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MacroBusiness Wednesday, July 28, 2021 - 12:20 Source

Just over a week ago, as UK COVID cases soared to 50,000 a day, an open letter in The Lancet medical journal from more than 1000 doctors labelled Britain’s ‘Freedom Day’ opening up a “dangerous and unethical experiment”. As residents inundated nightclubs, pubs, bars and music festivals, experts warned that COVID cases could soar to

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Renew Economy Wednesday, July 28, 2021 - 12:13 Source

Energy Distribution Network - Electricity Pylons against Orange - optimisedSpark Infrastructure to open its books to suitors after KKR consortium lifted its bid for the network and renewables investor to $5.2 billion.

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The Tally Room Wednesday, July 28, 2021 - 12:06 Source

As the lockdown in Sydney drags on, I’ve decided to release a few more profiles from my guide to the next federal election. This is on top of the other five that I released a few weeks ago.

The three seats I’m releasing today are Hunter, Sturt and Robertson. I picked them to give a diversity of Labor and Coalition seats of varying marginality.

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MacroBusiness Wednesday, July 28, 2021 - 12:00 Source

Westpac with the note: We have revised our outlook for Australian dwelling prices. Back in February we boldly predicted a 20% increase over 2021 and 2022. A stronger than expected surge over the first half of 2021 is now expected to see prices up 18% in the first year alone. Lockdowns will see some loss

The post Westpac: Property boom to bust in 2023 appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 11:40 Source

June was another strong month for the stock market. Our tactical portfolios performed well, up between 0.9% and 2.1% over the month. On the one hand, we timed the rotation out of value stocks and into quality stocks well; the inflation fears that were so prevalent a few weeks ago have faded as our inventory supercycle thesis

The post MB Fund June performance appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 11:36 Source

The ABS has released Q2 CPI data, which shows that inflation rose by 0.8% over the quarter and by 3.8% over the year – basically in line with analyst’s expectations of a 0.7% quarterly increase and a 3.8% rise year-on-year. The large annual increase in CPI was driven by the ‘base effect’, since CPI fell

The post Aussie CPI surges as expected appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 11:20 Source

My sources are telling me Sydney is in lockdown for another two months at least. Hence, the following is completely bonkers from the state and federal Coalition: Premier Gladys Berejiklian is refusing to publicly lobby the federal government for the return of JobKeeper despite Sydney’s lockdown being extended by four weeks and new data revealing

The post Give Sydney JobKeeper or expect violence appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 11:20 Source

NSW Health has recorded another 177 locally acquired COVID cases over the past 24 hours: NSW recorded 177 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. pic.twitter.com/UPgvzflhFm — NSW Health (@NSWHealth) July 28, 2021 Of these locally acquired cases, 74 are linked to a known case or cluster –

The post NSW records another 177 COVID cases appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 11:00 Source

This may seem like a cheap shot. But optics is everything in politics. Only a day after Labor dumped the negative gearing and capital gains tax reforms taken to the past two elections, leader Anthony Albanese sold his Marrickville investment house for $2.35 million, banking a $1.2 million gross profit: From the article: [Albanese] and

The post Albo cashes investment property as negative gearing reform scrapped appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 10:40 Source

CPI preview for later today. Westpac with the note: •Westpac’s forecast for the Q2 CPI is 0.9% which, with base effects from the Covid hit last year, will lift the annual rate to 4.0%yr from 1.1%. •The trimmed mean forecast is 0.5%qtr lifting the annual rate lift from 1.1%yr to 1.6%yr. The six-month annualised pace

The post CPI preview appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 10:20 Source

The doom loop devouring Evergrande dramatically accelerated yesterday after its failed special dividend gambit turned stock market crash: Down 13.5% with bonds trading at half face value. UBS put the boot into the stock as well. Having called the rout earlier this year, it doubled down and said the stock would halve again. S&P piled

The post Evergrande infarction siezes heart of Chinese apartment ponzi appeared first on MacroBusiness.

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Renew Economy Wednesday, July 28, 2021 - 10:19 Source

building infrastructure zero emissions Solar Panel and Workers - optimisedKarl Brown from Instyle Solar on the myriad of challenges to overcome.

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The Australian Independent Media Network Wednesday, July 28, 2021 - 10:11 Source

Good morning. We are hearing that people have not been able to leave comments on The AIMN since our site migration yesterday. We thank those readers for letting us know. The issue is due to an updated security system which appears to be a little over-zealous. I’m hoping this can be corrected within the hour.…

The post No comments! appeared first on The AIM Network.

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Renew Economy Wednesday, July 28, 2021 - 10:00 Source

climate protest - sydney - michael mazengarb - optimised

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MacroBusiness Wednesday, July 28, 2021 - 10:00 Source

The AFR’s Joe Aston has done a terrific job highlighting the widespread rorting of the JobKeeper scheme, which saw $12.5 billion of taxpayers’ money paid to entities that did not ultimately satisfy its eligibility criteria in only the scheme’s first 12 weeks, according to the Parliamentary Budget Office (PBO): In the total 24 weeks of

The post The biggest corporate welfare handout in Australian history appeared first on MacroBusiness.

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xkcd.com Wednesday, July 28, 2021 - 10:00 Source

The plug fits really snugly, so it should be safe in a crash.

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MacroBusiness Wednesday, July 28, 2021 - 09:30 Source

The ferrous complex stalled again on July 27, 2021 as spot fell, paper too and steel as well, finally: The culprit was yesterday’s news that China will likely impose new restrictions on steel exports, which adds to a long line of regulatory efforts to dampen iron ore prices.  My view is that each is pretty

The post Daily iron ore price update (rising inventories) appeared first on MacroBusiness.

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THE BLOT REPORT Wednesday, July 28, 2021 - 09:22 Source

Former federal deputy chief medical officer, Dr Nick Coatsworth was interviewed on Sky News and in a response to the question ‘so who are the people to listen to, Nick?’ from Peter Stefanovic, he replied: “Well, I think when you hear your leaders speak; I mean, there’s a difference between experts and leaders, Pete. I think that experts, sure, give the view as you see it, that’s fine, within your swim lane, because some experts work in a very narrow sphere, Pete, but they’ve had a sort of creep in terms of what they’re asked to comment on, and they don’t seem to mind swimming outside a swim lane.

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MacroBusiness Wednesday, July 28, 2021 - 09:00 Source

CBA’s chief economist, Gareth Aird, with the note: Overview For most of H1 21 Australia looked on track to live up to its namesake as “the lucky county”. Economic outcomes were strong, COVID-19 was by and large not circulating in the community and the vaccine rollout was moving forward, albeit slowly. We appeared very much

The post CBA: Australian economy plunging into “deep contraction” appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 08:30 Source

Strong corporate earnings could not keep Wall Street elevated overnight, as the self induced selloff in Chinese tech issues turned into a bath of blood now spilling over and upsetting the mood in risk taking world. Treasury yields fell back to their recent lows while the USD was mixed everywhere, selling off mildly against Euro

The post Macro Morning appeared first on MacroBusiness.

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Cheeseburger Gothic Wednesday, July 28, 2021 - 07:27 Source

I’m back from hospital a couple of days now. Not up for much, just a lot of couch time, some reading and streaming. Occasionally dipping my toe into the fire hose of crazy on Twitter. (Haven’t been back to FB yet).

One nice thing I saw on the bird site was the new Ghostbusters trailer. It looks great. I love the way they’ve focused in on a bunch of misfit kids, Goonies style. I think the small town setting is a brilliant switch up. And even though the trailer is only a minute or so long, it gave me all the feels.

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MacroBusiness Wednesday, July 28, 2021 - 07:21 Source

DXY eased last night as we approach Fed day tomorrow. We’d better hope that the Fed doesn’t rev up taper or all hell is going to break loose in EMs. EUR rallied: The Australian dollar was hit pretty hard on the crosses: Gold and oil were both soft: \ Base metals calmed down: Big miners

The post Australian dollar sickened by China contagion appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 00:05 Source

I am currently pulling property-related data for an upcoming subscriber special report on the property markets of English-speaking nations. Yesterday I uncovered a treasure trove of data on Ireland, which has managed to successfully deleverage from one of the world’s biggest property bubbles leading into the 2008 Global Financial Crisis (GFC). The below charts tell

The post Ireland shows how to successfully wean off property appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 00:05 Source

The propertocracy has won. It’s the end of the line for conscientious objectors. Not courtesy of the blood-sucking interests. Rather via the hand of those that set out to end it and instead succumbed to its corrupt siren song. As Labor gives up on property tax reform, any and all reform actually, the thirty-year Australian

The post Why Anthony Albanese must never see power appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 28, 2021 - 00:01 Source

Global Macro / Markets / Investing: Universal Basic Income Now or Never – Martinhies Boeck.com A Key Gauge of Future Inflation Is Easing – WSJ Why are used cars insanely expensive right now? – The Hustle Stock futures decline amid renewed virus, growth concerns – Yahoo Competition from online platforms and the impoverishment of newspapers

The post Links 28 July 2021 appeared first on MacroBusiness.

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Harrangue Man Tuesday, July 27, 2021 - 17:42 Source

I went for a dusk ride and it was deliciously cold The path has a fresh layer, a black ribbon neatly edged against grass, so no more testicular-shuddering* on divots and ruts. 

Reasonable traffic and quiet, clean air—Canberra is bliss.

*Vaginal jarring?

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MacroBusiness Tuesday, July 27, 2021 - 17:00 Source

A bloodbath in Chinese tech stocks is putting a dampener on risk taking here in Asia while European and US futures indicate lower opens this evening. Risk currencies like the Aussie dollar are falling back while commodities are holding on, although gold continues to drop below the $1800USD per ounce level. Bitcoin is holding on

The post Macro Afternoon appeared first on MacroBusiness.

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Your Democracy Tuesday, July 27, 2021 - 16:59 Source

putin navyputin navy

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Putin intimidates the world with the power of the Russian Navy

 

Russian President Vladimir Putin, in his speech dedicated to the Day of the Russian Navy, recalled the threats that Russia is currently facing from a number of countries.

 

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The Australian Independent Media Network Tuesday, July 27, 2021 - 16:30 Source

Sig O”Phant: Good evening, tonight we’re bringing you an interview with the Prime Minister. Good evening, Mr Morrison.  Morrison: Evening.  Sig: Now, this is going to be a hard-hitting interview and I’m not going to let you get away with anything because that’s my job.  Morrison: Of course, Sig: So I have to ask the…

The post “This Won’t Be A Sympathetic Interview, Mr Morrison!” appeared first on The AIM Network.

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Renew Economy Tuesday, July 27, 2021 - 16:10 Source

Victoria big battery Neoen TeslaAustralia's biggest battery is ready to begin production with its Tesla Megapacks, but Elon Musk has warned of looming supply crunch.

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