Blogotariat

The commodity pain trade is roaring upwards today with iron ore off the hook up 6%: Big Iron is pretty circumspect about it: Big Gas is weak, notably so when one reads all of the positive guff coming from brokers: Big Gold is hot as it signals more USD weakness. I am a seller here

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Maybe that annoying TV woman who nearly fell off the chair could solve MP's dual nationality problems once and for all.

It’s still a long shot but worthy of consideration, from RBC: With an already precarious one-seat majority, the Liberal-National Coalition government risks turning into a minority government should the High Court uphold Section 44 of the Constitution and rule the current Deputy PM and leader of the National Party ineligible for Parliament. There must also be

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Makes sense to me: Australian Conservatives senator Cory Bernardi has called for parliament to be prorogued pending the outcome of the High Court cases over the citizenship status of Barnaby Joyce, Matt Canavan, Malcolm Roberts, Larissa Waters and Scott Ludlam have been determined. “There are great concerns about the health and wellbeing of our institutions,”

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As said this morning, the Fed hedged dovish minutes today with this: This overall assessment incorporated the staff’s judgment that, since the April assessment, vulnerabilities associated with asset valuation pressures had edged up from notable to elevated, as asset prices remained high or climbed further, risk spreads narrowed, and expected and actual volatility remained muted in

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By Leith van Onselen The Turnbull Government is optimistic that its proposed 0.5% increase in the Medicare levy will be passed by the Senate. The bill will be put before the upper house later today, although a vote is unlikely before September. The Labor Opposition is pushing for the increased levy to be restricted to

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By Leith van Onselen A bit of comedy today from Australia’s soon to be ousted federal Treasurer: The Treasurer said the wage data was “as forecast in the budget” — which pencilled in wage growth rising from 2 per cent this year to 3.5 per cent by 2021 — and in line with market expectations.

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By Leith van Onselen The Turnbull Government has reportedly back flipped on its promise to allow personal imports of high quality overseas vehicles – so-called “grey imports”. From Motoring.com.au: The Federal Chamber of Automotive Industries (FCAI) has offered its approval of the federal government’s official announcement today that it will not deregulate personal vehicle importation.

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The media and politicians continue to give it credibility but they know the EIU’s ‘world’s most liveable city’ gong has little bearing on the life of residents of Melbourne Is Melbourne’s liveability gong mostly bullshit?

By Leith van Onselen A leading tax expert has thrown a hand grenade at the Turnbull Government’s company tax cut policy, claiming that the rich would benefit the most if company taxes were lowered. From The AFR: Richard Vann, the Challis Professor of Law at the University of Sydney, said the government was relentlessly eager

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By Leith van Onselen CEO of Stockland (and former Property Council President), Mark Steinert, is loving the Australian economy right now, with the company making out like bandits from the immigration-driven population crush occurring across Melbourne and Sydney. From The AFR: Steinert looks at Melbourne and sees a city experiencing the strongest population growth since

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The DXY reversed last night as Fed minutes came in dovish: The Aussie dollar roared: But fell against other EMs: Gold took off: Brent fell: But base metals went nuts (as did iron ore): Big miners followed: And EM stocks: High yield firmed: US yields fell: European too: European stocks bounced, US a little: DXY

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Via the AFR: Liberal MPs despairing at the mounting crises plaguing the government are starting to question the political judgment of the Prime Minister’s office and whether the Coalition can win the next election. As the government limped through another parliamentary sitting day hamstrung by Barnaby Joyce’s dual citizenship debacle, MPs said the only positive

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