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MacroBusiness Tuesday, October 22, 2019 - 09:40 Source

A chart fest for you. On growth, not so good: But less is more: On credit, not good for future growth either: Credit risk is on the march: Industry cares: But local governments don’t: And neither do foreign investors: No help from the external sector: The consumer is weak: Industry too, but better than the

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MacroBusiness Tuesday, October 22, 2019 - 09:20 Source

Credit Suisse has released its 2019 Global Wealth Report, which reveals that the recent housing bust has pushed Australia down the wealth rankings, falling from second place to fourth: According to Credit Suisse: Household wealth in Australia grew quickly between 2000 and 2012 in USD terms, except during 2008. The average annual growth rate of

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MacroBusiness Tuesday, October 22, 2019 - 09:00 Source

Texture from Argus: China’s steel sector profitability remained sluggish in the peak sales month of October as a slowing economy and high output rates pressured product prices. The average gross profit margin on rebar sales is around 200-400 yuan/t ($29-57/t) and up to Yn200/t for hot-rolled coil (HRC), with some HRC sellers barely breaking even

The post Daily iron ore price update (spot weakness) appeared first on MacroBusiness.

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THE BLOT REPORT Tuesday, October 22, 2019 - 08:52 Source

Prime Minister Scott
Morrison has been asked numerous times whether he tried to get his ‘mentor’,
Hillsong church ‘pastor’ Brian Houston an invitation to the Rose Garden soiree
at the White House, but each time he has refused to answer. The story was
initially reported in the US media (Wall Street Journal), but it took a while
for the Australian media to pick the story up. Initially Morrison stated that
he did not comment on gossip, but whenever else he has been asked, he has
refused to answer1. He has been asked by several journalists and by

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Grattan Blog Tuesday, October 22, 2019 - 07:57 Source

The private health insurance industry likes to warn Australians of a doomsday scenario. Don’t believe it.

read more Debunking a private health scare campaign

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MacroBusiness Tuesday, October 22, 2019 - 07:16 Source

DXY was a bit stronger last night as EUR fell: The Australian dollar didn’t care, bid higher versus DMs: And EMs: Gold was soft: Oil too: Metals were better: And big miners: Plus EM stocks: Junk spoiled the party: As Treasuries were sold: And bunds: Aussie bonds followed: Stocks still looked poised for breakout: Westpac

The post How far can the reflation rally carry the Australian dollar? appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 22, 2019 - 06:30 Source

By Chris Becker  The USD gained strength overnight, with equity markets moving higher in Europe and then dragging Wall Street along with it as Trump suggested/lied about a possible “new” deal with Chyna. The Brexit chaos continued however, with Pound Sterling falling back on a possible confirmation of a delay on the exit, but its

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 22, 2019 - 00:10 Source

The NSW Office of State Revenue has released stamp duty data to September, which reveals a massive $1.59 billion (25%) decline over the past year and a $2.58 billion (35%) decline since stamp duty receipts peaked in September 2017: The slump in stamp duty receipts follows a sharp 22% decline in property transfers in the

The post Stamp duty crash wipes $2.6b from NSW Budget appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 22, 2019 - 00:06 Source

The Joint Parliamentary Inquiry into efficacy of current regulation of Australian migration and education agents was released in February, which claimed “unscrupulous, unlawful and unethical” education agents were exploiting both international students and Australia’s visa system. Specifically, these agents were accused of deceiving students on migration pathways and work rights, in addition to pushing students

The post ‘Dodgy’ International student agents under fire from Australian Government appeared first on MacroBusiness.

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MacroBusiness Tuesday, October 22, 2019 - 00:01 Source

Global Macro / Markets / Investing: US Federal Reserve starts “quantitative easing forever” – WSWS Saudi Arabia’s Best Bet Is to Crash the Price of Oil – Bloomberg Brexit Deal Failure Will Rattle Markets … – Stock Market News Global economy: ‘we must do everything possible’ to avoid global ‘fracture’ caused by US-China tensions, urges

The post Links 22 October 2019 appeared first on MacroBusiness.

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Renew Economy Monday, October 21, 2019 - 20:28 Source

emissions increase power station coal stacksEnvironment department concedes Australia stands alone on Kyoto carryover units, and cannot name 'technology improvements' supposed to deliver big emissions reductions.

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The Australian Independent Media Network Monday, October 21, 2019 - 20:00 Source

By 2353NM   Those that demonstrated around the world for ‘Extinction Rebellion’ recently have certainly been making headlines. Pity it is for the wrong reasons. On an intellectual level, their point is sound — unless there is meaningful and urgent efforts across the world to mitigate climate change, there is an environmental (and by inference economic)…

The post Protest tactics matter appeared first on The AIM Network.

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The Australian Independent Media Network Monday, October 21, 2019 - 19:16 Source

Most of you probably saw Monday’s papers which contained words interrupted by large blocks of ink suggesting that the inbetween bits had been redacted. Of course, they hadn’t because if you read the printed words, they still made sense so the whole thing was a little contrived. Personally, I’m not sure that it was the…

The post Sometimes Even Censorship Doesn’t Help… appeared first on The AIM Network.

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Renew Economy Monday, October 21, 2019 - 18:04 Source

First Chinese-made electric vehicles heading to Australia, offering new competition in lower to middle price points.

The post Is Australia about to get its first Chinese electric vehicle? appeared first on RenewEconomy.

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Renew Economy Monday, October 21, 2019 - 17:57 Source

Sydney-based Fonzarelli unveils new electric scooter dubbed "Arthur" after the sitcom character from Happy Days.

The post Fonzarelli unveils entry-level electric scooter – “Arthur” appeared first on RenewEconomy.

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Renew Economy Monday, October 21, 2019 - 17:12 Source

Rooftop solar helps push operational demand to a new record low in the renewable state of South Australia.

The post Rooftop solar pushes South Australia grid demand to new record low appeared first on RenewEconomy.

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The Australian Independent Media Network Monday, October 21, 2019 - 16:03 Source

“I saw it happen an’ that’s how I knows it … and I know why it happened … an’ I’m sorry it didn’t happen a long time ago, back when they could’ve made something with it.” Swertzy took a drag on his cigarette again and settled into the chair outside the Sedan Post Office and…

The post Ted and Edie dance the Rumba appeared first on The AIM Network.

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MacroBusiness Monday, October 21, 2019 - 16:00 Source

A better than expected day on stock markets across Asia despite the poor lead from Wall Street on Friday night as the weakening in USD and co-ordinated volatility in currency markets abated on the Monday morning gap open. A lack of data throughout the session and later tonight is seeing some stability come back to

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, October 21, 2019 - 15:27 Source

Snowy hydro 2.0 tumut power station senate estimatesSnowy management defends Snowy 2.0 pumped hydro scheme, telling an estimates hearing the economics stack up and rejecting claims the project would affect the national park.

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Renew Economy Monday, October 21, 2019 - 15:05 Source

IEA data smashes another renewables myth, showing that they account for a far smaller portion of global demand for minerals and metals than fossil fuels – particularly coal.

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MacroBusiness Monday, October 21, 2019 - 15:02 Source

Via Gottiboff today: Relations between Australia and China have rarely been worse and there has been a sudden slump in the buying of Australian real estate by mainland Chinese—led by lower demand for Sydney apartments. There are fears the real estate downturn may extend to education and tourism –an escalation that is almost certain if

The post Gottiboff demands kow tow as China property buyers in “sudden slump” appeared first on MacroBusiness.

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Renew Economy Monday, October 21, 2019 - 15:01 Source

Roof with solar panels - optimised rebatesDistributed solar to be largest source of capacity additions in next five years, utility-scale PV, onshore wind and hydropower.

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Renew Economy Monday, October 21, 2019 - 14:42 Source

Tasmania's 112MW Granville Wind Farm on track to start sending power to the grid in December, with the first of its 31 turbines nearing completion.

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MacroBusiness Monday, October 21, 2019 - 14:40 Source

From Roy Morgan Research: Surveyed in September, Australians as a whole said they expected inflation to increase by 4% annually over the next two years. This is up very slightly (0.1%) on how they were feeling the previous month, but it is down a little (0.3%) on their expectations a year earlier. However there was

The post Inflation expectations collapse appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 14:20 Source

Reserve Bank of Australia (RBA) governor, Philip Lowe, has told an International Monetary Fund meeting in Washington that the Australian economy appears to be on track to return to its trend growth rate in 2020, which should put downward pressure on the unemployment rate and gradually boost wages. From The Australian: “I don’t think it’s

The post RBA propaganda: Australian wages to magically lift in 2020 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, October 21, 2019 - 14:07 Source

By RosemaryJ36   I think we will all go to hell in a hand-basket, nor necessarily metaphorically speaking, if we cannot rapidly learn to distinguish between the relative merits of religion, ethics and morality. First – Religion: After all, despite the conviction of our current Prime Minister – miracles do not happen. I qualify that by…

The post Morality appeared first on The AIM Network.

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MacroBusiness Monday, October 21, 2019 - 14:00 Source

Some hope for new developments from Stockland: Still very mixed and quite weak. I don’t know why VIC is so weak. Perhaps the secondary market bust is still weighing on demand.

The post Stockland property sales grind higher appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 13:40 Source

Pig’s bottom, at the AFR: A Chinese state-owned entity will seek to revive a $9.7 billion mining rail and port project in Western Australia, in a move that could unlock the nation’s next iron ore export province. Sinosteel has acquired Japanese giant Mitsubishi’s interests in the long-stalled Oakajee Port and Rail project, in a deal

The post China about to launch new Pilbara development! appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 13:26 Source

The fade continues for Chinese data. This time new home prices which eased to 0.53% on the month and 8.4% on the year: All city tiers are slowing though lower remains stronger: Breadth of price gains is falling away at a good pace now, down to 44 cities with rising prices and 26 with flat

The post Chinese house prices fade away appeared first on MacroBusiness.

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MacroBusiness Monday, October 21, 2019 - 13:20 Source

CBA interest rate strategists, Jarrod Kerr and Adam Donaldson, claim that mass immigration is Australia’s “fountain of youth” and will prevent housing prices from falling. From The Australian: Back in January 2017, the interest rate strategists at the Commonwealth Bank published a Global Markets Research paper called Demography is Destiny for Interest Rates, But Immigration

The post CBA: Mass immigration will keep Australian housing unaffordable appeared first on MacroBusiness.

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