At first glance the latest June quarter construction figures look fantastic. The value of construction work increased by 9.3% over the quarter which is much higher than the 0.9% recorded in the March quarter or the 0.6% in December 2016. Compared to a year ago, June quarter construction was 6.8% higher, which is quite a jump from March’s 12 month growth rate of -5.5%. Bond yields jumped and it was...