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Oz Blog News Commentary
Renew Economy Wednesday, June 3, 2015 - 10:30 Source

Legislation slashing Australia's renewable energy target from 41,000Gwh by 2020 to 33,000GWh passes lower house and heads for Senate, where Labor has promised to table an amendment to remove the Coalition's provision for burning native wood waste.

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Wednesday, June 3, 2015 - 10:06 Source

A doctor who drew attention to the badly injured boy was referred back to the hospital that initially ignored his complaints.

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Wednesday, June 3, 2015 - 10:03 Source

The history of marriage is much misunderstood, which explains the long-running hysteria about affording it to same-sex couples. Michael Brull explores.

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xkcd.com Wednesday, June 3, 2015 - 10:00 Source

 This item was aged by the same inexorable passage of time that also processes nuts.

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MacroBusiness Wednesday, June 3, 2015 - 09:52 Source

From Bloomie: Six Nigerian central bankers were charged with fraud in an 8 billion naira ($40.2 million) currency “scam”, according to the country’s Economic and Financial Crimes Commission. …Instead of destroying defaced local currency, the officials substituted it with newspaper cut into the size of naira notes, the EFCC said. The fraud was partly to

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MacroBusiness Wednesday, June 3, 2015 - 09:44 Source

By Martin North, cross-posted from the Digital Finance Analytics Blog: The NZ Reserve Bank has published a consultation paper about proposed changes to the rules that banks must follow for high-LVR mortgage loans. The proposals were announced in the Reserve Bank’s Financial Stability Report released on 13 May 2015. They would mean investors in Auckland

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MacroBusiness Wednesday, June 3, 2015 - 09:40 Source

Last night saw a big move in global bond yields. The trigger was the return of European inflation in May registering an overpowering 0.3% on the year: That sent German bunds into a tizzy with the long end flogged 21bps (or 40%) to 0.71%: The US followed despite weak data on the night and its yield

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MacroBusiness Wednesday, June 3, 2015 - 09:25 Source

The AIG services PMI is out: Conditions in the services sector were broadly stable in May 2015. The seasonally-adjusted Australian Industry Group Australian Performance of Services Index (Australian PSI®) was almost unchanged, at 49.6 points this month (down 0.1 points). The services sector last expanded (i.e. above 50.0 points) very mildly in February and March this year. •

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MacroBusiness Wednesday, June 3, 2015 - 09:11 Source

By Leith van Onselen The list of groups that Tony Abbott has put off side with his “strategic” captain’s call not to touch Australia’s wasteful and inequitable superannuation concessions continues to grow with Financial System Inquiry head, David Murray, arguing that inaction to reform super will only make the system more vulnerable. From The AFR:

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MacroBusiness Wednesday, June 3, 2015 - 08:59 Source

Brent oil was up half a percent overnight at $63.30 as I write. The news flow was mixed with OPEC’s meeting vying with an inventory build in the US versus a falling US dollar for a pretty neutral outcome. The indicative LNG contract price lifted a little to $9.54mmBtu: More interesting is some longer term thinking

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Cheeseburger Gothic Wednesday, June 3, 2015 - 08:04 Source

With the US/UK publication of RESISTANCE this week, the reviews are starting to come in and two in particular caught my eye. My Bookish Ways followed up an insightful critique of EMERGENCE with an even more astute reading of Dave's character (or lack thereof) in the second installment.

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MacroBusiness Wednesday, June 3, 2015 - 07:23 Source

By Leith van Onselen In this week’s email newsletter, available for free by signing-up here, managing director, Louis Christopher, shares his experience of a Sydney auction that he attended in the Sydney suburb of Seaforth: The three-bedroom, single level house in Sydney’s Seaforth was nice, but it was nothing special. Set on just 550sqm it

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Wednesday, June 3, 2015 - 05:47 Source

Abbott rejoiced in the ruin of a million lives by saying he was pleased to see house prices, presently the highest in world history, going up even further in Sydney and Melbourne. Dismay flooded through Treasury which thought house prices a national calamity.

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MacroBusiness Wednesday, June 3, 2015 - 00:30 Source

From The Australian late yesterday: Asked again today if he agreed with his top economic adviser, Mr Abbott replied: “Millions of Australians have mortgages and the last thing they want to see is the decline in the value of their most important asset. “(Mr Shorten) is someone who wants to be the prime minister of

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MacroBusiness Wednesday, June 3, 2015 - 00:29 Source

By Leith van Onselen As noted by Houses & Holes already, Prime Minister Tony Abbott has gone full bore for the grey vote, promising no changes to negative gearing or capital gains tax concessions, no changes to super, and now promising ever-rising house prices. On Monday, Abbott explained why he wants to see Sydney house

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MacroBusiness Wednesday, June 3, 2015 - 00:21 Source

For two meetings in a row, the RBA has added two cents to the currency. Last night was helped along by a weak US dollar but the crosses table shows you the damage done by the central bank. All green: This is all the more odd given that the Aussie clearly wants to go lower.

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MacroBusiness Wednesday, June 3, 2015 - 00:03 Source

Here are the iron ore charts for June 2, 2015: Spot up firmly though less than Dalian suggested it should be. Singapore 12 month swaps still largely disinterested. Dalian itself is flat overnight at 440. Both Dalian and spot have technically bullish ascending triangle patterns. Rebar slides on telling us fundamental demand still stinks. Reuters has texture:

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MacroBusiness Wednesday, June 3, 2015 - 00:02 Source

Cross-posted from Investing in Chinese Stocks. From iFeng: 房价还能涨多久:部分地区完全无投资价值 come an article explaining property bifurcation. Price rises may be limited by areas with absolutely no investment value. The entire country has eased policy either via national policy or local easing, with only 5 cities (first-tier plus Sanya) maintaining any buying restrictions. Most areas outside of the first-tier

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MacroBusiness Wednesday, June 3, 2015 - 00:01 Source

Macro, Markets & Investing The Liquidity Time Bomb – Project-Syndicate, Roubini Low Oil Prices a Tough Balancing Act for Petrostates – WSJ El Niño may deliver a boost to oil, gold, other commodities futures – Market Watch Margin Debt At Record Highs! – Short Side of Long Japan’s nuclear plan is bad news for LNG,

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Tuesday, June 2, 2015 - 16:52 Source

George Brandis’ raid on arts funding tells us a lot about the culture wars, writes Ben Eltham.

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MacroBusiness Tuesday, June 2, 2015 - 16:02 Source

Stan Shamu for Chris Weston, Chief Market Strategist at IG Markets Greenback grinds higher It’s been a lacklustre day for Asian equities with even Japanese and Chinese markets taking a breather after the recent run. While equities have been in this lull, the greenback has continued to grind its way higher, this time benefiting from

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Tuesday, June 2, 2015 - 15:23 Source

The claim

“Any changes to the GST are a matter for the states.” Tony Abbott

The evidence

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Renew Economy Tuesday, June 2, 2015 - 14:41 Source

Queensland Competition Authority to lift solar feed in tariff for Ergon solar households after RenewEconomy points out error.

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MacroBusiness Tuesday, June 2, 2015 - 14:33 Source

RBA holds and Captain Glenn puts us all to sleep today with the same old pap: Statement by Glenn Stevens, Governor: Monetary Policy Decision At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent. The global economy is expanding at a moderate pace, but some key commodity prices

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MacroBusiness Tuesday, June 2, 2015 - 14:14 Source

By Leith van Onselen Yesterday I noted that the Paris-Based Financial Action Task Force (FATF) on money laundering had in April released its report on Australia, which found that Australian residential property is a haven for international money laundering, particularly from China. The report also recommended that Australia implement counter-measures to ensure that real estate

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Tuesday, June 2, 2015 - 13:51 Source

Climate change was called this century’s greatest threat to health in the longest paper ever published in The Lancet; and this paper is frequently cited by people advocating for increased action in this area. This sentiment has been echoed in the...

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MacroBusiness Tuesday, June 2, 2015 - 13:45 Source

BHP is down 2% and RIO 1.5% today for no apparent reason beyond weak leads in London. FMG is flat. To the indexes: The idiocy spreads are flat: And juniors mostly bleeding lower again: Dalian is down one from this morning at 440 but still up four from yesterday and 15 from Friday. The spot

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Renew Economy Tuesday, June 2, 2015 - 13:37 Source

Solar installation rates in New Zealand have grown by more than 220% in 2015, over the previous 18 months.

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Renew Economy Tuesday, June 2, 2015 - 13:36 Source

Nominal cycle lifetime, recommended depth of discharge, round-trip storage efficiency: 3 characteristics to understand when choosing energy storage.

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Renew Economy Tuesday, June 2, 2015 - 13:34 Source

UTS team develops breakthrough 'cool roof' solution which could help reduce urban heat island effect, and peak power demand.

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