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MacroBusiness Saturday, March 9, 2024 - 00:10 Source

CoreLogic’s daily dwelling values index continues to record solid growth, with values rising by 0.7% over the past 28-days at the 5-city aggregate level: As shown above, Perth (1.8%), Adelaide (1.1%) and Brisbane (0.9%) are recording much faster value growth than Sydney (0.5%) and Melbourne (0.3%). On Thursday, we received data on housing finance commitments

The post A warning shot for Australian house prices appeared first on MacroBusiness.

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MacroBusiness Saturday, March 9, 2024 - 00:01 Source

Earlier this week, Domain released data showing that Australia’s rental vacancy rate fell to a record 0.7% in February, with all major markets and the combined regions at or near record low vacancy: Now PropTrack has released its Rental Affordability Report, which shows that “Australia’s rental affordability is at its worst level on record”. PropTrack

The post Australia’s rental market is stuffed appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 23:50 Source

International Reads: Exclusive: Biden eyes antidote to Americans’ Trump “amnesia” in State of the Union – Axios Tesla’s value has slumped by $234 billion this year — that’s more than McDonald’s, Disney, or Nike are worth – Business Insider US salaries are falling. Employers say compensation is just ‘resetting’ – BBC Fed Chair Jerome Powell

The post Weekend Reading and MB Media Appearances appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, March 8, 2024 - 22:00 Source

Continued from Is Australian democracy at risk from an authoritarian leader? One day on a tranquil Sunday, I found myself lost in thought as the rain gently tapped on the rooftop, prompting me with profound questions. The word ‘democracy’ keeps coming back to me, and though I have written about it before, my inner political…

The post Significant changes to a worn-out Australian democracy require some positivity from Peter Dutton appeared first on The AIM Network.

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The Australian Independent Media Network Friday, March 8, 2024 - 19:40 Source

By unashamed believer in Love, guest columnist Tess Lawrence   The romance between the Navalnys, Alexey and Yulia is destined for historical and cinematic heroic grandeur, now that Vladimir Putin’s nemesis has been put to death by murder most foul. For sure, in due course, there will be a film, a popera, a musical, a docudrama…

The post Alexey and Yulia: Faith, hope … and the greatest of these is love appeared first on The AIM Network.

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Your Democracy Friday, March 8, 2024 - 17:13 Source

US ‘will not bow down’ to Russia – BidenThe US president urged Republicans to unblock military aid to Kiev in his State of the Union address

The US will not stop supporting Ukraine during its conflict with Russia, President Joe Biden said in his State of the Union address on Thursday night.

Russian President Vladimir Putin is hell-bent on “sowing chaos around Europe,” Biden claimed.

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MacroBusiness Friday, March 8, 2024 - 17:00 Source

Asian share markets are putting in strong sessions to finish the trading week, rising in response to bullish confidence on Wall Street overnight as the USD continues to fall alongside lower bond yields. This is keeping the Australian dollar on a tear, having recovered well above the 66 cent level this afternoon. Oil prices are

The post Macro Afternoon appeared first on MacroBusiness.

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Old

John Quiggin Friday, March 8, 2024 - 16:51 Source

In a few days time, I’ll be lining up in the 65-69 category for the Mooloolaba Olympic triathlon (1500m swim, 40km cycle, 10km run)[1]. People in this age category are commonly described as “aging”, “older”, “seniors”, “elders” and, worst of all, “elderly” (though this mostly kicks in at 70). The one thing we are never called is “old”. But this is the only term that makes any sense. Everyone is aging, one year at a time, and a toddler is older than a baby. Senior and elder are similarly relative terms. And “elderly” routinely implies “frail” (a lot of old people are frail, but many more are not.

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Left Focus Friday, March 8, 2024 - 16:08 Source

 

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Renew Economy Friday, March 8, 2024 - 15:34 Source
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Renew Economy Friday, March 8, 2024 - 15:26 Source
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Cheeseburger Gothic Friday, March 8, 2024 - 15:24 Source

I’m so looking forward to this show because I tried to play the game and failed. I can’t remember why now. There was just something about it that didn’t stick for me. And yet I love the design language and imagined world of that game.

So I’m hoping the TV adaptation turns out to be as good as the trailer is promising.

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Renew Economy Friday, March 8, 2024 - 14:26 Source
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Renew Economy Friday, March 8, 2024 - 14:03 Source
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MacroBusiness Friday, March 8, 2024 - 14:00 Source

Independent economist Tony Alexander has released his latest survey of real estate agents, which shows that New Zealand’s nascent housing rebound has well and truly stalled. This should comfort the Reserve Bank and, alongside the stalling economy, provide further indication that the official cash rate could be cut later this year. Housing upturn stalls for

The post Reserve Bank relief as housing market stalls appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 13:30 Source

Goldman with the note. Concentration within the US equity market has surged to a multi-decade high. The 10 largest US stocks now account for 33% of S&P 500 market cap and 25% of S&P 500 earnings. The outperformance of the largest stocks has helped lift the overall market. During the past 12 months, the aggregate

The post A century of Magnificent 7s appeared first on MacroBusiness.

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Digitopoly Friday, March 8, 2024 - 13:25 Source

The commercial future of AI will soon be bigger than the actions of any firm, individual, research team, or open-source community. In the near term, a massive tailwind of potential use cases and nearly completed projects will determine the rate of progress in creating value for users and suppliers. Still, the source of the next frontier commercial breakthrough and the distribution of profits look undetermined and, for reasons to be explained, underdetermined.

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Digitopoly Friday, March 8, 2024 - 13:01 Source

Large language models (LLMs) have overrun commercial markets, more like a tsunami than a normal technical wave of interest. The topic is everywhere –news stories, blogs, podcasts, startup investments, analyst reports, hackathons, and government announcements. A virtual frenzy surrounds it.

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MacroBusiness Friday, March 8, 2024 - 13:00 Source

But nowhere enough yet. They are now pricing a measly three cuts in 18 months: My view is it will be double that, at least. I have no idea why the market is still so hawkish. Inflation is falling well ahead of the RBA outlook: The economy is in a stall: And dead ahead is

The post RBA interest rate futures dove-up appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 12:30 Source

Over the past year, AMP chief economist Shane Oliver has called for lower levels of immigration to alleviate Australia’s housing crisis. In September 2023, Oliver published a research note explicitly explaining how high levels of net overseas migration were behind Australia’s housing shortage and why immigration levels need to be reduced to give Australia any

The post Shane Oliver back peddles on immigration appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 12:00 Source

On Thursday, I was interviewed by Tom Elliott on Melbourne’s 3AW Morning show where I explained the recession afflicting Australian households. Below are the highlights. Tom Elliott: The economy appears to be stuffed. Economic figures that came out yesterday showed that for most of 2023, we were in what is called a per capita recession.

The post Australia’s economy is much worse than it looks appeared first on MacroBusiness.

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THE BLOT REPORT Friday, March 8, 2024 - 11:37 Source

An academic colleague of mine visited the Soviet Union (in the 1980s) on some sort of exchange program to do something geological with scientists in Moscow. While staying in an academy of science hotel, he was having a quiet drink by himself in the bar of the hotel when a woman with two men came into the bar. Then ensued an altercation of some sort between the two men, who subsequently left. Then the woman came over to my colleague and started talking to him in excellent English. After this obvious ruse, when he finished his drink, my colleague then excused himself and went to his room.

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MacroBusiness Friday, March 8, 2024 - 11:30 Source

On this week’s Treasury of Common Sense on Radio 2GB I discussed the Q4 National Accounts data from the Australian Bureau of Statistics (ABS), which showed that Australian households are in a deep recession. I also discussed the latest housing data, which portends a deepening of Australia’s rental crisis. Below are key extracts from the

The post Australian households have been smashed appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 11:00 Source

The latest data from the Federal Chamber of Automotive Industries (FCAI) shows that just over 105,000 new cars were delivered in January, a 20.9% increase on January 2023. Over the year, 1.24 million cars were delivered, the highest number on record: The breakdown shows that SUVs continue to dominate sales, with 692,500 units delivered in

The post Booming car sales evidence of easing supply chains appeared first on MacroBusiness.

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xkcd.com Friday, March 8, 2024 - 11:00 Source

'At the stroke of midnight, your brother will be hurtling sideways at an altitude of 150 meters' is a regular physics prediction about your nonmagical trebuchet, whereas 'you are cursed to build a brother-launching trebuchet' falls out of the Lagrangian.

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MacroBusiness Friday, March 8, 2024 - 10:30 Source

The MB fund is a pioneer in the world of direct indexing. Direct indexing offers a bespoke approach to investing, allowing for unprecedented customization and control over your investment portfolio at minimal costs. IMAP is running a direct indexing conference this month and we would love to see you there: Register for Melbourne 18 Mar

The post Join us at IMAP for the future of investing: Direct Indexing appeared first on MacroBusiness.

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The Australian Independent Media Network Friday, March 8, 2024 - 10:16 Source

A new report reveals a growing crisis of women and children fleeing domestic and family violence into homelessness prompting calls for an urgent funding package to provide pathways to safe housing.  Homelessness Australia’s Homelessness and domestic and family violence: State of Response Report for International Women’s Day analyses Australian Institute of Health and Welfare data…

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The Australian Independent Media Network Friday, March 8, 2024 - 10:10 Source

Plan International Australia Media Release   New research by Plan International Australia, released as the world marks International Women’s Day has revealed that awareness of how gender inequality manifests in some of the most devastating ways in Australia – and in more vulnerable contexts overseas – is alarmingly low. Almost half of Australians (47%) surveyed in…

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MacroBusiness Friday, March 8, 2024 - 10:00 Source

Interesting charts by Justin Fabo at Antipodean Macro demonstrate how Australians have been particularly hard-hit by rising mortgage rates. Although average interest rates on new housing loans have risen to around the average of developed nations: The average interest rate on outstanding housing loans is among the highest in the developed world, behind Norway: Separate

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MacroBusiness Friday, March 8, 2024 - 09:30 Source

The Market Ear with the latest on equity positioning. Are we playing that 1995 analogy after all? We pointed out this analogy in February more as a “fun” right tail possibility than a realistic scenario, but imagine if this plays out? Refinitiv The world is not enough You know things are extreme when SOX is

The post When in a bull market, be bullish appeared first on MacroBusiness.

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