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MacroBusiness Tuesday, September 13, 2022 - 10:40 Source

The Market Ear on the dancing, dancing, dancing market. Then splat as the macro reality hits… ——————————————————————————————– FOMO-esque…. Remember money on the sidelines? New recent highs in “cash in mutual funds”. Very defensive. GS Almost panic The Levkovich index is almost down at panic levels. Bloomberg’s John Authers writes: ” Current levels imply a 95%

The post Equities dance on as the exits shut appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 13, 2022 - 10:20 Source

CBA’s economics team has released its Household Spending Intentions Index for August 2022, which shows that the Reserve Bank of Australia’s (RBA) aggressive interest rate hikes have begun to dent discretionary spending. Key findings are as follows: The CommBank HSI Index rose by 0.8%/mth in August 2022, taking the index up to 115.5 (just below

The post CBA: RBA rate rises dent discretionary spending appeared first on MacroBusiness.

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Renew Economy Tuesday, September 13, 2022 - 10:09 Source

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MacroBusiness Tuesday, September 13, 2022 - 10:00 Source

Barclays with the report. More downgrades to come. GDP growth forecasts reduced to 2.6% for 2022 and 4.5% for 2023 China’s growth momentum has weakened since July, when we lowered our full-year forecast to 3.1% to reflect the weak Q2 GDP print. Specifically, we note three major developments have ledus to further downgrade to our

The post Chinese property crash gets worse appeared first on MacroBusiness.

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xkcd.com Tuesday, September 13, 2022 - 10:00 Source

Don't worry, the dogs are all fine. That's actually kind of the problem.

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MacroBusiness Tuesday, September 13, 2022 - 09:30 Source

Peter Zeihan with the latest summary.

The post Ukraine strikes back appeared first on MacroBusiness.

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Renew Economy Tuesday, September 13, 2022 - 09:21 Source

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MacroBusiness Tuesday, September 13, 2022 - 09:00 Source

Make no mistake, the Australian energy crisis is not over. The gas price has broken out of its August price range of $15-20Gj as the idled sixth train on Curtis Island has resumed operations. As night follows day, electricity prices are tracking higher: Today’s prices are still enough to add 3.5% to the CPI over

The post Evil gas cartel tightens grip on Albo’s throat appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 13, 2022 - 08:30 Source

Another solid night of improving risk sentiment on stock markets, with European bourses up 2% or more across the continent, while Wall Street also continued its rally as traders begin to anticipate tonight’s latest US inflation print. The USD Index continued to pull back, down another 0.6% mainly due to Euro surging above parity while

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Tuesday, September 13, 2022 - 07:39 Source

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MacroBusiness Tuesday, September 13, 2022 - 00:10 Source

In May, The AFR reported that the volume of fraudulent student visa applications had soared, dominated by India and Nepal. Former regulator for the vocational training sector, Claire Field, explained that last year’s decision to lift restrictions on the number of hours international students could work had attracted swathes of non-genuine students. In turn, “there

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MacroBusiness Tuesday, September 13, 2022 - 00:05 Source

Brisbane house prices are falling at a record pace, according to CoreLogic’s daily dwelling values index. The quarterly rate of value decline accelerated to 3.6% as of 11 September, which is the fastest rate of decline since September 2008: Brisbane’s peak-to-trough decline has also hit 3.6%, with prices in freefall: The next chart plots the

The post Brisbane house prices collapse at record pace appeared first on MacroBusiness.

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Renew Economy Tuesday, September 13, 2022 - 00:05 Source

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MacroBusiness Tuesday, September 13, 2022 - 00:01 Source

Global Macro / Markets / Investing: African nations demand climate change financing ahead of COP27 – Aljazeera Yellen Says No Strong Labor Market in Long Run If Inflation High – Bloomberg Economist Michael Hudson on debt relief, inflation, Ukraine disaster capitalism, petrodollar crisis – Multi Polarista US Inflation Will Guide Fed Readying Next Hike: Eco

The post Links 13 September 2022 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, September 12, 2022 - 20:46 Source

Now I promise not to spend too much time on this but I feel the need to point out that the idea that King Chuckles can’t comment on climate change because it’s just a wee bit controversial is one of those things that needs a bit of an examination. I’m just going to do a…

The post Everything Is Political So Even Saying Nothing Is Political If You Think About It! appeared first on The AIM Network.

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Renew Economy Monday, September 12, 2022 - 20:36 Source

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John Quiggin Monday, September 12, 2022 - 19:14 Source

With the death of Queen Elizabeth, the issue of an Australian republic has naturally arisen. The immediately following question is whether we should support a ‘minimal’ republic, as similar as possible to our current system, or replace the Governor-General with an elected President.

The starting point for both monarchists and supporters of a minimal republic. is the claim that ‘the existing system has worked well’. This is incorrect in two crucial respects

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The Australian Independent Media Network Monday, September 12, 2022 - 19:00 Source

By 2353NM   The problem with the proposed tax cuts, the Jobs Summit, the emissions reduction target or any other policy that Prime Minister Albanese took to the election is that it was a promise that was made in the run up to the election. Certainly, the world has changed since 2019 and if really expensive…

The post Promises, promises appeared first on The AIM Network.

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Renew Economy Monday, September 12, 2022 - 18:12 Source

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Your Democracy Monday, September 12, 2022 - 16:20 Source

 

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MacroBusiness Monday, September 12, 2022 - 16:00 Source

Asian stocks are continuing their rebound from the end of the previous trading week, with Chinese shares taking a long weekend break while the slightly lower USD is helping domestic stocks but not leading into higher gains in domestic currencies. The Australian dollar is basically unchanged as it remains slightly above the 68 cent level

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Monday, September 12, 2022 - 14:47 Source

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Renew Economy Monday, September 12, 2022 - 14:36 Source

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MacroBusiness Monday, September 12, 2022 - 14:00 Source

Independent economist Tony Alexander’s monthly Spending Plans Survey is out, which shows that New Zealand households are still planning to cut back on spending amid soaring interest rates and inflation. A net 11% of the 1,672 survey respondents plan to cut consumption spending over the next 3 to 6 months. While this was an improvement

The post Reserve Bank veers New Zealand toward recession appeared first on MacroBusiness.

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Renew Economy Monday, September 12, 2022 - 13:34 Source

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MacroBusiness Monday, September 12, 2022 - 13:30 Source

Coolabah Capital’s Chris Joye and economist Stephen Koukoulas (‘the Kouk’) have given two opposite perspectives on Australia’s housing correction. The Kouk claims that Australia’s house price correction is nothing special and maintains his forecast of a 7% peak-to-trough decline nationally: Recent data on house sales show auction clearance rates have stopped deteriorating… Also supporting the

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The Australian Independent Media Network Monday, September 12, 2022 - 13:12 Source

Global, personal, individual. The reactions to the death of Queen Elizabeth II seemed to catch even unsuspecting republicans off guard. In Australia, former Prime Minister Malcolm Turnbull, who had led the Australian Republic Movement, was a mess of reflection on the passing. The old enemy France glowed with a distant familial warmth.  In the United…

The post Cool Subjects: The Other Side of Elizabeth II’s Reign appeared first on The AIM Network.

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MacroBusiness Monday, September 12, 2022 - 13:00 Source

The Market Ear continues its chronicling of the village idiot market that is equities. Reflexivity works until it doesn’t. Note that Morgan Stanley has no idea about China so disregard that stuff!  Remember money on the sidelines? New recent highs… GS The “asymmetry” chart stressing bears Guess our most recent bounce logic has some more

The post Stocks bounce because nobody wants them appeared first on MacroBusiness.

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MacroBusiness Monday, September 12, 2022 - 12:30 Source

Judging by the National Skills Commission’s Internet Vacancy Index (IVI) – a monthly count of online job advertisements – Australia’s job ads have peaked. As shown in the next chart, total job advertisements appear to have topped out at 301,061 after roughly doubling from their pre-pandemic level: As expected, job ads are highest across the

The post Aussie job ads top out appeared first on MacroBusiness.

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Renew Economy Monday, September 12, 2022 - 12:13 Source

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