Base metal prices are not supported by fundamentals, argues Foris, so any reduction in Chinese buying could generate a correction.
Commonwealth Bank has updated its views on the economic outlook for 2010, seeing Australia as a solid relative performer and the Aussie dollar as a beneficiary.
Demand remains fickle, but stainless steel producers have found they can raise prices without scaring away their customers.
The Australian economy is well placed to benefit as the global economy recovers, with infrastructure and housing dependent sectors the bet placed for gains, CommSec says.
Fannie Mae and Freddie Mac last night rolled out 125% loan-to-value mortgage refinancing.
ANZ Bank believes emerging Asian economies are unlikely to see a quick recovery in GDP growth.
Westpac’s model of leading indicators now suggests the Australian labour market will bottom out in the final quarter this year rather than 2010.
Finished goods inventories increased among Chinese manufacturers in June, reports CLSA. This is very unusual for the industry.
China’s Purchasing Managers’ Index recorded the smallest of the smallest gains possible in June. Let’s call it a draw.
Most brokers covering CSL are bullish on the stock, but Morgan Stanley offers some reasons why earnings could fall short of expectations.
