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MacroBusiness Wednesday, February 13, 2019 - 08:43 Source

By Chris Becker  Risk markets were buoyed last night by another government shutdown aversion and hope that the US/China trade talks will amount to something, as rationale repairs Trumps ridiculous policies. The USD reversed course as a result, with both Pound and Euro surging, while US Treasury yields lifted again to a new weekly high.

The post Macro Morning appeared first on MacroBusiness.

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THE BLOT REPORT Wednesday, February 13, 2019 - 08:12 Source

Some time ago, I wrote a piece about the federal government ‘going full Trump’ in that members of parliament seem to believe they can get away with bald-faced lies and not be held to account. This has been exacerbated either by some real journalists allowing them to get away with it, or by the lies being expressed on Murdoch broadcast media (e.g. Sky News Australia)2 or regurgitated by ‘ruperters’ in Murdoch’s print media3. Now Scott Morrison is taking his propaganda directly from the moronic Trump almost verbatim. 

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Poll Bludger Wednesday, February 13, 2019 - 06:57 Source

Shortly after Newspoll found the Coalition's tentative momentum grinding to a halt, Essential gives them their worst result since August.

The post Essential Research: 55-45 to Labor appeared first on The Poll Bludger.

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MacroBusiness Wednesday, February 13, 2019 - 06:49 Source

DXY fell away last night as EUR caught a bid for no reason and CNY bounced: That was enough to drive the Australian dollar higher against DMs: It was mixed against EMs: Gold firmed: Oil too: Base metals said “no”: Big miners were mixed: EM stocks flew: With US and EM junk: Treasuries got caned:

The post Australian dollar lifts with global stock surge appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 05:49 Source

Lots of hysteria around borders today as the Coalition friends set up for another Tampa election. Paul Kelly personifies the neurosis nicely: Labor has changed its stance, its policy and its heart on border protection. This is the enduring ­element in the present dramas. It is high-risk politics and misconceived policy by Bill Shorten that

The post Coalition and friends should crowd fund a new Tampa appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 00:15 Source

By Leith van Onselen While residents of Sydney and Melbourne are suffering from crush-loaded roads, trains, schools, hospitals, and prisons, as well as hideously expensive housing, toll road company Transurban yesterday reported a massive lift in toll road revenues as Australia’s mass immigration ‘Big Australia’ policy continues to feed it customers. According to Transurban: Average

The post Transurban continues to privatise gains from mass immigration appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 00:12 Source

By Leith van Onselen CoreLogic’s daily house price index for 12 February, released yesterday, revealed that Perth dwelling value declines have hit a record 17%: This is by far the biggest bust on record for Perth, with the current 16% decline far eclipsing prior price corrections, both in terms of size and duration: As noted

The post Perth property value losses hit 17% appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 00:10 Source

By Leith van Onselen SQM Research has released its rental vacancy series for January, which revealed a mostly seasonal 0.3% decline in the national vacancy rate over the month but also a 0.1% decline over the year: Over the year, increases in vacancies were recorded in Sydney (+0.9%), Melbourne (+0.1%), Darwin (+0.7%), and Hobart (+0.1%),

The post Sydney rental vacancies continue to trend higher appeared first on MacroBusiness.

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MacroBusiness Wednesday, February 13, 2019 - 00:01 Source

Global Macro / Markets / Investing: Vanguard investment chief sees near 50-50 chance of recession in 2020 – Reuters Plunge in crypto sets stage for Facebook and other tech giants to hire blockchain experts – CNBC Inflation: Stress-Testing the Phillips Curve – FRBSF The 34-Year-Old Hedge Fund Manager Who Bet Everything On A Stock That

The post Links 13 February 2019 appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 21:47 Source

Labor finally found enough courage to actually remember we are dealing with people when we talk about the folk living in Hotel California (you can check out any time you want but you can never leave) accommodation on Manus and Nauru. But let’s not forget that it was actually the courage of the crossbench that…

The post There are better ways to “stop the boats” than by destroying people’s lives appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 20:18 Source

Yeah, it’s satire, right? It’s a newspaper article from next week. February 23rd, 2019  BOAT ARRIVES ON CHRISTMAS ISLAND A boat of asylum seekers/illegal immigrants/rapists and murders (this depends on whether you read ABC/Murdoch/radio shock jocks) has landedon Christmas Island. “This is on Bill Shorten’s head,” Peter Dutton announced to a waiting media, who watched…

The post So Why Wasn’t That Boat Turned Back? appeared first on The AIM Network.

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Renew Economy Tuesday, February 12, 2019 - 18:08 Source

UK will be first right-hand drive market to get Model 3 configurator, which means that Australia will not be far behind.

The post UK to get Model 3 configurator within 2 months, Australia to follow appeared first on RenewEconomy.

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Renew Economy Tuesday, February 12, 2019 - 18:08 Source

My Zero doesn't work again, and I'm getting so frustrated I may have to buy a fossil fuel bike.

The post Electric motorcycles – promises, promises? appeared first on RenewEconomy.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 17:56 Source

The case of Hakeem Al-Araibi vs Behrouz Boochani and countless genuine refugees (assessed by UNHCR) in Australian offshore detention on Manus Island and Nauru By Jon Chesterson   Can someone, anyone tell me what makes Hakeem Al-Raibi’s case so special and different from say Behrouz Boochani or any of the other refugees on Manus Island and Nauru?…

The post What a good boy am I? So what’s the go here? appeared first on The AIM Network.

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MacroBusiness Tuesday, February 12, 2019 - 17:30 Source

The poor showing on Wall Street overnight was brushed aside here on Asia with solid lifts across all stock markets today with a big return from Japanese stocks due to the long weekend and much weaker Yen. The Shanghai Composite is up nearly 0.6% going into the close, currently at 2671 points and building on

The post Macro Afternoon appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, February 12, 2019 - 16:43 Source

I had no idea this was even in development, let alone as a six part TV series. Directed by George Clooney!

Also I have no idea where it'll run locally, but wherever that is, I'll be there. I fucking LOVED this book when I read it, and six or seven hours of peak TV feels just about right to deliver it to the screen.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 16:35 Source

Writing in the Herald Sun, Chris Collins (11/1/19) argues that the Nordic countries have never been “socialist” because they have not conformed to the original Marxist definition of the centralisation of the means of production in state hands. In reality, though, there were always a variety of definitions, and even Marxists themselves have revised their understandings.…

The post The Prospects for Socialism Today appeared first on The AIM Network.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 15:50 Source

By Keith Antonysen  If you want some hope of a future for your children you will not vote LNP – in my opinion – in the coming Federal election, or any other conservative group. The LNP will try to push the view they are being responsible in relation to climate change; official emission figures show…

The post Danger appeared first on The AIM Network.

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MacroBusiness Tuesday, February 12, 2019 - 15:34 Source

Via The Guardian: The banking royal commission findings appear to have delivered a political fillip to Labor, with the opposition extending its lead over the Coalition 55% to 45% on the two-party-preferred measure. The new Guardian Essential poll, taken before Monday’s major party brinkmanship on asylum seekers in the lead-up to the resumption of parliament, puts the government’s primary

The post Essential: Labor romps ahead as Scummo fudges Hayne appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, February 12, 2019 - 15:16 Source

“Al-Araibi’s case has become a crucial test of world football’s commitment to human rights.” So observed the director of the Castan Centre for Human Rights at Monash University, Sarah Joseph, in a piece last month. “Is this commitment real, or is it a public relations statement tossed aside when the going gets tough?” Joseph was…

The post Football, Refugee Rights and Hakeem al-Araibi appeared first on The AIM Network.

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MacroBusiness Tuesday, February 12, 2019 - 15:00 Source

And quite rightly. Mortgage finance is getting slaughtered: Investors -28% y/y; but owner-occupiers also -16%; while developers weaken Investors slid another 4.6% m/m & 27.8% y/y. But, owner-occupiers also materially weakened (-6.4% m/m, -16.2% y/y), with similar falls across both new & established. Worryingly, even first home buyers retraced sharply after previously recovering (-8.0% m/m,

The post UBS doubles house price crash despite rate cuts appeared first on MacroBusiness.

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Renew Economy Tuesday, February 12, 2019 - 14:50 Source

EnergyAustralia won't meet its renewable energy target quota this year, but will use the funds from the sale of certificates to install solar and batteries in charities.

The post EnergyAustralia to buy solar and batteries for charities, funded by RET shortfall appeared first on RenewEconomy.

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MacroBusiness Tuesday, February 12, 2019 - 14:15 Source

Funny stuff in a carrion comfort kind of way, via AFR: Existing owner-occupier variable rates with principal and interest payments will rise by six basis points and those with interest only by 16 basis points. The hikes, which apply from February 21, impact all loan to value (LVR) bands. As mortgages and house prices crash.

The post Macquarie hikes mortgage interest rates appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 12, 2019 - 14:00 Source

Worth noting today that McGrathmaggedon has passed through -88% today since its preposterous float: No news since the December update but the mortgage crash is all we need to know. Surely it is now one of the great IPO failures of Australian history. Perhaps not the Dot Bomb as yet but it’s not over either…

The post McGrathmaggedon enters annals of great IPO failures appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, February 12, 2019 - 14:00 Source

I am shocked, shocked I tell you, to discover a structural inequity fashioned into the very apparel with which our ladies must enclothe themselves.

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MacroBusiness Tuesday, February 12, 2019 - 13:30 Source

I don’t publish it often but today is noteworthy as the ANZ weekly consumer confidence number tanked 3.4% to 114 continuing its downwards trend. From ANZ: Consumer confidence took a beating last week, most likely on the back of the RBA’s downgrade to its economic outlook. The fall reversed all the gains and then some since

The post ANZ consumer confidence tanks appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 12, 2019 - 13:15 Source

By Leith van Onselen The NSW Government has reportedly rolled-out the second phase of its $1.1 billion Social and Affordable Housing Fund (SAHF), which aims to build another 1,000 homes for primarily older residents. The roll-out is part of the Government’s aim to deliver 27,000 social and affordable homes over ten years. From The AFR: The

The post NSW rolls out piss weak social housing fund appeared first on MacroBusiness.

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Renew Economy Tuesday, February 12, 2019 - 12:53 Source

Greens unveil $1.25bn plan to make solar and storage compulsory on all new homes, and deliver solar to low-income households, renters and apartment dwellers in NSW.

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MacroBusiness Tuesday, February 12, 2019 - 12:45 Source

By Leith van Onselen According to a Newspoll of more than 1500 people, Australian voters are more interested in spending on public services than personal income tax cuts or cutting government debt. 33% believe increased funding for services should be the top priority, followed by 30% who want government debt to be dealt with. Coming in

The post Aussies want public services over tax cuts appeared first on MacroBusiness.

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MacroBusiness Tuesday, February 12, 2019 - 12:21 Source

The Aussie dollar did a round trip this morning as it misinterpreted today’s data dump. The NAB business survey rebounded modestly which took the AUD higher but ABS mortgages absolutely plunged and, frankly, are suggesting firmly that Australia is in the grip of house price crash: Business conditions are obviously a trailing indicator versus that

The post Australian dollar pumps and dumps on mortgage crash appeared first on MacroBusiness.

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