Blogotariat

Via Patrick Commins at the AFR: Speaking at an Australian Business Economists’ event in Sydney, Westpac Institutional Bank boss Lyn Cobley wondered why the RBA was even entertaining the idea of implementing experimental policy measures in Australia, such as a quantitative easing (QE) program of the sort implemented in the United States, Europe, Britain and

The post AFR pundits need monetary policy schooling appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Via Bill Evans a Westpac: The minutes of the Reserve Bank Board meeting for August provided one significant surprise. In the Governor’s decision statement following the meeting on August 6, the conclusion included “the Board would continue to monitor developments in the labour market closely and adjust monetary policy if needed to support sustainable growth

The post Bill Evans: RBA readying slash and burn rate cuts appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

A $3.1m pilot project to produce green hydrogen via electrolysis at existing BOC gas facility in Queensland wins $950,000 from Australian Renewable Energy Agency.

UBS’ Jonathon Mott is freaking out a little declaring that RBA’s cure of rate cuts may be worse the housing correction “disease”: With interest rates now ultra-low, the ability of the banks to generate a lending spread and return on equity is very challenged. It is possible that RBA rate cuts could lead to a

The post Blame APRA not RBA for any property bubble reflation appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Via Martin North: Analysis released today by Digital Finance Analytics reveals that in the coming 12 months around 124,000 interest only loans will need to be switched to principal and interest loans. This is drawing data from our rolling household surveys. This translates to an estimated value of $47 billion, and represents a significant proportion

The post Is the interest-only mortgage cliff still an issue? appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Why would anyone buy an apartment today? Via the ABC: Unit owners in Sydney’s evacuated Mascot Towers building have learnt the repair bill could blow out to $20 million as construction engineers zero in on what caused the complex to crack. At an extraordinary general meeting in Sydney on Thursday night, the owners of units

The post Mascot Towers bill explodes appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Via the AFR: Oil and gas major Shell has triggered a major shake-up of the east coast electricity supply market, striking a $617 million deal to acquire business retailer ERM Power as it prepares for the radical disruption it expects throughout the sector because of the wide-scale shift to renewables. The agreement, struck at a

The post ACCC should block gas cartel power play appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Via Bloomie comes Satyajit Das: But the unusual size of the moves — regularly on the order of 1 per cent to 3 per cent — is being heightened by something else: the struggle to find someone with whom to trade. The decline in trading liquidity is evident in several metrics. Volumes have declined. Since

The post Das: Volatility is warning appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Last weekend, CoreLogic released its preliminary auction clearance rates, which revealed the following results: Yesterday, CoreLogic released its final auction results, which reported a 3.6% decline in the final national auction clearance rate to 73.0% – well above the same weekend last year (53.3%) and also above last week’s 67.8%: As you can see, Sydney’s final

The post Final auction clearance rate highest in 27 months appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

read more

By Chris Becker  No room for optimism on overseas markets last night as the lack of direction in Asia yesterday translated into mild selling on both sides of the Atlantic. Treasuries sold off slightly while gold retraced on some slightly hawkish Fed comments. Looking at the action on Asian markets yesterday, where Chinese stocks were quite mixed

The post Macro Morning appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

This is where we don’t want trade wars to go. Via Herald Sun: Australian iron ore is suspected of being used to help build China’s next-generation nuclear-powered and ballistic-missile attack submarines, according to security and industry experts. Consignments from Australia’s booming iron ore exports to China are likely being diverted by Beijing into the steel

The post Pig iron Scott. Aussie iron ore building Chinese naval threat appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

DXY eased overnight despite a weak EUR and CNY hitting an eleven year low: Here it is with a chart to disturb the even a hardened geopolitical observer: The Australian dollar was hammered versus DMs: And EMs: Gold held on: Oil fell: Metals do not look well: Nor big miners: Or EM stocks: Nor junk:

The post Australian dollar belted as Chinese yuan breaks appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]