Stimulus coming
Thankfully a bit more news to get stuck into this week.
In the absence of anything else to talk about from the weekend, preliminary auction clearances rates continued to rise to 80 per cent across the capital cities, which was the highest result since 2017.
The strong result was driven mainly by Sydney (85 per cent) and Melbourne (80 per cent).
Economics guru Bill Evans of Westpac reported over the weekend that a further 50 basis points of interest rates cuts seem assured, with further stimulus beyond this perhaps to follow.
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Iron ore staged a temporary reprieve in closing up 4 per cent on Friday at $87.81/tonne (62% Fe Fines) following a somewhat brutal four weeks.
The correction should be seeing in some context, though.
The Federal Budget had assumed that the spot price would fall to finish March 2020 at just US$55/tonne, so prices and receipts at these levels are still filling up the government coffers rather nicely.
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Iron ore staged a temporary reprieve in closing up 4 per cent on Friday at $87.81/tonne (62% Fe Fines) following a somewhat brutal four weeks.
The correction should be seeing in some context, though.
The Federal Budget had assumed that the spot price would fall to finish March 2020 at just US$55/tonne, so prices and receipts at these levels are still filling up the government coffers rather nicely.
