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Articles from MacroBusiness

Australian leading index improves a bit

January 29, 2020 - 11:11 -- Admin

Via Westpac: Despite the lift, the Leading Index growth rate remains below zero, indicating momentum tracking well below trend. In fact the December print represents the thirteenth straight month where the Index growth rate has been negative. This has been consistent with the persistent below trend growth we have seen for the Australian economy. The

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Senate crossbench to derail visa privatisation

January 29, 2020 - 11:00 -- Admin

The senate crossbench looks set to scuttle the Morrison Government’s planned privatisation of Australia’s visa system after the Department of Foreign Affairs and Trade (DFAT) advised that the reform would likely need to be legislated: The department’s incoming government brief to Home Affairs Minister Peter Dutton, released under Freedom of Information laws, says the plan

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CS: Volatility will rise with the virus

January 29, 2020 - 10:40 -- Admin

Via the excellent Damien Boey at Credit Suisse: A belated happy new year! Event-wise, it has not been a great start to 2020, but hopefully we can navigate the risks effectively together. In early January, we have seen Middle Eastern tensions, natural disasters and the Wuhan coronavirus dominate the headlines. The signing of phase I

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NSW planning minister hands reins to developers

January 29, 2020 - 10:20 -- Admin

In 2017, NSW Planning Minister, Rob Stokes, pushed-back against the federal government’s blind march towards a ‘Big Australia’, claiming it is leaving Sydney forever struggling to keep pace: Rob Stokes said the state government was left trying to retrofit the NSW’s infrastructure and services to an expanding population, without a clear, transparent trajectory of NSW’s

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Coronavirus cases rip higher in China

January 29, 2020 - 10:12 -- Admin

Today’s grisly update: Daily number of new cases down to 880 from 1400 yesterday but who can trust that? Mortality rate dropped to 2.3%. Good news. Still clearly worse than SARS at the comparable stage. Possibly much worse.

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Peter Costello: Superannuation system is “inefficient”

January 29, 2020 - 10:00 -- Admin

Former Treasurer and chairman of the Future Fund, Peter Costello, is the latest to question the efficiency of Australia’s compulsory superannuation system, claiming that superannuation is not a genuine market and that it produces “inefficient” outcomes: Australia’s super system is not a genuine market and many retirement products are “inefficient”, Future Fund chair Peter Costello

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Sock puppet: Let’s go nuclear

January 29, 2020 - 09:40 -- Admin

Via the McCrann Sock Puppet today: If you are a “Climate Change” true and absolute believer – and even more emphatically so, if you’ve gone the full “Climate Emergency Greta” – the answer is nuclear. If you remain more rationally sceptical of the claimed evils of carbon dioxide and the associated demonisation of coal, or

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ScoMo’s geniuses suggest you avoid China

January 29, 2020 - 09:20 -- Admin

Via the ABC: Australians are being officially advised to reconsider their need to travel to China as a result of the coronavirus outbreak. Early on Wednesday morning, government travel website Smarttraveller updated its travel advice for China from “exercise normal safety precautions” to “reconsider your need to travel”. Foreign Minister Marise Payne warned Australians should not travel

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Macro Morning

January 29, 2020 - 09:00 -- Admin

By Chris Becker  Hope returned to stock markets overnight as US economic data beat expectations. Wall Street rallied over 1% higher with the usual safe haven assets falling in response, although Bitcoin did surge above the $9000 mark. Oil prices came back a little after being whallopped, while the USD lost ground against most of

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Daily iron ore price update (clubbed like baby seal)

January 29, 2020 - 09:00 -- Admin

SGX that is. Hammered again yesterday to $73.64: Coronavirus damage estimates are mounting, via Platts: “The concentration of the virus in China, the strong growth of Chinese steel production/exports since 2003 are likely create a demand vacuum across the region,” Jefferies’ Australia-based analysts Simon Thackray and Abraham Akra said in a note. “We believe, inventories

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