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MacroBusiness Tuesday, July 21, 2015 - 08:21 Source

The triple-headed risk hydra that has been stalking global markets through 2015 today finds itself switching heads. The hydra is the global withdrawal of post-GFC stimulus in Europe, China and the US. For China, the attempt to manage its structural adjustment to slower growth via a stock market boom (and crash) has at least been stabilised,

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MacroBusiness Tuesday, July 21, 2015 - 08:09 Source

By Leith van Onselen This blog has written a lot about the upcoming economic storm approaching Western Australia as the state comes out the back of the biggest commodity price and mining investment boom in history, along with the likely crashing of dwelling investment as its population growth plummets. Today, I want to shift attention

The post Sell Darwin housing now! appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 05:31 Source

Starting back in 2011 I posted rather frequently about the macroeconomic situation in Europe. My basic premise for what we would see in its future was best summed up with the following sentence. Periphery nations weakening, France in the middle, Germany outperforming, but the whole ship slowly sinking. Given recent history that seems to have

The post The Greek resolution, such as it is appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 03:40 Source

From The Australian: Bill Shorten’s support has hit a record low 27 per cent as voters mark the Labor leader’s performance as worse than Tony Abbott’s, despite backing for the ALP rising to a four-month high. The latest Newspoll, conducted exclusively for The Australian, also shows Mr Abbott is back in front as preferred prime

The post Newpoll: Labor up, Kingslayer down appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 00:13 Source

From The Australian comes Atlas regrets: The Australian understands that Atlas had completed documentation for a “company-transforming transaction” with one of three so-called strategic parties with which it was in discussions, but the deal went unsigned after iron ore price posted its biggest single-day fall to its lowest level in more than six years. “Given the

The post Atlas regrets (updated) appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 00:06 Source

Here are the iron ore charts for July 20, 2015: Spot gyrations have thrown up a big rally with Tianjin up 3.8% to $51.90. 12 month swaps have caught the fever and backed away from new lows. Dalian jumped yesterday but flew overnight to 391. Rebar average even added a few pennies. Chinese iron ore

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

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MacroBusiness Tuesday, July 21, 2015 - 00:05 Source

Brent can’t catch a break now down again overnight to $56.52. There was no real news of interest but the strong run in the US dollar appears to be enough for now to keep it falling. John Kemp notes that the market is very short: Hedge funds and other money managers have rarely been so

The post Daily LNG price update (oil smash) appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 00:02 Source

Courtesy of FTAlphaville comes Michael Pettis on the China stock crash: It’s not just that markets are about volatility. It is that volatility can never be eliminated. Volatility in one variable can be suppressed, but only by increasing volatility in another variable or by suppressing it temporarily in exchange for a more disruptive adjustment at

The post Pettis on the China stock crash appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 21, 2015 - 00:01 Source

Global Macro / Markets / Investing: Speculators smash gold as dollar squeeze tightens – The Telegraph 7 Reasons Why Gold Is Plunging Again – ETF.com Gold bugs squashed by aggressive selling – Financial Times Commodity Rout Extends Toward 13-Year Low as Gold Shunned on Fed – Bloomberg Think Gold’s Pricey Now? Wait Until It Hits

The post Links 21 July 2015 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, July 20, 2015 - 20:48 Source

By Jennifer Wilson

Prime Minister Tony Abbott’s decision to put his handpicked Speaker Bronwyn Bishop “on probation” demonstrates, as perhaps little else can, his contemptuous disregard for our Parliament and its processes.

As Speaker, it is Bishop’s job to discipline all MPs, thus setting the tone for parliamentary behaviour, and using the authority of her position to ensure that behaviour is within the guidelines and traditions of the Westminster system.

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Monday, July 20, 2015 - 18:59 Source

As New South Wales and South Australia launch discussions on the merits of lifting the rate of the GST from 10 to 15 per cent “in order to pay for the increasing cost of healthcare”, they might want first to consider their health care...

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Monday, July 20, 2015 - 17:58 Source

Arise Sir Patrick and Sir Noel, for you are the chosen ones. Chris Graham reports.

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The Australian Independent Media Network Monday, July 20, 2015 - 17:45 Source

Whilst MPs were banned from attending Q&A, gay marriage was called “decadent” and the price of divorce drastically increased, a far more significant story was buried beneath the news heap. Whilst Australia’s conservatives enacted their culture wars in increasingly petty ways, a far more significant global culture war was illuminated.

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Monday, July 20, 2015 - 17:07 Source

A boat off Dampier with a lot of Vietnamese on it was called by Dutton an ‘on-water matter’ he didn’t comment on though it showed he had not ‘stopped the boats’, and nor had Morrison, or Abbott, or Angus.

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Monday, July 20, 2015 - 16:42 Source

The company in charge of the controversy-plagued centre has been given a dressing down by senators after explaining its response to abuse on the island. Max Chalmers reports.

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Cheeseburger Gothic Monday, July 20, 2015 - 16:42 Source

Not sure why, but we have trolls. Possibly related to a tweet I sent about the Reclaim Australia rallies. You'll notice the occasional one line comment, usually abusing the first commenter in any given thread. I have snuffed out a hand full already.

Those with access to the comment deletion cannon may now exercise free fire privileges.

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Delimiter Monday, July 20, 2015 - 16:34 Source

The Victorian Government has paid Microsoft a whopping $4.4 million for extended support for the now-defunct Windows Server 2003 operating system, in a move which sharply demonstrates the extreme cost of running operating systems which are no longer formally supported by their vendors.

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MacroBusiness Monday, July 20, 2015 - 16:03 Source

Chris Weston, Chief Market Strategist at IG Markets Risk sentiment seems to be increasing, although Asian equity market seem to be consolidating somewhat today. Traders spent much of last week unwinding downside protective hedges in various markets as a number of macro headwinds abate and the focus falls firmly on earnings and growing central bank

The post ASX at the close appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 15:41 Source

It’s panic stations now for WA Treasurer, Dr Nahan, from Yahoo: West Australian Treasurer Mike Nahan refuses to talk about changing the GST unless it means increasing his state’s share of the revenue carve-up. Asked on Monday about NSW Premier Mike Baird’s proposal to lift the GST rate from 10 to 15 per cent, Dr

The post WA prays for a GST miracle appeared first on MacroBusiness.

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Antony Green's Election Blog Monday, July 20, 2015 - 15:38 Source

Could the resignation from the Country Liberals of NT Speaker Kezia Purick bring on an early Northern Territory election?

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Delimiter Monday, July 20, 2015 - 15:33 Source

In which Kotaku alleges an odious culture of gross staff neglect and out and out abuse at national retailer EB Games.

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MacroBusiness Monday, July 20, 2015 - 15:18 Source

The dreadful Atlas raising is complete: So instos coughed up…wait for it…$12 million. More than half the raising came from Atlas contractors.

The post 86 million dumb dollars thrown at Atlas appeared first on MacroBusiness.

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MacroBusiness Monday, July 20, 2015 - 15:09 Source

From the FT: A groundbreaking UN climate-change deal is edging closer, according to a French government document, as countries scramble to avoid a repeat of the last big summit on the issue in 2009, which ended in acrimony. …the paper repeatedly refers to “common understanding” and “shared recognition” on the basic shape of an agreement

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Renew Economy Monday, July 20, 2015 - 15:05 Source

Whatever its form, the love for coal in Australia is going to end badly, like all relationships based on fantasy.

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Delimiter Monday, July 20, 2015 - 14:57 Source

It used to be that the most that early stage Australian software companies could pick up in capital raisings was a few hundred thousand to a couple of million. Complaints about the impossibility of raising a decent amount of venture capital were constant and loud. Wow. How times have changed over the past few years. Today's piece of evidence demonstrates that money is truly flowing in the streets for Australia's growing cadre of technology firms.

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Renew Economy Monday, July 20, 2015 - 14:49 Source

Renewable energy finance vehicles, YieldCos, likely to rapidly outpace their fossil fuel rivals, and represent more than $1 trillion of investment in coming years. Another sign of the global investment shift to wind and solar, a trend that could bypass Abbott's Australia.

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Renew Economy Monday, July 20, 2015 - 14:44 Source

Ergon Energy looks at buy-back of export feed-in tariffs – and offer of battery storage – to shift load away from evening peaks, and save on grid upgrades.

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Renew Economy Monday, July 20, 2015 - 14:42 Source

Tag Pacific subsidiary MPower takes on biggest solar project yet, in $14 million deal to build 5MW PV plant on the South Pacific island nation of Samoa.

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MacroBusiness Monday, July 20, 2015 - 14:39 Source

Big iron ore is holding up today with RIO up half a percent, BHP down 1% (on oil) and FMG flat: Idiocy spreads are now closing again: And juniors dying: Dalian is up 6 points today at 376 as the iron ore restock rolls on. Iron ore should be up 1.5% tomorrow.

The post Big iron holds as futures rally appeared first on MacroBusiness.

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Monday, July 20, 2015 - 14:25 Source

‘Smarter justice, safer communities’ is the headline objective for the Change the Record campaign, launched earlier this year by the National Justice Coalition, a group of leading Aboriginal and Torres Strait Islander, community and...

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