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."
Tuesday, September 4, 2012
CBA's summary of market reaction to RBA decision
Going into the 2:30pm RBA announcement, bonds had rallied as much as 6bp at the front end. The RBA’s optimistic statement triggered a sell off that reversed the rally (and a bit more)...markets had been expecting a shift towards a more explicitly dovish stance and were disappointed the RBA’s language changed so little. Short term IBs sold off, but the expected terminal rate was little changed...Markets will be looking for the Australian GDP data tomorrow to confirm the RBA’s characterisation of growth as “about trend”, before attention switches to the ECB’s 6 Sep meeting.