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, June 11, 2012

TD Securities: "Chinese trade data has a spring in its step...Good news for Australia"

Another objective assessment on China from TD (see also Goldman below):

The weekend data flow defied the pessimists, i.e. those that concluded that a collapse in activity/inflation must have been the driving force behind the ‘early’ PBoC 25bp cut in the deposit and loan rates last week...

Exports surged from 4.9%/yr to 15.3%/yr in May, and combined with the rebound in imports from 0.3%/yr to 12.7%/yr, saw the trade surplus stabilize at $18.7b...

Good news for Australia. After the narrowing of Australia’s trade deficit in April from -$A1.3b to -$A200m via a 3.3% export rebound, we see further improvement for May as Chinese imports of Australian goods rose even further (rising each month so far in 2012) and close to re-reaching record highs.