This page has been archived and commenting is disabled.

Aussie Bonds Crushed After "Everything Is Awesome" Best October Job Gains Since 2007

Tyler Durden's picture




 

China must be fixed because 'seasonally-adjusted' Aussie full-time employment just surged 58,600 MoM (almost quadruple expectations of a 15k rise). This is the best monthly gain in jobs since September 2012 and best October since 2007 - which all makes perfect sense. The resultant bloodbath in Aussie bonds (3Y +13bps to 6 month highs is worst day since Jan 2014) is all too real however. The question is - will this "good news" be jawboned down by RBA in order to give them some easing room?

 

Aussie job gains explode...

 

The best October since 2007...

 

Crushing Aussie bonds...

 

 

Charts: bloomberg

 

- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Wed, 11/11/2015 - 20:53 | 6779686 knukles
knukles's picture

So on the one hand somebody's lying to be able to ease while somebody else is lying to be able to tighten.
Good on ya', mates!
And all the numbers in China are real.  And Jim Cramer is an asshole

Wed, 11/11/2015 - 21:21 | 6779822 The best Sun
The best Sun's picture

None of this matters.

Going nuclear will fix this according to our newly appointed government science spokeswhore.

Nothing to see here.

I smell something.

Thu, 11/12/2015 - 08:04 | 6781200 The best Sun
The best Sun's picture

That worked out so well for Fukushima.

And coal is sooooo expensive......wait!

Wed, 11/11/2015 - 20:56 | 6779699 Yen Cross
Yen Cross's picture

 The Australian dollar is going into the mid 60's.

 I'm short U.S. corporate debt. I'm also getting short MBS, and other risk paper.

 I'll never get paid back, but I have leverage, and that's important.

Wed, 11/11/2015 - 21:06 | 6779737 knukles
knukles's picture

Root for the bread lines! 

Wed, 11/11/2015 - 21:12 | 6779769 mijev
mijev's picture

" I'm short U.S. corporate debt. I'm also getting short MBS, and other risk paper."
YC some of this stuff is above my head but one day if you decide to explain the strategy/rationale I'd be interested.

Wed, 11/11/2015 - 21:28 | 6779857 Yen Cross
Yen Cross's picture

 I've shared my trades on multiple occasions. Do your own homework.

Wed, 11/11/2015 - 23:55 | 6780520 knukles
knukles's picture

That's one of my old favorites; "Do your own fuckin' homework."
Kudos.

Thu, 11/12/2015 - 00:39 | 6780652 mijev
mijev's picture

What I've found over the years is that the most effective way to "do your own homework" is to find someone who knows what they're talking about and ask questions. And then listen. And then do some more research. I'm not interested in following other people's investment advice but I like to know how their minds work and if I learn something new, even better. If they don't have the time to answer that's also perfectly fine. I have a lot of time on my hands now but I remember what it was like before. 

Wed, 11/11/2015 - 21:30 | 6779868 buzzsaw99
buzzsaw99's picture

yeah this might have something to do with the aud ;)

Wed, 11/11/2015 - 20:58 | 6779707 Glass Seagull
Glass Seagull's picture

 

 

Yup, because everybody knows that the Australian economy is in no way, shape or form dependent upon China's.

 

#Decoupling

#NewPMisfromGS

Wed, 11/11/2015 - 21:07 | 6779739 knukles
knukles's picture

#everybodyimportantisfromGS

Wed, 11/11/2015 - 20:59 | 6779708 mijev
mijev's picture

Australia's population is around 23M which is probably 7% of the US population. If their jobs created figures are coming in at one third to one half of US jobs created there's a serious issue someone's overlooking.

Wed, 11/11/2015 - 21:21 | 6779823 Aussiekiwi
Aussiekiwi's picture

That might be the third of Americans who have simply opted out of the work force, the US is so lucky that a third of the workforce is so rich they do not even have to bother working, what an awesome country.

Wed, 11/11/2015 - 22:39 | 6780213 hannah
hannah's picture

another third of the population is so rich (i.e. on welfare) they do not even have to bother with working....

Wed, 11/11/2015 - 21:33 | 6779878 Yen Cross
Yen Cross's picture

 Australia's population is closer to 26 million.

   Give us some practical ideas, how Australia can become internally dependant.

 I have a few ideas, because I'm invested in Australia.

Wed, 11/11/2015 - 22:00 | 6780016 mijev
mijev's picture

23.13m was the first hit I got on google although that's from 2013. I'm retired now so I don't do any investing that involves shorting unless it's part-day trading. I just use gold to offset the falling aussie$ and EM currencies and otherwise I invest in cheap airfares and rents around asia looking for a place to settle down. I like seeing where other people are putting their money but just to watch vicariously. My only concrete thoughts about australia involve shorting real estate which along with a falling aud could be interesting but again I'm just an observer.

Thu, 11/12/2015 - 05:57 | 6781082 JustUsChickensHere
JustUsChickensHere's picture

Retired? Looking for a place to settle?  .... watch out for health care - costs, availability and quality.  It becomes very important as you age.

Thu, 11/12/2015 - 03:37 | 6780965 TheSecondLaw
TheSecondLaw's picture

Do your own fucking homework.

Wed, 11/11/2015 - 21:04 | 6779729 Will To Live
Will To Live's picture

Stats don't lie. Gospel.

Wed, 11/11/2015 - 21:07 | 6779742 McCormick No. 9
McCormick No. 9's picture

Is it just me, or is the point here that better economic indicators, such as positive employment numbers, will drive up the cost of debt service, increasing default (defaltionary) risk and thus actually working to destroy the economy?

Yeah, I'm pretty sure that's what this article is trying to say.

 

Wed, 11/11/2015 - 21:18 | 6779800 TheBeatles
Wed, 11/11/2015 - 21:31 | 6779870 The best Sun
The best Sun's picture

Those silver  prices don't help if your local Aussie coin dealer had his shop fire bombed and was then refused the insurance pay out.(TRUE!)

Now I can buy online and leave a paper trail for later confiscation/theft or organise a boating accident.

I smell something.

Wed, 11/11/2015 - 22:04 | 6780048 tool
tool's picture

Did you get that email from The Perth Mint saying 1oz gold cast bars $20 over spot. I'm sure being government owned they won't help locate you later on when the confiscation starts.

Wed, 11/11/2015 - 22:14 | 6780096 tarabel
tarabel's picture

 

 

People need to understand the value of a good alibi constructed well in advance of any potential need for one.

Buy from any source you want. Then place an ad stating that you lost your job and will trade your coin collection for transmission work on your truck. Years later, you're covered with an untraceable yet fully documented story.

Wed, 11/11/2015 - 21:21 | 6779828 Omen IV
Omen IV's picture

Believing any government statement or statistic in the world affiliated with the USA is simply impossible

Wed, 11/11/2015 - 22:09 | 6780063 tarabel
tarabel's picture

 

 

Oh stop it.

All governments lie. In particular, they lie when the truth doesn't look so good.

In addition, they lie when the truth is okay just because they need to smooth out the kinks between the last lie and the next lie.

In summation, they all lie, lie, lie and none of them were formerly virtuous organizations that learned how to do it thanks to the malign influence of their evil old Uncle Sam.

It's absolutely instinctive and any statement which implies that only some governments lie is itself the exact sort of lie which they all specialize in. Every one of them.

Wed, 11/11/2015 - 21:59 | 6780011 Stormtrooper
Stormtrooper's picture

Those Australian miners who were making $250k driving trucks are adapting to $8/hr bartending/waiting jobs quickly, just like the oilfield workers in the U.S.  Gonna need a lot more of those positions to satisfy the thirst of the millions who no longer have any productive jobs.

Wed, 11/11/2015 - 22:44 | 6780247 mr speed
mr speed's picture

The statistics used by the Australian bureau of statistics are INTERNATIONAL. So what the yanks do we do. There have been many changes made recently to the way it is calculated;

http://www.abs.gov.au/ausstats/abs@.nsf/mf/6292.0   for example; if your 15 and over attending school and have a part time job your counted NOW. Conversely if your 15 and at school but DONT have a job well, your not unemployed cause your a schoolie. I'm unemployed and have not had an interview this month as yet so I am not in the Labour force apparently. Pretty much just more kicking the can down the road.

Heres the rocktober stats  http://www.abs.gov.au/ausstats/abs@.nsf/mf/6202.0  One thing I have noticed is more training organisations popping up. This could be because the government has put in place for young jobseekers either EARN or LEARN. So the donors who have training facilities cash in. Many situations like this happening. Soon we will need a certificate in walking so we can get a job as junkmail distributors walking the streets clogging up letter boxes.

 

 

Wed, 11/11/2015 - 23:59 | 6780535 Im possible
Im possible's picture

..... the gov. must have included the UBER drivers. And soon LYFT and the many other on-demand ride sharing co's.

Thu, 11/12/2015 - 03:28 | 6780954 peterk
peterk's picture

The stats are  a big con. Its a SETUP to ensure the  CREDIT CRUNCH the banking system is experiencing in stealth doesnt raise its ugly head in the media.

Remember the banks  raised rates independently a few weeks ago, not because of  regulations but because they cant sourc the capital required to  contnue the  ponzi lending scheme in the property market  at these low rates. They ORDERED higher rates, so to justify it all they conjoured up these strong labor stats. Now rates are being seen as a necessity to cool down the   overheatig economy ..  bollucks!

They just dont want to admit its a credit crunch.

I saw an industrial depression in heavy machinery article here at zerohedge recently. thats the outcome for this debt binged economy thats coming around the corner. nothing to do with  a strong labour market

Thu, 11/12/2015 - 07:10 | 6781137 Midnight Hour
Midnight Hour's picture

In Australia, if you work for one hour a week you are employed.

Thu, 11/12/2015 - 12:16 | 6782264 Amicus Curiae
Amicus Curiae's picture

sums up the govvy employees rather well ;-)

1hr worked 39 avoiding work

Do NOT follow this link or you will be banned from the site!