UBS: Australia’s Housing Boom Is ‘Officially Over’

Melbourne-PropertyThe housing boom that has seen Australian home prices more than double since the turn of the century is “officially over,” after data showed prices now flatlining, UBS Group AG said.

National house prices were unchanged in October from September, while annual growth has slowed to 7 percent from more than 10 percent as recently as July, CoreLogic data released Wednesday showed. “There is now a persistent and sharp slowdown unfolding,” UBS economists led by George Tharenou said in a report. Learn more

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UBS: “An Unusual Number Of Known Unknowns” – These Are The Key Event Risks In June

One of the recurring concerns voiced by Bank of America’s Michael Hartnett is that with May now in the rearview mirror, we are entering “the event risk month” of June. Now it is UBS’ turn to reiterate the warning that June may see a spike in volatility due to “an unusual number of known unknowns.”

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Deutsche Bank Confirms Silver Market Manipulation In Legal Settlement, Agrees To Expose Other Banks

Deutsche Bank AG has reached settlements in lawsuits over allegations it manipulated gold and silver prices, lawyers for traders of the commodities said in court filings.

Attorneys for futures contract traders in two private lawsuits said in letters filed Wednesday and Thursday last week in Manhattan federal court, that the bank has executed term sheets and is negotiating final details for the accords.

The German financial firm also agreed to help the plaintiffs pursue similar claims against other banks as part of the settlements, according to the letters. Vincent Briganti and Robert Eisler, attorneys for traders in the silver-fixing lawsuit, said Deutsche Bank will turn over instant messages and other communications to help further their case. Financial terms of the settlements weren’t disclosed.

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