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MacroBusiness Wednesday, April 19, 2017 - 09:28 Source

By Gareth Aird, senior economist at CBA: Key Points: We expect the headline CPI to rise by 0.6% in QI (2.3%pa). The underlying CPI on our forecasts will print at 0.5% (1.8%pa). Inflation outcomes in line with our forecasts are commensurate with monetary policy on hold given concerns around rapid dwelling price growth. Overview The

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MacroBusiness Wednesday, April 19, 2017 - 09:22 Source

Via Peter Martin: The May budget is set to forecast a surge in economic growth, much lower unemployment and a rebound in inflation, according to a ‘sneak preview’ released by the International Monetary Fund Wednesday morning in Washington. The Fund’s updated forecasts for Australia contained in its annual World Economic Outlook are much more upbeat

The post Run for your life: IMF upgrades Australia appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 09:17 Source

By Chris Becker   Oh what a night – currency markets in turmoil as Theresa May calls a snap election in the UK, sending Pound Sterling over 300 pips higher against USD. The announcement sent UK stocks down over 2%, dragging the rest of European bourses with it while US stocks wavered as the chief

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 08:32 Source

The USD was weak last night: Commodity currencies were weaker still: Gold was strong: Brent was hit: Base metals were savaged: Big miners mauled: EM stocks fell: High yield debt was suspiciously strong: US bonds were bid big: European spreads widened: And stocks faded. Europe was hit by the UK snap election: The BofAML monthly

The post Global fund managers go long China appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, April 19, 2017 - 05:55 Source

Wednesday 19 April 2017. There are those who say he should just be ignored. I am not one of them. He is the proverbial gift that keeps on giving. The former Prime Minister is so full of egotistical compost that he can continuously replenish his own effluence. And now every Monday he will be able to…

The post Day to Day Politics: On the habits of Abbott. appeared first on The AIM Network.

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MacroBusiness Wednesday, April 19, 2017 - 05:13 Source

At Domainfax there is an interesting housing bubble piece today: Intense media focus on housing affordability has primarily focused on the story of the individual; the young person who can’t afford a house. But in all of our focus on the individual, we are failing to recognise the greater problem – that when house prices do fall, and

The post The housing bust we have to have appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 04:24 Source

Some sense today from alien anal-probing victim Resources Minister Matt Canavan: Resources Minister Matt Canavan has declared gas swap contracts aimed at increasing domestic ­supplies should be left to the ­private sector, as he repeats calls for state governments to free up resources to help prevent a looming energy crisis. Arguing the Coalition wanted more

The post Yes, Santos, it is your fault appeared first on MacroBusiness.

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North Coast Voices Wednesday, April 19, 2017 - 00:16 Source

The foreign-owned multinational, the Adani Group, adds to its record of corporate environmental vandalism……………….The Sydney Morning Herald, 10 April 2017:The Queensland government is investigating water spills from the Abbot Point coal terminal into neighbouring wetlands as an expert predicts long-term environmental damage.The Department of Environment and Heritage Protection was assessing whether there were any unauthorised water relea

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MacroBusiness Wednesday, April 19, 2017 - 00:15 Source

From late 2011, MB warned the RBA and Treasury against its wrong-headed plan to catapult the Australian economy over the mining bust by blowing a new housing bubble. One of the reasons for our caution was the fear that authorities may be forced to tighten into the bubble before the mining bust was over, and

The post As the great mining bust resumes, what have we got left to fight it? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:15 Source

From late 2011, MB warned the RBA and Treasury against its wrong-headed plan to catapult the Australian economy over the mining bust by blowing a new housing bubble. One of the reasons for our caution was the fear that authorities may be forced to tighten into the bubble before the mining bust was over, and

The post As the great mining bust resumes, what have we got left to fight it? appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:15 Source

By Leith van Onselen The AFR reports today that the Turnbull Government’s crackdown on so-called ‘skilled’ 457 visas is only the first in a handful of measures designed to add integrity to Australia’s mass immigration program: Sources said the announcement was part of a package of policy changes targeting immigration which have been under consideration

The post Coalition immigration curbs widen as Fake Left plays race card appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:15 Source

By Leith van Onselen One of the most common arguments used to support mass immigration is the claim that it keeps the population young and productive, and without constant immigration, the population would grow old and the economy would stagnate. For example, Prime Minister Malcolm Turnbull has stated previously that “anyone who thinks it’s smart

The post Immigration has aged Australia! appeared first on MacroBusiness.

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North Coast Voices Wednesday, April 19, 2017 - 00:15 Source

Twelve weeks after his inauguration US President Donald J.

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MacroBusiness Wednesday, April 19, 2017 - 00:10 Source

Every idiot is claiming the 457 visa cut as their own: The truth, yeh, whatever. Anyone that tracks the debates knows that only one person in this God forsaken village of idiots can claim to have positively influenced the immigration debate over a long period of time and his name is Leith van Onselen. Every

The post In praise of Leith van Onselen appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:10 Source

By Leith van Onselen Remember this chart? It shows that Melbourne’s population surged by an all-time high 108,000 people in the year to June 2016: Well, according to SQM Research, the population surge in Melbourne has pushed the city’s rental vacancy rate to an 11-year low of 1.5%: According to SQM managing director, Louis Christopher:

The post Population ponzi drives Melbourne vacancy rate to 11-year low appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:06 Source

The next time BHP whinges about the price of electricity in SA, remember this: The competition watchdog has launched a formal investigation into the Bass Strait gas marketing arrangements of ExxonMobil and BHP Billiton, two of the biggest winners of the east coast crunch, to see if they have contravened the Competition and Consumer Act.

The post ACCC goes after BHP gas cartel appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:05 Source

Iron ore price charts for April 18, 2017: Tianjin benchmark crashed $3.10 to $61.50. Paper is still in free fall. Coking coal futures were put to the sword. Bloomberg reckons we’re near the bottom: Iron ore futures have fallen more than seven percent in the past two days despite encouraging data showing the economy in China,

The post Daily iron ore price chart (smash, crash, bash) appeared first on MacroBusiness.

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MacroBusiness Wednesday, April 19, 2017 - 00:01 Source

Global Macro / Markets / Investing: Nuclear war has become thinkable again – we need a reminder of what it means – The Guardian Same title does not mean same job for men and women – The Telegraph Financialization impedes climate change mitigation: Evidence from the early American solar industry – Science Rise of the robots: What advances

The post Links 19 April 2017 appeared first on MacroBusiness.

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Your Democracy Tuesday, April 18, 2017 - 21:52 Source

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MacroBusiness Tuesday, April 18, 2017 - 16:26 Source

by Chris Becker Asia is mixed to say the least with a weak USD against the Yen buoying Japanese stocks, but Chinese bourses are selling off due to continued falls in commodities, namely iron ore and oil. The tension on the Korean peninsula continues to play a part as does the return of risk traders

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Tuesday, April 18, 2017 - 15:00 Source

Based on reports, an infrastructure fund of Australia-based Macquarie Group has acquired a large solar portfolio from India’s Hindustan Power.

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Renew Economy Tuesday, April 18, 2017 - 14:55 Source

Nuvation Energy announces that their new 11-60 VDC battery management system.

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Renew Economy Tuesday, April 18, 2017 - 14:46 Source

A year ago, NSW was considered the worst place to invest in wind and solar energy in the country. Now the Coalition state government has a plan that could rival Labor states in its ambition.

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MacroBusiness Tuesday, April 18, 2017 - 14:45 Source

Cross-posted from The Conversation: For some time, the largest single component of federal government spending has been social security and welfare. In the last federal budget it made up an estimated 35.2% of total expenses and this was projected to rise to 37.5% by 2019-20. Given this, it’s not surprising that it’s also has been

The post ‘Blowout’ in welfare spending is largely a myth appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 14:25 Source

From Do-nothing Malcolm: This won’t be enough to win back One Nation voters or silence Tony Abbott but it’s the thin end of the wedge. What an idiot is Labor. Now it is outflanked on its core values. It should immediately begin a labour market reform bidding war or, as the Coalition steadily ramps up

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MacroBusiness Tuesday, April 18, 2017 - 14:15 Source

From the AFR: Victoria’s Ace Metal Treatment Services has found a just-bearable fix to its gas supply problems – but it’s come at a hefty price. The metals processor has had to accept an offer of around $15 a gigajoule from Origin Energy for gas starting in the peak demand season, on July 1, or close

The post Manufacturing shuts as gas rises “$2-3 every couple of months” appeared first on MacroBusiness.

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MacroBusiness Tuesday, April 18, 2017 - 14:02 Source

From CoreLogic today: At this point, this is a perfectly normal seasonal pullback. What I’ll be looking for over the weeks ahead is where the correction bottoms out. If it is near or below last year’s Autumn drop then we’ll know that authorities have succeeded in putting a dent in sentiment. If it turns materially

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Renew Economy Tuesday, April 18, 2017 - 13:53 Source

Nano-Nouvelle says lithium-ion battery boosting technology is ready for use on commercial battery production lines.

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MacroBusiness Tuesday, April 18, 2017 - 13:30 Source

By David Collyer, cross-posted from Prosper Australia: The Petroleum Resource Rent Tax has been a successful revenue-sharing device since 1987, delivering well over $33 billion to Consolidated Revenue, derived entirely from the economic rents of resource extraction with no harm to producers. It has never deterred exploration or hindered output. Treasurer Scott Morrison commissioned a

The post Do-Nothing Malcolm prepares to squib on PRRT appeared first on MacroBusiness.

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Renew Economy Tuesday, April 18, 2017 - 13:23 Source

Renewable energy made up just over 41% of Germany’s power supply last month, the most ever at around 19.5 TWh, as nuclear continues its decline.

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