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MacroBusiness Wednesday, June 20, 2018 - 06:24 Source

DXY jumped last night: AUD was hammered across all developed markets (DMs): Emerging markets (EMs) were weaker still: Sadly, CNY is crashing too: Gold was soft: Oil was soft: Base metals were slammed: Big miners too: EM stocks are on the road to hell: Though EM junk held on: Treasuries were bid: And bunds: Italian

The post Australian dollar enters free fall with emerging markets appeared first on MacroBusiness.

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The Australian Independent Media Network Wednesday, June 20, 2018 - 06:00 Source

Wednesday 20 June 2017 Understanding the conservative’s desire to eliminate a state-owned broadcaster is as simple as ABC. Conservatives don’t believe in state ownership of anything. They believe private enterprise and competition is the best way for all businesses. It’s the same with health. They believe, philosophically, that individuals should fend for themselves and pay…

The post Day to Day Politics: You bet I’m angry. appeared first on The AIM Network.

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MacroBusiness Wednesday, June 20, 2018 - 05:22 Source

Here is Penny Wong’s speech yesterday on Australia-China relations: The Australia China Business Council has existed for almost as long as Australia has had diplomatic relations with China. Our oldest non-government institutional link with China, you play a key role in the bilateral relationship between our two countries. This role is perhaps even more important

The post Penny Wong welcomes her new Chinese overlords appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 05:22 Source

Here is Penny Wong’s speech yesterday on Australia-China relations: The Australia China Business Council has existed for almost as long as Australia has had diplomatic relations with China. Our oldest non-government institutional link with China, you play a key role in the bilateral relationship between our two countries. This role is perhaps even more important

The post Wong wrong on China appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:20 Source

Via Westpac: Following a decisive shift down from USD0.78, during April-May, the Australian dollar has flirted with the USD0.75 figure on a number of occasions, but has been unable to sustain a break below. This has been despite a significant (if short-lived) bout of political instability in Europe and a continuation of the US dollar

The post Westpac: Australian dollar falling to 70 cents appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:15 Source

Yes, it’s Futureboom! But it’s not the RBA nor Treasury. It’s the NSW Budget: Note the wage price index and population growth. Wages are magically going to surge right alongside new waves of cheap coolies. And that’s going to keep consumption up even as house price fall: This strength has been underpinned by households—through dwelling investment

The post NSW Budget bets on Futureboom! appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:15 Source

The bear market in the banks is well and truly intact: But one would be remiss to not note the fantastic strength that they have shown over the past few days as global market shook around them. What gives? First, the banks were oversold and ripe for a bounce. Second, that rebound can come from

The post Are the banks entering a tradeable rally? appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:12 Source

By Leith van Onselen The ABS yesterday released its property price data for the March quarter, which valued Australia’s dwelling stock owned by households at $6.57 trillion, whereas the total housing stock was valued at a record $6.91 trillion. As shown below, the total value of Australia’s dwelling stock owned by households was 7.66 times

The post Aussie housing valuations descend from peak appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:10 Source

By Leith van Onselen SQM Research has released its rental vacancy series for May, which revealed a steady national vacancy rate over the month but a 0.2% decline over the year: Over the year, decreases in vacancies were recorded in Adelaide (-0.4%), Perth (-1.0%), Brisbane (-0.6%) and Canberra (-0.2%), whereas increases were recorded in Sydney

The post Sydney’s rental market continues to weaken appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 20, 2018 - 00:05 Source

Iron ore prices for June 19, 2018: Tianjin benchmark was hit $1.75 to $64.25. Everything was bashed though the damage is pretty limited so far. I expect it will get worse before it gets better. Trump looks determined and China cannot win. Trade wars are toxic for surplus nations.

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

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MacroBusiness Wednesday, June 20, 2018 - 00:00 Source

Global Macro / Markets / Investing: The U.S. would take a bigger hit, given that $50 billion represents about 38% of US exports to China, while the same dollar amount represents only 10% of Chinese exports to the U.S – S&PGlobal While political analysts were quick to declare the end of the G7’s coherence, integrity, and

The post Links 20 June 2018 appeared first on MacroBusiness.

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Politically homeless Tuesday, June 19, 2018 - 22:47 Source

The Ramsay Centre for Western Civilisation aims to educate Australians not only in the facts of Western Civilisation, but also in its beauties and wonders and its enduring relevance to Australian life going forward. Can it succeed in those aims? No.

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Press gallery reform Tuesday, June 19, 2018 - 22:47 Source

The Ramsay Centre for Western Civilisation aims to educate Australians not only in the facts of Western Civilisation, but also in its beauties and wonders and its enduring relevance to Australian life going forward. Can it succeed in those aims? No.

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Renew Economy Tuesday, June 19, 2018 - 22:00 Source

Australia’s coal-fired generation capacity could be little more than a twinkle in Tony Abbott’s eye by as early as 2050, when renewables are forecast to provide 92 per cent of the country's electricity.

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En Passant Tuesday, June 19, 2018 - 19:37 Source

My thoughts in Independent Australia on the Government and the Liberal Party’s anti-ABC  approach. They would destroy the ABC if they could.

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John Quiggin Tuesday, June 19, 2018 - 19:19 Source

I’ve mostly given up talking about the nonsense published on a daily basis in the Murdoch press. There are more reliable alternatives, after all. At least so I thought until I looked at today’s Fairfax papers, which ran, as the lead, a piece from Peter Hartcher headlined Beijing uses infrastructure as friendly forerunner of political power. It’s as obviously loopy as anything Maurice Newman has written on Agenda 21, or Graeme Lloyd on Climategate

Here are the opening paras

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MacroBusiness Tuesday, June 19, 2018 - 17:07 Source

Yes, it’s Futureboom! but it’s not the RBA nor Treasury. It’s the NSW Budget: Note the wage price index and population growth. Wages are magically going to surge right alongside new waves of cheap coolies. And that’s going to keep consumption up even as house price fall: This strength has been underpinned by households—through dwelling investment

The post NSW Budget discerns Futureboom! appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 19, 2018 - 16:10 Source

Well now its getting interesting! Asian stocks sold off across the board, except Straya, with risk proxies like the Aussie dollar taking a dive and Japanese Yen bid up on safe haven as this trade war widens up a whole new battlefield. Trump dump of a slump of tarriffs on the Middle Kingdom set this

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 19, 2018 - 15:50 Source

It took the offer of a Chinese company to bring better telecommunications to the Solomon Islands to remind our government of the value of soft diplomacy. After years of savage cuts to the Foreign Aid budget, ironically accompanied by huge increases in the defence and arms industry budgets, all of a sudden we can find…

The post The government ignores the value of the ABC appeared first on The AIM Network.

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Renew Economy Tuesday, June 19, 2018 - 15:35 Source

ASX-listed packaging giant Orora signs second renewable energy PPA in matter of months, this time with 228MW Lal Lal wind farm in Victoria.

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The Melbourne Urbanist Tuesday, June 19, 2018 - 15:33 Source

The Age’s comparison of the density of Melbourne’s CBD with the density of New York City might massage the prejudices of its readers, but it’s rubbish Is Melbourne the new New York? Advertisements

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Renew Economy Tuesday, June 19, 2018 - 15:03 Source

Just as in almost every other industry these days, it pays to keep a close eye on what happens in the Middle Kingdom.

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Renew Economy Tuesday, June 19, 2018 - 15:01 Source

Massachusetts Senate unanimously passes energy bill promising to dramatically reshape the vehicles and fuels that power its transportation system.

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Renew Economy Tuesday, June 19, 2018 - 14:21 Source

UNSW academics compare campaign against wind and solar and high renewable energy scenarios led by pro-nuclear lobbyists to efforts by the tobacco industry to sow fear and uncertainty and delay action.

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Renew Economy Tuesday, June 19, 2018 - 14:21 Source

UNSW academics compare campaign against wind and solar and high renewable energy scenarios led by pro-nuclear lobbyists to efforts by the tobacco industry to sow fear and uncertainty and delay action.

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Renew Economy Tuesday, June 19, 2018 - 14:07 Source

CSIRO launches Energise app, to create “two-way communication channel” between energy experts and consumers.

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Renew Economy Tuesday, June 19, 2018 - 14:05 Source

The NEG does nothing. It won’t lower prices, it won’t reduce the large gentailer influence, it won’t bring about new investment. In short, it's fraud as far as policy goes.

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MacroBusiness Tuesday, June 19, 2018 - 13:33 Source

Macquarie joins the party: Despite almost daily negative headlines in the mainstream media, the rate of adjustment has also been relatively orderly. Nationwide dwelling prices are currently falling at a 2.5-3% annualised rate, and Sydney housing prices have been falling for four quarters at a broadly stable 4% annualised pace. Some have suggested that the

The post Macquarie joins the housing bears appeared first on MacroBusiness.

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The Australian Independent Media Network Tuesday, June 19, 2018 - 13:30 Source

Disruption, disturbance, eruption, the words crowning the presidency of Donald J. Trump, who has effectively demonstrated an idea made famous by Nazi doodler of law and political theorist Carl Schmitt: politics is defined, not by identifying with friends in cosy harmony but with enemies in constant tension. There are many ways that Trump might be…

The post Rocking the G7: Trump Stomps His Allies appeared first on The AIM Network.

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Harrangue Man Tuesday, June 19, 2018 - 13:03 Source

I've committed to the painful but needed act of getting once a day into the big chickens pen to check their hutch for eggs. We'd let it go and there were eggs but they'd spoiled. There's no point in me enjoying chickens without the eggs so in I went. Their pen is a metre tall and I have to squat and hunch along with my odd bod to check the sides and middle for eggs. I am also balding, Homer style, from the top.My body could be described as an egg with a light dust of hair plus limbs. I'm concious my short fat balding form looks like a number of fairy-tale characters and none of whom are good or have a good ending.

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