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, September 10, 2012

China's $157 billion stimulus

From CBA:

China has approved 60 infrastructure projects valued at $157 billion. In response, the iron ore price jumped 2.2pct. On Sunday, China released data showing industrial production up 8.9pct in the year to August, the slowest pace in three years...

Base metal prices posted solid gains between 1.3 and 3.5pct on the London Metals Exchange on Friday. Copper rose the most after China approved a multibillion dollar infrastructure program. Over the week metal prices rose between 3.0 and 7.2pct. And the gold price posted solid gains in line with other commodities in response to a weaker US dollar. The December Comex gold futures price rose by US$34.90 an ounce to US$1,740.50 an ounce. Over the week gold rose by 3.1pct.