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  1. Foreign appetite for Aussie bonds starts to wane

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    March 10, 2019 by admin

    Foreign holdings of Australian government debt have slipped from record highs, sparking claims the overseas appetite for Aussie dollar assets may be waning.
    Nanjing Night Net

    Australia has become a haven for global capital in recent months, with foreign investors snapping up government bonds in record amounts, putting a key support under the dollar.

    However, an analysis of today’s balance of payment statistics by JP Morgan has found the increase in foreign holdings of government bonds during June was the smallest in three years.

    Overseas investors added $5.1 billion worth of government bonds to their portfolios in the June quarter, it found, which was the smallest increase since June 2009 – and not enough to keep pace with the issuance of debt.

    Because of this slowing, the share of the $245 billion in government debt that is held by foreigners has dipped from its record high of 79 per cent in the March quarter, to 77.5 per cent.

    JP Morgan interest rates strategist Sally Auld said it is too early to say the trend would last, but it appears the rush into Aussie bonds from central banks and sovereign wealth funds is slowing.

    “While one quarter is not enough to define a trend, we would argue that this is broadly consistent with the idea that much of the new reserve allocation by offshore central banks and sovereign wealth funds into $A fixed income is now in the past,” she said in a note.

    If there is indeed less foreign interest in buying government debt, Ms Auld said the Aussie dollar may lose some of its resilience against the US dollar.

    However, she noted that Australia was still one of a small group of AAA-rated economies with a stable outlook, and banks were also likely to seek out bonds as a relatively safe store of capital.

    This story Administrator ready to work first appeared on Nanjing Night Net.


  2. No land tax relief in budget: Newman

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    March 10, 2019 by admin

    There will be no relief from land tax in next week’s state budget, Premier Newman says.Premier Campbell Newman acknowledges Queensland land tax has increased too much in the past five years, but says there will be no relief in next week’s state budget.
    Nanjing Night Net

    Addressing a Property Council of Australia luncheon today, Mr Newman said the government could not provide relief on Queensland’s land tax surcharge when the state needed to borrow the equivalent of 20 per cent – $10 billion – of its annual turnover.

    However, he remained coy when asked about the possible extension of stamp duty concessions to Queenslanders buying house and land packages, saying that was a matter for Treasurer Tim Nicholls.

    “A whole range of government taxes, particularly the land tax, have gone up far too much in the last four or five years,” Mr Newman told the gathering of developers.

    “There will be no relief on land tax, but what I can promise you though is that the days of all these taxes doing that, you know sort of zooming up like that, are over.

    “We’re trying to get a hold of these things and level it off. Down the track, if we can provide relief on land tax, I tell you what, I’m the first person to propose those sorts of things.”

    The Property Council of Australia has called upon Treasurer Tim Nicholls to undertake a wide-ranging review of state stamp duty for off-the-plan residential sales and the land tax surcharge, in the hope the LNP’s first budget will reinvigorate the embattled sector.

    Property Council of Australia’s Queensland executive director Kathy Mac Dermott said the sector still bore an unfair proportion of the state’s tax burden, contributing 29 per cent, or $3.8 billion, of state taxation revenue.

    With the lifting of the government’s land tax surcharge seemingly off the table, Ms Mac Dermott said the industry remained hopeful stamp duty for off-the-plan residential sales would be scrapped.

    When asked about stamp duty concessions today Mr Newman remained coy.

    “Well that’s a good idea, I should talk to the Treasurer about that,” he said chuckling.

    “That Mr Nicholls, he’s pretty tough and he wouldn’t be happy if I said anything about his budget.”

    This story Administrator ready to work first appeared on Nanjing Night Net.


  3. Malthouse inches closer

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    March 10, 2019 by admin

    MICK Malthouse will decide whether to coach Carlton within a week.
    Nanjing Night Net

    Malthouse’s manager, Peter Sidwell, and Blues president Stephen Kernahan, chief executive Greg Swann and football operations boss Andrew McKay have officially opened discussions.

    ”Expect a decision over the next week,” Sidwell said yesterday.

    ”Discussions are expected over that time.”

    The Blues had also tested Paul Roos’ interest in what Swann yesterday said was ”plan B” but the 2005 Swans premiership coach last night said he had declined the overtures.

    ”I spoke to Stephen and explained why I couldn’t do it,” Roos told The Age.

    Roos has a son in year 12 next year and wants to remain in Sydney with his family.

    It is believed Malthouse is spending time at the moment assessing Carlton’s assistant coaches and what staff he would like to bring to the club if he were to agree to terms.

    Long-time friend Robert Wiley has emerged as a strong candidate to join Malthouse, his former Richmond premiership teammate, in a backroom role.

    Wiley was a runner with West Coast Eagles when Malthouse helped deliver premierships in 1992 and 1994 and works as a junior coach with the WAFL.

    Magpies football operations manager Geoff Walsh and director of sports science David Buttifant, two men who helped Malthouse win the 2010 flag when at Collingwood, have said they will remain with the Pies.

    The Blues are expected to offer Malthouse a three-year contract worth about $3 million.

    Speaking on the Blues’ weekly show, The Blue Print, Swann maintained the club had not approached Malthouse before deciding to end Brett Ratten’s tenure last week.

    ”Everybody is keen to say that it was a done deal – it wasn’t a done deal,” he said.

    Asked if the Blues had a contingency plan if Malthouse were to reject their offer, Swann said: ”Plan B was also to talk to Roosy. But we were also pretty confident we would get a senior, experienced premiership coach, which is really the criteria we are after.”

    Swann said Malthouse, 59, had made it clear through the year that he was still keen to coach. He has reaffirmed he still had the passion to coach in recent interviews.

    ”As I said before, even in discussions earlier in the year, even when he left his last job [at Collingwood], he had petrol in the tank, he wanted to coach again,” Swann said.

    ”Even when he talks to people at various functions, he made it known to anybody he spoke to that ‘I still have some petrol in the tank’.”

    ”We knew that he was still keen to coach.”

    Malthouse last night told Channel Seven that discussions with the Blues had been ”promising” and he was excited about the prospect of coaching the club.

    ”I have a clearer picture now of how the inner workings of the football department work at Carlton,” he said.

    Malthouse said he had also asked the Blues ”how far they are down the track with Travis Cloke. The answer was probably as clear as mud.”

    Swann said the Blues would be in the ”hunt” for Cloke should the power forward decide to leave the Magpies.

    He also confirmed the Blues would like to stage most, if not all, of their home matches at the MCG when their contract with Etihad Stadium expires after the 2014 campaign.

    This story Administrator ready to work first appeared on Nanjing Night Net.


  4. Flashing: why do they do it?

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    March 10, 2019 by admin

    A middle-aged man in red and black boxer shorts flashing young girls on Emerald Beach, in northern NSW.
    Nanjing Night Net

    A man aged in his 60s exposing himself in a discount store in Sydney’s west.

    A man in his early-30s wearing a fluoro work vest flashing two young girls as they walked past a park bench in Melbourne’s inner-west.

    A man flashing while riding a bike in a park north-west of Melbourne.

    Last month there was a spate of similar incidents of exposure, which forensic and clinical psychologist Georgina O’Donnell says is the most common form of illegal sexual behaviour.

    It is, she says, motivated by gratification from a stranger who does not consent.

    So what is behind this behaviour which has recently targeted both women and young children?

    Flashers, who can be men and women but are most often men in their adolescence and early adulthood, may have a sexual disorder called exhibitionism or paraphilia, characterised by having repeated urges to expose themselves to a stranger, Dr O’Donnell said.

    “Exhibitionism is defined by a pattern of sexual arousal which may be expressed in exhibitionistic behaviour,” Dr O’Donnell, from Hobart’s ForensiClinic, said.

    “Exhibitionistic behaviour by definition is non-contact, and there is usually no intention of further sexual behaviour towards the stranger.”

    There are many theories about what causes the urges, but generally people who flash do so because they find it arousing, Dr O’Donnell said.

    “Some people have a conscious desire to upset or shock the stranger, while others may fantasise that the stranger will become sexually aroused by their display.

    “Others are not aware of, or concerned about, the stranger’s response at all.”

    Women can also be diagnosed with exhibitionism, she said.

    “Female exhibitionistic acts may include habitually undressing at a window that can be seen by the public for the purpose of experiencing sexual gratification from the attention of onlookers.”

    Exhibitionist behaviour is illegal and in NSW obscene exposure carries a penalty of up to six months in jail.

    There were a total of 284 sexual offences in the category of indecent assault, acts of indecency and other sexual offences reported to police in inner-Sydney in 2011, according to the Bureau of Crime Statistics and Research.

    “Exhibitionistic acts may be perceived as a less serious nuisance act, however for some victims the behaviour can be very distressing and fear-evoking,” Dr O’Donnell said.

    After a man exposed himself to a young girl at a discount store in St Mary’s, in Sydney’s west, on August 4 local police warned parents to be vigilant.

    “It’s very important that parents properly supervise their children when visiting public places, like shopping centres, to ensure their safety and minimise the risk of this type of incident happening,” Crime Manager Detective Inspector Darryl Jobson said.

    This story Administrator ready to work first appeared on Nanjing Night Net.