To see why Australia’s central bank has shifted its stance on home-lending curbs, look no further than Sydney’s inner city where a one-bedroom apartment sold at the weekend for 35 percent more than its last price in 2012. The 54-square-meter (581-square-foot) property in Surry Hills was purchased…
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Sydney Homes Costing More Than New York Spurs RBA Review
While Greek government yields (and political leaders) proclaim the troubled peripheral European nation is ‘recovering’, the risk of major political upheaval in Greece has not gone away ahead of next year’s presidential vote next year. As Reuters notes, under growing pressure from anti-bailout…
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60% Of Greeks Live At Or Below Poverty Levels
The dollar rose above 110 yen for the first time since 2008 before a private report that may show companies in the U.S. added more than 200,000 jobs for a sixth month, adding pressure on the Federal Reserve to tighten policy. The greenback also strengthened before official payrolls data due Oct. …
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Dollar Climbs Beyond 110 Yen Before Jobs; Aussie Drops on Retail
There has been a lot of action in G10 FX in recent months, with the strength of the Dollar perhaps the dominant theme and as the Dollar has risen, many are asking at what point US policy makers could begin to talk the currency weaker, over concern that the greenback is appreciating too much too fast…
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Goldman: What’s Next For USD, GBP, EUR? What Do Central Banks See?
If animals were stocks, the market would be crashing. The chart below shows the performance of an index that tracks global animal populations over time, much like the S&P 500 tracks shares of the biggest U.S. companies. The Global Living Planet Index, updated today by the World Wildlife Foundati…
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World’s Biggest Market Crashes and You Didn’t Even Know It
Home prices in Australia’s capitals rose only marginally in September, slowing after three straight months of strong gains, with five of eight cities recording falls in the month. The slowdown should actually be welcomed by the Reserve Bank of Australia (RBA)which recently has become concerned th…
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Australia home price growth slows, in relief to RBA
It is well appreciated that Chinese wages have risen markedly over the past few years. Inflation has also consistently run faster in China than in the US, Europe and Japan. Some have cited this as a factor behind China’s slowdown. From a competitive point of view, what really matters is unit l…
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Great Graphic: China’s Unit Labor Costs
September data from Markit/JMMA showed manufacturing output rising f or the second successive month, as both new orders and new export business remained in modest growth territory. Consequently, purchasing activity rose for the fourth successive month, with panellists commenting on higher pro…
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Japan manufacturing production grows at modest pace
China’s manufacturing activity stayed steady in September, with the official Purchasing Managers’ Index (PMI) coming in at 51.1, unchanged from August, data showed Wednesday. …
If a U.S. regulator has its way, Daniel Shak will soon have more time to focus on gambling at poker tables and none at all to spend betting on derivatives. Shak, founder of SHK Management LLC and a competitor in the World Series of Poker, has been sued by the Commodity Futures Trading Commission …
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Poker-Playing Hedge Fund Manager Sued Over Premature Bet
The U.S. dollar is still king of global currencies. The dollar made up 60.9 percent of foreign exchange reserves and was used in 42.1 percent of global payments. Some countries, though, contest how much influence the U.S. dollar really has. The term “exorbitant privilege,” coined by former French…
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The Dollar Is Still King
The Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) contracted for a second month in September. The index decreased by 0.8 points to 46.5 points this month (seasonally adjusted), indicating a mild contraction in conditions across the manufact…
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Australian PMI: Manufacturing Slows Further in September
The cross-currents of the global economy leave the world’s central banks confronting varied policy choices in the months ahead. The U.S. and U.K. recoveries finally have enough momentum for the Federal Reserve and Bank of England to anticipate raising raise short-term interest rates from record lows…
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Global Central Banking in 2014, a Third Quarter Update for 25 Economies
The US Federal Reserve has emphasized that its monetary policy will be determined by what economic indicators show. But it would require some extremely unlikely data to change the Fed’s implicit plan to end its purchases of long-term assets (so-called quantitative easing) in October 2014 and to…
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Why the Fed Will Go Faster
If you are one of the 50% of Americans who have money in the stock market, you probably wanted to reach for Benadryl at some point this month. The “September stock slump” came back with a vengeance in 2014. The S&P 500 finished the month down over 1.5%, its worst performance since January. The N…
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‘September slump’ strikes again
Bank of America Merrill Lynch remains a USD bulls noticing that yesterday’s short-term signs of USD stalling failed to materialize. Indeed, BofA thinks that as EUR/USD has fallen sharply, it is now on track to test the confluence of long-term support at 1.2470/1.2450. “This has been a pivo…
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EUR/USD: Into L/T Pivot; USD/JPY: Above 12yr T/Line Resistance – BofA Merrill
With the ECB meeting and US jobs data the key events of the week, it is understandable the August US trade balance, due out Friday, is not drawing much attention. However, the combination of the growth differentials, favoring the US, and the strong dollar lead to some concerns that trade will act…
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Trade and the Impact of the Stronger Dollar
The Securities and Exchange Commission today announced charges against two individuals for insider trading on a prominent hedge fund manager’s announcement that his hedge fund had formed a negative view of Herbalife Ltd. and taken a $1 billion short position in its securities. …
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SEC Charges Two with Insider Trading on Pershing Square’s Announcement on Herbalife
Here’s one sign that the cooling off for housing appreciation has become widespread: The hot San Francisco housing market actually saw home prices drop in July, marking the city’s weakest result since early 2012, according to data released Tuesday morning. Looking at a broader gauge of prices in …
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Even the hottest housing markets are starting to cool
Shortly after the markets close in the US on Tuesday, the latest round of Australian retail sales data will be released. …
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Australian Retail Sales Take the Stage
