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Manufacturing swoons in Australia, with the January PMI sliding to 40.2 from 44.3 in December....

Manufacturing swoons in Australia, with the January PMI sliding to 40.2 from 44.3 in December. New Orders led the way, diving 6.3 points to 39.4, and there's little letup in Input Prices, which continue to expand at 58.5. The news should refresh disappearing hopes for more rate cuts. The ASX 200 +0.9%, the aussie -0.2% to $1.0402.
Comments (4)
  • EWA is OZ!
    31 Jan 2013, 10:59 PM Reply Like
  • EWZ is NY stock based on many Company investments - the largest being Brazil Petrobas.
    1 Feb 2013, 12:18 AM Reply Like
  • This note had a positive spin to it....why?
    1 Feb 2013, 06:57 AM Reply Like
  • Agreed - that was a strange way to spin things, "refreshing hopes that the government will push people to borrow more." The positive result of course is that bond holders would get some price appreciation and it may turn around the economy if people spend more.
    The criticism I would have is that Blackrock ranks Australia as one of the safest places to lend to (safer than the U.S.) according to http://tinyurl.com/a4t... - the reason being that they are responsible by keeping low debt ratios to gdp and staying within their budget. It sounds to be against their nature to lower rates to push more borrowing.
    Maybe we can actually see what it looks like for an economy to bounce back organically.
    5 Feb 2013, 09:14 AM Reply Like
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