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MacroBusiness Friday, August 17, 2018 - 08:20 Source

By Chris Becker Optimisim surrounding a potential trade deal with China coupled with stronger US earnings saw stocks recover well in both Europe and Wall Street overnight. Tech stocks still struggled while the USD stamped down nascent recoveries in both major and emerging market currencies. Recapping Asia’s session yesterday with Chinese stocks first, the Shanghai

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MacroBusiness Friday, August 17, 2018 - 06:42 Source

Last night DXY was solid but CNY and EUR bounced: AUD lifted against DMs: And EMs: Gold was smashed then bounced but is still in trouble: Oil firmed: Base metals too: And big miners: Plus the EM stocks dead cat: EM junk lifted: Treasuries were sold: Bunds too: And Italy: Stocks made solid gains: US

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MacroBusiness Friday, August 17, 2018 - 00:20 Source

Finally somebody else telling the truth. Bravo Andrew Liveras at the AFR: The biggest reason we don’t have the market we need is that we keep asking the wrong question. Coal or renewables? Renewables or coal? Affordable energy or lower emissions? This is not an either/or debate. The question we must ask is: why are

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MacroBusiness Friday, August 17, 2018 - 00:15 Source

By Leith van Onselen This week’s data key economic data revealed another contradiction. On Wednesday, it was revealed that Australian wages growth was stuck near record lows, growing by just 2.06% in the year to June (1.99% in the private sector): Then yesterday, it was revealed that Australia’s unemployment rate has fallen to the lowest

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MacroBusiness Friday, August 17, 2018 - 00:15 Source

Via The Guardian: Some of Australia’s largest employer groups have rejected suggestions that underpayment of workers amounts to “wage theft”, telling a Queensland parliamentary inquiry the term exaggerates the problem. The Palaszczuk government called the hearings, which begin on Thursday, with a view to criminalising wage theft in Queensland. Submissions to the inquiry have described how wage

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MacroBusiness Friday, August 17, 2018 - 00:11 Source

Via Herald Sun: SYDNEY and Melbourne have been the powerhouse for Australia’s booming property market but a new report shows only 17 suburbs across the two cities are seeing increased prices. With just a handful of suburbs among Sydney’s 700 showing steady rises in property values, experts say this continues to highlight a steady downward

The post House prices falling in 98% of Sydney and Melbourne suburbs appeared first on MacroBusiness.

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MacroBusiness Friday, August 17, 2018 - 00:11 Source

Via Herald Sun: SYDNEY and Melbourne have been the powerhouse for Australia’s booming property market but a new report shows only 17 suburbs across the two cities are seeing increased prices. With just a handful of suburbs among Sydney’s 700 showing steady rises in property values, experts say this continues to highlight a steady downward

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MacroBusiness Friday, August 17, 2018 - 00:10 Source

By Leith van Onselen In the week ended 16 August 2018, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, declined another 0.18%: Values fell across three major markets and rose in two: So far in August, home values have fallen by 0.27%, driven by Melbourne, Sydney and Perth:

The post CoreLogic weekly Australian house price update: The steepening appeared first on MacroBusiness.

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MacroBusiness Friday, August 17, 2018 - 00:10 Source

By Leith van Onselen Yesterday’s ABS labour force release for July revealed a softening Australian youth labour market – i.e. those aged 15 to 24 years old – as both full-time and part-time jobs growth weakens. While the trend headline unemployment rate crashed to 11.13% in July from 11.45% in June: Whereas total employment growth

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MacroBusiness Friday, August 17, 2018 - 00:05 Source

Got some chart troubles today so here are the numbers: Tianjin benchmark spot: $66.90 (-15 cents) Dalian 6 month future: 494 Dalian 6 month coking coal 1266 Shanghai rebar futures 4122 No change to outlook. Firm headed into Q4 weakness.

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

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MacroBusiness Friday, August 17, 2018 - 00:01 Source

Global Macro / Markets / Investing: The biggest policy mistake of the last decade – The Week Tesla whistleblower tweets details about allegedly flawed cars, scrapped parts – CNBC S.E.C. Is Said to Subpoena Tesla After Elon Musk’s Take-Private Tweet – NY Times Companies Shouldn’t Be Accountable Only to Shareholders – WSJ U.S. Pursues One

The post Links 17 August 2018 appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, August 16, 2018 - 22:21 Source

Tony Abbott is being widely dismissed in the media as having little influence in the Liberal Party today but I beg to differ. Abbott is, in fact, very much the architect of today’s Liberal Party strategy. Malcolm had a go at telling us there was never a more exciting time to be us and that…

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Press gallery reform Thursday, August 16, 2018 - 22:19 Source

Dying was nothing and he had no picture of it nor fear of it in his mind. But living was a field of grain blowing in the wind on the side of a hill. Living was a hawk in the sky ... Living was a horse between your legs and a carbine under one leg and a hill and a valley and a stream with trees along it and the far side of the valley and the hills beyond.- Ernest Hemingway For whom the bell tolls

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Politically homeless Thursday, August 16, 2018 - 22:19 Source

Dying was nothing and he had no picture of it nor fear of it in his mind. But living was a field of grain blowing in the wind on the side of a hill. Living was a hawk in the sky ... Living was a horse between your legs and a carbine under one leg and a hill and a valley and a stream with trees along it and the far side of the valley and the hills beyond.- Ernest Hemingway For whom the bell tolls

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Harrangue Man Thursday, August 16, 2018 - 22:18 Source

There are nights that represent a moment, a key into a lock and turn where you know something special has happened. I don't get out much---always sore dampens desire to be social---but I accepted the offer and went. Then the lock turned with a soft, welcoming click.I'm blessed; I have a shit body and a sad mind but that led to nights like this. How lucky I am to be cursed as I was; yin within yang within yin.WFTW.

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En Passant Thursday, August 16, 2018 - 18:30 Source


Prime Minister Malcolm Turnbull fired up over energy questions during Tuesday’s QT (Image via YouTube screenshot)

The NEG was a hot topic during Question Time on Tuesday, with the coal dinosaurs ignoring climate change for promises of cheap, reliable energy, writes John Passant in Independent Australia.

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The Australian Independent Media Network Thursday, August 16, 2018 - 17:33 Source

By John Tons By now most Australians will have moved on from the Emma Husar episode. For those who managed to miss it – here is a brief synopsis: Emma Husar is a first-term politician. There were indications that her staff were not happy with her management style, in addition some of her staff made…

The post Emma Husar – Yet another institutional failure appeared first on The AIM Network.

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Your Democracy Thursday, August 16, 2018 - 16:59 Source
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Renew Economy Thursday, August 16, 2018 - 16:32 Source

Presented by the EEC and now in its seventh year running, the National Energy Efficiency Awards are s a fantastic opportunity to be recognised for your efforts and celebrate your commitment to energy efficiency. 

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MacroBusiness Thursday, August 16, 2018 - 16:11 Source

Asian risk markets are taking a deep breath here as a rolling emerging markets crisis bears fruit mainly among stocks, but also the burgeoning USD.  There has been a hiccup here though with the Australian dollar moving higher on today’s jobs report, while the Yen fellback slightly as did offshore Yuan as the PBOC weakened

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MacroBusiness Thursday, August 16, 2018 - 16:06 Source

After a full year in the office, we are happy to announce round two of the MB Fund seminar series. This year’s agenda is of course The Great Australian Housing Crash! Come one and come all to see (and meet) Leith van Onselen, David Llewellyn-Smith and Damien Klassen as they discuss just how fast and

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Renew Economy Thursday, August 16, 2018 - 15:09 Source

Origin Energy profit surges 110% in FY 2018, as orgy of money-making by Australia’s big three gen-tailers continues, fed by high power prices.

The post Origin profit surges as energy consumers feel the pinch appeared first on RenewEconomy.

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The Australian Independent Media Network Thursday, August 16, 2018 - 15:00 Source

By Ad astra Let’s remind ourselves of the meaning of ‘zealot’. Historically, it denoted a member of a fanatical sect in Judea during the first century AD that militantly opposed the Roman domination of Palestine. Today it describes a person who is fanatical and uncompromising in pursuit of religious, political, or other ideals. We still…

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MacroBusiness Thursday, August 16, 2018 - 14:53 Source

From Bloomie: China will dispatch Vice Commerce Minister Wang Shouwen to the U.S. for low-level trade talks in late August, the first official exchanges since earlier negotiations broke down two months ago. The Chinese delegation led by Wang will meet with an American group led by David Malpass, under secretary for international affairs at the

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Renew Economy Thursday, August 16, 2018 - 14:22 Source

GuptaGupta says the proposed government underwriting of a new "dispatchable power plant, will favour solar and could help bring solar costs down to half current market costs, even with back-up.

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MacroBusiness Thursday, August 16, 2018 - 14:15 Source

The Turnbull Government has welcomed data showing that Australia’s Bulk Billing rates have hit an all-time high. From SBS News: Medicare figures show the bulk billing rate for GP visits hit a new high in 2016-17, with nine in 10 visits to the doctor not costing the patient a cent. Australians visited a doctor for

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Renew Economy Thursday, August 16, 2018 - 14:15 Source

coalAnything deviating from transitioning to a reliable, firmed renewable grid will end up costing Australians and Australian business more in the long run.

The post Any new coal generator will force the early closure of another appeared first on RenewEconomy.

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Renew Economy Thursday, August 16, 2018 - 14:06 Source

Appl's electric car concept could be backApple signals push into electric vehicles, as Australian buyers surveyed on whether buying an EV from software giants would appeal.

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MacroBusiness Thursday, August 16, 2018 - 13:50 Source

By Leith van Onselen It seems Australia’s latest export growth industry – selling university degrees (and residency) to international students – is under threat as China competes harder for international students. From The ABC: Australia has much invested in its ability to attract large numbers of young Asians for tertiary study. The income they bring

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MacroBusiness Thursday, August 16, 2018 - 13:30 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released the Average Weekly Earnings (AWE) data for the six months to May 2018. A breakdown of the key changes are provided below: According to the ABS, on a seasonally-adjusted basis, national total AWE increased by 1.2% in the six months to May 2018

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