Articles from MacroBusiness

The question is, does the Property Council know how to manage the economy?

The Property Council of Australia has seized control of the wheel of the good ship Australian economy. Its former employee, Prime Minister Scomo, has decreed that house prices must rise. As Ross Gittins says today, the economy is very weak and needs fiscal support but there’s no evidence that the Government cares: That’s the trouble, of course.

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Gas reservation will kill LNG imports

Via New Daily: The federal government may soon announce further changes to the gas market, to ease the burden on consumers being stung by high energy costs. Senator Rex Patrick has told The New Daily he has been negotiating with the government to further strengthen the neatly titled, Australian Domestic Gas Security Mechanism (ADGSM), amid ongoing uncertainty about the

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Kenneth Hayne signs Wayne Byers death warrant

Wayne Byers must resign, at the AFR today: Kenneth Hayne, who spearheaded the royal commission into the financial services sector, has come out and publicly backed all the recommendations in the APRA capability review and says it is consistent with his own final report. …Hayne’s endorsement of the capability review into APRA, which was released

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Australia’s Fake Left can’t face why it lost the election

It’s painful to watch the Fake Left go in circles inside of its closed ideology trying to figure out why it lost the unlosable election. We’ve watched as various doyens of the left have proposed that it was climate change, Adani, bogans, housing or Bill. On Saturday the normally more incisive Mike Seccombe at the

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Daily iron ore price update (glut)

Reuters has the texture: Overall short-term macroeconomic conditions in China remain “bearish”, said commodities broker Marex Spectron. “We continue to pick up weakness in manufacturing and construction activity, which should mean steel demand will come under pressure,” said Marex analyst Hui Heng Tan in Singapore. “We are bearish on current demand conditions (for iron ore).”

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Macro Morning

By Chris Becker The possible revocation of the Fed put combined with the Iranian seizing of a British tanker saw risk sentiment reverse again on Wall Street following a positive close here in Asia. The amount of easing priced in at the July Fed meeting has dropped to an average of only 30 basis points

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Australian dollar hammered back down as Fed takes a cold shower

DXY reversed its losses Friday night, EUR was clubbed, CNY eased: The Australian dollar was clubbed lower but held former resistance as support: It was stronger than EMs: CTC net positioning is has eased from a deep short: Gold fell: Oil lifted as Iran seized a UK tanker: Metals were mixed: Big miners firm: EM

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Why Australia’s property recovery will be muted

Analysts have hosed hopes that APRA’s reduction in its interest rate buffer to 2.5% and interest rate cuts by the RBA will generate a strong housing rebound: APRA’s change to how banks assess a borrower’s ability to repay their mortgage if interest rates rise has had a neutral effect at the low-end of the market, according

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Auction clearance rate rises above 70%

After last week’s final auction clearance rates for Sydney and Melbourne hit two-year highs, CoreLogic’s preliminary auction clearance rate for the weekend’s auctions rose above 70% for the first time in over a year: However, auction volumes have fallen by more than a quarter – 901 aucti0ns were held over the weekend versus 1,257 in

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Australia’s universities hose international student billions down drain

Over the past six years, Australia has experienced a near doubling of international student numbers: This surge in international students has delivered universities massive revenue growth, as illustrated by the next chart from the New South Wales Auditor-General: As you can see, revenue from international students in New South Wales has more than doubled since

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