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MacroBusiness Thursday, April 2, 2015 - 13:28 Source

Big iron equity continues its spectacular outperformance versus its actual business today with more paltry falls versus the calamity unfolding in the price of dirt. BHP is down 0.5% and RIO only 1.4%. The former is still 10% above its December low and RIO 5% above its despite iron ore being 30% lower now. To the

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MacroBusiness Thursday, April 2, 2015 - 13:07 Source

As US and Australian data fades in tandem, the Australian bond bull market has strapped on the afterburners and yields are getting trashed. The two year hit an all-time low of 1.67% last night is now trading at 1.69%. The 5 and 10 years also hit all-time lows and now trading at 1.84% and 2.31% respectively:

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Renew Economy Thursday, April 2, 2015 - 12:53 Source

New data shows major global infrastructure funds rushing to invest in portfolios of PV power stations, to catch the big solar wave.

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The Idiot Tax Thursday, April 2, 2015 - 12:48 Source

If you've read this site for any length of time you'll know I'm just a little critical of how supposedly "good news" is reported in Tasmania. Mirage is the word that often comes to mind. After...

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New Matilda Thursday, April 2, 2015 - 12:44 Source

Global investment in renewables was up by 17 per cent to $270 billion last year, but investment in Australian renewables continues to plummet.

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New Matilda Thursday, April 2, 2015 - 12:44 Source

The Tasmanian independent has launched a new political party and shredded the rule book — and basic facts — in the process. Max Chalmers reports.

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MacroBusiness Thursday, April 2, 2015 - 12:40 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released trade data for the month of February, with Australia recording a seasonally-adjusted trade deficit of $1,256 million. The result just beat analyst’s expectations, who had expected a trade deficit of only $1.3 billion. It was the eleventh monthly trade deficit in a row

The post Falling AUD saves the Aussie tourism industry appeared first on MacroBusiness.

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Renew Economy Thursday, April 2, 2015 - 12:38 Source

Latest GWEC report says 2014 'exceptional year' for wind - with more than 51GW added. Except, of course, in Australia.

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Renew Economy Thursday, April 2, 2015 - 12:31 Source

Wealthy nations spend, on average, roughly 5 times more on export subsidies for fossil fuel technologies than for renewables

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Renew Economy Thursday, April 2, 2015 - 12:27 Source

Existing offshore wind is already cheaper than gas-fired power plants. Future offshore wind farms will be cheaper still.

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Renew Economy Thursday, April 2, 2015 - 12:20 Source

Small-scale, distributed solar is currently producing nearly 100 times more electricity than large-scale, centralised solar in Australia.

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Renew Economy Thursday, April 2, 2015 - 12:17 Source

100kW solar array installed at Sydney car dealership, including parking area, to help cut power bills by half.

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Renew Economy Thursday, April 2, 2015 - 12:11 Source

Why is Australia solar so fascinating, and why does it get so much internet ink?

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MacroBusiness Thursday, April 2, 2015 - 12:05 Source

Nice little interactive here from The Australian:

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MacroBusiness Thursday, April 2, 2015 - 11:54 Source

Only a few pips from a new low…

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MacroBusiness Thursday, April 2, 2015 - 11:47 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released job vacancies data for the February quarter, which recorded a 0.7% seasonally adjusted increase over the quarter, and a 1.2% rise in trend terms: Over the year, job vacancies rose by 6.2% seasonally adjusted and by 6.3% in trend terms. Changes in vacancies

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MacroBusiness Thursday, April 2, 2015 - 11:32 Source

A couple of charts today from Morgan Stanley throw light on the question. First, iron ore inventories at steel mills:   Mills have destocked in recent weeks to 24 days of use. That is the bottom of the recent range. But with price momentum so strongly to the downside I don’t really see any reason

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Renew Economy Thursday, April 2, 2015 - 11:29 Source

Fossil fuel industry in Australia wants to slow down deployment of wind and solar PV. And they are in no hurry to deploy solar towers with storage either – technology that will hasten the redundancy of the current coal fleet.

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MacroBusiness Thursday, April 2, 2015 - 11:19 Source

TD Securities’ monthly inflation rose 0.4% in March and 1.5% over the past year. The trimmed mean rose 1.6%. Annette Beacher said: “While low inflation certainly allows the RBA to cut the cash rate further, we pencil in only one more cash rate reduction to 2 per cent in May, with risks of delay into the

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Renew Economy Thursday, April 2, 2015 - 11:10 Source

NSW removes position focused on renewable energy, although anti-wind planning minister demoted, and replaced by pro-renewable advocate.

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Table Talk: Bob Ellis on Film and Theatre Thursday, April 2, 2015 - 11:07 Source

Those who care about these things might have noted, of late, that the concept of ‘redemption’ does not fit all — David Hicks, for instance, Peter Slipper, Craig Thomson, Lance Armstrong — and that, as George Orwell might have put it, ‘Some are more redeemed than others’.

Andrew Chan is ‘redeemed’ by his good works. Billy Gordon is not.

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MacroBusiness Thursday, April 2, 2015 - 10:58 Source

By Leith van Onselen The Property Council of Australia (PCA) has called on the Government to dump stamp duties in exchange for raising the GST or broadening land taxes. From The AFR: “South Australia has already shown its willingness to take on tax reform, including stamp duty. The other states and territories should now step

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Croakey Thursday, April 2, 2015 - 10:43 Source

Submissions are being called for the Senate inquiry into “the impact on service quality, efficiency and sustainability of recent Commonwealth Indigenous Advancement Strategy tendering processes” – or the #IASLottery as it’s...

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Red Bluff Thursday, April 2, 2015 - 10:33 Source

Do companies have human rights obligations? How can corporations fulfil their responsibilities as global citizens?Monash University's Castan Centre for Human Rights Law tackles these issues in the latest of its video series "Have You Got That Right?".

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MacroBusiness Thursday, April 2, 2015 - 10:20 Source

By Leith van Onselen It seems the days of giving wealthy older Australians a free Budget ride are coming to an end, with both Labor and the Abbott Government strengthening rhetoric against superannuation concessions for the wealthy, and the Coalition flagging that it will tighten the assets test for the Aged Pension. On superannuation, Labor

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MacroBusiness Thursday, April 2, 2015 - 10:18 Source

It’s still early in the bust but jeez it’s already getting perverse. From Dad’s Army: The Commonwealth Bank has launched a fresh call for the federal government to develop a long-term plan to tackle the major economic threat posed by sagging confidence levels. Australia’s biggest lender says volatility in the global economy, and in particular

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MacroBusiness Thursday, April 2, 2015 - 10:06 Source

From Twiggy Forrest via Junket Jen at the AFR: “When has market share strategy over shareholder returns ever helped a company? What BHP and Rio are doing is buying – at massive cost – expansion capacity even when the higher commodity price justification for such investment has evaporated. It’s as though they are stuck in a

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MacroBusiness Thursday, April 2, 2015 - 09:55 Source

That’s the thanks you get.

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MacroBusiness Thursday, April 2, 2015 - 09:45 Source

From the AFR: “Albert Einstein is supposed to have said the definition of insanity is doing the same thing over and over again and expecting a different result,” Saul Eslake, Bank of America Merrill Lynch chief economist, said. “I’m not accusing the RBA of being insane, but I wonder what they think they can achieve

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MacroBusiness Thursday, April 2, 2015 - 09:27 Source

by Chris Becker April Fools Day surely sucked in a few more punters on the worldwide asset scramble in the face of seemingly endless stimulus emanating from central banks. But the flies are gathering in the ointment as the macro data rolls through showing a slowing in the 7 year economic cycle, post-GFC. Although only

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