Blogotariat

By Denis Bright   Victorians rejected the instability of minority government in favour of a third term for Labor’s Premier Daniel Andrews. He joins the ranks of just three Victorian Labor premiers who have achieved three consecutive election victories. This Labor Government will have a comfortable majority in the Legislative Assembly with a likely 54 seats.…

Shortly after the federal election, new Communications Minister Michelle Rowland confirmed that Labor had abandoned plans to privatise the national broadband network (NBN). Rowland also flagged that Labor would scale back proposed 3% per annum wholesale broadband price increases that the former Coalition government had directed NBN Co to implement to recoup costs. There was

The post Path paved for cheaper NBN appeared first on MacroBusiness.

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the RBA to raise the cash rate at the December Board meeting by 25bp to 3.10%. The risks sits with no change, but we consider that risk to be low (~20%). We expect a shift in forward guidance that would see the

The post CBA: RBA to dial down rate hike expectations appeared first on MacroBusiness.

Meh: Kerry Stokes-backed Beach Energy has swiftly moved to regain the upper hand in the escalating takeover battle for West Australian gas developer Warrego Energy, lobbing a higher offer that tops the surprise bid by Gina Rinehart’s Hancock Prospecting by 2¢ per share. WA has cheap-as-chips domestic gas prices thanks to effective gas price caps.

The post More gas takeovers make mockery of “sovereign risk” appeared first on MacroBusiness.

Last night risk markets hinged on the latest US inflation print, which came in as expected sending the USD lower but all the action was in bond markets which reacted harshly, sending 10 year Treasury yields sharply lower. Tonight’s NFP aka US unemployment print may put a further cat among the pigeons, with Wall Street

The post Macro Morning appeared first on MacroBusiness.

DXY was poleaxed last night: AUD held its gains: CNY is breaking higher: Gold and oil flew: Base metals not so much: Big miners are grinding higher: EM stocks too: Junk looks like it has bottomed: As Treasury yields plummet: Aiding stocks: The data flow was positive for more DXY weakness. ISM was weak: “The

The post Australian dollar roars as US inflation fades appeared first on MacroBusiness.

The latest apartment rental data from CoreLogic shows that rents soared at double-digit rates across Australia’s major capital cities in the year to November: This unit rent hyper-inflation is off a record low vacancy rate of only 0.97% across the combined capital cities in October, according to CoreLogic: The situation is only likely to worsen

The post Australia faces dire shortage of apartments appeared first on MacroBusiness.

Global Macro / Markets / Investing: Long Covid may be ‘the next public health disaster’ — with a $3.7 trillion economic impact rivaling the Great Recession – CNBC Almost 40% Of Millennials Own Crypto, But More Than Half Say It’s Risky – Alt Alternative Investments UN warns of social unrest after ‘striking’ drop in global

The post Links 2 December 2022 appeared first on MacroBusiness.

Asian stock markets haven’t climbed as much as expected given the stonking returns on Wall Street overnight as the risk complex pivots past a slowing down Federal Reserve. Tonight’s US core inflation numbers could pivot things again with the USD losing significant ground in the last 24 hours as Euro pushing through the 1.04 level

The post Macro Afternoon appeared first on MacroBusiness.

The unflinching US effort to extradite and prosecute Julian Assange for 18 charges, 17 of which are chillingly based upon the Espionage Act of 1917, has not always stirred much interest in the publisher’s home country. Previous governments have been lukewarm at best, preferring to mention little in terms of what was being done to…

The post Julian Assange and Albanese’s Intervention appeared first on The AIM Network.

French President Emmanuel Macron has arrived in Washington to discuss the unfolding trade row between the US and the EU over Joe Biden's protectionist Inflation Reduction Act (IRA). It's Macron's first visit to the US after the submarine deal debacle that sidelined Paris and cost the French a lucrative defense contract.