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MacroBusiness Friday, May 29, 2020 - 10:49 Source

The Australian dollar is hovering at the highs this morning even as S&P futures fall: Bonds are firm: XJO has gapped lower at the open: Big Iron is up: Big Gas down with oil’s struggles: Big Gold is warm as DXY softens: The Big Bank bid has run into a big reversal. The whole value

The post Bank bid blows up appeared first on MacroBusiness.

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Your Democracy Friday, May 29, 2020 - 10:42 Source

internet

US President Donald Trump says he is directing US Attorney General William Barr to work with states in an effort to enforce existing laws against so-called deceptive business practices of social media companies. 

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The Tally Room Friday, May 29, 2020 - 10:40 Source

The AEC has published its plan for how it will adapt the Eden-Monaro by-election to account for the COVID-19 pandemic.

Some of the stuff will be familiar to anyone who has visited any public place in recent months. Social distancing rules will be applied at polling places and the ballot draw, and hand sanitiser will be available when you turn up to vote. There will be limits on how many people can be inside each booth which will likely extend lines for voting.

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MacroBusiness Friday, May 29, 2020 - 10:30 Source

History doesn’t repeat but it sure does rhyme. In 2011, the Gillard Government agreed to pay Telstra $9 billion in instalments for its fixed line customers to migrate to the National Broadband Network (NBN). This decision was made, in part, to remedy the structural mess made by the Howard Government when it privatised Telstra in

The post Telstra divides and conquers NBN appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 10:15 Source

Cross-posted from ZeroHedge is a fabulous post gathering together the world’s great bears. Albert Edwards admits he is “perplexed.” Writing in his latest Global Strategy report, the SocGen strategist admits that “until recently (ie the last few days), I had thought that the 35%+ rally in the S&P from its 23 March 2190 low would

The post The Great Bears do the bear market rally appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 10:00 Source

The education lobby has been caught out exaggerating the collapse in international students, which according to Department of Education data, is actually not that large: Only about 121,000, or 20 per cent, of some 606,000 primary student visa holders were stranded outside Australia on 17 May… The figures, which have not been released publicly, show

The post Lies, damn lies and international students appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, May 29, 2020 - 09:48 Source

Spokesmodel Christian Porter has been all over the airwaves announcing the government’s latest…ummm….announcement, which is that they want everyone else to sort out the “known problems” in industrial relations and to do so, they will form not one, not two, but five new “working groups” to come up with recommendations to add to the kazillion…

The post Known problems appeared first on The AIM Network.

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MacroBusiness Friday, May 29, 2020 - 09:30 Source

Via Captial Economics: Growth for empty apartments and that’s all.

The post Chinese recovery slows to a crawl appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 09:00 Source

Iron ore prices for May 28, 2020: Brazil looks bad again: It could be bad enough to disrupt seasonal weakness.

The post Daily iron ore price update (still sick) appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 08:30 Source

By Chris Becker  The risk edifice continues to push higher, helped along by a reduction in continuing jobless claims in the US even though all the other economic markers show the world’s biggest economy in a deepening recession. Wall Street stumbled at the finish due to some Trump remarks with US Treasury yields rising slightly,

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, May 29, 2020 - 08:01 Source

statistics

Statistics, even in their crudest form of observation, can be brutal and manipulated to suit a social decision and help in the creation of myths. 

 

Claude Lévi-Strauss in The Structural Study of Myth, tells us:

 

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MacroBusiness Friday, May 29, 2020 - 07:42 Source

DXY was weak last night as EUR chases the fiscal package: Australian dollar was weak anyway: EMs were mixed: AUD/SPX correlation had an up day but is trending lower: Gold was firm: Oil too: Dirt is crushed: Except the red magic dirt. Anyone with that is flying: EM stocks are stalled: Junk is euphoric: Bonds

The post Australian dollar enters the MMT era appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 07:01 Source

Simon Reynolds, founder of The Fortune Institute, claims Australia is “heading for a small business disaster” and has called for further assistance from the federal government: “We are heading for a small business disaster”… “The government has offered them temporary money, but that will run out fast. “In biblical terms, the government is handing out

The post Australia “heading for small business disaster” appeared first on MacroBusiness.

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Poll Bludger Friday, May 29, 2020 - 05:41 Source

Newspoll offers a deep dive into its recent polling data, offering unprecedented detail on voting intention by income, education, language and religion, along with more familiar breakdowns by state.

The post Newspoll breakdowns broken down appeared first on The Poll Bludger.

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MacroBusiness Friday, May 29, 2020 - 00:10 Source

In the week ended 28 May 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.27%: It was the third consecutive weekly decline. The falls were driven by Sydney and Melbourne: Over the first four weeks of March, dwelling values have fallen by 0.44% at the

The post CoreLogic weekly house price update: Heavy falls appeared first on MacroBusiness.

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Renew Economy Friday, May 29, 2020 - 00:05 Source

Suntech's 9.47MW Robinvale solar farm – one of a growing number of 'small but smart' projects pitched at under 10MW – has been completed in Victoria's north west.

The post Suntech’s 9.4MW Robinvale solar farm completed in Victoria appeared first on RenewEconomy.

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MacroBusiness Friday, May 29, 2020 - 00:05 Source

The easing of lockdown restrictions has improved confidence in the Australian economy, according to the latest Melbourne Institute Survey of the Impact of COVID-19 in Australia, which contains responses from 1200 persons aged 18 years and over. However, 40% of survey respondents expect to be impacted for at least another six months and 28% are

The post Over one quarter of Aussies finally stressed from COVID-19 appeared first on MacroBusiness.

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MacroBusiness Friday, May 29, 2020 - 00:01 Source

Global Macro / Markets / Investing: Coronavirus pushes global credit rating downgrade threat to record high – Reuters Some 42% Of Jobs Lost In Pandemic Are Gone For Good – Forbes COVID-era junk bond deals begin to go sour in just 2 months – Reuters ‘The Top End of the Economy Will Be Fine …

The post Links 29 May 2020 appeared first on MacroBusiness.

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Renew Economy Friday, May 29, 2020 - 00:01 Source

Canva - Power station in Australia reflecting in the lake - optimised emissionsLatest quarterly emissions update shows emissions down thanks to renewables and drought, but increases from the gas sector are hindering faster progress.

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Club Troppo Thursday, May 28, 2020 - 21:20 Source

Let’s talk about some of the covid policy options facing Australia in the coming months and years. It seems to me we can either grasp the nettle and accept we will get a wave of highly visible covid-19 deaths before life returns to normal, or we can try and defend ourselves against any further wave and infections by quarantine rules, State border controls, immunity passports, tracer apps, and the like. The main cost of the latter is in the total collapse of several industries, as well as longer-term but less visible loss of life.

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Renew Economy Thursday, May 28, 2020 - 20:43 Source

rivian R1TIf uptake of EVs is to gain hold in Australia, they need to be fit for purpose - here's a list of what we should expect to see in coming years.

The post New electric vehicles that Australia needed yesterday appeared first on RenewEconomy.

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MacroBusiness Thursday, May 28, 2020 - 16:30 Source

A busy day in Asia with lots of economic reports confirming the impact the coronavirus is having on world economies, with the RBA all but ruling out negative interest rates as the local appetite for capital expenditure falls sharply. Despite the economic reality, the unrelated share market rally’s continue across the region, save for embattled

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Thursday, May 28, 2020 - 16:17 Source

Over the past few months we have looked several times at debt crises and how they are likely to be resolved. We had Dr Hail on to talk about MMT, we featured Ray Dalio’s solutions to debt crises and this week we hear the third option: Austrian economics. Jonathan Rochford will take to the podcast

The post MB Fund Podcast: Maybe more debt isn’t the answer? With Jonathan Rochford appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, May 28, 2020 - 16:13 Source

On May 25 2020, the Secretary of Prime Minister and Cabinet, (PM&C) Phil Gaetjens, the most senior public servant in government administration, made a written submission to the Senate Finance and Public Administration References Committee inquiry into Lessons to be learned in relation to the preparation and planning for, response to and recovery efforts following…

The post Lies, lies and more lies appeared first on The AIM Network.

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Renew Economy Thursday, May 28, 2020 - 15:03 Source

via Canva - solar panels and wind turbine with sunset on the hill concept idea clean energy - optimisedRegulator flags new "reliability" rules to affect wind and solar farms, as ESB considers tightening Australia's reliability standard to 99.9995 per cent.

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Renew Economy Thursday, May 28, 2020 - 14:54 Source

AEMC sets new rules to open up the option of stand alone power systems to remote and fringe-of-grid communities as network alternative.

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Renew Economy Thursday, May 28, 2020 - 14:41 Source

Sun Cable says the $20 billion solar and storage project planned for the Northern Territory likely to be just the first of many.

The post Sun Cable’s solar and battery mega-project may be first of many appeared first on RenewEconomy.

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The Australian Independent Media Network Thursday, May 28, 2020 - 14:36 Source

Now I’ve decided that there comes a time when one needs to put cynicism aside and get behind the leader. No, not to stab him in the back like they so often do in politics. Scott Morrison is proposing a JobMaker program and I think that’s something we should all be celebrating. Unlike JobSeeker where…

The post Scott Morrison Is My Leader And I’m Ambitious For Him! appeared first on The AIM Network.

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Renew Economy Thursday, May 28, 2020 - 14:25 Source

Europe unveils $A1.2 trillion Covid-19 recovery plan that has renewables and climate as the centrepiece, casting Australia even more starkly as a backwards-looking global laggard.

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Renew Economy Thursday, May 28, 2020 - 14:15 Source

psa car factoryFrance to jumpstart local auto industry decimated by Coronavirus pandemic with €8 billion plan including major boost for electric vehicles.

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