‘From the Sand Dunes’ John White, 1899, Art Gallery of South Australia Macro & Markets More than 400 lawmakers from 34 countries back ‘Make Amazon Pay’ campaign – Reuters Is a post-COVID currency war coming? – Reuters US intelligence head says China is America’s ‘greatest threat’ in rare public warning – SCMP Container Shipping
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Outside local markets its been a tepid end to the trading week with most Asian stock markets looking to close with minor losses going into tonight’s US unemployment print. Bitcoin is relatively steady at the $19400 level, while gold has put on more gains, slowly climbing higher to be at $1841 as it struggles to
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Via Zero Hedge: As Nomura quant Masanari Takada writes when commenting on yesterday’s spike in 10Y yield which rose as high as 0.96%, “CTAs have resumed preemptive exits from long positions in UST futures.” Noting that at the same time as momentum-chasing CTAs have been gradually adding to their exposure in DJIA and Russell 2000
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Via The Australian: Backpackers working in the fruit-picking industry are being paid as little as $3 an hour, with a three-month investigation into conditions in the Coffs Harbour region concluding there was widespread exploitation of workers on holiday visas. The probe, undertaken by the McKell Institute, found workers were being offered pay rates as low
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Via FTAlphaville: As with Japan in the 1990s, years of low — and even negative — interest rates in the eurozone have led to suspicions that the region’s business landscape is harbouring a load of zombie firms. That is, companies that are being kept artificially alive by the repeated extension of credit. Many have tried
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Via The Guardian: Scott Morrison and Josh Frydenberg billed taxpayers almost $5,000 to take the prime minister’s private jet on a whirlwind trip to Sydney on the night of Lachlan Murdoch’s Christmas party, leaving Canberra after 6pm, attending the Bellevue Hill soiree and then returning to the capital before 9am the next morning. On 5
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Via Calculated Risk: On Friday at 8:30 AM ET, the BLS will release the employment report for November. The consensus is for 500 thousand jobs added, and for the unemployment rate to decrease to 6.7%. First, there are a wide range of estimates. For example, from Merrill Lynch economists: “We look for November jobs report
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Via Domain: Leading Labor figures are warning the party will again fail at the next federal election unless it reflects on why it lost its once-reliable voter base, drops its left-wing populism, reconnects with the suburbs and stops scoffing at parents who choose to send their children to faith-based schools. As the opposition grapples with
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Have I called the bottom? Via The Australian: Australia’s big east coast LNG exporters face the introduction of formal price controls on their supplies for the first time in a radical shake-up floated by the Morrison government as it pursues a gas-fired economic recovery. A draft heads of agreement sent to Queensland’s three LNG producers
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Via The Guardian: The European Union has blasted China over an “irresponsible, insensitive” tweet about Australian military personnel as the regional bloc revealed it has raised the issue directly with a Chinese vice-foreign minister. A senior EU official told the Guardian the EU regretted the recent deterioration in ties between China and Australia – which has seen
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