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MacroBusiness Friday, June 8, 2018 - 00:20 Source

By Leith van Onselen The deflation of Sydney’s and Melbourne’s housing markets rolls on, with both jurisdictions reporting further price falls this week. In Sydney, values fell by 0.11% in the week ended 7 June, according to CoreLogic: Sydney home values have now declined by a cumulative 4.8% over the past 39-weeks, with values also

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Friday, June 8, 2018 - 00:16 Source

There is no disputing that since becoming the ministerial head of that new 'super' federal government department, the Department of Home Affairs, Minister for Immigration and Border Protection Peter Craig Dutton has enjoyed a level of political power not shared by his ministerial colleagues. However he is obviously not happy that this power does not intimidate Australian courts and tribunals.Perhaps this is because his Migration and Refugee Division and Character Assessments and Cancellations Branch are not a

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MacroBusiness Friday, June 8, 2018 - 00:15 Source

By Leith van Onselen Wednesday’s national accounts release for the March quarter confirmed that Australia’s FIRE economy – Finance, Insurance and Rental, Hiring & Real Estate Services – ceased bleeding its host, with its share of the Australian economy finally retracing, down 0.1% from its June 2017 high to 11.9%: That said, since financial markets

The post FIRE sector vampire finally runs out of credit blood appeared first on MacroBusiness.

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Friday, June 8, 2018 - 00:15 Source

It seems that mainstream media reports concerning the Barnaby Joyce soap opera have jogged a few memories in the Clarence Valley.I have been asked recently about the current status of former Clarence Valley Council general manager Scott Greensill.

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MacroBusiness Friday, June 8, 2018 - 00:10 Source

By Leith van Onselen In the week ended 7 June 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.07%: Values fell again in Sydney and Melbourne but rose across the other major markets: So far in 2018, home values have declined by 1.55%, with only

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

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MacroBusiness Friday, June 8, 2018 - 00:05 Source

Iron ore prices for June 7, 2018: Tianjin benchmark fell 5 cents to $65.15. Paper sank overnight. Steel is revving up to match huge output. Coking coal is still untouchable. Steel demand remains excellent. Iron ore is clearing oversupplied. Coking coal the opposite. The first must break first.

The post Daily iron ore price update (steel powers on) appeared first on MacroBusiness.

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MacroBusiness Friday, June 8, 2018 - 00:04 Source

Via Capital Economics: Capital outflows remain muted despite broader EM selloff • The latest foreign exchange reserves data are consistent with very little PBOC action in the FX markets. This suggests that the recent resilience of the renminbi relative to other EM currencies reflects confidence in China’s economy and ability to manage its exchange rate

The post China capital account still stable appeared first on MacroBusiness.

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MacroBusiness Friday, June 8, 2018 - 00:01 Source

Global Macro / Markets / Investing: Shale Country Is Out of Workers and Dangling 100% Pay Hikes – Bloomberg The retirement-consumption puzzle – VOX Hedge Fund Managed by Billionaire Howard Gained 36% in May – Bloomberg Bubble-Like Stock Valuations Miss $3.4 Trillion in Hidden Assets – Bloomberg Blockchain and cryptocurrency jargon buster – FT Extreme

The post Links 8 June 2018 appeared first on MacroBusiness.

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Harrangue Man Thursday, June 7, 2018 - 23:12 Source

I don't get the appeal of the penis but that's okay, there are plenty of people that do. But if you do happen to see one in go mode typically you see it from above or to the side.

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The Australian Independent Media Network Thursday, June 7, 2018 - 17:26 Source

The mechanical, robotic striving of university politburos and their jack boot managers have always been interesting when it comes to one particular topic: the role of technology and its adoption. For it is in technology that the mediocre paper clip shuffler can claim to have achieved something – on someone else’s back, naturally. The shift…

The post Dazzled by Tech: Universities, Googlification and Microsoft appeared first on The AIM Network.

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MacroBusiness Thursday, June 7, 2018 - 17:17 Source

Another green board across Asian share markets today as the positive Wall Street lead kept risk buttons flicking on the on switch. Treasuries and sovereign  bonds remain less favourable in the wake of the ECB language regarding its QE program while commodities were relatively steady although the Brent/WTI gap remains wide. The Shanghai Composite has

The post Macro Afternoon appeared first on MacroBusiness.

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Inside Story Thursday, June 7, 2018 - 16:34 Source

Which is the world’s largest economy: China, or the United States? You can be excused for not having a ready answer. On the one hand, you read that China is already number one: that it overtook the United States back in 2014. Then you read other experts asserting that no, America is still way ahead, and it will be 2030 or later before China catches up.

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Renew Economy Thursday, June 7, 2018 - 16:01 Source

Tasmania’s bid to become battery of nation could require as many as four new interconnectors to be installed between the island state and mainland Australia.

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Renew Economy Thursday, June 7, 2018 - 15:59 Source

Scare campaigns about blackouts, this time caused by rooftop solar, are again in mainstream media. We explain what's going on here, why the claims are dubious, and why the market operator, networks and software companies want to control your rooftop solar system.

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Renew Economy Thursday, June 7, 2018 - 14:46 Source

Keeping his word to ‘go electric’, Scottish tennis champ Andy Murray has become one of the first owners of the Jaguar I-PACE EV.

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The Australian Independent Media Network Thursday, June 7, 2018 - 13:32 Source

The Coalition’s political strategy has been, for some time now, to attack individuals in relentless smear campaigns.  This does absolutely nothing to advance policy.  It does nothing to encourage debate, inform the electorate, or garner support for action.  It does nothing to improve the lives of Australians. Looking back over this century so far, it…

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MacroBusiness Thursday, June 7, 2018 - 13:30 Source

By Leith van Onselen The Australian’s Adam Creighton has penned another excellent article attacking the cost of Australia’s compulsory superannuation system on the Federal Budget: The superannuation guarantee increases costs to the government, which therefore ­requires a higher tax burden. That’s because the cost of the superannuation tax concessions is greater than the savings to

The post Superannuation not so super for Federal Budget appeared first on MacroBusiness.

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Renew Economy Thursday, June 7, 2018 - 13:22 Source

Commission will set phase-out timeline for coal, but greens warn it may be too weak to salvage Germany’s reputation as a climate leader.

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MacroBusiness Thursday, June 7, 2018 - 13:00 Source

By Leith van Onselen Last month, The Australia Institute (TAI) released research estimating that “62% of tax cuts benefits go to highest income earners”, whereas “just 7% of the benefit goes to the 30% of Australians on the lowest wages”: Now, the Grattan Institute has provided a submission to the Senate Economics Legislation Committee Inquiry into

The post Coalition’s tax cuts overwhelmingly benefit the wealthy appeared first on MacroBusiness.

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MacroBusiness Thursday, June 7, 2018 - 12:30 Source

By Leith van Onselen Statistics New Zealand has commenced collecting data on non-resident purchases of New Zealand homes, and the results are interesting: In the March 2018 quarter, just over 3 percent of home transfers were to people who didn’t hold New Zealand citizenship or resident visas, Stats NZ said today… Nearly 33,000 homes were

The post Foreign buyers gobble 7.3% of Auckland homes appeared first on MacroBusiness.

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MacroBusiness Thursday, June 7, 2018 - 11:55 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released trade data for the month of April, with Australia’s trade surplus falling 44% to $977 million in April from $1,731 million in March: Below is the time series chart: In seasonally adjusted terms, exports fell by $763m (2%) to $34,188m in April, whereas

The post Trade surplus retraces in April appeared first on MacroBusiness.

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MacroBusiness Thursday, June 7, 2018 - 11:15 Source

By Leith van Onselen Back in 2007, then National opposition leader, John Key, lamented the woeful housing affordability in New Zealand (Auckland in particular), and promised to undertake a wide range of supply-side reforms if elected into government. John Key was elected as Prime Minister in November 2008 and the National Government ruled until September

The post Politicians only care about housing in opposition appeared first on MacroBusiness.

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Renew Economy Thursday, June 7, 2018 - 10:50 Source

Massive 70 metre wind turbine blades, bound for the Kennedy Energy Park in Hughenden, were imported through Townsville port this week for the first time in history.

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Renew Economy Thursday, June 7, 2018 - 10:40 Source

The new web-based tool with an intuitive graphical interface helps installers lower PV design costs and increase conversion rates by creating compelling customer proposals.

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MacroBusiness Thursday, June 7, 2018 - 10:33 Source

This Afternoon | State of the Nation 12:30 PM (GMT + 11:00) Today on MB Fund Webinar, State of he Nation will have Leith Van Onselen joining us to explain the hidden figures in the latest National Accounts. Join us as Tim Fuller walks through the the report with Leith as they breakdown each segment against current trends. What did

The post Live Today | MB Fund Webinar: State of the Nation appeared first on MacroBusiness.

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MacroBusiness Thursday, June 7, 2018 - 10:30 Source

By Leith van Onselen Yesterday’s national accounts for the March quarter revealed a strange set of numbers for the Western Australian economy. While Australia’s GDP grew strongly on the back of a big lift in net exports: A large chunk of which would have come from Western Australia, given net exports rose strongly there over

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MacroBusiness Thursday, June 7, 2018 - 10:25 Source

Via Forexlive: This the latest FX poll of analysts by Reuters, with expectations of the US dollar to run out of steam. Highlights: Current dollar resurgence to end within next three months, nearly 60% of 60 economists say; rest say later Change in monetary policy is the biggest risk to US dollar, about 60 percent

The post Australian dollar bears rejoice, markets still drunk on euro long appeared first on MacroBusiness.

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MacroBusiness Thursday, June 7, 2018 - 10:11 Source

You can always tell when the RBA is getting worried about bank funding stress because it begins with the propaganda. After noting the stress in its recent statement for the first time as a factor in the cash rate discussions, today Chistopher Kent aims hose the issue off in a new speech: I’d like to

The post RBA panics about bank funding stress appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, June 7, 2018 - 10:01 Source

By Michael Griffin One would expect that the Treasurer of a nation entrusted with the duty of protecting a nation’s accounts and economy would be capable of performing the basic arithmetic involved in formulating a Credit/Debit balance sheet such as a national budget. When it comes to Prime Minister Malcolm Turnbull’s chosen Treasurer, Scott ‘the…

The post Malcolm Turnbull and ‘the $100 Billion Porker’ appeared first on The AIM Network.

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MacroBusiness Thursday, June 7, 2018 - 10:00 Source

By Leith van Onselen With the Turnbull Government still requiring the support of eight out of the 10 crossbenchers to pass its income tax cuts package in the Senate, Treasurer Scott Morrison has ruled out legislating the third stage of its tax package separately. From The AFR: Stage three would start on July 1, 2024, and

The post Morrison commits to tax suicide pact appeared first on MacroBusiness.

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