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MacroBusiness Tuesday, May 26, 2015 - 09:42 Source

This one goes under the no shit, Sherlock, category, from UBS: APRA steps up the pressure for banks to tighten lending standards During December APRA announced it had written to the banks to “reinforce sound lending standards”. Recently Wayne Byres, Chairman of APRA, released a speech with the results of a mortgage serviceability survey completed

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MacroBusiness Tuesday, May 26, 2015 - 08:56 Source

Here are the iron ore charts for May 25, 2015: Spot took off again with Tianjin benchmark up 2% to $61.10. Paper is playing catch up although Singapore is still muted. Dalian was up yesterday but poured it on overnight and is trading at 435 this morning. Rebar average continues its plod to Hell telling

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MacroBusiness Tuesday, May 26, 2015 - 08:24 Source

By Chris Becker A quiet start to the week with UK markets closed and the US Memorial Day long weekend. The focus was therefore on Europe with continued negotiation between Greece and its creditors sending the Euro and stocks down especially in Spain where some the anti-austerity movement in the depressed country is gaining momentum.

The post Macro Morning (US slumber) appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, May 26, 2015 - 06:36 Source

Question Time in the Australian Parliament is an insult to the intelligence of reasoned people. Although it is only watched by those with a professional interest and political tragics like me, it is nonetheless the prism through which the Australian public form a perception of their politicians.

Now and then news services showcase Question Time and voters are left wondering if it’s for real or just a group of bad actors auditioning for play school.

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MacroBusiness Tuesday, May 26, 2015 - 03:04 Source

The RBA is doing some soul-searching, from the AFR: The Reserve Bank of Australia’s main economic forecast and analysis units – key drivers of official interest rate decisions – are bracing for the outcome of a closely held review of the central bank’s forecasting practices. …Conducted by two of the world’s leading experts in economic modelling – former Reserve Bank board member Adrian

The post Can the RBA see itself in its crystal ball? appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 26, 2015 - 03:03 Source

By Leith van Onselen The New South Wales Government continues to cash in on the Sydney property bubble, where home prices have risen by around 35% in less than two years, according to RP Data (see next chart). This rapid lift in housing prices has, of course, been driven by an unprecedented orgy of investor

The post NSW stamp duty receipts continue to surge appeared first on MacroBusiness.

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Tuesday, May 26, 2015 - 00:54 Source

And people wonder why we've cracked down on our comments section... for lovers of irony, this one's for you.

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MacroBusiness Tuesday, May 26, 2015 - 00:01 Source

Global Macro / Markets / Investing: HSBC fears world recession with no lifeboats left – The Telegraph Has the technological revolution been greatly overhyped? – New York Times G7 finance ministers to address faltering global growth – Reuters The Retirement Crisis: Statistics Everyone Should See – Cheatsheet North America: Public-Sector Jobs Vanish, Hitting Blacks Hard

The post Links 26 May 2015 appeared first on MacroBusiness.

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Monday, May 25, 2015 - 21:53 Source

Jennifer Doggett reports from the 13th National Rural Health Conference in Darwin Personal story telling, international law, political campaigning and cutting edge research combined to make a powerful case for a person-centred health system on Day 1...

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Monday, May 25, 2015 - 19:22 Source

Each year Croakey provides a forum for analysis  of  the federal budget and its impact on health and health services. While we like to think that our parliamentarians and civil servants dip into this site for analysis and reaction, they are also...

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Monday, May 25, 2015 - 17:38 Source

The brighter the lights shine, the harder it is to see past them. Josh Dabelstein emerges dazed from Sydney's Vivid Festival.

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MacroBusiness Monday, May 25, 2015 - 16:43 Source

Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets Asia off to a strong start A stronger greenback has worked a treat for Asian equities and seen the region get off to a positive start to the week. The US dollar was firmer against all the majors with a stronger than expected CPI

The post ASX at the close appeared first on MacroBusiness.

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Cheeseburger Gothic Monday, May 25, 2015 - 15:23 Source

Black Widow, if possible, is even sexier.

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Monday, May 25, 2015 - 15:21 Source

Abbott, hungry for corpses again, added to his ‘death cult’ some cadavers he would fly back from Vietnam and, at a cost of millions, rebury in Australia in eighty-eight State Funerals. The cost of this would come out of abolished Aboriginal communities, cancelled help to the disabled, and to mothers who preferred breastfeeding their babies to slitting the throats of chickens for Colonel Sanders. ‘Like the blood-fuelled big road machine in Mad Max 4, I need my daily gallon of blood,’ he said, ‘from corpses however elderly. This rush of blood, whooeee, makes me feel…so much better.’

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Renew Economy Monday, May 25, 2015 - 15:13 Source

Grattan Institute reports makes some valid comments on how to regulate a grid dominated by solar and storage. But in seeking cheap headlines it has buried the important bits by making wrong assumptions about the costs and benefits of solar. Will the industry ever learn?

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Renew Economy Monday, May 25, 2015 - 15:12 Source

Grattan reports gets future policy direction largely right. It's the past where they have made many errors.

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Renew Economy Monday, May 25, 2015 - 15:04 Source

Fired up by RET deal, anti-wind Senator David Leyonhjelm has called on govt to set up an infrasound regulator to monitor noise near wind turbines.

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Renew Economy Monday, May 25, 2015 - 15:02 Source

In 2015, America's 6 largest metropolitan areas are already at solar parity, representing 30m+ people. By 2021, the same could apply to 150 million people.

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Renew Economy Monday, May 25, 2015 - 15:01 Source

Brisbane-based Tritium sends 23 Veefil fast chargers to NZ as part of deal to supply that country's first EV charging network.

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MacroBusiness Monday, May 25, 2015 - 14:46 Source

By Leith van Onselen Barclay’s chief economist for Australia, Kieran Davies, has argued that uncertainty about consumer spending and inflexible expectations of investment returns has made Australian companies less inclined to invest in response to reductions in interest rates. From The AFR: …the abundance of cash on companies’ balance sheets and high hurdle rates – the

The post Low interest rates aren’t spurring businesses appeared first on MacroBusiness.

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Renew Economy Monday, May 25, 2015 - 14:31 Source

Shell justifies its controversial Arctic campaign by saying world needs oil and gas resources. But really, it's Shell which needs the resources.

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MacroBusiness Monday, May 25, 2015 - 14:24 Source

Cross-posted from Martin North and I agree: Following the disclosures in the recent bank results that many were above the APRA target of 10% portfolio growth, and their statements they would work to fall within the guideline, we have seen a litany of changes from the banks, which marks an important change in tempo for

The post MP tipping point for eastern house prices appeared first on MacroBusiness.

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Monday, May 25, 2015 - 14:13 Source

As an anti-marriage cynic, watching the scenes of elation in Ireland reminded me of the best thing about marriage equality.

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MacroBusiness Monday, May 25, 2015 - 13:45 Source

From Forexlive: The Australian dollar is likely to remain in a US78.50¢ to US80¢ trading range through next week, but Westpac continues to forecast further weakness in the currency as the year progresses We expect to see the Australian dollar trading down around US73¢ by year’s end This is close to MB’s 70 cents year

The post Westpac sees 73 cent Aussie this year appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 12:59 Source

It’s a good day for big iron with heavy buying in BHP and RIO both up well over 1% and FMG up 4%. There are a bunch of reasons, paramount being the suddenly falling Australian dollar on Janet Yellen hawkishness, but there is also the strangely large jump in the overnight spot price and firm

The post Yellen gives big iron a shove appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 12:25 Source

By Leith van Onselen The Australian’s Terry McCrann penned a curious piece over the weekend, supporting Tony Abbott’s claims that “there is a world of difference between taxpayer-funded benefits and people’s own savings [superannuation concessions]”: A tax expenditure is not the same thing as an actual expenditure… The critical intersection of all this is the

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MacroBusiness Monday, May 25, 2015 - 12:19 Source

Some snapshots of interviews conducted by Morgan Stanley in China recently: Procurement manager of a larger steel mill Demand Seasonality will remain a big issue in the steel market. This year, June-July will be a tough period for the industry. There is the risk of a reduction in financing with banks pulling loans from smaller mills

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Monday, May 25, 2015 - 12:18 Source

‘It both showed truly the first, feminist counterblast against the gropers, the one-night standers, and the casting-couchers, and the dark heart of their oppressors. And it showed as well the convulsions that followed the Pill, the John Kennedy murder, the Black revolution, the rise of television, and what might be called the Age of Alimony on American and world affairs.’

More on Ellis Gold.

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MacroBusiness Monday, May 25, 2015 - 11:52 Source

Last week CBA, NAB and ANZ all capitulated to APRA on its 10% line on the sand for property loan portfolio growth. Today it’s a full house, from the AFR: Westpac is cutting the lucrative interest rate discounts offered to new housing investors, as lenders act to slow the rapid growth in lending to property investors by charging them more for credit.

The post Westpac joins stampede behind APRA’s property investor line appeared first on MacroBusiness.

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MacroBusiness Monday, May 25, 2015 - 11:42 Source

This week is the all important private capex update from the ABS and today Bloxo offers an orthodox take on where it’s headed: After driving growth for several years, mining investment has peaked and is declining significantly, in line with falling commodity prices. The rebalancing of growth away from mining investment is progressing, but only slowly. Low

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