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Manufacturers go after gas cartel

April 17, 2019 - 10:00 -- Admin

Via the AFR comes Australian manufacturing: The federal government should create a public gas company to drive investment in new supply, say major energy users who warn urgent intervention is needed to avert plant shutdowns and mass job losses. …A “Commonwealth Gas Co” could support the development of new gas pipelines and a gas import

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Grattan: Labor’s compulsory super increase will lower wages

April 17, 2019 - 10:00 -- Admin

By Leith van Onselen After Labor last month doubled down on lifting Australia’s superannuation guarantee (compulsory superannuation) to 12%, the Grattan Institute has issued a firm rebuke in its pre-election Orange Book: [Grattan] urges the next government to abandon the current plan to increase compulsory superannuation payments from 9.5 per cent to 12 per cent,

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Migrants sharpen attack against “unfair” elderly parent visas

April 17, 2019 - 09:30 -- Admin

By Leith van Onselen Migrant communities have stepped up their campaign to loosen Australia’s newly established ‘temporary’ elderly parental visas, which from this month will allow up to 15,000 elderly parents of migrants to live in Australia for a continuous period of three, five or 10 years. Several migrant communities have labelled these “absolutely unfair” because

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CCP mouthpiece: Australia “under command” of US

April 17, 2019 - 09:15 -- Admin

Via the Communist Party mouthpiece Global Times: According to Reuters on Saturday, China told Australia at the World Trade Organization (WTO) on Friday that Australia’s restrictions on Chinese 5G technology was “obviously discriminative” and appeared to break global trade rules. However, Australian Trade Minister Simon Birmingham said on Sunday that the Australian government “stands by

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Daily iron ore price update (Brucutu again)

April 17, 2019 - 09:12 -- Admin

Iron ore prices for April 16, 2019: Spot down. Paper easing. Steel too. The news is Brucutu, via Reuters: A Brazilian state court has authorized iron ore miner Vale SA to resume operations at the Brucutu mine, its largest in Minas Gerais state, according to a court document. Brucutu was shuttered in early February by

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China credit drenching turns Australian dollar higher

April 17, 2019 - 08:14 -- Admin

DXY was firm last night as EUR eased: AUD was strong anyway against DMs: Mixed against EMs: Gold sank: Oil jumped again: Metals fell: And miners: EM stocks are still poised for higher: Junk was stable: Treasuries sold: And bunds: The RBA has missed its window: Stocks keep climbing: Westpac has the wrap: Event Wrap

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Macro Morning

April 17, 2019 - 08:00 -- Admin

By Chris Becker  Last night saw risk markets try to breakout of its recent contained mood with US stocks putting in scratch sessions as European bourses found some more risk as Euro and Pound Sterling retreated against USD. Industrial production figures from the US is partly to blame on the spoiling mood while the German ZEW Survey

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Infrastructure Victoria spins population propaganda

April 17, 2019 - 00:20 -- Admin

By Leith van Onselen Infrastructure Victoria has released a incredibly superficial propaganda report, entitled Growing Victoria’s Potential, spruiking the benefits that could arise from the state’s manic population growth, which is expected to see Melbourne’s population balloon to 8 million people by 2051. Below are key extracts from the Executive Summary along with some key charts:

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UBS: CPI to pull donut, trigger early RBA cuts

April 17, 2019 - 00:20 -- Admin

Via the excellent George Tharenou at UBS: Based on our proprietary survey, we cut our Q1 headline CPI forecast to 0.0% q/q (was 0.2%), a sharp slowing from Q4’s 0.5%. This would be the weakest in 3 years, & lower for only 3 quarters in the last 22 years. The key drag is fuel (-9.6%,

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China’s credit drenching turns realty prices up

April 17, 2019 - 00:19 -- Admin

Ah, as night follows day comes Chinese real estate markets already turning as the 2019 credit drenching lifts alt boats, via Reuters: Average new home prices in China’s 70 major cities rose 0.6 percent in March, quickening from a 0.5 percent gain in February, according to Reuters calculation of data released by the National Bureau

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