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Sad and sorry ASX sinks back to 6000

January 19, 2018 - 12:12 -- Admin

It’s a sad and sorry ASX today sinking back to 6000: Dalian has opened down: Big Iron is soft: Big Gas is falling: Big Gold too: Bond yields are still near breakout: Leaving Big Ponzifier nowhere to hide: But Big Realty is up: Aussie dollar right on 80 cents depressing it all.

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Is the oil to gas switch making climate change worse?

January 19, 2018 - 12:11 -- Admin

Via Desmog: Over the past few years, natural gas has become the primary fuel that America uses to generate electricity, displacing the long-time king of fossil fuels, coal. In 2019, more than a third of America’s electrical supply will come from natural gas, with coal falling to a second-ranked 28 percent, the Energy Information Administration predicted this month, marking the growing

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15 bank inquiries and counting…

January 19, 2018 - 11:00 -- Admin

Via UBS: A never-ending story of inquiries, reviews and proceedings… While many regions around the world are seeing a push back against regulation in the banking industry, in Australia the banks continue to face significant headwinds. While the Financial System Inquiry (FSI) of 2014 has been completed and the banks are on a path to

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More notes on a falling USD

January 19, 2018 - 10:37 -- Admin

A couple of factors to mention that can be influential in sending DXY lower the very short term. The first via the ABC: The weak performance in US markets overnight was partly due to investors’ concerns about a potential government shutdown tomorrow. This could be averted if Republicans and Democrats in Congress can agree to

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Coalition can lay claim to strong jobs (and weak wages)

January 19, 2018 - 10:30 -- Admin

Do-nothing Malcolm is cock-a-hoop about his jobs boom: Prime Minister Malcolm Turnbull joined economists in hailing a booming labour market after data released Thursday showed the economy recorded its strongest year of jobs growth since the global financial crisis. “What a great jobs number today,” an ecstatic Mr Turnbull said, adding it was the “equal-longest run of

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Richo slams Fake Greens’ thought police

January 19, 2018 - 10:15 -- Admin

Via Richo today: There was a time when the Greens were all that their name suggests they should be. They were passionate about our environment and they fought really hard to protect Australia’s forests. I was proud to be their ally in the noble endeavour of protecting rainforests and old-growth forests. I placed more than

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2017 was the second hottest year in recorded history

January 19, 2018 - 10:00 -- Admin

Yes its getting hotter. From the Washington Post: The year was the second-hottest in recorded history, NASA said, while scientists from the National Oceanic and Atmospheric Administration reported 2017 was the third-warmest they have ever recorded. The two government agencies use different methodologies to calculate global temperatures, but by either standard, the 2017 results make the

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Do-nothing Malcolm plays deputy sheriff to China

January 19, 2018 - 09:30 -- Admin

Via the AFR: Prime Minister Malcolm Turnbull has moved early in the new year to mend relations with China, twice praising Beijing for its role in combating North Korea and saying he is now more positive over the resolution of territorial disputes in the region. “I note those sanctions [against North Korea] are being supported

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Macro Morning

January 19, 2018 - 09:25 -- Admin

By Chris Becker All the action overnight was in bond markets as US stocks vacillated over the potential US government shutdown. Treasury yields hit 2.6% – the so-called Uncle Point – with European sovereigns also advancing. European stocks did better overnight, except the FTSE as the USD retreated back from its very weak earlier advance.

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Tumbling apartment sales begin to bite

January 19, 2018 - 09:00 -- Admin

Via The Australian: “There is absolutely no question we have seen a considerable softening in the construction end of the residential apartment space,” Martin Monro, the managing director of listed construction company group Watpac, told The Australian yesterday. “The manipulation of interest rates would clearly impact the housing market … if people can’t see a possibility of

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