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Macro Afternoon

August 15, 2017 - 16:18 -- Admin

by Chris Becker The bounce continues across Asia with green across the board for stock markets as the USD rallies on the back of renewed vigor for interest rate rises. The Korean situation has eased in terms of tension, giving markets respite as they follow the great start to the week from transatlantic markets overnight.

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Turnbull’s tower shakes as Katter pulls support

August 15, 2017 - 12:31 -- Admin

Via The Australian, the deal is off: Bob Katter says he will no longer guarantee supply or confidence in the government in another blow to the Coalition, which is still reeling from the fallout over the Barnaby Joyce dual citizenship drama. Mr Katter said it was “back to the drawing board” in negotiations for his support.

The post Turnbull’s tower shakes as Katter pulls support appeared first on MacroBusiness.

Trend new car sales hit another record on surging SUVs

August 15, 2017 - 12:12 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) today released new motor vehicle sales for the month of July, which registered a 2.0% seasonally adjusted fall in the number of sales over the month but a 1.8% rise over the year: Six jurisdictions reported decreases in new car sales in July whereas two

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VIC government hides foreign property buyer tax windfall

August 15, 2017 - 12:10 -- Admin

Via Domainfax: Foreign purchasers are buying as much as 40 per cent of all new apartments in Melbourne, with new figures showing a surge in a tax raised from offshore investment. Official data, released to The Age under freedom of information legislation, reveals that a tax on foreign buyers of residential property, introduced in mid-2015, has become

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Road rage: 300,000 old, angry drivers to lose jobs to Skynet

August 15, 2017 - 11:55 -- Admin

From the US Department of Commerce: The expected introduction of autonomous, or “self-driving,” vehicles (AVs) promises to have a potentially profound impact on labor demand. This paper explores this potential effect by identifying the occupations most likely to be directly affected by the business adoption of autonomous vehicles.  In 2015, 15.5 million U.S. workers

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Long-term arrivals into Australia surges

August 15, 2017 - 11:50 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of June, which registered another lift in annual net permanent and long-term arrivals, which remains at turbo-charged levels. In the year to June 2017, there were 742,810 permanent and long-term arrivals into Australia – up

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RBA minutes perfectly neutral

August 15, 2017 - 11:39 -- Admin

From the happy idiots: Domestic Economic Conditions Members commenced their discussion of the domestic economy by noting that the June quarter inflation data had been in line with the Bank’s expectations and provided further confirmation that inflation had increased since 2016. Underlying inflation was ½ per cent in the June quarter and headline inflation was only

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US wage growth better than it looks?

August 15, 2017 - 11:32 -- Admin

Via the Fed: The July jobs report from the U.S. Bureau of Labor Statistics brought welcome news on wage growth: Median weekly earnings rose 4.2% on an annual basis, the fastest pace seen since 2007. The underlying story about wage growth may be even better than the headline number suggests, according to updated work by

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Santos writes off more of the great white elephant

August 15, 2017 - 11:06 -- Admin

From Australia’s worst company, STO: That’s nearly $3bn in write downs on GLNG now. It only owns 30% of the great $18.5bn elephantine failure so over half of the carrying value is now gone. Worry not, the rest will disappear in due course as those oil forecast are never met. As it throws loss-making gas

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