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1.Market Observations, 8.Was Sticky

29 Jan 2016 (AFR) – Terms of trade slump mires budget outlook – Morrison already sweating MYEFO trade forecast

(29 January 2016, AFR, p3, by Jacob Greber)

‘Australia’s terms of trade look to be falling faster than the government forecast in its budget update just six weeks ago, raising the spectre of multi-billion dollar write-downs in projected revenue that would make it even harder for Treasurer Scott Morrison to balance the budget. Lower prices for iron ore, coal and liquefied natural gas accelerated a five-year-long plunge in the terms of trade in the December quarter.  ‘

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