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In the second quarter of last year, mainland China was the largest source of investment for approved residential property investment proposals. Both the number and value of transactions rose sharply compared with the previous quarter, according to data published by Australia’s Treasury last November.
What a difference a few months make. At the start of this year, investors were betting the Fed would reduce rates by as much as 1.5 percentage points this year. By the beginning of this week, markets were pricing in roughly half the amount of monetary easing.