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Articles from MacroBusiness

Consumer confidence dips

August 11, 2015 - 09:50 -- Admin

By Leith van Onselen The ANZ-Roy Morgan Research consumer confidence index dipped slightly in the week ended 9 August, falling 0.4 points to 112.5 to be tracking close to the long-run average of around 113 points (see next chart). The slight fall in confidence was driven by concerns about the economic outlook – both next

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CGT discount universally disliked and ripe for reform

August 11, 2015 - 09:49 -- Admin

By Leith van Onselen Fairfax’s Peter Martin has today questioned why the Abbott Government is dithering on reforming the 50% capital gains tax (CGT) discount when it is almost universally disliked: How on earth did we come to be lumbered with a tax rule so bad it is disliked by the Treasury, the Reserve Bank,

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Pork to prevent further Chinese stimulus?

August 11, 2015 - 09:37 -- Admin

From Societe General: Pork prices in the CPI basket have risen 17.4% since May and were up 16.7% yoy in July, which accounted for half of the headline CPI reading of 1.6% yoy. The current cycle is similar to the previous two disruptive cycles in terms of supply shortages… Pork prices will probably keep rising

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Malcolm has “stuffed it” on NBN

August 11, 2015 - 09:29 -- Admin

From Domainfax and broadband startup MyRepublic co-founder Malcolm Rodrigues: “We’ve kind of re-engineered the economics of telcos and this is what David Thodey was talking about,” he said. “We’re going to come in with an unlimited 100 megabit per second offer at the $80-$90 per month range. …Mr Rodrigues said he “loved the NBN” but that it had lost its way

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IPA urges massive population ponzi

August 11, 2015 - 08:43 -- Admin

By Leith van Onselen Right wing think tank, the Institute of Public Affairs (IPA), has urged Australia to throw open its borders so that it can reap the so-called economic benefits of a massive population. From The Canberra Times: The Commonwealth government enforces a mind-boggling number of visas to control who arrives in Australia, and

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Macro Morning (Alphabet it!)

August 11, 2015 - 08:30 -- Admin

By Chris Becker A swing back to a positive mood overnight, possibly helped by acquisition news by Warren Buffet’s Berkshire Hathaway and a huge restructuring by Google, creating another company called “Alphabet” in the process that is likely to rule us all and drive all our cars.  In Europe news that Russia’s GDP has dropped more than

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Domainfax attacks foreign property buyer rules

August 11, 2015 - 05:21 -- Admin

From Michael Pascoe-Domain: At the end of a week that saw the unemployment rate rise to 6.3 per cent and the Reserve Bank shave 25 points or so off the budget’s growth forecast for this year – not to mention more bad opinion polls for the government, speculation resurfacing about the Liberal leadership, and the lingering

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Australian bank funding costs continue to lift

August 11, 2015 - 03:33 -- Admin

In an interesting development, Australian bank funding costs are trending higher. CBA CDS prices hit their highest mark since January yesterday, the trend is firmly upwards and looks set to break to new highs: There is nothing alarming here but it is interesting to speculate on the drivers and implications. The cause is pretty easy

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Rents fall in every capital city

August 11, 2015 - 03:32 -- Admin

By Leith van Onselen Core Logic-RP Data has released its monthly rental report, which provides a reality check for Australia’s landlord army, with rents falling across every capital city in August and annual rental growth coming in at just 0.9% – the slowest pace in records that date back to December 1995: As shown above,

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Another day, another Abbottalypse shocker

August 11, 2015 - 03:07 -- Admin

From Roy Morgan: In early August L-NP support has slumped 43% (down 3%) cf. ALP 57% (up 3%) after controversial Speaker Bronwyn Bishop resigned following a series of extravagant travel expense claims. Liberal backbencher Tony Smith (Victoria) has today been elected as the new Speaker to replace Bishop. If a Federal Election were held now

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