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MacroBusiness Thursday, October 18, 2018 - 11:20 Source

This week’s webinar at 12:30 pm AEST, Thursday 18 Oct is a focus on the drivers of the recent volatility in stock markets around the world: – How to hedge against volatility – What does it mean for your portfolio – Investment opportunities Add to your Calendar. Click here to watch Join us on our live

The post MB Super webinar: Drivers of Volatility appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 11:15 Source

By Leith van Onselen After the Trans-Pacific Partnership (TPP) trade agreement passed the Senate yesterday, Prime Minister Scott Morrison was quick to spin the economic benefits: This landmark agreement is one of the most comprehensive trade deals ever concluded and strips 98 per cent of tariffs for 11 countries with a combined GDP of more than

The post Scott Morrison lies about TPP’s economic benefits appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 11:00 Source

By Leith van Onselen CoreLogic’s Tim Lawless has soothed concerns over Sydney’s falling housing market, claiming the current correction of 6.7% is following historical cycles. From The Australian: Market watchers need not despair at the recent downturn in Sydney property prices that are just mirroring similar trends seen in the past 40 years, according to

The post Sydney’s housing bust is NOT following “historical cycles” appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 10:45 Source

Via Peter Jennings at ASPI: At the beginning of October, US Vice President Mike Pence delivered arguably the most significant policy statement produced by the Trump administration. His speech to the Hudson Institute, a Washington think tank, on ‘the administration’s policy toward China’ sets out the most dramatic shift in relations with Beijing since Nixon and Kissinger’s

The post SinoAmerican Cold War day 14 appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 10:33 Source

Via Domainfax: Menswear chain Roger David has announced that it has been placed into voluntary administration after being unable to cope with an influx of international competitors and the “rapid evolution” of online shopping. …At present, there were 57 stores being managed by more than 300 staff across Australia, the statement said. And the consumer

The post Roger David collapses appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 10:30 Source

By Leith van Onselen The chair of the Migration Council of Australia (MCA) and big business lobbyist for the Australian Industry Group (AIG), Innes Willox, repeatedly claims that Australian businesses are experiencing widespread skills shortages, and uses this claim to justify current mass immigration policy settings. For example, in February Willox argued that “now is not

The post The solution to ‘skills shortages’ is higher wages appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 10:15 Source

By Leith van Onselen In March last year, Transparency International ranked Australia as having the weakest anti-money laundering (AML) laws in the Anglosphere, failing all 10 priority areas. This followed the Paris-based Financial Action Taskforce’s (FATF) mutual evaluation report, which found Australian homes are a haven for laundered funds, particularly from China. In June 2017,

The post Australia has world’s weakest anti-money laundering laws appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 10:00 Source

The Gottiboff panic builds today: It’s true that Australia needed a correction in the housing market and the banks, which were key drivers of the boom, needed to return to proper lending practices. …Bank analyst Brett Le Mesurier from Shaw and Partners says the confessions of the banks will cost the industry an incredible $7.4 billion.

The post Property boffins gasp for oxygen appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 09:45 Source

By Leith van Onselen ABC 7.30 Report last night aired part two of its three-part population special (click to read my previous comments on part one and part two). I haven’t bothered to download it, but you can watch it for yourself here. Last night’s episode focussed solely on whether the Coalition’s ‘migrants to the

The post ABC 7.30 Report shreds credibility in ‘Big Australia’ defence appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 09:30 Source

And people wonder why I call the RBA corrupt, via Domainfax: …the Reserve Bank’s deputy governor Guy Debelle said workers reluctance to take a risk and go after a better paying job was also playing a role. “One of the factors contributing to this is the low level of voluntary job turnover. Workers tend to

The post Time to drain the RBA swamp appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 09:00 Source

Iron ore prices for October 17, 2018: Spot to the moon. Paper too. Steel strong. Coking coal is the trigger and the Chinese ball of money is rolling. In news, Minas Rio is back: Anglo American Plc should restart operations at its Brazilian Minas Rio iron ore mine in November or December and a planned

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

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MacroBusiness Thursday, October 18, 2018 - 08:33 Source

By Chris Becker USD came back to strength in the wake of the hawkish FOMC minutes, quickly taking the legs out from under the tentative bounceback in equity markets. All the major currencies slipped against King Dollar with oil prices also falling on the back of Pompeo’s mewing with the Saudis. Treasury yields continue to

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 07:20 Source

DXY was up firmly last night. EUR was down. CNY is on the verge of breaking lower: AUD was mixed against DMs: Down against EMs: Gold is trying and failing: Oil is fading: And base metals: Big miners were mixed: EM stocks got flushed: Junk fell: As Treasury yields took off: But Bunds were bought:

The post Australian dollar slammed as Fed hawks-up appeared first on MacroBusiness.

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Your Democracy Thursday, October 18, 2018 - 06:53 Source

news

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MacroBusiness Thursday, October 18, 2018 - 06:35 Source

Does anyone remember that fateful declaration by Joy Hockey that the “grown-ups are back in charge”? Grown-ups: Deputy Prime Minister Michael McCormack has sounded a warning to potential rivals after Barnaby Joyce signalled he was open to being drafted back to the Nationals leadership before the next election. Renewed focus on a comeback by Mr

The post Lol, the Coalition appeared first on MacroBusiness.

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Poll Bludger Thursday, October 18, 2018 - 06:04 Source

Plenty of excitement this week from Wentworth, but none whatsoever from BludgerTrack.

The post BludgerTrack: 54.0-46.0 to Labor appeared first on The Poll Bludger.

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Your Democracy Thursday, October 18, 2018 - 05:53 Source

bighead

Damien Hirst's shark is considered one of the most iconic works of British art in the 1990s and helped make its creator the darling of the British postmodern art movement.

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MacroBusiness Thursday, October 18, 2018 - 05:25 Source

Uh oh. Chinese new yuan loans for September were out last night and the numbers are a little worrying. On the surface they appear to be rebounding with good bank loans of 1.38tr yuan and total social financing of 2.21tr yuan: But the PBOC included local government bonds in the TSF number for the first

The post Chinese credit slows even faster appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 00:15 Source

By Leith van Onselen A few months back, it was reported that Sydney has been economically segregated into two, with privileged white collar workers located in the north and east of the city (above the ‘latte line’), and the poorer working class located in the south and west (below the ‘latte line’): The ‘latte line’

The post Mass immigration economic apartheid divides Sydney appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 00:10 Source

By Leith van Onselen The Australian Bureau of Statistics yesterday released its overseas short-term arrivals and departures figures for August, which continued to show a trend rise in the number of inbound visitors, with both Chinese arrivals and student arrivals hitting an all-time high. The number of short-term visitor arrivals fell a seasonal 4.2% in

The post Foreign student arrivals hit record high in August appeared first on MacroBusiness.

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MacroBusiness Thursday, October 18, 2018 - 00:01 Source

Global Macro / Markets / Investing: Uber Proposals Value Company at $120 Billion in a Possible IPO – WSJ SEC Ruling Takes Aim at Stock-Exchange Profits – WSJ Investors Fretting Fed Error Most Bearish on Economy Since 2007 – Bloomberg In Defense of Elon Musk – Popular Mechanics Winklevoss-Backed Stablecoin Soars Above $1 as Tether’s

The post Links 18 October 2018 appeared first on MacroBusiness.

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Renew Economy Wednesday, October 17, 2018 - 21:24 Source

Renew Estate wins development approval for a 120MW solar farm near Wagga Wagga, with plans to add 40MWh of battery storage,

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Renew Economy Wednesday, October 17, 2018 - 18:00 Source

Hyundai Tweets that Kona EV available in Australia mid November, then deletes the Tweet a day later. Confusion ensues.

The post Hyundai mixes messages on Australia arrival date of Kona EV appeared first on RenewEconomy.

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MacroBusiness Wednesday, October 17, 2018 - 17:59 Source

Finally, a decent rebound in stock prices in Asia, as markets follow the dual European/US mood and lift across the board. The problem is with Treasury yields still not lowering and the USD remaining weak, can this bounce be sustained through the week with another earnings season around the corner. The Shanghai Composite finished the session up

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, October 17, 2018 - 17:15 Source

Senator Elizabeth Warren (D-MA) made a fundamental error in chasing the coattails of DNA provenance as a response to the jibes of US President Donald J. Trump. She had been derided by the president as an ordinary “Pocahontas”, and promised at a July 5 rally in Montana a million dollars “to your favourite charity, paid…

The post DNA in Trumpland: Elizabeth Warren’s Native American Dance appeared first on The AIM Network.

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Renew Economy Wednesday, October 17, 2018 - 17:15 Source

Google Maps will now tell you where your nearest EV charging stations is – its charging speed, and its availability. You're welcome.

The post EV charging stations added to Google Maps appeared first on RenewEconomy.

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John Quiggin Wednesday, October 17, 2018 - 16:59 Source

That’s the title of my latest piece in The National Interest. (over the fold)The central point is brilliantly summed up in this clip from Utopia.

A recent near-collision between Chinese and US Navy destroyers has focused new attention on the potential for conflict in the South China Sea and led to the cancellation of a visit to China by Defense Secretary Jim Mattis.

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Harrangue Man Wednesday, October 17, 2018 - 16:24 Source

There's a path junction that curves up a hill that forces me to dismount unless I go the other direction, turn around, and go up it at speed. I failed half way up and had to jam brakes to stop sliding and the angle meant I tilted and nearly tipped; twice. For I went back twice to try it after the first fail to see if it could be done. Ridden up without dismounting,Could not do it without the run up from the other direction.

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The Australian Independent Media Network Wednesday, October 17, 2018 - 16:11 Source

By John Haly “Recalcitrant” is what Prime minister Keating once described Malaysian prime minister Dr Mahathir over economic considerations with APEC. In this century, “recalcitrance” has become a term more readily applied to the current persistently pro-coal conservative Government over issues of ecology. On the 8th of October 2018, as I was leaving Korea, I…

The post Climate recalcitrance appeared first on The AIM Network.

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MacroBusiness Wednesday, October 17, 2018 - 15:03 Source

A new note from ANZ is still bearish on the AUD: Recent US Federal Reserve guidance that the Fed funds rate is “a long way” from neutral and the FOMC may go beyond the neutral rate sparked financial market turbulence with bond yields rising and equities selling off. We see the Fed close to neutrality

The post ANZ: Australian dollar headed to 68 cents appeared first on MacroBusiness.

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