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Wednesday, April 3, 2:04 AM Reserve Bank of Australia Governor Glenn Stevens has been reappointed for another three years ahead of the end of his first seven-year term in September. Since taking on the role in 2006, Stevens helped Australia avoid recession during the global slump of 2008-2009 and kept inflation in check. Stevens is "widely seen as a strong central bank governor from a global perspective," says former RBA economist Paul Bloxham. Comment! [Global & FX, Top Stories]
Tuesday, April 2, 2:53 AM As expected, the Reserve Bank of Australia has maintained its key interest rate unchanged at 3% for the third consecutive month, explaining that global growth is "forecast to be a little below average for a time, but the downside risks appear to be reduced." Employment expenses continue to contained "and businesses are focusing on lifting efficiency," the RBA said. "These trends should help to keep inflation low." (PR) 1 Comment [Global & FX, Top Stories]
Sunday, March 17, 5:46 AM Australia faces a "massive hit to government revenues" that "will inevitably continue to impact beyond the current year," says Treasurer Wayne Swan. The deficit increased a further A$4.6B ($4.8B) in the first four weeks of 2013 - above Swan's February estimate of A$2B - taking the total shortfall for the first seven months of the fiscal year to A$26.8B. 45 Comments [Global & FX]
Wednesday, March 6, 1:57 AM Australian GDP climbs 3.6% in 2012, representing the strongest growth since 2007 and one of the best performances in the developed world as rising exports and resource investment offset a slump in manufacturing and construction. In Q4, GDP slips to +0.6% Q/Q from +0.7% in Q3 and vs consensus of +0.6%. On year, Q4 GDP stays at 3.1% vs consensus of 3%. The Aussie is +0.3% vs the USD. (PR) Comment! [Global & FX, Top Stories]
Tuesday, March 5, 2:40 AM As expected, the Reserve Bank of Australia leaves its benchmark interest rate unchanged at 3% but says there is "scope to ease policy further" if necessary. "Tactically it pays the RBA to be dovish because it keeps monetary conditions loose, and should hold the Aussie dollar down somewhat," says HSBC economist Paul Bloxham. Still, the Aussie is +0.35% vs the USD. (PR) Comment! [Global & FX, Top Stories]
Thursday, May 17, 2012, 4:54 AM The weak Australian dollar makes Aussie bonds a buy, says UBS's Anne Anderson. Foreign demand for the high-yielding, AAA-rated bonds has surged to a record high as investors look for new safe havens, and those flows won't reverse anytime soon as investors have few other options. Comment! [Global & FX]
Thursday, May 3, 2012, 7:28 AM "The biggest bubble in recent history is heading for the mother of all hard landings," writes SocGen's Albert Edwards, tagging onto his bearish partner-in-crime Dylan Grice's analysis of Australia. Channeling Minsky, Edwards notes the lack of volatility in Oz's economy (no recession since 1991) leads to an excessive build-up in debt and a "bigger crash down the road." 1 Comment [Global & FX]
Tuesday, May 1, 2012, 10:59 AM Among Australia's troubles are banks that can't pass on RBA rate cuts (50 bp last night) because - reliant on overseas markets - the lenders' funding costs are on the rise. "Infatuation" with Oz's debt (foreign ownership gov't bonds is skying) may be propping up the aussie, writes Anthony Doyle, but not for much longer. FXA -0.7%. Comment! [Global & FX, Financials]
Tuesday, May 1, 2012, 6:50 AM The Australian dollar is hammered - off 1.1% against the greenback - after the RBA cut rates by a greater-than-expected 50 basis points overnight. The central bank's statement is notable for its emphasis on Europe, not China, as a threat to the Aussie economy. Sydney +0.8%. Comment! [Global & FX, On the Move]
Tuesday, May 1, 2012, 2:30 AM The Reserve Bank of Australia cuts its benchmark rate by a larger-than-expected 50 bps to 3.75%, as "economic conditions have been somewhat weaker than expected, while inflation has moderated." (RBA statement) Comment! [Global & FX, Top Stories]
Thursday, April 12, 2012, 2:07 AM Australian payrolls rose a larger-than-expected 44K in March. The jobless rate stayed at 5.2% compared with expectations for a rise to 5.3%. Aussie dollar +0.7% vs. USD. Comment! [Global & FX, On the Move]
Thursday, March 22, 2012, 9:41 AM China continues the process of internationalizing the yuan, signing a three-year deal with Australia that will enable the exchange of up to $31B in local currencies between the countries' central banks. The agreement adds to those that China has with a number of trading partners, including Hong Kong and Japan. (PR) Comment! [Global & FX]
Wednesday, March 7, 2012, 1:55 AM Australia's GDP climbed 0.4% in Q4, just half the 0.8% gain economists had expected, while Q3 was revised down to +0.8% from +1%. Year-on-year, the economy grew 2.3%. A housing slump deterred consumer spending and the report covers a period when the eurozone's crisis weighed on Asian demand for commodities. Comment! [Global & FX]
Thursday, January 19, 2012, 1:07 PM With safe-haven money pouring into German paper and driving 10-year yields well under 2%, Michael Johnston says beware of the Bund ETF (BUND), concluding it offers return-free risk. Instead, he says, have a look down under, where a couple of bond ETFs (AUD, AUNZ) offer yields north of 4%. Comment! [Global & FX, Quick Ideas]
Tuesday, December 20, 2011, 2:11 AM Minutes from the RBA's most recent meeting show the bank lowered its benchmark rate because of the “non-trivial possibility of a very sharp contraction” in Europe and had seen no “strong need” to reduce rates based on the domestic outlook. Aussie dollar +0.4% vs. the greenback. Comment! [Global & FX]
Tuesday, December 6, 2011, 2:44 AM Australia lowers its benchmark interest rate 25 bps to 4.25%, the first consecutive cut since 2009 (previously). RBA Governor Glenn Stevens says “financing conditions have become much more difficult, especially in Europe... This, together with precautionary behavior by firms and households, means that the likelihood of a further material slowing in global growth has increased." Comment! [Global & FX]

AUNZ WisdomTree Australian & New Zealand Debt ETF

AUNZ

WisdomTree Australian & New Zealand Debt ETF