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Articles from MacroBusiness

Rental market to tighten as population ponzi overwhelms construction

October 18, 2017 - 00:15 -- Admin

SQM Research has released its rental vacancy series for September, which revealed no movement in the national vacancy rate over the month but a 0.2% decline over the year: Over the year, decreases in vacancies were recorded in Melbourne (-0.1%), Perth (-0.5%), Adelaide (-0.4%), Hobart (-0.2%), Darwin (-0.4%), and Canberra (-0.1%), whereas increases were recorded

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NZ real estate agents bleeding as sales volumes collapse

October 18, 2017 - 00:06 -- Admin

By Leith van Onselen The most recent REINZ housing statistics revealed a sharp decline in Auckland transaction volumes, which were down circa 30% in the year to August – the lowest level of August sales in six years: With Auckland’s sales tracking at their lowest level in at least five years in 12-month moving average

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Daily iron ore price update ($40s)

October 18, 2017 - 00:05 -- Admin

Iron ore price charts for October 17, 2017: Tianjin benchmark  fell 70 cents to $61.70. Paper took off overnight. Coking futures and physical and are stuck around $180. Steel is stalled. CISA output for late April was up 1.1% to 1.87mt with no sign of any shutdowns yet. Bloomie has some more on the outlook: “The

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Links 18 October 2017

October 18, 2017 - 00:01 -- Admin

Global Macro / Markets / Investing: Fund giant warns over stock market highs – BBC Echoes of the Black Monday Crash of ’87 – Bloomberg The 4 Ds Of Robotization: Dull, Dirty, Dangerous And Dear – Forbes Dealing with a globalised banking sector – EU How Google’s Quantum Computer Could Change the World – WSJ

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Macro Afternoon

October 17, 2017 - 17:44 -- Admin

by Chris Becker Stocks in Asia are taking a pause due to new North Korean tensions even after US stocks took out new record highs overnight. The Aussie dollar fell after the RBA maintained its low interest rate dogma to sustain growth – in house prices at least. In mainland China the Shanghai Composite is

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Has Do-nothing Malcolm “ended the climate wars”?

October 17, 2017 - 14:18 -- Admin

I am going to do back-flip with a triple pike here. Do-nothing Malcolm has circumvented Tony Abbott on carbon: The Coalition party room has endorsed the government’s new energy plan, despite objections from Tony Abbott and others that the policy still has a component aimed at reducing emissions….Energy retailers will be required to meet standards

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CPI preview

October 17, 2017 - 13:29 -- Admin

Via Westpac: September is a seasonally strong quarter due to the post June 30 price resetting of many administered prices and as such, the ABS seasonal factors moderate our estimate to a seasonally adjusted 0.4%. Key factors in Q3 are: the ongoing grocery competition holding back food prices; the annual repricing of the tobacco excise;

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Dodgy FTA’s helped kill the car industry

October 17, 2017 - 13:23 -- Admin

By Leith van Onselen From Robert Gottliebsen (“Gotti”) comes an interesting titbit on the role that Australia’s dud Free Trade Agreements (FTAs) played in the car industry’s demise: The first Toyota closure reason was actually the so-called “free trade” agreements that Australia signed. Probably these agreements had more of an effect on Japanese executives in

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Crushed consumer gives ASX wings

October 17, 2017 - 13:16 -- Admin

Dalian iron ore is still struggling today: Not RIO or BHP: The RIO rally is reckless. Nobody knows what’s coming from China in next few months. Big Gas is lovin’ it’s new guarantee as the Pensioner Killers roar: Big Gold has no time for bears like me, lovin’ the falling AUD: Big Sleazy is pouring

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Low wages growth to scuttle return to Budget surplus

October 17, 2017 - 12:30 -- Admin

By Leith van Onselen Last week, the Parliamentary Budget Office (PBO) released report claiming that middle-income earners will bear the burden of bracket creep (aka ‘fiscal drag’) as wage rises push 1.8 million Australians into higher tax brackets. At the time, I noted that the PBO’s projections around income tax were inflated given they seemed

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