The author has been described by News Ltd as an "iconoclast", "Svengali", a pollie's "economist muse", and "pungently accurate". Fairfax says he is a "Renaissance man" and "one of Australia’s most respected analysts." Stephen Koukoulas concludes that he is "85% right", and "would make a great Opposition leader." Terry McCrann claims the author thinks "‘nuance’ is a trendy village in the south of France", but can be "scintillating" when he thinks "clearly". The ACTU reckons he’s "an enigma wrapped in a Bloomberg terminal, wrapped in some apparently well-honed abs."

Monday, January 30, 2012

Australian credit default index at lowest level since end August 2011 (chart)

Apparently the RBA closely follows the ITraxx index for a real-time read on financial system stresses. Apparently the RBA cut rates in December because it was worried about financial system stresses and not the domestic economy. Apparently financial system risks are now at their lowest level since around the end of August last year, according to the ITraxx index. Ipso facto...