conventional view that Australians don’t save enough for retirement, and explicitly recommends against lifting the compulsory superannuation guarantee from its current level of 9.5% to 12%: The vast majority of retirees today and in

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All hail the mighty redback

November 7, 2018 - 10:15 -- Admin

For those that view the CNY as a challenge to the USD in any conceivable time frame that matters: Pfft.

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MB versus Martin

November 7, 2018 - 10:00 -- Admin

We can’t both be right. The RBA’s monthly statement yesterday was bizarrely bullish. Via Bill Evans: The themes that have become familiar in previous statements were repeated in this one: continuing global expansion; China slowing a little; international trade uncertainty; positive business conditions; household consumption a source of uncertainty; labour market outlook positive; wages growth

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New Zealand unemployment dives to 3.9%

November 7, 2018 - 09:55 -- Admin

By Leith van Onselen Statistics New Zealand has released its labour force data for the September quarter, with the unemployment rate falling by 0.5% to 3.9%. This is the lowest unemployment rate since the June 2008 quarter when it was 3.8%. Below are the key points from the release: Unemployment rate fell to 3.9 percent.

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Labor savages Andrew’s Chinese secession

November 7, 2018 - 09:45 -- Admin

Via The Australian: Amid growing concerns over the strategic implications of Chinese President Xi Jinping’s signature foreign policy initiative, a number of federal Labor MPs told The Australian they were astonished the Andrews government had decided to break ranks with federal Labor to back the controversial initiative. “This must be stopped. Everyone knows that Andrews

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More El Nino

November 7, 2018 - 09:30 -- Admin

From John Kemp: Full report.

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Macquarie slashes house price outlook

November 7, 2018 - 09:15 -- Admin

Joining the bearish end of the market is Macquarie: We now expect national dwelling prices to fall for at least another 12 months, with a peak-to-trough correction of around 10 per cent. We expect prices in Sydney and Melbourne to fall by 15-20 per cent. We feel the decline under way is a housing correction

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Daily iron ore price update (peak)

November 7, 2018 - 09:00 -- Admin

Iron ore prices for November 6, 2018: Spot flat. Paper down. Steel down. Port stocks down to 141.65mt. We appear to be entering the Q4 correction now, delayed by stimulus hopes. They appear to be a little ahead of the curve given the PMIs: Infrastructure is being rolled out to offset industrial production. But only

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Australian dollar catches a dose of RBA stupid

November 7, 2018 - 08:48 -- Admin

DXY was flat last night. EUR and CNY similar: AUD caught a dose of RBA stupid: Gold fell: Oil fell: Base metals fell: Big miners fell: Junk was firm: Treasuries sold Bunds less: Stocks ground out more recovery: Westpac has the wrap: Market Wrap Global market sentiment: Risk sentiment was moderately firm ahead of the

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