Blogotariat

Oz Blog News Commentary
MacroBusiness Tuesday, August 13, 2019 - 10:15 Source

Via the Lunatic RBA’s recent appearance in Parliament: It’s possible that we end up at the zero lower bound [for the cash rate]. I think it’s unlikely, but it is possible. We are prepared to do unconventional things if the circumstances warranted it. I hope we can avoid that. So what are the unconventional options?

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MacroBusiness Tuesday, August 13, 2019 - 10:00 Source

Yawn! This making money business is getting boring. More record highs at the long end of the Aussie bond curve: The curve continues to flatten and warn of elevated recession risks. The 15 year is only 5bps from inversion: But the long end is being dragged down by a rampant US bond market so the

The post All new highs for Aussie bonds appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 09:45 Source

Yesterday was the first day of the inquiry into NSW building standards, which was set up last month after major faults appeared in apartment buildings such as Mascot Towers and Opal Tower. The inquiry heard tails of woe from owners of apartments in the Mascot Tower, who have been left destitute and facing potential bankruptcy.

The post Anger erupts as cracking apartment owners left destitute and bankrupt appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 09:30 Source

Chinese credit data for July was out overnight and it was not pretty. Total social financing was a lousy 1.01tr yuan and banks were 1.06tr: New yuan loan growth is still up big year on year owing to last year’s deleveraging: But the shadow portion is falling away still: The rolling annual has stalled: M2

The post Chinese credit sends out a major warning appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 09:15 Source

Via SCMP: Thousands of anti-government protesters crippled Hong Kong International Airport on Monday and forced the cancellation of all flights in an unprecedented disruption, even as Beijing raised the stakes by warning that escalating protest violence against police in particular was displaying “signs of terrorism”. Air travel was thrown into chaos as protesters changed tactics

The post China masses troops as Hong Kong shuts airport appeared first on MacroBusiness.

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Renew Economy Tuesday, August 13, 2019 - 09:11 Source

First major wind farm in Saudi Arabia claims world record low cost of electricity at under 2c a kilowatt hour.

The post Saudi Arabia wind farm claims world record low energy cost appeared first on RenewEconomy.

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MacroBusiness Tuesday, August 13, 2019 - 09:00 Source

By Chris Becker  Trade war concerns are still weighing down on risk sentiment across global markets with Wall Street falling over 1% to start the trading week on a bad note, as everyone watches dead cat bounces develop on their charts. The unrest in Hong Kong plus the chance of new snap elections in Italy

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Tuesday, August 13, 2019 - 09:00 Source

More contractors have been hit by damages claims from delays in connecting renewable energy projects to the grid.

The post More contractors stung by connection delays for renewable energy projects appeared first on RenewEconomy.

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MacroBusiness Tuesday, August 13, 2019 - 09:00 Source

Texture from Bloomberg: While iron ore’s direct exposure to trade disputes is minimal, “the loss in confidence appears to have led to a rapid reassessment of the iron ore market,” analysts from Capital Economics Ltd., wrote in a note dated Friday. “We think that the price of iron ore will decline further on the back

The post Daily iron ore price update (not bearish enough) appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 13, 2019 - 08:00 Source

Recently we had a number of foreigners come here and tell us what was wrong with the place. If they’d been from some countries we’d have told them that we shall decide the circumstances in which they come and whether they’re allowed say anyhting at all, but they were mainly from Britain and the United…

The post Nigel Farrage Or What’s A Conservative Anyway? appeared first on The AIM Network.

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MacroBusiness Tuesday, August 13, 2019 - 07:39 Source

Via the AFR: The chemical industry has issued a fresh call for government intervention to bring down east coast gas prices, backed by new findings that every petajoule of gas used by chemical makers supports 80 times more jobs and creates 33 times more economic value than the LNG sector does. “We would like government

The post Manufacturers demand gas price reservation appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 06:05 Source

DXY was down last night, EUR up and CNY down: The Australian dollar was smashed against DMs: Mixed against EMs: Gold raced to new highs: Oil held on: Metals were mixed: Miners fell: EM stocks too: EM junk was smashed, a warning to all markets: Treasuries boomed: And bunds: And Aussie bonds: Stocks were hit:

The post Australian dollar smashed again as Chinese credit chokes appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, August 13, 2019 - 06:00 Source

We have always thought of ourselves as the lucky country: Young and full of enthusiasm for what the future holds. Chock-full of pride for what we have achieved thus far in many fields from sport to science. Indeed, we have much to be proud of. We live in a land of abundant resources: Of copiousness…

The post Great Australian political policy stuff-ups (part 1) appeared first on The AIM Network.

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MacroBusiness Tuesday, August 13, 2019 - 00:12 Source

CoreLogic’s August chart pack shows that the premium end of the market suffered the biggest declines in the year to July, but have also led the recovery over recent months: To add more colour, below is CoreLogic data examining price growth across the three broad market segments – bottom 25%, middle 50% and top 25%.

The post Premium properties lead Aussie house price recovery appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:10 Source

Recall Reserve Bank of Australia (RBA) governor, Phil Lowe’s, testimony on Friday to the House of Representatives Standing Committee on Economics, whereby Lowe wrongly claimed that increased labour force participation from older Australians is one of the key reasons for excess capacity in Australia’s labour market and why wage growth has stuck to historically low

The post Migrant visa tsunami pushes older Australians onto dole queue appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:06 Source

It’s all so predictable. Just months out from the prolific criminality exposed by the Hayne Royal Commission, the rentiers are back. Via the AFR: The founder of Aussie Home Loans, John Symond, says the housing market has turned a corner but both he and ANZ Banking chief Shayne Elliott believe that ‘over-regulation’ could threaten its

The post Aussie John demands MOAR appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:05 Source

It’s partly seasonal but looks early and strong: Listings have finally bottomed too, around lowish levels: Full report.

The post CoreLogic leading mortgage index ramps appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:05 Source

Yes, it has happened, via Domain: Clive Hamilton has slammed left-wing activists on Australian university campuses as “useful idiots” of the Chinese Communist Party, after a Greens student group belatedly reversed its opposition to a protest against the Confucius Institute’s impact on academic freedom. The outspoken author has also called on intelligence authorities to investigate

The post Greens back Chinese international student thug takeover appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:04 Source

Via Domain: Ansell chief executive Magnus Nicolin has warned China of “brutal” consequences as manufacturers leave the country over rising costs and fears at the escalation in trade war with Donald Trump. “So many manufacturers are moving out of China at breakneck speed. You don’t see it in the China-reported GDP growth numbers yet. I

The post Ansell: “Brutal consequences” as manufacturing flees China appeared first on MacroBusiness.

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MacroBusiness Tuesday, August 13, 2019 - 00:01 Source

Global Macro / Markets / Investing: Student Loans Keeping You From Saving for Retirement? You’re Not Alone. – Barrons World Economy Edges Closer to a Recession as Trade Dread Deepens – Bloomberg Asia shares decline as trade war concerns dampen investor sentiment – CNBC Cathay Pacific shares drop after China orders carrier to suspend staff

The post Links 13 August 2019 appeared first on MacroBusiness.

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George Monbiot Monday, August 12, 2019 - 21:50 Source

In the midst of climate breakdown, governments around the world
are funding and protecting the fossil fuel industry

By George Monbiot, published in the Guardian 7th August
2019

The tragedy of our times is that the gathering collapse of our
life support systems coincides with the age of public disservice. Just as we
need to rise above self-interest and short termism, governments around the
world now represent the meanest and dirtiest of special interests. In the
United Kingdom, the US, Brazil, Australia and many other nations, pollutocrats
rule.

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MacroBusiness Monday, August 12, 2019 - 16:30 Source

A much better than expected start to the trading week here in Asia with the PBOC keeping the Yuan very weak, still well above the 7 handle against USD, with most stock markets putting in light rises or scratch sessions. The Shanghai Composite has finally found some momentum, jumping over 1.2% to 2808 points while the Hang Seng

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, August 12, 2019 - 16:04 Source

IEEFA applauds Friday’s decision of the IPC in their rejection of the proposed time extension of a dilapidated underground thermal coal mine closed for 13 years in NSW.

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Renew Economy Monday, August 12, 2019 - 16:02 Source

GE Renewable Energy announced today that it has been selected by investors Partners Group and CWP as the wind turbine supplier for the 244 MW Bango wind farm near Yass, New South Wales.

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Renew Economy Monday, August 12, 2019 - 15:37 Source

ASX ASIC climate change risk disclosures sharemarket - optimised risk disclosure guidanceCorporate regulator issues updated climate risk disclosure guidance as companies face growing calls to proactively manage climate risks to businesses.

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MacroBusiness Monday, August 12, 2019 - 14:30 Source

In the video above, Martin North and property insider Edwin Almeida delve deeper into the high-rise apartment crisis, which they have previously claimed is a $1 trillion problem for Australia. In particular, North and Almeida discuss the collapse of developer Ralan and what the implications are for home buyers of off-the-plan buyers. Two months ago, Edwin Almeida

The post If you buy apartments off-the-plan, you are off-the-planet appeared first on MacroBusiness.

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MacroBusiness Monday, August 12, 2019 - 14:10 Source

New research from Finder shows that Sydney is by far the most expensive city in Australia to live, due primarily to the extortionate cost of housing (both to buy and rent): Based off a single man living in the heart of the city, driving to and from work and going out on the weekends with

The post Sydney tops cost of living thanks to extortionate housing appeared first on MacroBusiness.

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Renew Economy Monday, August 12, 2019 - 13:55 Source

Construction Site New Offshore Wind Farm near the Dutch Coast - optimised macquarie bankMacquarie set to acquire a 'substantial' stake in huge off-shore wind farm in the UK, in a deal worth a reported A$1.8 billion.

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Renew Economy Monday, August 12, 2019 - 13:50 Source

CER calls out Murdoch media for “inaccurate” reporting on the standard and safety of rooftop solar installations, based on its latest solar panel inspections data.

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MacroBusiness Monday, August 12, 2019 - 13:40 Source

Earlier this month, the Federal Chamber of Automotive Industries reported that annual new car sale had hit the lowest level since November 2012: Today, The AFR blames part of this decline on tightening automotive credit: In a post-royal commission world, where the banks are struggling to come to grips with what “responsible” lending really means,

The post Is tightened credit behind the crash in new car sales? appeared first on MacroBusiness.

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