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MacroBusiness Friday, January 24, 2020 - 12:20 Source

From CoreLogic’s quarterly auction report: CoreLogic auction activity analysis found that over the 3 months to December 2019, the combined capital cities clearance rate came in at 70.3 per cent from 26,923 auctions; a significant jump on the previous quarter where auction volumes were 16,730 and returned a clearance rate of 69.9 per cent. The

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MacroBusiness Friday, January 24, 2020 - 12:00 Source

At The Australian, the Doomsday Clock is about to strike midnight: The keepers of the Doomsday Clock have moved the symbolic countdown to global disaster to the closest point to midnight in its 73-year history, citing “existential danger” from nuclear war and climate change. Funnily enough, there was no mention that the Doomsday Clock also

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Renew Economy Friday, January 24, 2020 - 11:42 Source

India’s renewable energy capacity increased to 86GW in 2019, according to new figures from JMK Research & Analytics.

The post India installed 7.5GW of solar and 2.4GW of wind in 2019 appeared first on RenewEconomy.

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MacroBusiness Friday, January 24, 2020 - 11:40 Source

Via FTAlphaville: While fears over coronavirus continue to spread in China (and just now, in Taiwan), there’s news of another ailment watchers of the People’s Republic have been concerned about for the past decade: corporate debt. Via a press release from real estate developer China Evergrande: The Board is pleased to announce that on 21 January 2020, the Issuer, Hengda

The post Inside a Chinese developer’s dodgy balance sheet appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 11:25 Source

Fresh from Reuters, it’s now 830 cases and 25 deaths in China. Accelerating transmission and the mortality rate has jumped to 3%. Alas, it’s on like Donkey Kong. Markets up.

The post Coronavirus numbers rocket appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 11:20 Source

Bill Evans joins the deluge: Westpac now expects that the Reserve Bank will delay its next cut in the cash rate to April with the final cut to 0.25% occurring in August. Prior to the release of the surprisingly strong December Employment Report we had expected the cuts to be timed for February and June.

The post Bill Evans pushes back rate cut appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 11:00 Source

Via SCMP: The Chinese Centre for Disease Control has identified 15 hospital staff as being infected in the coronavirus outbreak in Wuhan city, but two sources with direct knowledge of the situation said doctors and nurses were being stricken at a much faster pace. …One patient – a suspected super-spreader, or highly virulent carrier of

The post Coronavirus 10x worse than SARS? appeared first on MacroBusiness.

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xkcd.com Friday, January 24, 2020 - 11:00 Source

LOOK, THE LATENCY FALLS EVERY TIME YOU CLAP YOUR HANDS AND SAY YOU BELIEVE

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MacroBusiness Friday, January 24, 2020 - 10:40 Source

Yesterday’s ABS labour force release for December revealed a mixed outcome for Australia’s youth labour market – i.e. those aged 15 to 24 years old – with annual jobs growth falling, but unemployment and underemployment improving. The trend headline unemployment rate fell further to 11.59% in December: However, total employment growth for those aged 15-24

The post Full-time jobs evaporate for Australian youth appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 10:20 Source

Transparency International has released its latest corruption index, which reveals that Australia is among 21 nations where perceived corruption has worsened “significantly” over the past eight years. From The Guardian: Australia scored 77 from a possible 100, the same mark as last year. It means Australia has again failed to reverse a longer-term decline of

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Renew Economy Friday, January 24, 2020 - 10:04 Source

Australia's bushfire crisis underscores urgent need to decentralise Australia's electricity grid. Building up networks of solar batteries is the quickest, easiest, cheapest answer.

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MacroBusiness Friday, January 24, 2020 - 10:00 Source

Yesterday, a bunch of banks pushed back their rate cut expectations following the supposedly “strong” jobs report. Let’s get a few things clear about that. The jobs report was not strong. It was weak. The only question is: was it weak enough. Although the headline unemployment rate eased a touch, full time jobs have disappeared

The post The next RBA meeting remains very live appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 09:20 Source

Iron ore charts for January 23, 2020: Spot smacked. Paper too. And steel. Markets appear to be closed now for Lunar New Year having priced virtually no coronavirus fallout. Good one. The damage is coming. Via Reuters: “The spreading coronavirus in China is raising concerns that the busy construction period following the Lunar New Year

The post Daily iron ore price update (peak is in) appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 09:05 Source

Via CBA: The latest Commonwealth Bank Flash Composite PMI® signalled a continued decline in business activity in January. In fact, the latest fall in output was the sharpest since the survey began in May 2016. New orders and employment increased, however, thanks to improvements in the service sector. The rate of input cost inflation softened

The post CBA Flash PMI sinks appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 09:00 Source

Via Sinocism: The latest figures from the virus outbreak are 653 confirmed cases and 18 deaths 武汉新型肺炎疫情动态. The 18th death was in Hebei Province, the victim an 80 year old man who had spent more than two months in Wuhan 河北确诊第2例新型肺炎病例 系湖北外首现死亡病例. The authorities have extended the effective quarantine to Huanggang and Ezhou, neighboring cities to Wuhan. Caixin reported that

The post Coronavirus is coming for the ASX appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 09:00 Source

By Chris Becker  The risk complex is getting increasingly concerned about the Chinese virus, but in reality anything could send the bubble popping, with stock markets in particular still extremely overextended. European bourses fell shortly after the rout here in Asia yesterday, while Wall Street held on and made only scratch sessions as safe haven

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 07:57 Source

DXY is up and away as EUR and CNY sink: The Australian dollar reversed all jobs report gains: Did a bit better against EMs: Gold is strangely strong: Oil is weak as coronavirus demolishes air travel: Base metals are catching on now: And miners as iron ore also wilted: EM stocks did OK despite the

The post Australian dollar sinks with China as US sets up boom appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 00:10 Source

In the week ended 23 January 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, rose another 0.25%: The rise in values was broad-based: So far in January, dwelling values have risen by 0.64%, driven by Melbourne and Sydney: Quarterly dwelling values continue to rise strongly, driven by

The post CoreLogic weekly house price update: acceleration appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 00:05 Source

Over the past three years Australia has experienced an alarming rise in Nepalese international students. As shown in the next chart, which plots data from the Department of Education, Nepalese student enrolments ballooned by 212% in the three years to October 2019, growing from 21,000 to 65,700: This extreme enrolment growth has seen Nepal become

The post The shocking upsurge in Nepalese international students appeared first on MacroBusiness.

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MacroBusiness Friday, January 24, 2020 - 00:01 Source

Global Macro / Markets / Investing: Diversify Into Hard Assets, but Not Bitcoin, Says Billionaire Investor – BeInCrypto How One Chart Shows That Even The Harshest Critics of Capitalism are Too Soft On It – Medium Amateur Investors Are Making Risky Bets That Could Wipe Them Out – Bloomberg Mark Cuban, who made billions from

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Your Democracy Thursday, January 23, 2020 - 21:25 Source

quackery   Responding to a question on what he thought of climate activist Greta Thunberg's criticism of his administration's climate track record, Donald Trump replied by asking how old she was and<

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John Quiggin Thursday, January 23, 2020 - 18:37 Source

Looking at our elected leaders, it’s hard to avoid the feeling that we, as Australians, deserve the cataclysms that have been visited upon us in the last few months. And reading the international press coverage of the disaster, this is a theme that constantly recurs.

Yet its less than a year since 49 per cent of us voted for a policy program far better than that of the government that scraped in or the shell-shocked opposition that proposes to wait until 2022 before doing anything.

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MacroBusiness Thursday, January 23, 2020 - 17:00 Source

Fear is starting to spread among the bubblish risk markets across Asia with the Chinese virus contagion sending stocks sharply lower ahead of the Lunar New Year holiday. Chinese stocks are leading the selloffs, with the Shanghai Composite falling nearly 3% this afternoon, currently below the long held 3000 point barrier, while the Hang Seng

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Thursday, January 23, 2020 - 15:55 Source

Via Domain: National fashion chain Jeanswest will shut nearly 40 stores across the country, running the tally of retail store closures to over 200 in the new year. KPMG administrators Peter Gothard and James Stewart announced on Thursday the company’s restructure would result in 37 stores being closed and 263 staff made redundant, including 21

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Renew Economy Thursday, January 23, 2020 - 15:32 Source

Victoria Liberal leader Michael O'Brien calls on federal Coalition to raise bar on climate policy, after announcing his Party's support of the need for state emissions reductions.

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Renew Economy Thursday, January 23, 2020 - 15:30 Source

Worker with power drill installing windbreaker on solar panel construction - Downer EDI optimisedDowner flags drop in earnings, citing connection bottlenecks and commissioning delays from its portfolio of wind and solar projects.

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Renew Economy Thursday, January 23, 2020 - 15:22 Source

aemoTo meet NSW consumers’ energy requirements and maintain power system security, AEMO has commenced activation with Reliability and Emergency Reserve Trader (RERT) panel members to secure off-market generation and demand management reserve contracts.  

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MacroBusiness Thursday, January 23, 2020 - 15:20 Source

In today’s webinar, hear from MB Fund’s Head of Investment Damien Klassen, Chief Strategist David Llewellyn Smith and Tim Fuller, as they cover “Will Coronavirus create a Market Hangover”. Topics include the pandemic spreading as the Chinese new year fast approaches, if the data can be trusted, Australian and macro implications if Chinese growth slows,

The post MB Fund Podcast: Coronavirus and sickening markets appeared first on MacroBusiness.

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Renew Economy Thursday, January 23, 2020 - 15:14 Source

Taylor confirms Australia to reach 48 per cent renewables by 2030, without wrecking the economy.

The post Taylor concedes Australia to reach 48% renewables by 2030 appeared first on RenewEconomy.

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Renew Economy Thursday, January 23, 2020 - 14:35 Source

JinkoSolar can announce that the maximum conversion efficiency of its bifacial solar modules reached 22.49%, breaking the previous world record.

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