Down Under

Danger Down Under: Yields drop with iron to fuel recession talk

SYDNEY/TOKYO (June 2): Whether or not the land Down Under snaps its two-decade-long streak without a recession, a glance at the charts shows this past week has been a "septima horribilis" (to purloin and tweak from Queen Elizabeth II) for the world's 13th-largest economy. Iron ore is declining again amid worrying signs that China is wobbling, businesses are reluctant to borrow as they plan on cutting investment to a decade low.  An unexpected rebound in retail sales and soaring stock prices for Qantas were rare bright spots.

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