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NBN turns into a costly horror story

October 18, 2017 - 09:55 -- Admin

By Leith van Onselen When the National Broadband Network (NBN) arrived in my area late last year residents were greeted with a barrage of junk mail advertisements from all manner of internet service providers offering competitively priced internet at fast speeds. At the time, I was under contract with Telstra, so I did not consider

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Treasury launches panicked bubble-defence campaign

October 18, 2017 - 09:16 -- Admin

By Leith van Onselen We’ve got the Real Estate Treasurer swanning around New York telling anyone who will listen that there is no Australian housing bubble. Now, Secretary of the Australian Treasury, John Fraser, has given a speech last night at Citi’s annual investment conference, which is worth dissecting for its spin value relating to Australia’s

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Banks pull Brisvegas loans as apartments tumble

October 18, 2017 - 08:51 -- Admin

Welcome to a little credit crunching, via Banking Day today: Suncorp is tightening its lending standards for apartment buyers in the Brisbane property market following recent falls in real estate prices across the city. In a memo sent to Queensland mortgage brokers on Tuesday, the bank said it would no longer accept investment applications for apartments

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RBA rubbishes BCA’s call to lower company tax rate

October 18, 2017 - 08:40 -- Admin

By Leith van Onselen RBA Assistant Governor, Luci Ellis, is the latest to challenge the Business Council of Australia’s (BCA) call to cut Australia’s company tax rate in a bid to boost investment, jobs, growth and wages. From The Australian: Ms Ellis said the corporate tax rate in Australia was “irrelevant” for domestic investors because

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Is King Dollar back?

October 18, 2017 - 06:53 -- Admin

DXY was strong last night and it’s head and shoulders bottom is near perfect if it breaks out: AUD was weak against USD, firm against EUR: It was strong against EMs: Gold was pummeled: Brent is still strong: The base metals lunacy flamed out: As did big miners: And EM stocks: High yield is stable:

The post Is King Dollar back? appeared first on MacroBusiness.

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Labor should back Tunbull’s energy plan

October 18, 2017 - 05:00 -- Admin

Via the AFR: Labor states – or a future federal Labor government – that pursue more ambitious renewable energy targets than those set under the Turnbull government’s proposed new Reliability and Emissions Guarantee will face more costly reliability standards, which could increase the cost of electricity in their markets. Energy Security Board chairman Kerry Schott

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LNG delivers one giant final insult to Australia

October 18, 2017 - 04:49 -- Admin

Via CBA:   LNG is increasingly becoming an important commodity for Australia. We estimate oil and gas production — as measured by value added — will approach iron ore production in the next few years. The upshot is the LNG price is a growing influence on Australia’s terms of trade and AUD. The ongoing recovery

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Why Aberdeen is wrong and Australian housing is a ‘bubble’

October 18, 2017 - 00:25 -- Admin

By Leith van Onselen Let’s recall Aberdeen Asset Management’s argument yesterday that Australia’s housing market is a bubble: “We don’t believe that the Australian housing market is in a bubble”… “The usual features of bubble-type behaviour such as broad synchronisation of price gains across a country, lax bank lending policies, reduced scrutiny of end-buyers, and indiscriminate investor buying, mostly appear missing.

The mystery of the murdered consumer!

October 18, 2017 - 00:21 -- Admin

Via Domainfax: National Australia Bank’s Alan Oster says it’s not exactly clear why retail sales have been so weak lately, but there are plenty of things likely to be limiting spending growth. Wages growth is still near a record low, utility bills are soaring, and there’s been increasing speculation that interest rates may rise. We also

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Decentralisation delusion as Melbourne surges towards 9 million

October 18, 2017 - 00:20 -- Admin

By Leith van Onselen The Australian last week gave a good summary of the population pressures afflicting Melbourne as the city experiences an unprecedented population boom: At the Melbourne train station of Williams Landing in the city’s southwest, the flower beds lining the carpark are repeatedly squashed into the dirt. It’s not that people don’t

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