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Articles from MacroBusiness

Macro Afternoon

July 28, 2017 - 17:00 -- Admin

by Chris Becker Deflationary forces are still in play in Japan somewhat although higher energy prices are helping alongside a very tight employment market (low population growth helps – hello Canberra!) Markets in Asia finished the week meekly with a lower USD not helping outside China. The trainwreck that is the Trump White House is

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HIA: Sydney drives decline in mortgage affordability

July 28, 2017 - 14:25 -- Admin

From the HIA today comes news that mortgage affordability has deteriorated on the back of Sydney: “HIA’s Affordability Index shows Housing affordability in Australia continued to decline in the June quarter this year. This is largely due to a rise in the median dwelling price of 9.1% per cent to a record high of $540,200.

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Rental stress: the hidden problem

July 28, 2017 - 12:55 -- Admin

By Martin North, cross-posted from the Digital Finance Analytics Blog: There is much discussion of mortgage stress, some of which we highlight by our ongoing research into the growing numbers of households under financial pressure. The results for July will be out soon. But rental stress is less discussed, but in our mind is equally

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PPI confirms minimal inflationary pressures

July 28, 2017 - 12:06 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released Producer Price Index (PPI) data for the June quarter, which registered a 0.5% quarterly rise in final (stage 3) prices and an increase of only 1.7% over the year: The 0.5% rise in final (stage 3) prices was driven primarily by rises in

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Melbourne roads crush loaded with 500k registrations in 5 years

July 28, 2017 - 11:07 -- Admin

By Leith van Onselen While certain people on the left keep spruiking for Australia to open its borders, the lived experience in the major cities continues to worsen. The latest iteration comes from Victoria, where motor vehicle registrations have ballooned by almost 500,000 in just five years, crush-loading Melbourne’s roads. From the Herald-Sun: NO wonder

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How privatisation pushed-up Australia’s electricity costs

July 28, 2017 - 10:11 -- Admin

By Leith van Onselen The Australia Institute has released a new report entitled Electricity costs: Preliminary results showing how privatisation went seriously wrong, which finds that electricity prices have increased at three times the rate of CPI, primarily due to companies ‘gold-plating’ financial assets and passing those costs onto consumers. Below are some key extracts:

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NZ Government locks in ‘skilled’ migrant slave wages

July 28, 2017 - 10:01 -- Admin

By Leith van Onselen Back in April, New Zealand’s National Government announced modest “tweaks” to the country’s immigration program, which including a $48,000 income threshold for a skilled migrant, as well as only allowing employers to tap lower-skilled migrants for three years, with these people facing an annual review of their visas. The announcement of immigration

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Macro Morning

July 28, 2017 - 09:30 -- Admin

By Chris Becker   Its all about volatility overnight, and not just the White House! US markets were rocked by serious intra-session volatility from tech stocks – including Amazon – disappointing on earnings, and also saw European bourses fall even as the Euro came off a bit against the very droopy USD. The durable goods order

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Labor’s left to double down on inequality agenda

July 28, 2017 - 09:21 -- Admin

By Leith van Onselen Treasurer Scott Morrison continues to play into Labor’s inequality trap, tying himself in knots trying to explain why inequality has not worsened recently in Australia. From The AFR: Scott Morrison has rejected claims he has been contradicted by Reserve Bank of Australia governor Philip Lowe who stated on Wednesday that inequality

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Government crumbles around dual nationals

July 28, 2017 - 08:19 -- Admin

Via The Australian: Malcolm Turnbull and Bill Shorten are preparing for a battle over more than 20 MPs facing ­questions about possible citizenship rights in foreign countries, in a widening crisis that could tip the balance of power in federal parliament. The Australian has identified 21 members of the House of Representatives who have spoken of

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