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Articles from MacroBusiness

Fake Treasury bashes Labor with fake tax hikes

April 12, 2019 - 09:45 -- Admin

Goodness me, via the AFR: Scott Morrison has launched an early assault on Labor’s tax agenda by releasing Treasury modelling showing his opponents proposed increases and refusal to match the Coalition’s tax cuts would tally $387 billion during the next decade. The use of Treasury modelling, which the government had prepared before Mr Morrison called

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CBA readies 10k job cuts

April 12, 2019 - 09:30 -- Admin

Via The Australian: Commonwealth Bank boss Matt Comyn is believed to be working on a plan to cut more than 10,000 employees, about $2 billion of costs, at Australia’s biggest and most profitable bank. No wonder Comyn wants to keep the plan secret — at least until after the May 18 election. Margin Call has

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Property parasites swarm election

April 12, 2019 - 09:15 -- Admin

After nine years of debunking their lies, it seems MB is going to have its work cut out over the next five weeks. Form the AFR: More evidence has emerged that the level of negative gearing for new property is already much higher than Labor assumed when predicting how much extra revenue it will collect

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Daily iron ore price update (underlying weakness)

April 12, 2019 - 09:00 -- Admin

Iron ore prices for April 11, 2019: Spot up. Paper calm. Steel up. CISA late March steel output fell sharply and is only up a little year on year. I’ve added a second line (in black) to show what underlying demand is like ex-reforms that shifted illegal scrap production into blast furnaces over the past

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Australian dollar belted with commosites

April 12, 2019 - 07:53 -- Admin

DXY firmed last night as EUR eased: AUD flamed and fell all the way back: EMs were better too: Gold fell: And oil: Plus metals: Big miners were hit: EM stocks too: As US junk flies: Treasuries sold: And bunds: Aussie bonds are still hung up: Stocks were roughly flat: So, the AUD still can’t

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OECD endorses Bill Shorten’s class war

April 12, 2019 - 05:34 -- Admin

This is nicely times for Labor. From the OECD today: Governments need to do more to support middle-class households who are struggling to maintain their economic weight and lifestyles as their stagnating incomes fail to keep up with the rising costs of housing and education, according to a new OECD report. Under Pressure: The Squeezed

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Morgan Stanley: Aussie house prices to keep crashing

April 12, 2019 - 00:15 -- Admin

Via Morgan Stanley: With a lead of three quarters, this suggests that housing weakness is likely to persist through to the end of the year at least, with further downside to both approvals and prices.  Credit supply is holding at very tight levels, with little relief expected post the completion of the Royal Commission. With

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Immigration into Australia is about to surge

April 12, 2019 - 00:15 -- Admin

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released visitor arrivals and departures data for the month of February, which posted surging permanent and long-term arrivals, which broke records on both a monthly and annual basis. In the year to February 2019, there were a record 844,800 permanent and long-term arrivals into

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CoreLogic weekly Australian house price update: more universal falls

April 12, 2019 - 00:12 -- Admin

By Leith van Onselen In the week ended 11 April 2019, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell another 0.15%: Values fell across all major markets: So far in April, home values have fallen by 0.28% at the 5-city level, again with all major capitals falling:

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Links 12 April 2019

April 12, 2019 - 00:01 -- Admin

Global Macro / Markets / Investing: The Problem With Putting a Price on the End of the World – NY Times Oil and gas ‘could lose 95% of its value’ by 2050, consultancy warns – FN London Can we use physics to forecast long run global economic growth? – Nephologue Investors Should Worry If Climate

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