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."

Thursday, May 31, 2012

Aussie Govt Bonds up 8% in 2012 already (chart)

Incredible capital gains on Aussie government bonds in 2012--this Bloomberg index is up 8% already in 2012...

CBA comments today:

"The ongoing mess in Spain is the source of a major risk off move in markets today. Overnight, reports suggested that the ECB aren’t comfortable with Spain’s re capitalisation plans for Bankia. That served to further fuel negative views on the nasty spiral that Spain faces: a weak European economic outlook, weak asset quality in banks and a perilous Government budget position. Against this backdrop, news on the Australian mining boom (capex data) was no match for this new chapter in the (AAA sovereign) bond boom. Credit and building approvals also failed to leave a mark on the market."