Gunnamatta

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Links 12 April, 2016

Macro, Markets & Investing Panama Papers show tax avoidance like a ‘cancer’ – CNBC A bombshell is waiting to hit the US bond market – SCMP Taking the scalpel not the right solution for China’s steel woes – SCMP World’s poorest countries rocked by commodity slump and strong dollar – Guardian Yen’s surge against US

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Weekend Links 2-3 April, 2016

Policeman Floating in River, Sidney Nolan, 1964, Art Gallery of New South Wales China Standard & Poor’s cuts China, Hong Kong sovereign credit outlook to negative from stable – SCMP China’s forex regulator to limit risks as slowing growth, US interest rates raise spectre of currency fluctuations – SCMP Offshore yuan borrowing cost goes negative

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Links 30 March, 2016

Macro, Markets & Investing US Fed’s gift to corporate debt issuers in China – SCMP Global grain supply system shifting out of US – Nikkei Asian Review Resource investors need long-term view – Nikkei Asian Review Shareholders’ dividend lust kills animal spirits, says Citi – Fairfax Barclays Warns Commodities May Slump on `Rush for the

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Easter links March 25-28, 2016

Sydney Heads, 1865, Eugene von Guérard, Art Gallery of NSW …more to come…   China Chinese premier vows to stabilise the property market – SCMP ‘Skyrocketing’ debt at state firms among biggest challenges facing China’s economy – SCMP Shanghai Said to Be Nearing Purchase Curbs for Warming Property Market – Caixin China’s rust-belt city Shenyang may

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Weekend Links 19-20 March, 2016

Copperopolis-Mt Lyell, 1983, Jan Senbergs, National Gallery of Victoria   China Growth and reform in tug of war as Chinese leaders grapple with hard choices – SCMP Why US Fed’s latest stance on interest rate is good news for China – SCMP China Seeks to Avoid Mass Layoffs While Cutting Production – NY Times China’s

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MB Radio: The Negative Gearing Party Nears the End

With the advent of the ALP proposing to limit Negative Gearing of Residential Real Estate to new construction only, should it be successful at this year’s federal election, triggering a range of responses in the Australian political sphere and media, Gunnamatta spoke with Leith van Onselen and David Llewellyn-Smith about the effect of Negative Gearing

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MB Radio: Backing the Rort 100%

With the Government under mounting pressure to identify how it will attempt budget reform while supporting consumer spending Gunnamatta spoke with David Llewellyn-Smith and Leith van Onselen about how the Australian economy shapes up in the early months of 2016 and the major influences on how it will withstand the continued fall in Mining Capex, the

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Weekend Links 27-28 February, 2016

The Wasteland II, Jeffrey Smart, 1945, Art Gallery of NSW   China As China’s Economic Picture Turns Uglier, Beijing Applies Airbrush – NY Times The Chinese chronicle of a crash foretold – FT.com Chinese central bank chief hints at more stimulus for slowing economy – SCMP Banks, Regulators Confront Slippery Bills Trade – Caixin China

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Links 24 February, 2016

Macro, Markets & Investing HKEx to launch gold futures contracts denominated in yuan – SCMP Central bankers on the defensive as weird policy becomes even weirder – Guardian A New Breed of Trader on Wall Street: Coders With a Ph.D. – NY Times Trade pact’s e-commerce clauses are a game changer – Nikkei Asian Review

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Weekend Links 20-21 February, 2016

Harbinger, 1986, James Gleeson, National Gallery of Victoria ….I don’t know what has happened with ASX at the Close, so will go early, and add through the eve into tomorrow….    China China’s outbound property buying spree will continue – SCMP China’s Foreign Exchange Reserves Dwindling Rapidly – NY Times China Bears Say the Capital

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Weekend Links 13-14 February, 2016

Tug Boat in a Boat, 1956, John Perceval, National Gallery of Victoria China M&A: China’s world of debt – FT.com Overhauling China – Project-Syndicate China’s Crisis of Miscommunication – Project-Syndicate China’s Exchange-Rate Trap – Project-Syndicate, Eichengreen Pollution crisis is choking the Chinese economy – CNBC Medical Fees Proposal Jolts China’s Pensioners – Caixin China’s economic

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Weekend Links 23-24 January, 2016

Grace Cossington Smith, The Bridge in Building, 1930, NGA ….Small one this week, better late than never…..(I will be out of action for a month or so)   Macro, Markets & Investing China’s banking stress looms like Banquo’s Ghost in Davos – Telegraph, AEP Falling prices, tighter credit expose emerging economies’ vulnerabilities – Nikkei Asian

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Weekend links Jan. 16-17, 2016

Sunbathers, Albert Tucker, 1945, NGV China A Towering Chinese Debt Mountain Looms Over Markets – Bloomberg, Curran…superb read… China elites likely playing a bigger role in short selling yuan than foreign ‘crocodiles’ – SCMP China income inequality among world’s worst – FT.com China’s Capital Flight – Bloomberg China resorts to ‘nuclear strength’ weapons to defend

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Links 12 January, 2016

Markets Macro & Investing Offshore yuan borrowing rates spike – CNBC As China Sells Treasurys, Their Haven Status Erodes – WSJ Ratings Agencies Still Coming Up Short, Years After Crisis – NY Times Rand Faces More Manic Mondays as Japan Currency Romance Unwinds – Bloomberg…lot of manic currency action out there… Asia China’s central bank

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Weekend Links 9-10 January, 2016

Russell Drysdale, Road with Rocks, 1949, Art Gallery of NSW …more coming…   China As China transitions to a ‘new normal’, some financial, economic and political pain is inevitable – SCMP Yuan Seen Needing Bigger Depreciation for China to Reap Benefits – Bloomberg A New Economic Era for China Goes Off the Rails – NY

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Links 5 January, 2016

what a way to start the year…..Pass the popcorn, we are here Macro Markets & Investing End of China’s commodity boom spells pain for producers with no end in sight – Guardian Prepare for more bond tantrums in 2016, warns think-tank – Telegraph Fed’s new rate-hike tools passed key test, Fischer says – Reuters Preferential

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New Years Weekend 2016 Links, Jan 1, 2 & 3

Australian Home, 1993, Howard Arkley, Hamilton Art Gallery Happy New Year to All …the MacroBusiness Cup is on the way… China China Investment Corp retreats from Canada after mining, energy investments sour – Financial Post Fortune Lost: The short, brutal and costly ride of China Investment Corp. in Canada – Financial Post China suspends some yuan deals by

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Christmas & Boxing Day Links 2015

Eugene von Guerard, Bushfire, 1859, Art Gallery of Ballarat Merry Christmas all, Gunna   China With new Silk Road, Xi seeks to have all roads lead to Beijing – Nikkei Asian Review China growth seen slowing to 6.4% in 2016 – Nikkei Asian Review Beijing’s policies create gap between perception, reality – Nikkei Asian Review

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MB Radio 2015/16 review: No Plan B

With 2015 coming to a close amidst stronger than anticipated GDP and employment data, but with the MYEFO drawing veiled warnings from the ratings agencies about potential AAA implications, while prices for Australia’s major exports crash, Gunnamatta spoke with Leith van Onselen & David Llewellyn-Smith about how the Australian economy has fared throughout the year,

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Sunday Climate Change links 13 December, 2015

Drought impact, Spring 2015, Wimmera, Victoria (ABC) As you are probably becoming aware, 195 nations, including Australia have signed up overnight to a binding climate change agreement seeking to limit change to 1.5%.  Some relevant pieces (leading up to – some are from recent weeks and one is from earlier this year) to the event

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Weekend Links 12-13 December 2015

Ocean Blue, Lorne, Arthur Streeton, 1921, Geelong Art Gallery    China China to Track Renminbi Based on Basket of Currencies – NY Times…another way to devalue… China crackdown nets ex-Ping An Securities chief – SCMP Is China’s Warren Buffett, Guo Guangchang, under arrest? Trading of stocks suspended as Fosun chairman ‘uncontactable’ – SCMP Guo Guangchang,

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Weekend Links 5-6 December, 2015

Fred Williams, Lal-Lal Falls, 1976, Art Gallery NSW   China Xi Unveils $60 Billion Funding Pledge at South Africa Summit – Bloomberg Think tank calls for new steps to support the housing market – China Daily Top China Cop Targets Bankers After Putting Away Security Czar – Bloomberg True global status for yuan remains a distant prospect – Nikkei Asian Review China to Start

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Weekend Links 28-29 November, 2015

Port Phillip Heads China It’s Open Season on China’s Securities Firms as Probes Intensify – Bloomberg ‘Malicious short selling’ used as a weapon to attack metal short sellers – SCMP Mystery of the missing chairman: Guotai Junan case makes Western firms wary of Chinese bosses’ connections – SCMP Banks’ Total Value of Bad Loans Rises

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Links 25 November, 2015

Macro, Markets & Investing Harmless commodity crash accelerates as dollar soars – Telegraph, AEP Changing the financial order in Asia-Pacific – Nikkei Asian Review Steel stumbles to near record low as China demand cools – SCMP Hedge funds turn very bearish on U.S. crude – Reuters, John Kemp How the ‘great divorce’ between China and

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Weekend Links 21-22 November, 2015

The Nostalgia of the Infinite, Giorgio De Chirico, 1911   China China’s crackdown on underground banks uncovers illegal money transfers of more than US$125bn – SCMP…Australian RE agents may be able to help them find some of this…. Chinese Gov’t ‘Causes an Investment Gap with U.S.’ – Caixin Shadow Banking in China: A Morphing Target

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Links 14-15 November, 2015

China China banks face instability on shake-up of funding base – SCMP Chinese direct investment in US to top US$10 billion for third year in a row – SCMP Capital Flight From China: Why Investors Are Taking Their Money Elsewhere – IB Times China Doubles Margin Requirement for Stocks to Curb Leverage – Bloomberg China’s

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Links 12 November, 2015

Macro & Markets World energy watchdog fears 1970s oil crunch as Mid-East regains stranglehold – Telegraph, AEP ‘Too big to fail’ banks must hold 18% safe assets – Nikkei Asian Review Who’s behaving rationally in iron ore, steel? Everybody and nobody – Reuters, Clyde Russell IEA sees oil below $80, what could go wrong? –

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Weekend Links 7-8 November, 2015

More coming as time is available…….. China China grapples with strategic implications of TPP – Nikkei Asian Review Businesses struggle to deal with ‘new normal’ – Nikkei Asian Review China’s Intervention Lessons – Project-Syndicate Taiwan, China gear up for first-ever summit – Nikkei Asian Review China resumes initial public offerings after four-month break – SCMP

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Links 5 November, 2015

Macro & Markets VW Discloses New Emissions Problem, Involving Carbon Dioxide – NY Times No matter where in the world you look, bonds are flashing the same ominous signals – Financial Post China commodity outlook brightens, but beware caveats – Reuters, Clyde Russell Have commodities reached an inflection point? – Mineweb When a 127-Year-Old U.S. Industry

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Weekend Links Oct 31 – Nov 1, 2015

…More coming as I have time… China China has created a steel monster and now must tame it – Reuters, Home ‘Death’ of China futures trading amid tight limits and probe into short selling – SCMP China bad debt manager Huarong has mediocre start to Hong Kong trade – SCMP Not the time for a