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DXY pumped and dumped overnight: The Australian dollar likewise: Gold too: Oil lifted: Metals bifurcated: Miners are still not well: EM stocks jumped: Junk too: And yields: Stocks added small gains: Westpac has the data wrap: Event Wrap US ADP private sector employment was stronger than expected, with a rise of 749k jobs (vs est. 649k)

The post Australia dollar bets on Biden appeared first on MacroBusiness.

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At The Australian: Scott Morrison will pour $1.5bn into revitalising Australian manufacturing through the COVID-19 economic recovery and unveil a strategy to boost large-scale production, develop new products and expand access to global ­markets. The Prime Minister will use a major pre-budget speech to ­announce a $1.3bn Modern Manufacturing Initiative that will see the government

The post Morrison manufacturing strategy a new Game of Mates appeared first on MacroBusiness.

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We decided to evict our teenaged son… from the TV room. It had only recently occurred to me that he’d completely conquered the place. It was full of chip packets and Xbox discs. It was… not nice.

He’d been sitting with his feet up on the furniture, the way they do, and had pretty much destroyed my white leather couch.

The latest private sector credit data released yesterday by the Reserve Bank of Australia revealed that the stock of personal credit collapsed by 12.5% in the year to August – the biggest plunge in recorded history: As shown above, this decline in personal credit growth dwarfs the troughs of the GFC (-7.8%) and the early

The post Aussie households pull deleveraging handbrake appeared first on MacroBusiness.

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APRA has released its August lending data which we use to track growth trends in investor loans for property. After a big monthly spike in June as the economy reopened, July and August have both disappointed. Perhaps June was pent-up demand and August will certainly be hit by the Melbourne shock. Monthly growth for the

The post Property investment lending points to further price falls appeared first on MacroBusiness.

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The future gets described in confusing ways. Things that are likely, improbable and impossible are constantly muddled. As RenewEconomy has documented for a good part of the past decade, the recent history of clean energy has sat in the middle of this muddled language. Many have peeked into the future, and declared the rapid growth...

Hear how to make the leap to smart, sustainable transport in this first in a series of webinars to discuss the global transition to electric vehicles.

The post Webinar: The EV transition – Policy and practice appeared first on RenewEconomy.

Ross Gittins makes some obvious, but important, points about what is lsot when vital public services are contracted out. As he says, economists have known this since the work of Oliver Hart, last century, but it’s only now penetrating the policy establishment. In the UK, which led the charge for outsourcing under Thatcher, insourcing is the New Big Thing.

Here’s an extract from my contingent* book-in-progress, Economic Consequences of the Pandemic commissioned by Yale University Press. Comments and compliments appreciated, as always.

The Covid-19 pandemic has taught us several things about inequality, or rather, it has dramatically reinforced lessons we, as a society, have failed to learn. The first is the importance of luck in determining unequal outcomes.

Turnbull says there is no such thing as cheap gas on the east coast of Australia, because of the cost of getting it out of the ground.

The Victorian Government is helping local businesses use more renewable energy technologies that reduce electricity costs, create jobs and support clean power.

The post Bringing clean energy to regional Victorian communities appeared first on RenewEconomy.

AGL today announced it had completed the acquisition of Click Energy, a wholly owned subsidiary of ASX-listed amaysim Australia Limited, for $115 million

The post AGL finalises acquisition of Click Energy appeared first on RenewEconomy.

NSW energy minister Matt Kean breaks ranks with federal Liberal party colleagues, saying clean energy, not gas, is key to long term Australian prosperity.