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Renew Economy Wednesday, May 27, 2020 - 12:34 Source

A new technique to preserve native vegetation and reduce dust will be rolled out during construction of the 280MW Cultana Solar Farm in South Australia.

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MacroBusiness Wednesday, May 27, 2020 - 12:20 Source

Speaking to Sky News this morning, Prime Minister Scott Morrison pushed back against union calls to extend JobKeeper payments beyond its legislated late-September expiry date: “These are temporary measures and it is important that we get the economy out of ICU as quickly as we can. we can’t have Australians living on borrowed money for

The post ScoMo: No extension to JobKeeper appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 12:05 Source

The ABS has released data on the value of construction work done for the March quarter of 2020, which registered another 1.0% seasonally-adjusted decline in total construction activity over the quarter – the seventh consecutive quarterly decline – and a 6.5% decrease over the year: However, the result beat analysts’ expectations of a 1.5% decline

The post Australian construction work fell in Q1 appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 12:00 Source

Via Banking Day: Demand for guarantees under the Morrison Government’s First Home Loan Deposit Scheme now exceeds capacity after the limit of 10,000 borrower reservations was reached last week. Data collated by the National Housing Finance and Investment Corporation – the government agency tasked with managing the program – show that 5,500 guarantees have been

The post Scomoprime brims over appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 11:40 Source

Via the excellent George Tharenou: JobKeeper revised down materially from 6.5mn to 3.5mn = $60bn less spending Australian authorities found reporting errors which saw the number of people on JobKeeper revised materially down from 6.5mn to 2.9mn. The expected peak was also cut sharply from 6.0mn to 3.5mn; reducing the fiscal cost by $60bn, from $130bn

The post UBS: Consumers ready to spend, borrow appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 11:20 Source

If you’re looking for a new rental property now could be the time to upgrade to that waterfront view, with prices across the city suffering from a ‘covid-crunch’. @RuthWW #9News pic.twitter.com/MQ7yM4Gu99 — Nine News Sydney (@9NewsSyd) May 24, 2020 Speaking to Nine News, SQM Research’s managing director, Louis Christopher, describes Sydney’s rental market as “very

The post Sydney becomes “biggest tenants market in 20 years” appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 11:00 Source

China recovery inches up, via Capital Economics: Empty apartments are back!

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MacroBusiness Wednesday, May 27, 2020 - 10:40 Source

Robert Gottliebsen has warned that the shift to working from home (WFH) could suck the life out of Australia’s CBDs. Gottliebsen claims the nation’s CBDs and their valuable infrastructure will stagnate if some semblance of normal working activity does not resume. He also argues that WFH leads to much less personal interaction, makes it harder

The post Working from home will kill CBDs. And that’s a good thing appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 10:20 Source

Via the excellent Damien Boey at Credit Suisse: Activity bottoming out. May purchasing managers indices (PMIs) for Australia and major economies reveal a bottoming out process in train. PMIs everywhere are rising sharply off their historical lows. To be sure, PMIs are diffusion indices, meaning that their level corresponds with a rate of change in activity, and sufficiently high readings are necessary to

The post Supply side inflation easing appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 10:00 Source

The ANZ-Roy Morgan Australian Consumer Confidence index rose 0.4% to 92.7 in the week to 24 May, its eighth straight increase. However, it has a long way to go to return to ‘normal’ levels: Confidence up 0.4%: Confidence gained for the eighth straight week and is up 42% from its low point in March, when

The post Consumer confidence continues long climb out of gutter appeared first on MacroBusiness.

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xkcd.com Wednesday, May 27, 2020 - 10:00 Source

Hello and welcome to Millibar Millibarn Attometer, an advice show for the Planck era.

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MacroBusiness Wednesday, May 27, 2020 - 09:40 Source

Via Bloomie: Hong Kong is bracing for what could be its biggest day of protests in months, with pro-democracy groups calling for a general strike against China’s latest moves to increase control of the city. Protests are planned for Wednesday near the Legislative Council building in central Hong Kong, where lawmakers plan to hold a

The post FYI: Hong Kong general strike today appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 09:20 Source

Iron ore prices for May 26, 2020: Not pretty on a day of tearaway broader fakeflation. Here’s why: China’s steel association and major steelmakers have called for an increase in domestic iron ore production as well as greater investment in exploration overseas to ensure supplies. He Wenbo, chairman of the China Iron & Steel Industry

The post Daily iron ore price update (the punishment) appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 09:00 Source

Feel the fear: I note that for Mr Pavlou to be a martyr he must first die. I shouldn’t put ideas in UQ’s head. The story says! Before he was dubbed the world’s most famous undergraduate, Drew Pavlou was merely a “particularly annoying” student making life hell for the University of Queensland over its close

The post Business elite tremble at the feet of Drew Pavlou appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 08:30 Source

By Chris Becker  The return of Wall Street sent risk sentiment higher overnight as stock markets continued their push to return back to normal overinflated bubble like status before the COVID-19 pandemic. The USD took a big hit against the majors with Pound Sterling back to a two week high and the Australian dollar pushing

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 07:31 Source

DXY is at the bottom of its recent range. EUR is looking to bottom: The Australian dollar to the moon versus DMs: It outbid most EMs too: Gold sagged despite DXY: Oil is coiling for a new spring: Dirt is more truthful: Big miners were mixed: EM stocks couldn’t catch a new high: But junk

The post Australian dollar to Mars on fake blown reflation appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 07:24 Source

Last week, we witnessed coordinated lobbying efforts by Australia’s three main housing groups – the Property Council of Australia (PCA), the Housing Industry Association (HIA) and Master Builders Australia (MBA) – calling for subsidies to stimulate new home construction alongside a quick return to mass immigration. This came after the HIA forecast that new dwelling

The post ScoMo readies massive housing stimulus appeared first on MacroBusiness.

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George Monbiot Wednesday, May 27, 2020 - 00:35 Source

The government
knowingly and deliberately de-prepared the UK, even as the pandemic began to
bite.

By George
Monbiot, published in the Guardian 20th May 2020

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MacroBusiness Wednesday, May 27, 2020 - 00:10 Source

SQM Research has hosed suggestions that Australia’s auction market is rebounding, recording a clearance rate of under 50% in both Sydney and Melbourne off very low volumes: Last week, Sydney recorded a final auction clearance rate of 47.0% with mid-week auctions faring worse than Saturday results (34.1% verses 49.3%). Sydney volumes continue to be at

The post SQM: Auction market remains weak appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 27, 2020 - 00:05 Source

The CEO of the International Education Association of Australia (IEAA), Phil Honeywood, has once again demanded the government allow “large numbers” of international students to enter Australia: “If the federal government is pragmatic enough to accept the separate state government proposals for pilot intakes (of international students) then it will prove the model for Australia

The post Lobbyists demand quick return of international students appeared first on MacroBusiness.

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Renew Economy Wednesday, May 27, 2020 - 00:01 Source

Renewables beat gas to second place in Australia's electricity market in 2019. Coal slumps to its lowest share of generation ever, official statistics show.

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Renew Economy Wednesday, May 27, 2020 - 00:01 Source

Renewables beat gas to second place in Australia's electricity market in 2019. Coal slumps to its lowest share of generation ever, official statistics show.

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MacroBusiness Wednesday, May 27, 2020 - 00:01 Source

Global Macro / Markets / Investing: Inside The $2.5 Trillion Debt Binge That Has Taken S&P500 Titans Including Boeing And AT&T From Blue Chips To Near Junk – Forbes The Share Economy won’t survive 2020: Airbnb Case Study – Towards Data Science Why is the stock market rallying when the economy is in free fall?

The post Links 27 May 2020 appeared first on MacroBusiness.

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Renew Economy Tuesday, May 26, 2020 - 21:41 Source

Western Power installs first of 10 grid-connected PowerBank "community batteries" in Kalgoorlie-Bolder to support uptake of more solar and help smooth the grid.

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Your Democracy Tuesday, May 26, 2020 - 20:24 Source

union-bashing

Unions and Labor both reacted cautiously to the news, with Australian Council of Trade Unions secretary Sally McManus saying unions would participate in the meetings. 

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WixxyLeaks Tuesday, May 26, 2020 - 18:09 Source

If there is one leader that has earned the trust of the population during the Covid-19 pandemic it has been the Victorian Premier Daniel Andrews.

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Your Democracy Tuesday, May 26, 2020 - 17:14 Source

book of job

Prime Minister Scott Morrison says the Government will shelve contentious "union-busting" laws as a sign of good faith, while pointing towards an overhaul of Australia's industrial relations system.

 

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MacroBusiness Tuesday, May 26, 2020 - 17:00 Source

A solid up day here in Asia despite the lack of a lead from US and UK markets with a sea of green across stock markets. The USD is weakening against all the majors, save Yen, with gold still asleep on the sidelines. In mainland China, the Shanghai Composite closed 1% higher to 2846 points,

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Tuesday, May 26, 2020 - 16:21 Source

trumpgolf

Apparently untroubled by charges of hypocrisy, US President Donald Trump has played golf for the first time since declaring the coronavirus pandemic a national emergency more than two months ago.

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Renew Economy Tuesday, May 26, 2020 - 15:22 Source

AAP - Snowy Hydro Tumut 3 - optimised Eden-Monaro by-election to be a test of the Morrison leadership and bushfire response and a local battle fought on issues including climate and renewables.

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