Post Tagged with: "Australia"
Jim Chanos on China, Hong Kong and Australia
Famous shortseller Jim Chanos was in Hong Kong and Australia and reported back on what he saw to Bloomberg Television. Copy provided below including a link to the video
Chinese coal now costs over $150 per ton again – huge gap to Australian prices
The Ministry of Finance is pumping money like mad into the weakened Chinese financial sector, over 1 trillion yuan, in order to shore it up from the souring of loans from all of the malinvestment over the past few years. If the Chinese succeeded in engineering a soft landing, Andy Lees believes the record premium for Chinese coal would disappear as Australian coal prices started to play catch-up
Australia: There goes the neighbourhood
The last two days have seen the latest monthly data on credit growth in Australia from the RBA, and the latest quarterly data on house prices from the ABS. Together they confirm trends that I’ve identified on numerous occasions between the acceleration of mortgage debt and the change in house prices
Sketch of Week’s 6 Key Events and A Few Things to Monitor
Risk appetites returned in a big way in October, as equities, emerging markets, commodities and currencies all generally advanced and smartly so, recouping much of the ground lost in September. The events in the week ahead will likely set the tone for the month of November. They include three central bank meetings (RBA, Fed and ECB), two data points (UK Q3 GDP and US employment report) and the G20 summit
The World’s Supply and Demand for Coal
Coal prices are surging ahead even as most other commodities pull back, spurred on by expectations that metallurgical and thermal coal production will again fail to meet rising global demand this year. The result? Record profits for major coal producers like Xstrata, a surge in acquisitions from coal-hungry India, Chinese electricity shortages, and a raging carbon tax debate in Australia amid record investments in that country’s coal-heavy mining sector
Bill Gross: ‘Low policy rates represent an immediate threat to investment portfolios’
Bill Gross: Low policy rates and the increasing negative real yields that they engender as inflation accelerates represent an immediate threat to investment portfolios. Bond prices don’t necessarily have to go down for savers to get skunked during a process of “debt liquidation.” PIMCO advocates a renewed vigilance, stressing bond market “safe spread” alternatives available globally, including developing/emerging market debt at higher yields denominated in non-dollar currencies.
Coal News: Australia’s Carbon Tax Battle and How Natural Disasters Are Pushing Prices Up
Australia’s powerful coal industry is rocking the country’s political boat again. It was only 10 months ago that former Prime Minister Kevin Rudd lost his job over an emissions trading scheme that the mining industry opposed vehemently. Now his successor, Prime Minister Julia Gillard, is attempting to revisit the issue, and so far it is not going well
Houses most overvalued in Australia and Hong Kong, most undervalued in Japan
A few weeks ago, the Economist put out its quarterly gauge of house price values. Australia just beat out Hong Kong as the most overpriced market in the developed world, with an overvaluation of 56%. Japan was by far the most undervalued market, with an undervaluation of 35%. The only other housing markets that were
On The Irish Mess, The Australian Property Bet, and Other Links
I will be on RT TV America at 4PM ET talking about the economy for readers in North America. Tune in! The usual Fare Analyst in $100m property bet with Wall St guru | News | Business Spectator Keith Olbermann SUSPENDED From MSNBC Indefinitely Without Pay Why the Price of Gold Soared After the QE2
Eye of a Very Long Storm
If you’re reading this Salvo on the day it is posted, then you are likely holding your breath on a number of fronts: the outcome of the election tonight, the FOMC announcement tomorrow afternoon and the policy meetings of the Bank of England, European Central Bank and the Bank of Japan and the new jobs
Chart of the Day: Homes in Australia and Hong Kong overvalued, in Japan and Germany undervalued
This time last year, The Economist’s survey of global house prices was a sea of negative numbers. That was then. Of the 20 markets tracked in our latest survey, only four still posted year-on-year declines and only Ireland’s property catastrophe has worsened. Source: The Economist
RBA & BOJ Rate Decisions Surprise Markets
Highlights The US dollar rise yesterday looks like a one-day wonder, with the euro returning to the $1.38 area, sterling moving through yesterday’s highs and the Swiss franc at new record highs vs the greenback. The Australian dollar is under-performing following the Reserve Bank of Australia’s decision not to hike rates as had been widely