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RBA Commodity Price Index – April 2010
The RBA published it’s commodity price index for April yesterday per the chart below (you can find the original release here): The index was up 15.1% for April in A$ terms – partially reflecting the...
View ArticleFinal verdict – RSPT a deeply flawed tax
After a couple of days ruminating on the new Resource Super Profits Tax (here and here), I’ve come to the conclusion that it is a deeply flawed structure. It is simply too complex in the...
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The great China commodity punt
It was a line in Niels Jensen’s article “The Commodities Con” (here) that got me thinking: Most commodities are in contango more often than not, effectively costing investors the spread between the...
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RBA Commodity price index (May10) – gold up, base metals down
The RBA released its monthly commodity price index for May10 yesterday (you’ll find it here). Perhaps surprisingly, the overall index was up. The fact that it continued to climb is partly a function...
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Chinese growth hormones and other performance enhancers
Australian equities have benefited from two major trends over the last couple of decades (casting aside the credit bubble on the grounds that it hurt). They are 1) the growth in our compulsory...
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Chinese leading indicators – past, present and future
Uncle Scrooge is scratching his head about what to think about China. On the one hand, we have the (glacially slow to market) OECD leading indicators that have been signalling a slowdown in China for...
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Commodity prices – the grotesque in the attic
Global industrial production is set to climb again – as it waddles after those cardigan wearing purchasing managers: The US has been leading the way – from the JP Morgan Global PMI Report report (here)...
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Commodities and the Chinese growth machine
Another month rolls by (Feb report here) and commodities still power on – the RBA published it’s monthly commodity index (here): The prices of Australia’s basket of commodity exports climbed higher...
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Australian fund managers – nervously long?
Caught up with a colleague who has just spent two weeks drinking coffee with portfolio managers around Australia – he is an economist by trade, it’s a perk of the profession. He noted that the only...
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Investors and commodity prices – the RBA talks its book
In its latest Bulletin, the RBA added its two-pence into the Central Bank piggy bank of analysis for the reasons for high commodity prices (here). They conclude: Commodity prices are currently both...
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