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EBA wages plunge again

January 16, 2018 - 00:19 -- Admin

Wages hopes have been hosed by new Enterprise Bargaining Agreements data:  The average annualised wage increase (AAWI) for federal enterprise agreements approved in the September quarter 2017 was 2.2 per cent, down from 2.6 per cent in the June quarter 2017 and down from 3.4 per cent in the September quarter 2016 – see

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What hope for energy price relief?

January 16, 2018 - 00:18 -- Admin

Some blah from Alinta today: Alinta Energy plans to aggres­sively drive down electricity prices and challenge the market muscle of the big three east coast power companies after finalising the $1.1 billion purchase of the Loy Yang B brown coal power station in Victoria. Alinta managing director Jeff Dimery, who is beefing up his coal exposure

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And now for some property security bans for business loans

January 16, 2018 - 00:15 -- Admin

Via the AFR: ING is banning the use of some residential property as security for commercial loans in the latest sign that lenders are growing nervous about the outlook for property price growth. Commercial loan borrowers will also have to provide case-by-case evidence of higher levels of equity in their residential property, a proven record

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Pascometer redlines on property crash

January 16, 2018 - 00:15 -- Admin

Weeoo, weeoo, weeoo. I’ve been pretty sanguine about the unfolding property correction. It’s another round of slow melt for now, plodding lower for years as Macroprudential 2.0 tightens then negative gearing is removed. With fiscal stimulus pouring out and the odd rate cut thrown in it’s manageable until we get another external shock at which

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Links 16 January 2018

January 16, 2018 - 00:10 -- Admin

Global Macro/Investing/Economics The World Bank says it will redo its competitiveness rankings after unfairly influencing them for years: Political motivations of World Bank staff may have influenced the changes, and Chile may have been a target – Business Insider A few good (wo)men – on the representation of women in economics – Bruegel Bitcoin Is Headed Lower –

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Daily iron ore price update (ports OMG)

January 16, 2018 - 00:05 -- Admin

Iron ore charts for January 15, 2017: Spot fell sharply. Paper firmed overnight on the plunging USD. Steel eased. No need to adjust your TV, ports stocks did rise another 4.83mt last week to an astonishing 152.83mt. I’ll simply render this nice chart which shows the correlation between the Chinese housing and iron ore inventory

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Macro Afternoon

January 15, 2018 - 17:07 -- Admin

So, the basic message out there in risk-land is: sell USD, buy everything else. Its a pretty simple meme that has a potentially large volatile payoff in the end for those willing to go long USD or short risk on very cheap risk premia…Anyway, stocks across Asia have rallied with Yen gaining against USD while

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The end of middle management

January 15, 2018 - 15:00 -- Admin

Cross posted from The Conversation: by Massimo Garbuio, Senior Lecturer, University of Sydney and Nidthida Lin Senior lecturer, University of Newcastle The trend of “flat” organisations is catching on at some of the world’s biggest companies. It’s easy to see the appeal when you think of a utopia where everyone in an organisation has a

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Fundie: Sell Bitcoin

January 15, 2018 - 14:21 -- Admin

So says fundie Michael Glennon: When I start to see retailers accepting bitcoin or utility companies accepting it then I will believe that it’s not just a quasi-ponzi scheme, selling something that has no value. It’s a currency that doesn’t do anything, is not backed by any sovereign nation, is not accepted anywhere, is hard

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