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MacroBusiness Tuesday, October 22, 2019 - 13:40 Source

Via Morgan Stanley, the answer is nothing: Trade tensions between the US and China have been the single biggest source of uncertainty for the global economy over the past 18 months. After a protracted period of negotiations, some progress has been made towards a deal, with a potential Phase 1 to be signed in mid-November. How

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Renew Economy Tuesday, October 22, 2019 - 13:32 Source

pipeline bango wind farm Wind turbines creating renewable energy on cattle farm - optimisedResearch group predicts rapid rise of a renewable energy export industry will accelerate the exit of coal from Australian market as soon as 2040.

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MacroBusiness Tuesday, October 22, 2019 - 13:30 Source

Neither. It’s going to stagnate. Some links from Sinocism as we head into the Fourth Plenum: China Braces for Sub-6% Economic Growth in Key Policy Meetings – Bloomberg Data released Friday showed an economy expanding at just 6.0%, the slowest in almost three decades, and with broad investment growth too tepid to rely on an

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MacroBusiness Tuesday, October 22, 2019 - 13:15 Source

Here ’tis: Population growth of 1.6% plus inflation of 1.6% equals zero same store growth with “a higher level of promotional activity” read discounts. Another Frydenberg wash.

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Renew Economy Tuesday, October 22, 2019 - 13:01 Source

acciona solar farm panels queensland-2Former CEFC chief calls for a new, Queensland government-owned green bank to unlock the state’s north as “a major growth engine” for renewables.

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MacroBusiness Tuesday, October 22, 2019 - 13:00 Source

Who would have thought: the drought is driving people from the regions to the cities, the opposite of the federal government’s ‘migrants to the bush’ policy. From The SMH: Leading regional economist, Terry Rawnsley, has warned fears about water could discourage Sydney residents from moving to regional towns at the same time as the economic

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MacroBusiness Tuesday, October 22, 2019 - 12:45 Source

ACTU president Michele O’Neil has criticised Labor’s decision to support legislation to establish free trade agreements (FTAs) with Indonesia, Hong Kong and Peru. She says the trade deals breach Labor’s national policy platform. Unions’ concerns about the trade deals include the clauses regarding investor-state dispute settlement and labour market testing. The legislation was passed by

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MacroBusiness Tuesday, October 22, 2019 - 12:30 Source

A little short term luck for iron ore today: On this, via Reuters: Brazilian iron ore miner Vale said on Monday it has temporarily shut down its Itabiruçu tailings dam and lowered its full year iron ore and pellet sales guidance as a result. Vale said it had shut down the dam so it could

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MacroBusiness Tuesday, October 22, 2019 - 12:20 Source

Last month, the ACT Legislative Assembly passed laws legalising the recreational use of marijuana, which will allow residents aged over 18 to possess up to 50 grams and grow two plants from next year. This has garnered a strong backlash from the federal government, which labelled the legislation “dangerous” and has threatened to block the

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Renew Economy Tuesday, October 22, 2019 - 12:12 Source

AEMO looks overseas for best practice on renewables integration and may adopt a "staged transition" as it seeks to determine if there is an upper limit to wind and solar.

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Renew Economy Tuesday, October 22, 2019 - 12:03 Source

BHP cancels existing coal contracts and commits to going 100 per cent renewables at its huge Chile copper mines, to save money and emissions.

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MacroBusiness Tuesday, October 22, 2019 - 12:00 Source

Amid the widespread media gushing over ‘tiny homes’, it is nice to finally read an honest appraisal on why they are a retrograde solution for chronic housing policy failures: Finally, an ingenious solution to a housing crisis that is sapping the quality of life of an entire generation: the humble van. More than 21,000 Britons

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MacroBusiness Tuesday, October 22, 2019 - 11:40 Source

Picking up the bat and running with it is GLJ research: Is it Realistic to Envision an Environment where Iron Ore Prices Drop Back to the 1989-2003 Avg. of $30/MT – i.e., the Pre-China Construction Boom Price? First off, we’ll remind our readers that from the period of 1998-2003, 62% Fe spot iron ore prices

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MacroBusiness Tuesday, October 22, 2019 - 11:20 Source

Via the EIA: Source: U.S. Energy Information Administration, Weekly Natural Gas Storage Report Working natural gas inventories in the Lower 48 states totaled 3,519 billion cubic feet (Bcf) for the week ending October 11, 2019, according to the U.S. Energy Information Administration’s (EIA) Weekly Natural Gas Storage Report (WNGSR). This is the first week that Lower 48 states’ working

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MacroBusiness Tuesday, October 22, 2019 - 11:00 Source

Because one year is a long time in Australian property. Via Banking Day: Westpac is easing restrictions on lending to property investors in an attempt to revive its underperforming mortgage business. The bank yesterday raised the loan to value ratio caps on interest-only mortgages from the previous limit of 80 per cent. Under a revised

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The Tally Room Tuesday, October 22, 2019 - 11:00 Source

The final ward boundaries for Brisbane City Council were released last Friday. These boundaries will apply for next March’s council election.

The changes from the draft boundaries were relatively mild, although it was enough to push Doboy from being very marginal for the LNP to becoming a notional Labor ward.

10% of the city had been transferred into a new ward on the draft boundaries: this drops to 8% on the final boundaries, with a number of 2016 boundary lines restored.

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Poll Bludger Tuesday, October 22, 2019 - 10:50 Source

  10:50am Welcome to a live blog of the Canadian election results by Adrian Beaumont.  The Canadian Broadcasting Corporation has up-to-date figures.  Polls closed at 10:30am AEDT in four eastern provinces (32 of 338 seats), and the Liberals have leads in 12 seats, to two for the Conservatives, and one NDP.  These eastern provinces are … Continue reading "Canadian election results live!"

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MacroBusiness Tuesday, October 22, 2019 - 10:40 Source

Perth’s housing crash has been well documented on MB. According to CoreLogic, Perth’s house price bust has dragged on for more than five years, with values down more than 21% – easily exceeding prior busts: Perth rents have also collapsed by 22% since December 2014, according to the ABS: Now, newly released data from Landgate

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The Australian Independent Media Network Tuesday, October 22, 2019 - 10:39 Source

By Jay Smith   In the domain of politics and state government, the relationship between media and the state needs to be constantly examined. Journalists in the past have served to both promote politicians and government initiatives while investigating and scrutinising politicians and the government of the state. This relationship between the media and politics has…

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MacroBusiness Tuesday, October 22, 2019 - 10:20 Source

Two years ago, we praised WA Premier, Mark McGowan, for standing up for workers and demanding the federal government remove Perth from the Regional Sponsorship Migration Scheme, thus effectively preventing a pathway for overseas workers to gain a visa: At the time, the McGowan Government also trimmed the state’s skilled migration list, slashing it to

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

The drumbeat of contempt for the L-plated treasurer, Josh Recessioberg, is ceaseless and growing louder. Monetary curmudgeon Stephen Grenville leads us off: The story begins in the 1960s. The combination of the Vietnam War, LBJ’s Great Society and the moon landing put such pressure on US capacity that inflation was inevitable. Once the inflation-expectations genie

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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

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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

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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

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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

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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

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