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MacroBusiness Thursday, April 18, 2019 - 13:45 Source

Via Westpac: • Westpac’s forecast for the March quarter CPI is 0.1%qtr with the annual pace easing back to 1.4%yr from 1.8%yr. • The March quarter is a seasonally soft quarter with the ABS projecting a seasonal factor of +0.2ppt. The seasonally adjusted CPI is forecast to rise 0.3%. • Core inflation is forecast to

The post Australian inflation tanking? appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2019 - 13:40 Source

UNSW researchers are combining desalination technology with solar, targeting those in need of secure supplies of fresh water who are also disconnected from electricity grids.

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Renew Economy Thursday, April 18, 2019 - 13:40 Source

UNSW researchers are combining desalination technology with solar, targeting those in need of secure supplies of fresh water who are also disconnected from electricity grids.

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Renew Economy Thursday, April 18, 2019 - 13:31 Source

Report into Victoria load-shedding in January highlights failure of brown coal generators, and how renewables performed better than forecast.

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MacroBusiness Thursday, April 18, 2019 - 13:30 Source

Cross-posted from Independent Australia: Morrison Government’s population plan “capped” permanent migration at 160,000 but its 2019 Budget uncapped net migration to 270,000. This has not been challenged by the Labor Opposition and so, our steep population growth is removed from the political contest, ignoring the environmental and electoral objections. UP UNTIL CHRISTCHURCH, Prime Minister Scott Morrison’s muscular migration brand was “Stop

The post Where is Australia’s population policy? appeared first on MacroBusiness.

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Renew Economy Thursday, April 18, 2019 - 13:25 Source

Creditors of embattled wave power company Carnegie Clean Energy vote unanimously to accept restructuring plan to save the company and re-list it on the ASX.

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MacroBusiness Thursday, April 18, 2019 - 13:15 Source

Via the NAB quarterly business survey: Both business conditions and confidence declined in the quarter. Conditions continued its downward trend since peaking in early 2018 and is now only just above average, suggesting the loss of momentum in the business sector has continued into early 2019. Confidence and forward orders turned negative in the quarter

The post A detailed look at business job intentions appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 13:00 Source

CoreLogic’s Cameron Kusher has released a research note looking at dwelling commencement trends across Australia’s various sub-components, which shows that risks are skewed towards high-rise construction: The Australian Bureau of Statistics (ABS) recently released the quarterly Building Activity data for December 2018. The release is a treasure-trove of data and includes information on dwelling commencements,

The post CoreLogic: High-rise apartment risks building appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 12:51 Source

By Leith van Onselen As summarised earlier, the Australian Bureau of Statistics (ABS) today released its labour force report for March, which registered a solid 25,700 increase in total employment but a 0.1% increase in the headline unemployment rate (to 5.0%) because of a 0.1% rise in labour force participation. In trend terms, the unemployment

The post ABS employment in detail: defying gravity appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 12:45 Source

By Leith van Onselen Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Today, CoreLogic has released its final auction results, which reported a 5.0% decline in the final national auction clearance rate to 52.2% – slightly below last week’s final clearance rate of 52.6%: As you can see, Sydney’s final

The post Final auction clearances remain stillborn appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 12:30 Source

By Leith van Onselen New Zealand will remain one of the few developed nations in the world not to have a capital gains tax (CGT), after the Labour-led Government yesterday ruled-out implementing such a measure. From Interest.co.nz: The Government will not introduce a Capital Gains Tax having failed to reach a consensus, with coalition partner

The post Jacinda Adern retreats on NZ capital gains tax appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 12:00 Source

By Leith van Onselen In the week ended 18 April 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.07%: Values fell across four major markets: So far in April, home values have fallen by 0.35% at the 5-city level, with all major capitals falling: The

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

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MacroBusiness Thursday, April 18, 2019 - 11:52 Source

This week’s LIVE webinar (12:30pm AEST, Thursday 18 April) we look at recent numbers out of China and examine what this means for Australian and global investment trends. Join MB Fund’s Head of Investments Damien Klassen, Chief Strategist David Llewellyn Smith and Tim Fuller as we discuss recent global data points and how we are

The post MB Fund Webinar: What does China’s credit deluge mean? appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 11:33 Source

ABS Labor Force is out for March and the news is still pretty good: MARCH KEY POINTS TREND ESTIMATES Employment increased 20,700 to 12,790,000 persons. Full-time employment increased 18,000 to 8,781,800 persons and part-time employment increased 2,700 to 4,008,200 persons. Unemployment increased 3,000 to 675,700 persons. Unemployment rate remained steady at 5.0%. Participation rate remained

The post Jobs report still firm appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 11:30 Source

It certainly got overbought as we know, via Credit Suisse: And yields have been rising now for few weeks: The curve has also steepened a little: Though spreads to the US have not really compressed much at all: I still expect the Aussie economy to be dragged into the housing bust throughout H2 and the RBA

The post Has the great Aussie bond rocket flamed out? appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 11:15 Source

Via The Australian: Senator Storer said if an ­incoming Labor government dragged the Senate back before June 30 to ram through part of its policy platform before the composition of the upper house changes following the election, he would attempt to push the government to ban Treasury costings of opposition parties. “Treasury and all other

The post Sensible Tim Storer seeks Treasury repair at exit appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 11:00 Source

By Leith van Onselen The decline in EU immigration into the UK in the wake of the Brexit Turmoil has proven to be a massive boon for workers, with unemployment falling to the lowest level since the 1970s and UK wages surging: Average wages are rising at the fastest rate in a decade and employment

The post Brexit immigration cut drives UK wages higher appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, April 18, 2019 - 10:50 Source

An obviously still bitter Coalition, amplified by a compliant media, have decided to use Labor’s so-called ‘Mediscare’ campaign last election as a reason to call Bill Shorten a liar. As Medicare does not make a profit, it obviously could not be sold.  So what did they mean by the Coalition want to privatise Medicare? In…

The post Was ‘Mediscare’ really a lie? appeared first on The AIM Network.

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MacroBusiness Thursday, April 18, 2019 - 10:45 Source

Via the FT: Bernie Sanders, the Vermont senator who fought Hillary Clinton for the Democratic nomination in 2016, led the field of 18 Democrats in the first quarter of the year by raising $18m, according to the Federal Election Commission. He was followed by Kamala Harris, the California senator, who raised $12m in the first

The post Bernie Sanders leads Democrat fundraising appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 10:30 Source

Another bank profit warning: UBS remains highly skeptical: …underlying trends are likely to remain very soft and deteriorating: (1) Volume growth should continue to slow as the credit squeeze continues and banks move to improve expense verification (reduced reliance on the HEM benchmark). (2) A bounce in NIM is expected following mortgage repricing. But how

The post UBS: Avoid banks as NAB warns appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 10:13 Source

Via the CBA Flash PMI: The Commonwealth Bank Flash Services Business Activity Index is designed to provide a timely indication of changes in business activity in the Australian service sector economy as a whole. Readings above 50.0 signal an improvement in business activity on the previous month, while readings below 50.0 show deterioration. Services business

The post CBA Flash PMI edges up but sends big warning appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 10:00 Source

Digital Finance Analytics’ principal analyst, Martin North, appeared on the 7.30 Report last night where he and Stephen Koukoulas (‘The Kouk’) debated the threat of negative equity as Aussie house prices fall: New data from Digital Finance Analytics has revealed there are 3,900 households in this post code, where the owner has a mortgage higher

The post ABC 7.30 Report does negative mortgage equity appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 09:45 Source

Via Bloomie: Officials are drafting measures to bolster sales of cars and electronics, according to people familiar with the matter, who asked not to be named because they aren’t authorized to discuss the plan. That news coincided with data showing a 6.4 percent year-on-year expansion in the first quarter — beating economists’ estimates. China’s latest

The post More Chinese stimulus coming appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 09:30 Source

The world’s most boring election continues. Via The Australian comes the cost carbon mitigation: Australian businesses could be forced to spend more than $25 billion on international carbon credits to meet Labor’s 45 per cent emissions reduction targets by 2030, jeopardising one of Bill Shorten’s fundamental election pillars, which he declared would have no cost to

The post Scummo losing the tax debate appeared first on MacroBusiness.

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Matt Cowgill Thursday, April 18, 2019 - 09:23 Source

I have a couple of new posts up at the Grattan Blog.

The first is built around a web app that shows you which countries are most similar to Australia, measured using criteria that you can weight yourself. We used this to help us when we were considering which countries to compare Australia to in the Commonwealth Orange Book.

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MacroBusiness Thursday, April 18, 2019 - 09:15 Source

Iron ore prices for April 17, 2019:    Spot spanked on Brucutu. Paper more. Steel solid. Port stocks are climbing, 149mt last week, suggesting no shortage or ore. We might see some price strength as mills restock a little longer but the clear risk now is more price falls moving into May/June which is a

The post Daily iron ore price update (falls ahead) appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 09:00 Source

DXY was down last night with EUR and CNY up: AUD is still warm versus DMs: Mixed against EMs: Gold is struggling. I’m turning more favourable: Oil eased: Copper wants to chase Chinese stimulus: Big miners were soft as iron ore fell: Em stocks are grinding higher: Junk fell: Treasuries were bid: Bunds sold: Aussie

The post Australian dollar still bid on Chinese stimulus appeared first on MacroBusiness.

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MacroBusiness Thursday, April 18, 2019 - 08:30 Source

By Chris Becker  Another mixed session on stocks overnight with European bourses advancing again while Wall Street stalled due to a drop in health care stocks from the “Mediscare for all” and a slump in oil prices. The USD firmed slightly against the undollars, particularly gold which made another new daily low while CPI prints

The post Macro Morning appeared first on MacroBusiness.

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Grattan Blog Thursday, April 18, 2019 - 08:00 Source

Australians are pretty healthy, on the whole.1 In the health chapter of the 2019 Commonwealth Orange Book, we show that a baby born in Australia can expect to live 82.5 years.

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Renew Economy Thursday, April 18, 2019 - 06:01 Source

The irony. Adani, fighting protests over its huge Queensland coal mine, opposes Gupta solar farm in South Australia because of concerns about grass wrens and thornbills.

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