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What will a debt ceiling fight hurt?

September 14, 2021 - 13:20 -- Admin

Goldman with the note: We estimate Congress will need to raise the debt limit by mid-October, though it is possible the Treasury might be able to operate under the current limit until late October. It is possible, though not likely, that the Treasury might be able to continue to make all scheduled payments until sometime

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ABS: Property prices surged 6.7% in June quarter

September 14, 2021 - 13:00 -- Admin

The Australian Bureau of Statistics (ABS) today released its property price indices for the June quarter, which registered explosive 6.7% growth across the combined capitals over the quarter and 16.8% growth year-on-year: The gains were broad-based with all capitals recording strong price growth over the quarter and year. The next table tracks price growth over

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Consumer confidence rebounds on NSW reopening plan

September 14, 2021 - 12:40 -- Admin

From ANZ: Confidence rebounds Consumer confidence jumped 3.1% last week, as the NSW government released its much anticipated “roadmap to freedom”, which sets out the plan for easing of restrictions once 70% of adults in the state have been fully vaccinated. Four out of the five subindices made significant gains. ‘Current financial conditions’ rose 2.0%,

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Next up: The coal crash

September 14, 2021 - 12:20 -- Admin

It’s been a wild few months for coal. We’ve gone from wallowing prices to record highs in the blink of an eye. But there are signs it’s coming to an end. Coking coal has been the craziest. As Chinese steel output has collapsed, coking coal has gone through the roof. This was always pretty stupid.

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Wall Street goes all-in on inflation

September 14, 2021 - 12:00 -- Admin

The smartest guys in the room are as undiversified this week as always. Stagflation is the mem dejour with BofA still leading that pack: H2 view: macro backdrop = higher inflation, hawkish central banks, weaker growth, i.e.stagflationary; investment backdrop = rising Rates,Regulation, Redistribution (3Rs–Chart 6) & peak Positioning, Policy, Profits (3Ps); investment returns = low/negativestock/credit

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Goldman won’t mention the ore

September 14, 2021 - 11:30 -- Admin

Clearly, Goldman Sachs is still too long commodities: Growing scarcity across physical markets. Since last October, policymaker and investor focus has remained on the vaccine-driven demand recovery from the deepest recession on record. Yet today, physical goods demand has reached such high levels — above pre-pandemic trends in all but oil — that the system

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NSW daily COVID cases continue to fall

September 14, 2021 - 11:18 -- Admin

NSW recorded 1,127 locally acquired COVID cases over the past 24 hours – the lowest number in nearly a fortnight: NSW recorded 1,127 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. pic.twitter.com/QS809aYxhy — NSW Health (@NSWHealth) September 14, 2021 Two people died with COVID over the past 24 hours:

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Coalition lauds virtuous JobKeeper waste

September 14, 2021 - 10:40 -- Admin

The AFR’s Joe Aston has continued his full fledged assault against the Morrison Government’s JobKeeper waste, which saw more than 150,000 companies that weren’t in trouble – many of them actually thriving – receive $13 billion worth of subsidies from taxpayers. On 12 September, Aston highlighted Treasurer Josh Frydenberg’s hypocrisy and contradictions in defending these

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Coalition sheds more housing affordability crocodile tears

September 14, 2021 - 10:20 -- Admin

Coalition MP Jason Falinski, who will chair the parliamentary inquiry into Housing Affordability and Supply, penned an article in The AFR lamenting the destruction of housing affordability across Australia and the need to boost housing supply: The Tax and Revenue Committee’s inquiry is our last and best chance to understand why in 1985, growth in

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Modelling: Berejiklian to deliver death for Christmas

September 14, 2021 - 10:00 -- Admin

Don’t blame me, I’m just the messenger: Modelling by a new scientific lobby group projects that NSW’s road map to reopening may lead to all the state’s intensive care unit beds being full for five weeks over Christmas and almost 1000 people dying from COVID-19. The modelling is the first release from OzSAGE, a group

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