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CoreLogic weekly house price update: Heavy falls

May 29, 2020 - 00:10 -- Admin

In the week ended 28 May 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.27%: It was the third consecutive weekly decline. The falls were driven by Sydney and Melbourne: Over the first four weeks of March, dwelling values have fallen by 0.44% at the

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Over one quarter of Aussies finally stressed from COVID-19

May 29, 2020 - 00:05 -- Admin

The easing of lockdown restrictions has improved confidence in the Australian economy, according to the latest Melbourne Institute Survey of the Impact of COVID-19 in Australia, which contains responses from 1200 persons aged 18 years and over. However, 40% of survey respondents expect to be impacted for at least another six months and 28% are

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Links 29 May 2020

May 29, 2020 - 00:01 -- Admin

Global Macro / Markets / Investing: Coronavirus pushes global credit rating downgrade threat to record high – Reuters Some 42% Of Jobs Lost In Pandemic Are Gone For Good – Forbes COVID-era junk bond deals begin to go sour in just 2 months – Reuters ‘The Top End of the Economy Will Be Fine …

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Macro Afternoon

May 28, 2020 - 16:30 -- Admin

A busy day in Asia with lots of economic reports confirming the impact the coronavirus is having on world economies, with the RBA all but ruling out negative interest rates as the local appetite for capital expenditure falls sharply. Despite the economic reality, the unrelated share market rally’s continue across the region, save for embattled

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MB Fund Podcast: Maybe more debt isn’t the answer? With Jonathan Rochford

May 28, 2020 - 16:17 -- Admin

Over the past few months we have looked several times at debt crises and how they are likely to be resolved. We had Dr Hail on to talk about MMT, we featured Ray Dalio’s solutions to debt crises and this week we hear the third option: Austrian economics. Jonathan Rochford will take to the podcast

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Scrap JobKeeper. Boost JobSeeker

May 28, 2020 - 14:00 -- Admin

Via News: Australia’s Reserve Bank Governor Phil Lowe has warned ending the $1500 JobKeeper’s wage subsidy too early would be a “mistake” and it may need to be extended beyond September. Breaking with the Prime Minister’s rhetoric that the scheme needs to be phased out as soon as possible, the RBA chief has warned the

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Final auction clearance rates bounce off thin volumes

May 28, 2020 - 13:40 -- Admin

CoreLogic has released the final auction clearance rate for last weekend, which has rebounded to 62.7%; albeit off volumes that are less than a third of last year’s levels: According to CoreLogic: The final weighted average clearance rate came in at 62.7% last week, surpassing the previous week’s 60.4% as the highest result since the

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ABS: 72% of businesses suffer COVID-19 revenue falls

May 28, 2020 - 13:20 -- Admin

COVID-19 has forced 70% of Australian businesses to change how they operate and 72% have suffered revenue declines, according to a new ABS survey: By employment size, 71% of small businesses (i.e. 0-19 persons employed) reported that revenue had decreased as a result of COVID-19 compared with 78% of medium businesses (i.e. 20-199 persons employed)

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Labor trumpets treason

May 28, 2020 - 13:00 -- Admin

Awful to watch. At the AFR comes Joel Fitzgibbon on his long march: Indeed, China is the customer for 36 per cent of Australia’s exports – more than $120 billion worth each year. Their demand for our food and mining products creates hundreds of thousands of Australian jobs. So too does the money invested here

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Australia’s regions hit hardest by COVID-19 job losses

May 28, 2020 - 12:40 -- Admin

The Grattan Institute has analysed job losses at the electorate level, which reveals that regional areas have been much harder hit than inner-city areas: Unsurprisingly, electorates with large tourism industries and a high share of hospitality workers have been hit especially hard… Workers living in rural and regional electorates have been hit much harder than

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