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Renew Economy Friday, December 2, 2022 - 12:51 Source

President Joe Biden signs his first executive order in the Oval Office of the White House

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Renew Economy Friday, December 2, 2022 - 12:37 Source

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The Australian Independent Media Network Friday, December 2, 2022 - 12:00 Source

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.…

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Renew Economy Friday, December 2, 2022 - 12:00 Source

green glass

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MacroBusiness Friday, December 2, 2022 - 11:40 Source

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.

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MacroBusiness Friday, December 2, 2022 - 11:20 Source

The latest Deloitte Access Economics’ Retail Forecasts have been released, which tips a “short and shallow retail recession” in 2023, with sales volumes expected to decrease by 0.2% and 0.4% over the March and June quarters of 2023. The contraction in retail sales will be driven by “cost of living pressures and a mortgage rate

The post Retail recession tipped for 2023 appeared first on MacroBusiness.

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MacroBusiness Friday, December 2, 2022 - 11:00 Source

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.

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MacroBusiness Friday, December 2, 2022 - 10:40 Source

Goldman kicks us off with the weak PCE: KEY NUMBERS: PCE price index +0.34% (mom) for October vs. GS +0.37%, median forecast +0.4%, prior revised +0.34% PCE price index +6.02% (yoy) for October vs. GS +6.03, median forecast +6.0%, prior revised +6.27% Core PCE price index +0.22% (mom) for October vs. GS +0.25%, median forecast

The post More on fading US inflation appeared first on MacroBusiness.

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MacroBusiness Friday, December 2, 2022 - 10:39 Source

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.

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MacroBusiness Friday, December 2, 2022 - 10:20 Source

The ferrous complex continues what is a pretty modest rally: Iron ore probably has more upside ahead as the US dollar fades and seasonal tailwinds kick in. The iron ore price is up by a third or so in recent weeks but in raw price terms, but this is still pretty modest stuff. Usually, when

The post Daily iron ore price update (modest rally) appeared first on MacroBusiness.

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Renew Economy Friday, December 2, 2022 - 10:15 Source

 Michael Mazengarb).

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MacroBusiness Friday, December 2, 2022 - 10:00 Source

It is relentless: China’s top 100 property developers recorded sales of 6.73 trillion yuan in the first 11 months of the year, sliding 42.1% from the same period last year, narrowing by 1.3 percentage point from the first ten months, according to data from the China Index Academy, a leading independent real estate research firm

The post China’s property market keeps on crashing appeared first on MacroBusiness.

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MacroBusiness Friday, December 2, 2022 - 09:40 Source

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.

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The Tally Room Friday, December 2, 2022 - 09:30 Source

When people defend group voting tickets, they often talk about the benefits of electing small parties and having a more diverse parliament. I have addressed this by arguing for an abolition of regions and thus making it easier for small parties to win without preference manipulation. While it is true that group voting tickets have in recent times elected a more diverse upper house, it hasn’t been a sustainable process.

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MacroBusiness Friday, December 2, 2022 - 09:20 Source

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.

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MacroBusiness Friday, December 2, 2022 - 09:00 Source

The last time Albo’s cowards tried to fix the energy mess, Resources minister Mad King made the problem 400% worse when she gave the miners everything they wanted before disappearing on a junket fully paid by the same where she couldn’t answer questions. Next up, Treasurer Jim “Chicken” Chalmers was even worse when he produced

The post Premiers risk economic catastrophe with energy fix objections appeared first on MacroBusiness.

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Cheeseburger Gothic Friday, December 2, 2022 - 06:35 Source

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Your Democracy Friday, December 2, 2022 - 06:17 Source

The Prime Minister’s surprise revelation that he has raised the case against Julian Assange with US officials and urged that charges of espionage and conspiracy be dropped opens up many questions.

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MacroBusiness Friday, December 2, 2022 - 00:10 Source

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.

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MacroBusiness Friday, December 2, 2022 - 00:05 Source

CoreLogic’s daily dwelling values index, which measures price changes across the five major capital city markets, declined by 0.31% in the week ended 1 December. This was the 30th consecutive weekly decline and the steepest since the week ended 29 September: The decline in values at the 5-city aggregate level was once again driven by

The post Weekly house price decline steepest since September appeared first on MacroBusiness.

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MacroBusiness Friday, December 2, 2022 - 00:01 Source

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.

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Your Democracy Thursday, December 1, 2022 - 22:49 Source

Self-censorship from European Commission President Ursula von der Leyen, after she deleted a tweet which mentioned Ukrainian casualties, is “humiliating”, former Russian president Dmitry Medvedev said on Wednesday.

He added that the climbdown showed the bloc is nothing but a US puppet.

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MacroBusiness Thursday, December 1, 2022 - 17:00 Source

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.

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Your Democracy Thursday, December 1, 2022 - 16:46 Source

Sam Bankman-Fried, the former chief executive officer of crypto exchange FTX, has denied committing fraud.

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The Australian Independent Media Network Thursday, December 1, 2022 - 16:45 Source

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.

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The Australian Independent Media Network Thursday, December 1, 2022 - 15:58 Source

University of South Australia Media Release Fancy donning a VR headset and taking a journey through deep geological time? From today it’s possible, with the launch of a 360-degree virtual tour of the 600-million-year-old Flinders Ranges in South Australia. One of Australia’s most captivating landscapes can now be explored virtually, thanks to a University of…

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Your Democracy Thursday, December 1, 2022 - 15:33 Source

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.

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Your Democracy Thursday, December 1, 2022 - 15:26 Source

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Renew Economy Thursday, December 1, 2022 - 15:23 Source

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MacroBusiness Thursday, December 1, 2022 - 14:30 Source

A week ago, independent economist Tony Alexander claimed New Zealand home buyers were being “scared off” by the Reserve Bank’s aggressive interest rate hikes, which have lifted the official cash rate to 4.25%: The latest mortgage data from the Reserve Bank certainly supports this view, with the annual value of mortgage commitments plummeting from a

The post Reserve Bank “scares off” home buyers appeared first on MacroBusiness.

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