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MacroBusiness Friday, July 30, 2021 - 12:30 Source

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of June. Quarterly mortgage credit growth continued to firm, rising for the 11th consecutive month to 1.8% – the highest rate of growth since 2015: Owner-occupiers continue to drive mortgage growth, rising by 2.2% over the quarter versus

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Renew Economy Friday, July 30, 2021 - 12:02 Source

Federal energy and emissions reduction minister Angus Taylor.</body></html>

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MacroBusiness Friday, July 30, 2021 - 12:00 Source

MUFG with a solid take on AUD: USD continues to correct lower as Fed fails to deliver another hawkish surprise29thJuly2021USD: Gradual QE taper plans encourage further correction lower for USD The US dollar has continued to correct lower following last night’s FOMC meeting with the dollar index falling further below the intra-day high of 93.191

The post Australian dollar fatally linked to China appeared first on MacroBusiness.

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Renew Economy Friday, July 30, 2021 - 11:53 Source

Australia's fleet of more than 80 wind farms blow away monthly production record, even with a day and a half left in month of July.

The post Australia wind farms blow away monthly production record in July appeared first on RenewEconomy.

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MacroBusiness Friday, July 30, 2021 - 11:40 Source

Throughout Australia’s five-year China divorce, one the of most interesting features of relationship breakdown is how much of it is led by Beijing. CCP structural constriction, paranoia and arrogance are its own worst enemy, consistently leading to glass-jawed overreactions, withdrawal from engagement and cancelled deals. Now the world is witnessing the same phenomenon in China

The post China “uninvestable” appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 11:31 Source

The Australian dollar is backing away from its charge 74 cents this morning: Bonds are bidly: XJO ripped out of the gate but has gotten the shakes since: Part of the problem is sagging US futures thanks to lousy Amazon guidance but there is also this: Big Iron is doing its best to ignore it:

The post ASX and iron ore tremble appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 11:20 Source

If macropriudential moves were not already fading on the interminable Sydney Delta outbreak, today’s APRA data pushes it further from sight. The big eight banks lifted specufestor lending to 0.3% monthly for June (with CBA having its own little party): And still only 1.1% year on year: Then there’s Mad Macquarie as usual: Big eight

The post Big bank specufestor mortgages still contained appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 11:17 Source

NSW Health has reported another 170 new COVID infections over the past 24 hours: NSW recorded 170 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. 77 are linked to a known case or cluster – 61 are household contacts and 16 are close contacts – and the source of

The post NSW records 170 new COVID infections appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 11:00 Source

Over many years, Australian Competition and Consumer Commission (ACCC) head, Rod Sims, has issued a spate of warnings about, and voiced opposition to, various asset privatisations being undertaken by governments across the nation. In particular, Sims accused state and federal governments of using privatisation to increase taxes by stealth by selling public assets and businesses

The post ACCC’s Rod Sims lashes privatisations (again) appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 10:40 Source

The Grattan Institute believes Australia needs an 80% vaccination rate to end lockdowns, and believes we can get there by the end of the year: Australia’s ‘Zero COVID’ strategy has allowed us to escape the worst of the pandemic so far: our death toll has been among the world’s lowest, our recession among the shortest,

The post Grattan: 80% vaccination rate required to end lockdowns appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 10:40 Source

The doom loop continues for Evergrande: Two more companies said China Evergrande Group failed to pay its bills on time, adding to signs of a cash crunch at the world’s most indebted developer. Huaibei Mining Holdings Co Ltd. filed a lawsuit against Evergrande in Anhui province, alleging a unit of the company missed payments, according

The post More Evergrande stress emerges appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 10:00 Source

Recently, Domain claimed that the price differential between house and apartments had hit 66%, which is the widest gap on record. This has been confirmed by CoreLogic, which has released a report showing “a 30.5% gap between median house and unit prices, which is the highest on record”. The next chart shows the picture at

The post Houses hit record value lead over apartments appeared first on MacroBusiness.

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xkcd.com Friday, July 30, 2021 - 10:00 Source

This data is actually going into improving our self-driving car project, so hurry up--it's almost at the minefield.

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Renew Economy Friday, July 30, 2021 - 09:43 Source

Origin Energy takes massive hit on value of its coal and gas assets, and on its long term renewable energy contracts.

The post Origin takes massive hit on coal and gas generators and renewable contracts appeared first on RenewEconomy.

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Renew Economy Friday, July 30, 2021 - 09:32 Source

This new record, based on monocrystalline cells developed at LONGi’s Cell R&D Centre, was confirmed in testing carried out at the German Institut für Solarenergieforschung (ISFH), and raises the conversion efficiency of cells based on CZ wafers to a new lev

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MacroBusiness Friday, July 30, 2021 - 09:30 Source

Forex has interesting again as the US dollar is suddenly weak throwing up a range of consequences. EUR took off: Australian dollar rose but much less than DXY fell and it kept falling against the crosses: Commodities rose: Big miners are powering into the building iron ore correction: The China stick save lifted EM stocks:

The post Australian dollar struggles higher as US growth fades appeared first on MacroBusiness.

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Renew Economy Friday, July 30, 2021 - 09:15 Source

Minister for Resources Keith Pitt arrives for Question Time (AAP Image/Mick Tsikas).

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MacroBusiness Friday, July 30, 2021 - 09:00 Source

The ferrous complex was weak on July 29, 2021 as spot fell sharply and paper more. Steel has not updated: In my view, the correction has begun. These are unseasonal price falls and the headwinds are mounting fast. There are three reasons. The first is regulatory, via Bloomie: The export tariff on ferrochrome — used

The post Daily iron ore price update (the correction has begun) appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 08:30 Source

Key GDP and unemployment data in the US overnight put paid to the idea that the Fed  may still be hesitant to normalise interest rates with the USD falling back against all the majors while Wall Street remained elevated.  Commodities all rose in response to the weak USD with gold surging strongly above the key

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Friday, July 30, 2021 - 07:49 Source

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Your Democracy Friday, July 30, 2021 - 07:20 Source

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MacroBusiness Friday, July 30, 2021 - 00:15 Source

The UK’s COVID infection rate continues to fall. Despite easing all remaining coronavirus restrictions on 19 July, the nation’s daily Covid cases have fallen week-on-week for seven days straight. The UK Department of Health yesterday posted 27,734 infections, down 37% on the prior week’s figure of 44,104. Infections are now falling across all age groups,

The post Want to end lockdowns? Get vaccinated appeared first on MacroBusiness.

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MacroBusiness Friday, July 30, 2021 - 00:05 Source

In the week ended 29 July, the CoreLogic daily dwelling values index increased another 0.31% – the equal smallest weekly increase since early February: All major markets except Perth recorded rising values: So far in July, dwelling values have risen by 1.48%, led by Sydney and Brisbane: Quarterly price growth remains turbo-charged at 6.19% across

The post CoreLogic weekly house price update: Perth down again appeared first on MacroBusiness.

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Renew Economy Friday, July 30, 2021 - 00:01 Source

AEMO presents five scenarios for the energy transition, but only one delivers on climate targets and requites zero emissions grid by 2035.

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MacroBusiness Friday, July 30, 2021 - 00:01 Source

Global Macro / Markets / Investing: Fed Launches Standing Repo Facility to Boost Market Liquidity – WSJ How feasible is a negative income tax – In These Times The I.M.F. warns of a lopsided economic recovery but retains its 6 percent global growth forecast. – NY Times The People Who’d Rather Quit Than Give Up

The post Links 30 July 2021 appeared first on MacroBusiness.

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MacroBusiness Thursday, July 29, 2021 - 20:07 Source

AUD/USD   EUR/USD   GBP/USD   USD/JPY   GOLD   US OIL   BITCOIN  

The post Macro Afternoon 29 July 2021 appeared first on MacroBusiness.

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Your Democracy Thursday, July 29, 2021 - 19:01 Source

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Cheeseburger Gothic Thursday, July 29, 2021 - 15:35 Source

This is of a piece with that super spendy burger I found the other day. Except this time it’s just the side dish. Serendipity 3, an Upper East Side greasy spoon offers two hundred bucks worth of tater fingers par boiled in champagne, double fried, and drowned in three forms of truffle. Then dusted with gold shavings.

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Renew Economy Thursday, July 29, 2021 - 15:23 Source

AEMO boss Daniel Westerman on the path to 100 per cent renewables, and getting connections right.

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Renew Economy Thursday, July 29, 2021 - 15:20 Source

Snowy Hydro penstocks Tumut 3TransGrid submits proposal for HumeLink transmission link, estimating it could deliver almost $500 million in benefits.

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