Blogotariat

100 days out from the 2018 Victorian election, Premier Daniel Andrews claimed that privatisation had failed and that further asset sales were off the agenda: Premier Daniel Andrews will warn against privatisation, austerity and what he calls a “free market free-for-all” in Victoria in a speech laying out Labor’s agenda 100 days from a state election…

The post Liar Victorian Government privatises monopoly motor registry appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Last week, Westpac and ANZ hiked their fixed mortgage rates by 0.5% and 0.9% respectively, which more than doubled fixed rates from a year earlier. Yesterday, Australia’s biggest bank CBA joined the fold hiking its fixed rates by a whopping 1.4% across all loan terms: This has taken CBA’s fixed mortgage rates to more than

The post “Incredible” fixed mortgage rates soar into stratosphere appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

By Gareth Aird, head of Australian economics at CBA: Key Points: Dwelling prices fell by 0.8% across the eight capital cities in June. Annual growth has dipped to 8.7%. Prices fell solidly in Sydney and Melbourne while gains were recorded in Brisbane, Perth and Adelaide. Our expectation for the RBA to increase the cash rate

The post CBA: Fate of housing market in RBA’s hands appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Australia has a record 480,000 job vacancies, with KPMG chief economist Brendan Rynne saying there is a “skills mismatch” between the sorts of jobs available and the skills possessed by those who are seeking work. Boosting immigration and developing training systems that allow people to reskill more quickly are seen as among the solutions to

The post Before opening visa floodgates, use migrants already here appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

The Market Ear with more recession cracks. — Winter IS coming Robin Brooks: “Global recession is coming. Longer-term real US interest rates have kept rising and financial conditions have kept tightening, even as recession worries have grown more acute. So the automatic stabilizer for the economy – that real rates stop rising – hasn’t kicked

The post Recession cracks spread appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

The ferrous complex faded on June 30, 2022: At issue was the Chinese PMI. The wider bounce did not translate to steel. Indeed, the Steel PMI was as bad as it gets: Judging from the steel industry PMI surveyed and released by the China Federation of Iron and Steel Logistics Professional Committee, in June 2022,

The post Daily iron ore price update (as bad as it gets) appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Russian President Vladimir Putin has shot back at Western leaders who mocked his athletic exploits, saying they would look “disgusting” if they tried to emulate his bare-torso appearances.

Mr Putin made the comment during a visit to Turkmenistan on Thursday when asked about Western leaders joking about him at the G7 summit.

Risk sentiment continued to lack confidence overnight as downward volatility returned to equity markets as Wall Street fell nearly 1% in the wake of poor consumer spending data, while European stocks sold off as German unemployment spiked unexpectedly. The USD didn’t benefit as much as expected on the defense, with Euro surging, also helped by

The post Macro Morning appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

DXY eased overnight: AUD has a very bearish chart sitting right on key support: Oil cracked: Metals are flaming, free-falling recession comets: Miners too: EM stocks are clinging to the Chinese rally: Junk is screaming doom: The bond bear market is over: Ominously, stocks are now falling anyway: Westpac has the wrap: Event Wrap US

The post Australian dollar clings to hope as stocks sink appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

AIG with the release: Metals processing is the canary in the energy shock coal mine (pun intended). Full report.

The post Aussie PMI hangs on appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]