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Case-Shiller home price data for September showed home prices rose for the fifth straight month. The 20 city series rising 0.3% from August whilst the 10 city index rose 0.4%. The year over year comparisons continue to improve with the 20 city index down -9.4% from a year ago whilst the 10 city [...] Like a child deprived of it’s rattle, the Fed is now in full tantrum mode over Ron Paul’s bill to audit the Federal Reserve. The Fed’s argument is a simple one, that such a bill would threaten the institution’s independence. More specifically, that it would interfere with the Fed’s ability to implement monetary policy. [...] US Housing Starts fell -10.6% in October to a seasonally adjusted annual rate of 529,000. Starts have basically been tracking sideways for the past 4 months after rising off all time low in April. Building permits also fell in October down -4% to a SAAR of 552,000. Given the huge overhang of [...] Still catching up from last week. The latest Australian labour market data showed a net 24,500 jobs were added in October. However most of those jobs were of the part-time variety with only 2,900 full time jobs created. Despite a net addition of jobs, the unemployment rate rose 0.1% to 5.8% [...] Was away almost all of last week on business but did manage to catch a few things. In the three years that I’ve been a Pipe Networks (PWK) shareholder I couldn’t have been happier with management. However the latest proposal to sell the company to SOT for $6.30 a share, in my opinion [...] US non-farm payrolls fell a seasonally adjusted 190,000 in October whilst prior months had positive revisions. August was revised from -201k to -154k whilst September was revised from -263k to -219k. The 3 month moving average of monthly job losses fell below 200k for the first time since September 2008. Details of the [...] The ADP Employment Report for October showed a decline in private US payrolls of -203,000 whilst September was revised from a loss of -254k to -227k. As the chart above shows, The ADP report has been reasonably well correlated with and somewhat less volatile than the NFP data in recent months. Consensus estimates [...] PWK announced yet another capital raising today, this time issuing another 2.8 million shares or approximately a little less than 5% of the company. The company said the placement was to “provide part funding for the remaining obligations in relation to construction costs on PPC-1″. This was somewhat of a surprise since the [...] The price of Established Australian Homes rose 4.2% in 3Q09 according to a report released by the abs today. Melbourne led the gains with a rise of 4.7% in the September quarter closely followed by a 4.4% rise in Brisbane and a 4.3% rise in Sydney. The sharp upturn over the last 6 [...] With the exception of the Hang Seng and the Shanghai Composite global stock market indices fell in the month of October signalling the first month over month decline since February. Not even a better than expected earnings season and a 3.5% GDP number for the 3rd quarter could lift the markets higher indicating [...] |
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