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Articles from MacroBusiness

Weak Chinese steel output persists

April 9, 2014 - 00:37 -- Admin

To underline my point this morning that Chinese steel production remains weak and there’s little evidence of a rebound in demand despite stimulus-excited iron ore markets, here some more from Citi: For the iron ore producers China’s steel production/demand is the all-consuming barometer of sector health given China imports ~70% of iron ore requirements and [...]

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Daily iron ore price update (Baltic smash)

April 9, 2014 - 00:35 -- Admin

Here are the iron ore charts for April 8, 2014: Decent paper market action with all futures are swaps up. Physical is more mixed with spot firm but the rebar recovery is a complete joke and is indicating still very poor steel demand. Also, the Baltic Dry capesize component was poll-axed 11.5% yesterday. There is [...]

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Links 9 April 2014

April 9, 2014 - 00:02 -- Admin

Global Macro / Markets: Bitcoin is a bad currency. Here’s why it could change the world anyway – VOX The short guide to Capital in the 21st Century – VOX North America: Austin or Bust: America’s Biggest Cities Lose People to the Urban B-List – Bloomberg Biggest US banks forced to hold $68bn in extra [...]

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ASX at the close

April 8, 2014 - 16:10 -- Admin

Chris Weston, Chief Market Strategist at IG Markets The pull back in developed market stocks continues, with the US right at the core of the moves. This is the first pullback we’ve seen for years that has been driven purely by concern over valuation. Over the last few years we’ve seen pullbacks, corrections and even [...]

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Gas reservation junked as “ideological claptrap”

April 8, 2014 - 15:38 -- Admin

From Business Spectator, Industry Minister Ian Macfarlane has junked proposals for domestic gas reservation arguing that: “There is no good reason for reservation policy. It is ideological claptrap,” Mr Macfarlane told reporters on the sidelines of the APPEA conference in Perth. “You haven’t got the gas in NSW to reserve and in Western Australia, if [...]

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And they wonder why Aussies illegally download

April 8, 2014 - 15:13 -- Admin

By Leith van Onselen Earlier this year, Foxtel stitched-up a deal for exclusive rights to Game of Thrones and True Detectives. Under this deal, viewers seeking to watch these shows will only be able to do so through Foxtel, with the shows no longer available for purchase via ITunes or other sites until the last [...]

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The rise of generation rentier

April 8, 2014 - 14:47 -- Admin

Cross-posted from the UK Conversation: In what he described as the most sweeping changes to pensions and savings since 1921, the United Kingdom’s George Osborne radically changed the rules which govern how pensioners get hold of their retirement savings. He may have just lit a fuse underneath an already heated housing market too. His decision [...]

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Coalition aims to slash shipping freight costs

April 8, 2014 - 14:03 -- Admin

By Leith van Onselen The Australian is today reporting that the Abbott Government is considering opening up domestic shipping routes to international competition in a bid to lower freight costs: Some of the three options canvassed in the paper would effectively scrap the cabotage rules that preserve freight routes from one Australian port to another [...]

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Jobs outlook improves amid rising unemployment

April 8, 2014 - 13:35 -- Admin

By Leith van Onselen Westpac has released its latest jobs index, which points to an improving labour market, although unemployment is still expected to increase to 6.5% as employment growth fails to match population growth: There are many business surveys out there and most have questions, in some shape or form, that are applicable to [...]

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GST lessons from across the pond

April 8, 2014 - 12:54 -- Admin

Cross-posted from The Conversation When long-time Kiwi expat John Clarke was asked why he left New Zealand, he said: “Because it was there.” Clarke at least knew what being “there” meant, in contrast to most of his new compatriots, whose interest in and knowledge of their ANZAC cobbers (or “bros”, as we would say) extends [...]

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