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Articles from MacroBusiness

Consumer sentiment bounces

December 13, 2017 - 10:54 -- Admin

Via Westpac: • The Westpac Melbourne Institute Index of Consumer Sentiment rose 3.6% to 103.3 in December from 99.7 in November. This is a surprisingly strong result and confirms the lift we have seen in the Index over the last three months. The average reading for the Index in the December quarter is 5% above

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Australia needs more TAFE not more unis

December 13, 2017 - 10:40 -- Admin

By Leith van Onselen The Mitchell Institute’s 2017 report has been released, which shows that while funding to universities has skyrocketed over the past decade in real terms, funding for vocational education and training (VET) has plummeted to a decade low. From The Conversation: The chart below shows the trends in expenditure over an 11-year

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Melbourne lot prices hyper-inflate as population ponzi overruns supply

December 13, 2017 - 10:20 -- Admin

By Leith van Onselen Last month, The AFR reported that first-home buyers (FHBs) are desperately fighting for land in Melbourne as the city’s population soars: First-home buyers face fierce competition in Victoria’s fast-rising market, with only a quarter of the 84 lots in Stockland’s latest land release going to first-time buyers. Shaneel Veerabathula was one

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Australia has world’s lowest skills shortages, Malcolm

December 13, 2017 - 10:00 -- Admin

By Leith van Onselen The argument that Australia needs to maintain a turbo-charged skilled migrants intake (both permanent and temporary) to alleviate skills shortages was recently shot to pieces by the latest Department of Employment skills shortages report, which showed that Australian skills shortages “continue to be limited in 2016-17”, and that there are a

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RBA: Bitcoin/crypto “speculative mania”

December 13, 2017 - 09:44 -- Admin

Phil Lowe just now: Introduction Good morning. Welcome to High Security Printing Asia 2017 and, for those who have travelled from overseas, welcome to Melbourne, Australia. I take this opportunity to also acknowledge the traditional custodians of the land on which we are gathered, the people of the Kulin nation, and, on behalf of everyone here, pay

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Specufestors 4x more likely to default than owner-occupiers

December 13, 2017 - 09:40 -- Admin

Via Martin North: The UK Property Investment Market could be a leading indicator of what is ahead for our market. But in the UK just 15% of all mortgages are for investment purposes (Buy-to-let), compared with ~35% in Australia.  Yet, in a down turn, the Bank of England says investment property owners are four times

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Bitcoin’s heart of darkness exposed

December 13, 2017 - 09:20 -- Admin

Some months ago, FTAlphaville’s Izzy Kaminska wrote the following: Once upon a time, eurodollars were dollar-like liabilities issued by non-US entities outside of the reach of regulations that usually govern dollar-issuing entities. No minimum reserve requirements, no access to lender of last resort and no registration applied. Most of the time the assets which underpinned

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Macro Morning

December 13, 2017 - 09:00 -- Admin

By Chris Becker Another record high for US stocks, although the NASDAQ retreated ever so slightly, as the USD lifted and Treasuries sold off slightly sending the 10 year yield back up to the “uncle point” of 2.4% before the Fed Meeting starts. Both major economic releases came in on target in Europe overnight with UK

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What are the key risks facing the Australian economy?

December 13, 2017 - 09:00 -- Admin

By Gareth Aird, senior economist at CBA: Key Points: GDP growth has lifted in 2017 and the labour market has tightened. Our base case has these trends continuing over the next two years, but there are a number of downside risks. The ability of monetary policy to support the economy in the event of a

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Boring! New record highs for stocks

December 13, 2017 - 06:05 -- Admin

DXY is off and running as we await the Fed: Weirdly, so is the AUD! Technical no doubt: It crushed EMs: Even though gold sagged: Brent sagged: Though base metals lifted: Big miners didn’t: Nor did EM stocks and they will keep falling if DXY runs: Junk held on: Treasuries were sold: And bunds: With

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