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Trump tax cut to have little impact on US wages

January 17, 2018 - 11:22 -- Admin

Goldman Sachs analyst Dann Struyven has taken a look at the impact of minimum wage increases and the GOP tax bill on wage growth – perhaps the most important factor in maintaining one’s standard of living as price inflation creeps ever-higher (the whole “wages keeping up with inflation” thing). Struyven concludes that short-term wage growth may be negligible outside of the leisure and

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Bank of Mum & Dad bigger than AMP, ME, Citi, HSBC

January 17, 2018 - 11:07 -- Admin

Via Martin North: The latest Digital Finance Analytics analysis shows that the number and value of loans made to First Time Buyers by the “Bank of Mum and Dad” has increased, to a total estimated at more than $20 billion, which places among the top 10 mortgage lenders. We use data from our household surveys

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Consumer sentiment firms

January 17, 2018 - 11:02 -- Admin

Via Westpac: Sentiment has continued to recover from the weakness seen in the September quarter last year, bolstered by a less threatening outlook for interest rates and improving confidence around the economy and jobs. While the mood is ‘cautiously optimistic’ rather than buoyant, this is the best monthly index read since late 2013 and the

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457 update moves to smash health, realty wages

January 17, 2018 - 10:55 -- Admin

Boofhead Dutton has released a 457 skilled visa update: Psychotherapists are about to see serious new competition despite this: The Department of Health had made a submission ahead of the 2016-17 review of the Skilled Occupation List, as it was then known, calling for psychotherapist to be removed and no longer open to foreign workers.

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Dick Smith attacks Chinese water at the Oz Open

January 17, 2018 - 10:21 -- Admin

Via Herald Sun: DICK Smith has criticised the Australian Open’s decision to sell bottled water from China, as a local brewery offered to supply water to the tournament in 2019. The Australian business entrepreneur described the move to sell water from overseas at an international tournament which is hosted in Melbourne as “bizarre”. He said

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Gottiboff misleads on gas crisis

January 17, 2018 - 10:04 -- Admin

Gottiboff is at it again today: There is a simple way to put eastern Australia on the track to much lower gas and power prices: appoint Peter Dutton as energy minister for a day. Australians, and particularly Victorians, are not being told the truth of how vast reserves of low cost gas are being concealed

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Macro Morning

January 17, 2018 - 09:51 -- Admin

By Chris Becker Yes, stocks do fall! Last night saw the return of US traders after a long weekend and they weren’t happy after realizing trajectories like this were for rockets, not stock markets. Oil prices dragged energy stocks and then industrials with them with very large intrasession ranges suggesting a big turnaround is afoot.

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Global market melt-up flames out

January 17, 2018 - 06:43 -- Admin

DXY firmed a touch last night but was hardly convincing: AUD stopped too: Against EMs it’s roughly stable: Gold firmed: Brent flamed out: As did base metals: Big miners were hammered: EM stocks eased: Junk too: US yields piled through 2% at the short end but the curve flattened: Bunds were bid: US stocks roared

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Capital Economics: Australian dollar headed for 70 cents

January 17, 2018 - 06:40 -- Admin

Via the excellent Paul Dales at the AFR: …while GDP growth may rise from about 2.2 per cent last year to 2.5 per cent this year, it will fall short of the consensus forecast of almost 3 per cent and leave Australia growing at much the same pace as the average OECD economy. This may

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Beginning of the end for Bitcoin

January 17, 2018 - 06:39 -- Admin

Crypto carnage last night as global regulators close in on the world’s first global pyramid scheme and bubble: BTC has broken support (if that even makes any sense): As China and Korea move to regulate and block it. I have absolutely no idea where it goes from here except to say that regulators are moving

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