Blogotariat

Oz Blog News Commentary
MacroBusiness Monday, June 30, 2014 - 14:12 Source

I noted last week that after Clive Palmer destroyed both the carbon price and “Direct Action” that Australia was now completely reliant upon the Renewable Energy Target (RET) to deliver meaningful carbon mitigation: Is the RET up to it? That depends upon how big it is and what your carbon reduction target is. Australia has pledged […]

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MacroBusiness Monday, June 30, 2014 - 13:19 Source

By Leith van Onselen In a blow for Australian consumers, and a win for Foxtel, the launch of online television streaming services by Netflix has been postponed to at least the second half of 2015, with the company instead focusing its attention on expanding into Europe. From The AFR: Netflix is understood to have held […]

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MacroBusiness Monday, June 30, 2014 - 13:18 Source

Chinese markets are building on Friday’s weak paper market action with decent falls this morning for iron ore futures, down 1.5% to 702 yuan in Dalian and rebar futures down the better part of 1% s well. Miners are mixed but down with FMG taking the brunt of the selling, down 3%. Here are the […]

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MacroBusiness Monday, June 30, 2014 - 12:29 Source

From The Nanfang, here’s one to excite The Pascometer: A proposed megacity encapsulating parts of Beijing, Hebei and Tianjin moved closed to reality yesterday with the announcement of a so-called “Beijing Seventh Ring Road”, reported Sina News. Gao Jinhao, head of the Hebei Provincial Office of Traffic and Transport, announced the plans on the department’s official website. […]

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MacroBusiness Monday, June 30, 2014 - 12:01 Source

The TD Securities/Melbourne Institute Inflation Gauge for June is out and is zero month on month versus 0.3% prior. The year on year figure is 3.0% versus 2.9%in May. The ‘trimmed mean’ measure is in at +0.2% and 3% respectively. It’s been sliding now from high levels for three months. More later. Share on Facebook Share on […]

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MacroBusiness Monday, June 30, 2014 - 11:53 Source

From the AFR today comes old news: A growing number junior mining explorers have stopped exploring altogether, as falling commodity prices and difficult funding conditions hit the small end of Australia’s mining sector. According to research provided exclusively to The Australian Financial Review by accounting firm BDO, the percentage of junior explorers in Australia’s 800-strong sector that […]

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MacroBusiness Monday, June 30, 2014 - 11:52 Source

By Leith van Onselen The Reserve Bank of Australia (RBA) today released its private sector credit aggregates data for the month of May: A chart showing the long-run breakdown in the components is provided below:   Personal credit growth (-0.3% MoM; -0.4% QoQ; 0.3% YoY) and business credit growth (0.2% MoM; 0.7% QoQ; 2.7% YoY) […]

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Drag0nista's Blog Monday, June 30, 2014 - 11:39 Source

Green groups struggle to turn anger to action. Weekly column for The Drum.Filed under: Politics Tagged: Al Gore, climate action, climate change, climate institute, Clive Palmer, environmentalists, green advocates

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Antony Green's Election Blog Monday, June 30, 2014 - 11:39 Source

After a double dissolution election, how are long-term and short-term positions allocated to newly elected senators?

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Monday, June 30, 2014 - 11:05 Source

In the second of a three-part series, Carole Reckinger and Antoine Lemaire explore some of the reasons why the HIV epidemic is spreading.

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MacroBusiness Monday, June 30, 2014 - 11:02 Source

By Leith van Onselen The Housing Industry Association (HIA) has today released its new home sales data for May, which registered its first fall in five months, with total new home sales declining by 4.3% over the month, driven by falls in both the detached house (-2.2%) and unit (-16.1%) segments: “Further upward momentum may […]

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The Australian Independent Media Network Monday, June 30, 2014 - 10:56 Source

All those comments pertaining to my last letter were just what I would have expected from the left wing latte sipping loonies of the proletariat. The chardonnay drinking Bolsheviks without any intelligence. All they could do was criticise a few grammamatical errors. Nothing better to do.

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MacroBusiness Monday, June 30, 2014 - 10:47 Source

By Leith van Onselen The Victorian Government has announced worthwhile reforms to Victoria’s taxi industry, breaking down some of the licencing barriers and networking requirements that have stifled competition in the industry. From The AFR: The changes include replacing a ­system of limited-release perpetual licences with an open-entry system, with leases from the government for $22,000 […]

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MacroBusiness Monday, June 30, 2014 - 10:45 Source

From Chris Joye today at the AFR: Foreign investors are likely key drivers of the Sydney and Melbourne housing booms, according to new UBS data, potentially buying up to 40 per cent of all newly constructed homes, and accounting for up to one in eight Australian sales overall. UBS’s research implies that foreign buyers could […]

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MacroBusiness Monday, June 30, 2014 - 10:14 Source

Callam Pickering continues to support MB’s push for Australian macropudential today: The introduction of macroprudential policies is not about saying a bust is imminent — both the UK and New Zealand economies appear set for reasonably strong growth over the next couple of years. Instead it is about risk management. It is the acknowledgment that […]

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xkcd.com Monday, June 30, 2014 - 10:00 Source

'Dude, why can't you just be a normal roommate?' 'Because I'm coming TOWARD you!'

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MacroBusiness Monday, June 30, 2014 - 09:47 Source

Today is the last day in the job for the chairman the Australian Prudential Authority (APRA), John Laker. As chairman for 11 years, Laker oversaw the rebuilding of APRA after Peter Costello gutted it following the HIH Insurance collapse in 2001. John Laker’s tenure at APRA is widely regarded as a success and prima facie […]

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WixxyLeaks Monday, June 30, 2014 - 09:46 Source

The other day I read an article in the Sydney Morning Herald that quite annoyed me.

It was not the way it was written, or whether I had doubts over its content. I just found the subject matter offended me given the public discussion since last September over what Tony Abbott and Joe Hockey call the age of “entitlement”.

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MacroBusiness Monday, June 30, 2014 - 09:06 Source

By Leith van Onselen The SMH’s economics editor, Ross Gittins, has today thrown a wet blanket over the privatisation debate, arguing that it is the degree of competition in the given market that will ultimately determine whether an asset sale will be in the public’s interest, while cautioning against both the Coalition’s widespread privatisation agenda […]

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MacroBusiness Monday, June 30, 2014 - 08:17 Source

Right now markets don’t care about anything. They’re satisfied that all risks are contained and are pursuing the” trend is your friend” strategy that has dominated since the rise of Alan Greenspan. Everyone now expects only a gentle rise in US interest rates and wider risks only reinforce this assumption. As such, everyone is partying […]

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MacroBusiness Monday, June 30, 2014 - 07:51 Source

By Leith van Onselen From one of Australia’s biggest property rentiers, Harry Triguboff, comes more twisted logic, with Triguboff appearing before the House of Representatives inquiry into foreign ownership to on the one hand admit that housing affordability has gotten so bad that parents need to help their children enter the property market: Parents should […]

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Cheeseburger Gothic Monday, June 30, 2014 - 07:49 Source

Still on deadline. Will be for another month. Had to share this one though. We have a change bucket in our kitchen. Whever I come home I throw my spare change in there. When it fills up, the bucket is worth about $500 depending on the ratio of $2 coins to fifty cent pieces.

It's being put towards a travel fund for Anna, for when she finishes high school.

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Peter Garcia-Webb Monday, June 30, 2014 - 01:24 Source


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MacroBusiness Monday, June 30, 2014 - 00:30 Source

Cross-posted from Martin North’s DFA blog. As we highlighted recently, the Bank of England is supporting the imposition of loan to income (LTI) ratios on banks in the UK, as a way to manage risks in the housing sector. So today, we start to explore loan to income data in Australia, captured though our rolling programme […]

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MacroBusiness Monday, June 30, 2014 - 00:29 Source

Click to view RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 29 June 2014. This week’s report includes: Latest weekly dwelling value results; Auction results & clearance rates; Latest median house & unit prices; Average time on market & vendor discounts; Mortgage market activity; and […]

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MacroBusiness Monday, June 30, 2014 - 00:28 Source

By Leith van Onselen The national auction clearance rate continues to strengthen, driven by Sydney. According to RP Data, the weighted average preliminary auction clearance rate was 68.1% over the weekend, which was up from 66.6% last weekend. Sydney’s clearance rate rose by 1.3% to 73.2%, whereas Melbourne’s rose only slightly to 69.3% (last weekend […]

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MacroBusiness Monday, June 30, 2014 - 00:22 Source

Here are the iron ore charts for June 27, 2014: The paper market squeeze ran out of puff across all markets. Physical managed a little better including a 1.5% rise in the Baltic Dry capesize component. It’s off its early May lows but still very weak and signaling no restock: A mixed performance in paper […]

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MacroBusiness Monday, June 30, 2014 - 00:21 Source

The two companies most responsible for the plunging iron ore price, FMG and RIO, have today launched a two-pronged assault on increasingly bearish investors. FMG’s chief financial officer, Stephen Pearce, is out claiming $110 is the new price floor, from The Australian: …“What we’ve seen over the last six months, since September last year, is a […]

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MacroBusiness Monday, June 30, 2014 - 00:20 Source

  From Phat Dragon: Phat Dragon takes more than a passing interest in the monthly industrial (manufacturing, mining and utilities) profits release. This is where one ought to look for signs of balance sheet stress on a sector by sector basis. In terms of the headline measures profit growth slowed marginally to 9.8%ytd in May […]

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MacroBusiness Monday, June 30, 2014 - 00:19 Source

Cross-posted from Investing in Chinese Stocks. This story was going around on Friday: China Builds Its Own Manhattan — Except It’s a Ghost Town China’s project to build a replica Manhattan is taking shape against a backdrop of vacant office towers and unfinished hotels, underscoring the risks to a slowing economy from the nation’s unprecedented investment […]

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