The tide is at a turning point

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When we look back over the last 12 months probably the most surprising aspect of the 2014 financial year is the fact that the status quo in markets has been maintained in terms of price action and money flows. Historically low government bonds and property yields, equity prices that continue to edge higher impervious to

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Transition of the Australian economy – What does it mean for rates and the dollar?

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For Sophisticated Investors Only Mining: How deep is the hole? Chart 1 shows that mining as a percentage of GDP is at record highs, although it has started to drop off. The rise in mining has resulted not only in mining capex rising as a percentage of GDP spending, but also that total capital spending

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2014: A transitional year for the iron ore and steel market

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The relationship between the supply of iron ore and steel consumption in China has been the dominant theme in the bulk commodity space for the past five years, as China’s population has begun the process of urbanisation. Significant investment has been made in infrastructure and housing, which has driven the considerable growth in demand for

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