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MacroBusiness Monday, May 11, 2015 - 09:45 Source

From The Australian come another sell-side update to one of the MB’s favoured themes: Internationally exposed companies generally gave the most positive presentations at the Macquarie Conference last week, with offshore expansion opportunities a key theme, Macquarie says. Among companies highlighting offshore growth opportunities, Macquarie points to Ramsay Healthcare (RHC), Resmed (RMD), Lend lease (LLC),

The post Mac Bank: Dollar exposed industrials bullish appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 09:40 Source

By Chris Becker Friday being the monthly non-farm payroll (NFP) unemployment release in the US gives us the direction of risk sentiment for the remainder of the month. Or so one would think, except the Chinese authorities (in their infinite wisdom) deciding to cut interest rates over the weekend muddy the waters a little more.

The post Macro Morning (trading week) appeared first on MacroBusiness.

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Monday, May 11, 2015 - 09:27 Source

It's been a tough five weeks for Big Coal. Thom Mitchell reviews Adani's recent court case, and highlights some of the most damaging evidence.

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MacroBusiness Monday, May 11, 2015 - 00:50 Source

After a year of fiscal deterioration, last year’s Budget “emergency” has vanished, from Peter Martin: Tuesday’s budget is genuinely new. Two of the six-member expenditure review committee that put it together weren’t there before – the new Social Services Minister Scott Morrison and the new Assistant Treasurer Josh Frydenberg​. The three top bureaucrats who put it together

The post Australia’s last chance Budget appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:45 Source

Courtesy of Saul Eslake and Alex Joiner at BofAML: What will be in the Budget In keeping with what has become the normal practice over the past decade or so, many of the decisions to be contained in next week’s Budget have been ‘preannounced’ over the past few weeks. As a result, we know that

The post What’s in and what’s out of the Budget? appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:41 Source

From Michael West, one the few journalists left in Australia: …last week when a fund manager touched base and bewailed, albeit with good reason, how real estate agents were still excluded from all obligations under Australia’s Anti-Money Laundering and Counter-Terrorism Financing Act. …The reason for this AML (Anti-Money Laundering) apartheid is the reluctance of government to ping other sectors

The post At war with terror, except in real estate appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:40 Source

Click to view Core Logic-RP Data’s latest weekly housing market update, which provides a useful snapshot of the housing market as at 19 April 2015. 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;

The post RP Data weekly housing market update appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:40 Source

From RP Data: Combined capital city weighted clearance rate remains steady, showing buyer confidence continues. The number of homes taken to auction this week fell slightly to 2,385, compared with 2,540 over the previous week. However, the preliminary clearance rate of 78.2 per cent has remained steady, down only slightly from 78.6 per cent last week.

The post Auction clearances remain strong appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:19 Source

The government’s counter-revolutionary task force on climate change has chalked up two spectacular wins over the weekend. From the AFR: Danish political scientist Bjorn Lomborg has blamed “toxic politics, ad hominem attacks, and premature judgment” for the University of Western Australia’s decision to pull out of his planned Australia Consensus Centre which would have advised on the

The post Evil geniuses of climate conspiracy exposed! appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:18 Source

Our old mate Crispin Odey is back and not in a good way, from the FT: Odey Asset Management founder Crispin Odey’s flagship hedge fund slumped 19.3 per cent last month, after it was caught out when the Australian dollar strengthened against the US dollar. The large one-month move, from one of London’s best-known hedge

The post Australian dollar rally hammers uber-bear appeared first on MacroBusiness.

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Monday, May 11, 2015 - 00:16 Source

Correspondence between former Queensland police officer and former chief magistrate Chief Justice Tim Carmody, the President of the Court Of Appeal Justice Margaret McMurdo, Justice Hugh Fraser and others clearly demonstrates that an unwise political decision on the part of then Liberal National Party Premier Campbell Newman in 2014 will not be easily rectified.Scroll to

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MacroBusiness Monday, May 11, 2015 - 00:10 Source

Some good news for the world on Friday night as the US jobs report hit expectations, from the BLS: Total nonfarm payroll employment increased by 223,000 in April, and the unemployment rate was essentially unchanged at 5.4 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in professional and business services, health

The post US jobs bounce back appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:06 Source

Over the weekend, The Australian did a good job of retracing Colin Barnett’s boom: …An early warning sign came when the government, just months after being elected, decided to splash some of its cash by agreeing to a new pay deal for WA’s teachers that made them the highest paid in the nation. Few begrudged the

The post How Colin blew the boom appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:04 Source

Here are the iron ore charts for May 9, 2015: The good bid for spot continues, strongly indicting restocking goes on.  However, wider markets are still much less convincing. Singapore 12 months swaps are stalled and backwardation is getting wider. Dalian 6 month futures look better and were up to 442 Friday night but rebar

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

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MacroBusiness Monday, May 11, 2015 - 00:03 Source

Friday night saw a stable Brent oil price at $65.48. The big news for the evening was sharp slowing in the falling US rig count down just 11 to 894:   Some basins are now expanding rigs again, from Bloomie: For the first time in five months, a rig in the Williston Basin, where North

The post Daily LNG price update (frack is back) appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:03 Source

Over the weekend China released its April inflation figures and there was little to cheer about. The CPI is weak and the PPI unchanged from March at -4.6% suggesting no easing oversupply in the industrial economy or, put another way, ongoing hard landing: Note the previous undulations in the PPI post 2011 and how each

The post China cuts rates as inflation still in hard landing appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:02 Source

From the FT: …developers surveyed by China Confidential, an FT research service, reported a surge in activity in April. Of 300 surveyed in 40 cities nationwide, 55 per cent reported an increase in sales from the previous month, taking the China Confidential Home Sales Index to 66.9 (a reading above 50 indicates growth). …While upgrader

The post How strong are China’s property greens shoots appeared first on MacroBusiness.

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MacroBusiness Monday, May 11, 2015 - 00:01 Source

Macro/Markets/Investing Currencies’ Wild Ride to Get Wilder as U.S. Rate Rise Beckons – Bloomberg Why a second emerging market debt storm could be worse than the first – Telegraph Investors get stark reality check as global bond market comes unglued – Financial Post The global bond bubble is finally bursting – and here is why –

The post Links 11 May 2015 appeared first on MacroBusiness.

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The Political Sword Sunday, May 10, 2015 - 18:30 Source

In this little exercise I have gone through commonwealth government budgets from 1999‒2000 to 2013‒14 to study changes in the figures.

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The Australian Independent Media Network Sunday, May 10, 2015 - 12:12 Source

“The economic metaphor came to be applied to every aspect of modern life, especially the areas where it simply didn’t belong. In fields such as education, equality of opportunity, health, employees’ rights, the social contract and culture, the first conversation to happen should be about values and principles; then you have the conversation about costs, and what you as a society can afford.”

“Whoops…Why everyone owes everyone and no one can pay!” by John Lanchester:

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Sunday, May 10, 2015 - 00:16 Source

Community Housing Limited is an international public benevolent institution which in 2014 had a surplus of over $11.1 million, total rental income of over $36.6 million and paid no income tax.In Australia its combined grant and incentive income in that same year was over $17.7 million.It has 5,600 properties under management in this country according to Managing Director Steve Bevington [Macleay Argus, 12 April 2015, Leonard's light bulb woes]In the Coffs Harbour area the company appears to have taken possession of 

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Sunday, May 10, 2015 - 00:15 Source

Some of the people who opposed the removal of landmark camphor laurel trees from McLachlan Park.Photo from the IndependentThe Daily Examiner 1 May 2015:Majority viewMayor Williamson and the councillors who failed to support the motion to save the trees should never be voted into office again.They

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Saturday, May 9, 2015 - 16:19 Source

A recent Victorian case has highlighted widespread community misunderstandings about 'false' rape allegations, writes Kate Pern.

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Saturday, May 9, 2015 - 15:43 Source

The departure of Christine Milne from politics leave s a big hole, but Simon Sheikh believes the party is bursting with opportunity.

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Saturday, May 9, 2015 - 15:19 Source

One of the world’s richest men has thrown his weight behind a campaign to save the reef. But not everyone is impressed. Thom Mitchell reports.

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The Australian Independent Media Network Saturday, May 9, 2015 - 14:33 Source

 

By Peter Martin 

At the risk of being accused of being  a little presumptuous, I’ve never won or lost an election.

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Drag0nista's Blog Saturday, May 9, 2015 - 14:16 Source

The week in politics: Bill Shorten’s latest zingers, the ‘wait in the car’ mystery, and Christine Milne’s WTF moment. For The New Daily.Filed under: Politics Tagged: Bill Shorten, Budget, Christine Milne, featured, Greens, leadership, Richard […]

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The Australian Independent Media Network Saturday, May 9, 2015 - 11:51 Source

By Ben Clark

I pity Maurice Newman. For one thing, his conspiratorial rants are beginning to have the distinct hysterical tone of delusion, sounding much like an evangelical doomsayer yelling about mankind’s coming reckoning whilst pedestrians avert their eyes to the pavement. Moreover, his entire understanding of the economy, politics and life itself is unravelling before his eyes. Nature is disproving laissez-faire economics.

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The Australian Independent Media Network Saturday, May 9, 2015 - 10:33 Source

Watching Tony Abbott and Joe Hockey the other night on television sitting together in one of their offices pretending to look over their latest brainchild, the 2015 budget, I couldn’t help but feel embarrassed.

To see our two most senior government members, one so stern faced, trying to look so accomplished, the other like he didn’t have a clue, parading in front of a compliant media, was near laughable.

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MacroBusiness Saturday, May 9, 2015 - 10:15 Source

The long awaited Senate Affordable Housing Report – 8 May 2015 was released late on Friday afternoon.  It is a very large (496 pages) pdf file. h/t Patrician & Stomper The nature of these things is for a lot of very interesting information, assumptions, biases and quotes to be buried deep in the various sections, with the

The post Senate Affordable Housing Report debuts appeared first on MacroBusiness.

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