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Articles from MacroBusiness

Oil price to fall further

November 23, 2018 - 12:30 -- Admin

Via Art Berman: Crude markets had a panic attack in August and September that sent prices soaring. Sanity is now returning. Prices have fallen but are likely to move even lower over the next few months. The panic attack was caused largely by Trump’s August 7 announcement that sanctions would be re-imposed on Iran. Anxiety

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NZ immigration continues retrace as Aussies head home

November 23, 2018 - 12:00 -- Admin

By Leith van Onselen Statistics New Zealand released its permanent & long-term migration figures for October 2018, which revealed that immigration into New Zealand has continued to drift back from record high levels, with 61,751 annual net permanent and long-term arrivals landing in New Zealand in the year to October, down from a peak of

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Can Ponzi Pallas save Melbourne house prices?

November 23, 2018 - 11:30 -- Admin

Via Domain: Treasurer Tim Pallas has recommitted to first-home buyer incentives, says Melbourne’s house price decline should only last 12 months and has welcomed the prospect of negative gearing changes under a federal Labor government. Mr Pallas, in a wide-ranging interview with Domain, insisted the underlying fundamentals of Victoria’s housing market were very strong, and

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Another ‘expert’ deflects population blame to foreign students

November 23, 2018 - 11:15 -- Admin

By Leith van Onselen Abul Rizvi, a former deputy secretary in the Immigration department, is the latest to blame the population crush afflicting Sydney and Melbourne on foreign students. From SBS News: The real pressure on Australia’s highly populated east-coast cities was driven by a surge in international students, Mr Rizvi said, while the permanent

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Private schools guzzle taxpayer funding

November 23, 2018 - 11:00 -- Admin

By Leith van Onselen It appears that private schools are rapidly morphing into public schools, given the large amount of public funding they receive, according to a new report published by The ABC. That is, if a private school is defined by who pays, then they are rapidly becoming public: Average figures tell us Catholic

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Little reprieve for CBA’s flash PMI

November 23, 2018 - 10:30 -- Admin

Via CBA: Australian private sector output growth recovered some ground in November, with sharper increases in both the manufacturing and service sectors. That said, the rate of expansion remained relatively modest. Meanwhile, the rate of job creation eased to a three-month low. There were signs of weakening cost inflation, particularly for service providers, while output

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Dirty Dan takes big polling lead from gormless Guy

November 23, 2018 - 10:15 -- Admin

Via The Age: Daniel Andrews’ Labor government is on course for a thumping win in Saturday’s election after extending its lead over its Coalition rivals in the latest exclusive opinion poll commissioned by The Age. The poll predicts a Labor win on Saturday by 54 to 46 per cent of the statewide two-party preferred vote,

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Auctions crash to send house prices lower

November 23, 2018 - 10:00 -- Admin

By Leith van Onselen Some readers underplay reported auction clearance rates as a meaningful indicator for house prices because they are reported on a voluntary basis and tend to exclude a large number of results. The below charts, which plot trend auction clearance rates against dwelling values growth, show why this view is misguided. As

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Royal Commission pounds ASIC

November 23, 2018 - 09:45 -- Admin

Via Banking Day: Then the mood changed, as Orr asked him about the tone of regular meetings between senior ASIC officials and the board member and senior executives of the entities ASIC is regulating, as part of ASIC’s “stakeholder engagement strategy”. While he denied any hint of collusion or a softly softy style approach, Shipton

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October 2018 MB Fund Performance

November 23, 2018 - 09:30 -- Admin

Global equities had the worst monthly fall since May 2012 when the euro sovereign debt crisis and Grexit loomed large. The sell-off was sparked by rising bond rates, some disappointing earnings results in the US (more on outlook than numbers) and weaker global economic data. Sentiment worsened in October due to a cocktail of worries

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