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Despite appearances, Aussie foreign policy is beginning to make sense again

November 2, 2018 - 10:45 -- Admin

On the surface, Aussie foreign policy is in chaos with religious nutter Scott Morrison at war with everyone over Jeruslem, via the AFR: The uneasy peace between Malcolm Turnbull and Scott Morrison has been shattered with the former prime minister effectively branding his successor a liar. Mr Turnbull has taken issue with Mr Morrison after

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Desperate REA spins negative gearing rent lie

November 2, 2018 - 10:30 -- Admin

By Leith van Onselen REA Group chief economist, Nerida Conisbee, has claimed that Labor’s negative gearing policy would stop investment in homes and force-up rents: Ms Conisbee warned that given most rental housing was currently produced by mum and dad investors, drastic policy changes would have longer term impacts on rent prices and availability. “If people

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Caixin PMIs confirm China sag

November 2, 2018 - 10:15 -- Admin

Via Capital Economics: • The latest survey data, while not as bad as some feared, still paint a fairly downbeat picture. We expect the economy to weaken further in the coming months, triggering additional policy easing. • After slumping from 50.6 to 50.0 in September, the Caixin manufacturing PMI edged back up to 50.1 in

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Energy carteliers take a huge shit upon you

November 2, 2018 - 10:00 -- Admin

There is no way to sugar coat this so you’re getting it straight today. These guys are incorrigible, at the AFR: The chief executives of Origin Energy, AGL Energy and their smaller electricity retailing competitors look set to have a united and firm message for Energy Minister Angus Taylor at the “roundtable” he has convened

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Fossil fuels just love Mike Cannon-Brookes

November 2, 2018 - 09:45 -- Admin

Via AFR: Mike Cannon-Brookes’ campaign to reclaim the phrase “fair dinkum power” from Prime Minister Scott Morrison has been swamped with offers of support, and the Atlassian billionaire is in the process of registering a trademark for a logo to promote renewable energy. Mr Cannon-Brookes said he had had hundreds of tweets and emails expressing

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NAB moves to aggressively hike mortgage rates

November 2, 2018 - 09:30 -- Admin

This is amusing stuff, at the AFR: The decision by NAB chief executive Andrew Thorburn to stop chasing new business with aggressive discounts and to reward loyal customers has put the bank in uncharted territory after delivering a result that revealed further deterioration in its net interest margin. …”The discount for the standard variable rate

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Daily iron ore price update (crunchtime)

November 2, 2018 - 09:15 -- Admin

Iron ore price for November 1, 2018: Spot down again. Paper and steel more. The Steel PMI actually held up well as building accelerates. There’s more of that ahead. We’re already seeing a bid new infrastructure push.  Property is an open question. They say it will reigned but so far it’s the opposite. The downdraft

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Macro Morning

November 2, 2018 - 08:00 -- Admin

By Chris Becker Reports of a potential Brexit deal, plus solid earnings by Apple overnight saw the risk sentiment shift higher, with the USD the main casualty. All the major currencies surged against King Dollar, particularly Aussie, while oil prices fell by nearly 2% on rising supply pressures. It looks like another risk positive day

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The great Australian recession cometh

November 2, 2018 - 06:52 -- Admin

JPM economist Sally Auld is class act: Recession-free Australia will find it hard to “duck and weave” the next global slowdown, says JPMorgan economist. Check back at 1:30 p.m. Sydney time for further panels: https://t.co/QlD3qlyS4s pic.twitter.com/1eECHhIzx5 — Bloomberg Australia (@BloombergAU) November 1, 2018 The writing is on the wall and after 28 years: -40% real

Is this the dumbest RBA ever?

November 2, 2018 - 00:20 -- Admin

Damien Boey at Credit Suisee has a few charts that suggest so: 1. Core inflation is disappointing, and moving further below the RBA’s target band. Depending on the measure, it lies somewhere between 1.7-1.8% in year-ended terms, below the previously reported 1.9%. 2. Compositionally, headline CPI was weighed down by childcare rebates and falling telecommunications costs. But

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