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Renew Economy Friday, February 26, 2021 - 14:49 Source

Metropolitan and regional installers of rooftop solar panels can expect an unannounced visit from SafeWork’s inspectors as the work health and safety regulator targets heightened risk associated with a boom in demand.

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Renew Economy Friday, February 26, 2021 - 14:36 Source

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Renew Economy Friday, February 26, 2021 - 14:26 Source

Construction of Pacific Hydro's Crowland's Wind FarmRenewable Energy Zones and large-scale storage added to the federal government's Infrastructure Priority List.

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MacroBusiness Friday, February 26, 2021 - 14:20 Source

Today’s credit aggregates data from the Reserve Bank of Australia reported an acceleration of mortgage growth; although it remained soft on a historical basis. CBA’s head of Australian economics, Gareth Aird, expects housing credit to remain low, eliminating the need for the Australian Prudential Regulatory Authority (APRA) to tighten macro-prudential curbs on mortgages: We expect

The post CBA: APRA won’t tighten mortgage screws in 2021 appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 14:00 Source

Earlier this week, the International Olympic Committee (IOC) named South East Queensland (SEQ) as its preferred host for the 2032 Olympic Games. It is believed the IOC could formally award SEQ the games as early as July. Queensland Premier Annastacia Palaszczuk says the IOC is impressed that it already has up to 90% of the needed

The post SEQ on track to land 2032 Olympics appeared first on MacroBusiness.

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Renew Economy Friday, February 26, 2021 - 13:49 Source

Redflow eyes big future for its next

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MacroBusiness Friday, February 26, 2021 - 13:40 Source

Last month, the Queensland Government hatched a plan to shift quarantine from Brisbane hotels to a regional mining camps in Gladstone and Toowoomba. However, Prime Minister Scott Morrison stupidly scuttled the plan claiming resources workers could become infected and thus hamper Australia’s economic recovery. Now Queensland has attempted to hold the federal government to ransom

The post QLD plays hard ball on hotel quarantine appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 13:20 Source

The Senate passed a motion yesterday attacking NBN Co for paying almost $78 million in pandemic bonuses in the second half of 2020, describing the payments as “excessive, unreasonable, and lacking in justification”. The motion passed 32 votes to 30, with Labor, the Greens, Centre Alliance, PHON and independent Senator Rex Patrick all backing it.

The post NBN greed lambasted by Senate appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 13:00 Source

Superannuation Minister Jane Hume has recently stated that super funds should be forced to offer new retirement income products so that retirees use more of their super rather than save it. According to The AFR, Treasurer Josh Frydenberg will echo these comments when he speaks to a retirement income forum today, saying that people should

The post Make retirees spend their super appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 12:40 Source

Sir Fomo McSpruikerson is an expatriate billionaire and proud proprietor of The Strayan, a vanity media project designed to boost his assets. Jacinda Ardern launches “Hugs for Houses” program amidst unaffordability crisis New Zealand Prime Minister Jacinda Ardern has launched a controversial new “Hugs for Housing” program, aimed at tackling the countries worsening house price

The post The Strayan: Australian Open booing a “positive” for Dan Andrews appeared first on MacroBusiness.

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Renew Economy Friday, February 26, 2021 - 12:34 Source

Hyundai Australia confirms it will recall electric Kona and Ioniq cars sold in Australia and replace their battery packs due to potential fire risk.

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MacroBusiness Friday, February 26, 2021 - 12:20 Source

The Reserve Bank of Australia (RBA) has released mortgage growth figures for January, which continued to strengthen on the back of owner-occupiers. Quarterly mortgage growth rose to 1.14% in January – the 6th consecutive monthly increase – and is now experiencing its strongest growth since September 2018 (see next chart). Owner-occupiers continue to lead the

The post Australian mortgage growth surges appeared first on MacroBusiness.

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Renew Economy Friday, February 26, 2021 - 12:00 Source

greenhouse gas emissions - optimisedAustralia's emissions begin to head back up in latest figures, as the Australian economy recovered from the symptoms of Covid-19.

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MacroBusiness Friday, February 26, 2021 - 12:00 Source

We noted this week that mortgage applications are now so hot that banks are unable to keep up and approval times are blowing out spectacularly. House prices are on the march too. FOMO is loosed and there is no prospect of higher interest rates for years. So freshly listed Liberty Financial is enjoying an unexpected

The post Liberty warns APRA property prices overheating appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 11:40 Source

Since the coronavirus pandemic struck last year, shutting Australia’s international border, we have heard incessant pleas from farmers to allow migrant fruit pickers into the country. We are told that without these migrant workers, fruit will shrivel on the vine and vegetables will rot on the fields, leaving farmers deeply out of pocket financially and

The post How to solve farm labour shortages appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 11:20 Source

On 1 April, Australia’s 1.3 million JobSeeker recipients will receive a $100 a fortnight reduction in their incomes. This is because the $150 a fortnight Coronavirus supplement will be abolished, replaced by a $50 a fortnight permanent increase in the JobSeeker allowance to a measly $44 a day. The changes will push the JobSeeker allowance

The post Coalition’s JobSeeker stinginess could cost 40,000 jobs appeared first on MacroBusiness.

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Renew Economy Friday, February 26, 2021 - 11:14 Source

Australia’s electricity market is unsustainable. Texas shows us why.

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MacroBusiness Friday, February 26, 2021 - 11:00 Source

Eliza Owen, Head of Research Australia at CoreLogic, has released new research examining the likely impact of the end-March withdrawal of the JobSeeker coronavirus supplement on Australia’s property markets. Owen provides a fairly sanguine assessment, noting that JobSeeker has already been tapered significantly since late September without any detrimental impact on the property market. To

The post Will axing of JobSeeker scuttle the property price boom? appeared first on MacroBusiness.

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THE BLOT REPORT Friday, February 26, 2021 - 10:53 Source

Craig Kelly has resigned from the Liberal Party, having handed his letter of resignation to Scott Morrison during a party room meeting. Kelly has said he will sit on the crossbench but will continue to vote with the government on legislation related to the budget, and on legislation to do with policies taken to the 2019 election1. Kelly has been damaging the government with his constant spruiking of hydroxychloroquine and Ivermectin as treatments for Covid-19. 

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MacroBusiness Friday, February 26, 2021 - 10:40 Source

Via Goldman: Home prices are rising at their fastest pace since 2013 but shelter inflation is low and falling (see Exhibit 1). Should we expect higher home prices, significant fiscal support, and a quick economic recovery to also produce above-trend rent growth? Or has the coronacrisis led to a more persistent divergence as households abandon

The post Goldman: “Urban flight” to continue appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 10:20 Source

One of the most notable aspects of the current property boom is the absence of investors. Despite the lowest mortgage rates on record, investor mortgage demand remains well below its 2015 peak while owner-occupier demand has surged to record high levels. This is illustrated clearly in the next chart, which tracks ABS data on new

The post Investors primed to pounce on Aussie property market appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 10:00 Source

Will the RBA target house prices? Sure it will. To push them higher. There is literally zero prospect of it doing anything else at this stage. And a negative probability of the Morrison Government following recent moves by New Zealand’s Ardern Government to force responsibility for house prices onto the RBNZ. The AFR is asking

The post Will the RBA target house prices like RBNZ? appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 09:40 Source

Iron ore prices rallied yesterday and more particularly steel prices. Paper followed overnight: This appears to have been a delayed reaction to yesterday’s news of steel cuts in Tangshan which, as I noted, usually sends the ferrous complex higher. Any widening of steel mill margins is bullishh for iron ore. Good news is now good

The post Daily iron ore price update (bad news is good news) appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 09:30 Source

The real action on overnight markets is not Gamestop shares or Bitcoin, but the international bond market, which spiked yet again as a weak Treasury auction overshadowed solid US economic news. Yields increased dramatically across the curve, with the bond selloff spilling over to Wall Street with 2-3% falls as shaky confidence previously soothed by

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 09:20 Source

More garbage from parliament today the Morrison Government sinks even deeper into the filth. The charade that the PM is above it all leads at The Australian: Scott Morrison has used official advice from the Australian Federal Police to set a new standard for his MPs, demanding they inform him of any criminal activity in

The post Filth piles up around Prime Minister Morrison appeared first on MacroBusiness.

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MacroBusiness Friday, February 26, 2021 - 09:00 Source

China’s trade war on itself via Australia has steadily worsened over the past year. It began with coal, shifted to barley, then moved quickly to lobsters and other rural products, followed by wine. A total of some $20bn in Australian exports to China annually. Yet none of these is a problem at the macro level.

The post Mirabile dictu: Beijing cuts cord on international students appeared first on MacroBusiness.

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Renew Economy Friday, February 26, 2021 - 08:56 Source

Alinta Wind Farm from Infigen Energy - optimisedIt's an exciting time for energy policy in Western Australia, but neither side has given clear answers to some crucial questions.

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Renew Economy Friday, February 26, 2021 - 08:47 Source

AusNet releases its preferred route for major new transmission link through Victoria to address "Rhombus

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Renew Economy Friday, February 26, 2021 - 08:41 Source

gas flare fracking victoria moratorium 2 - optimisedEurope's largest planned gas station has been scrapped, and a new report shows that clean is cheaper. It's bad news for Angus Taylor.

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MacroBusiness Friday, February 26, 2021 - 07:00 Source

What a business cycle this is. Juiced by virus amphetamines it is moving extraordinarily fast. Last year we had the crash down, the crash up, a depression, thumping stimulus and K-shaped recovery, a gold boom and bust on debasement, growth stock bubble and now bust plus value rotation, an alleged commodity super-cycle, and now, one

The post Taper tantrum 2.0 begins as markets catch hysteria virus appeared first on MacroBusiness.

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