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Articles from MacroBusiness

The rise and rise of the renting underclass

July 25, 2017 - 14:12 -- Admin

By Leith van Onselen The 2016 Census painted a nasty picture for Australia’s renters. First, the Census showed that immigration-fueled population growth has overwhelmed the number of dwellings built: Second, the Census revealed that the number of households in rental accomodation has soared, whereas household in group accommodation has also increased: Third, the Census revealed

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ASX200 short interest high

July 25, 2017 - 12:18 -- Admin

Via Deutsche: Short interest is high Median short interest for ASX200 stocks is below the peaks reached in 2016, but is still quite elevated relative to history. This may reflect investors’ unease with valuations – the PE ratio has been holding in the 15½-16x range since early 2016, which is 10-15% above average. At the

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Pundits predict house prices 2018

July 25, 2017 - 12:10 -- Admin

It begins with Ray White: For the last three years pundits have been saying the housing crash is coming, says Brian White, but while the resilient markets in Sydney and Melbourne might moderate, continued low interest rates would dampen talk of housing bubbles. The chairman of real estate agency Ray White Group said it was

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More Chinese accelerator and brake

July 25, 2017 - 11:57 -- Admin

From Reuters: China’s Politburo, the Communist Party’s top decision-making body, said Beijing will implement a “proactive” fiscal policy and “prudent” monetary policy in the second half of the year, the official Xinhua news agency reported on Monday. China will also strengthen coordination of financial regulation, stabilize the property market and prevent systemic financial risks, according

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Calls for health star rating system to focus on sugar

July 25, 2017 - 11:48 -- Admin

By Leith van Onselen Last month it was revealed that Australia’s farcical Health Star Rating system had been placed under review amid widespread concerns over its efficacy, which was beautifully encapsulated by Peter FitzSimons: Under the system, straight milk gets four stars, while Up & Go – with added, to use the specialised term –

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What’s boosting thermal coal?

July 25, 2017 - 11:00 -- Admin

Via Morgan Stanley: Déjà vu, all over again: Even though China’s National Development and Reform Commission (NDRC)has largely abandoned its controversial 276-day policy, imposed during 2016’s coal industry reform  – its more moderate approach to change this year has helped deliver another deficit.For thermal coal, weak supply growth vs. China’s summer demand kick,have together driven

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More oil and gas capitulation

July 25, 2017 - 10:51 -- Admin

Via Morgan Stanley: The oil market reached balance earlier this year, and in May observable stocks were drawing at above seasonal rates. Still, forward looking indicators suggest this may be temporary: tanker loading are high and rising, OPEC compliance is slipping and non-OPEC growth is back above 1 mb/d. Not all data points are bearish

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Energy is now cheap everywhere but Australia

July 25, 2017 - 10:51 -- Admin

Via Morgan Stanley: The oil market reached balance earlier this year, and in May observable stocks were drawing at above seasonal rates. Still, forward looking indicators suggest this may be temporary: tanker loading are high and rising, OPEC compliance is slipping and non-OPEC growth is back above 1 mb/d. Not all data points are bearish

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NZ Government balks at immigration reform

July 25, 2017 - 10:37 -- 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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Could the NBN become a stranded asset?

July 25, 2017 - 10:10 -- Admin

By Leith van Onselen When the National Broadband Network (NBN) arrived in my area late last year residents were greeted with a barrage of junk mail advertisements from all manner of internet service providers offering competitively priced internet at fast speeds. At the time, I was under contract with Telstra, so I did not consider

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