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Articles from MacroBusiness

Chinese steel demand booming or breaking?

February 1, 2019 - 12:00 -- Admin

Yesterday we saw a strong rebound in the China steel PMI via MySteel: China’s Purchasing Managers’ Index (PMI) for the steel industry returned to the expansion zone, scoring 51.5 after a strong month-on-month growth of 5.9 basis points or a recovery for the second month after struggling in the contraction range over November-December 2018, amid

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Morgan Stanley: RBA to shift to easing bias

February 1, 2019 - 11:45 -- Admin

The oil tanker begins its turn, via Morgan Stanley: “We have removed rate hikes from our 2020 outlook, as our AlphaWise research points to fragilities in the household sector and a more prolonged consumer adjustment.” “Weakness in the housing/consumer sectors should continue through 2019,and we think further forecast downgrades from the RBA and the adoption

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Now you can sue that AirBnB specufestor

February 1, 2019 - 11:30 -- Admin

Good new this, via Domain: Unruly Airbnb guests will soon cause more headaches for their hosts, as neighbours gain new legal powers to seek compensation of up to $2000 and bans for problem rentals. But a blindspot in the apartment-focused legislation means free-standing houses are completely unaffected, one of the law’s key architects has warned.

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CoreLogic: House prices falling at “fastest rate ever”

February 1, 2019 - 11:15 -- Admin

Via News: “If you had asked me in September last year I probably would have been surprised to see Sydney and Melbourne values down more than 4 per cent over the rolling quarter,” said CoreLogic head of research Tim Lawless. “We have seen the downturn accelerate over the last three months. At 4 per cent

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Turnbull’s ghost hovers behind Liberal Sheilas Party

February 1, 2019 - 11:00 -- Admin

Yesterday I noted that the Liberal Sheilas movement was not much more than a hollow echo of Malcolm Turnbull’s dubious values: The candidates share independence, climate change consciousness, social progressiveness, immigration sympathies and political centrism but they do split over how these are interpreted. Steggall is against Labor tax reforms, Yates is half for them, presumably

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Credit Suisse: Europe is sinking

February 1, 2019 - 10:45 -- Admin

More great stuff from the excellent Damien Boey today: European growth has slowed sharply in recent quarters. In 4Q, GDP expanded by a meagre 0.2%. This followed another meek 0.2% growth reading in 3Q. Year-ended growth has slowed to 1.2% in 2018 from 2.7% in 2017. Compositionally, there are reasons to be concerned as well.

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The Greens should have split

February 1, 2019 - 10:30 -- Admin

Via Domain: Former federal Greens leader Bob Brown held talks with a group of NSW Greens MPs about forming a new breakaway party as the civil war inside the state branch reached boiling point. The discussions, which were continuing among the MPs as late as last December, advanced to the point that designs for a

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Capital Economics: RBA falling behind housing “threat”

February 1, 2019 - 10:18 -- Admin

Via Capital Economics: The RBA will probably reduce its GDP growth forecasts but should still signal that the next move in rates will be up Our more pessimistic outlook for economic activity, the labour market and inflation suggest that the Bank may instead have to cut interest rates before long. We believe that the Bank

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CoreLogic: Aussie capital house prices fall coast to coast

February 1, 2019 - 10:00 -- Admin

Via CoreLogic comes the full January house price report: The first month of the New Year has seen a continuation in the broad-based housing market weakness with every capital city apart from Canberra recording a month-on-month fall in dwelling values. Full report.

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Another retailer collapses

February 1, 2019 - 09:45 -- Admin

Missed this yesterday. Napolean Perdis this time: “I blame a lot of factors, from greedy landlords who will not allow us out of leases and who then charge us ‘de-fit’ costs on the stores … that’s cost me $3.5 million alone. The malls are dead, there’s no foot traffic, everyone’s buying cosmetics online but the

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