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MacroBusiness Wednesday, June 21, 2017 - 00:14 Source

From The Herald Sun: A BOLD vision to transform Melbourne’s west with a $30 billion “super city” is nearing reality with the State Government to decide on the project within months. A high-level consortium has been solidly negotiating with government officials over the past year after the plan was first mooted in 2015. The Herald

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MacroBusiness Wednesday, June 21, 2017 - 00:14 Source

The Naked CEO’s tentacles may spread far but so far as the AFR: Remember our Tuesday revelation that Professions Australia, which “welcomed” CPA’s “fiercely independent” review led by quondam Malley admirers, also has Malley’s direct report Adam Awty on its board? Well, it gets better. Guess who was Professions Australia chairman until May 2015? Alex

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MacroBusiness Wednesday, June 21, 2017 - 00:06 Source

Via The Australian: The Turnbull government is ­preparing to back the construction of new coal power stations to prevent a dangerous shortfall in electricity supplies, using “reverse auctions” to replace ageing coal-fired generators with new technology already embraced in Japan and China. The new agenda promises to scale back the need for a controversial clean

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MacroBusiness Wednesday, June 21, 2017 - 00:06 Source

The great commodity bear market rally is over, apparently, via Macquarie: After the regular liquidity pushes of 2016, the Chinese government has now shifted to a tightening bias, propagating a destock cycle through the manufacturing chain. Chinese construction activity has been extremely strong, but we also expect sequential weakness in this area. To be clear,

The post Macquarie dumps dirt appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 21, 2017 - 00:05 Source

Iron ore price charts for June 20, 2017: Tianjin spot fell 30 cents to $54.40. Paper was hit overnight. If that was supposed to be a bear market rally then the market is in deep trouble. Steel stable. World steel output growth is fading fast: World crude steel production for the 67 countries reporting to

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

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MacroBusiness Wednesday, June 21, 2017 - 00:04 Source

Via Capital Economics:  Capital outflows from China were broadly unchanged last month and are likely to persist at this relatively low level for the foreseeable future as households and firms increase their exposure to foreign assets. But unless sentiment on the renminbi turns significantly more negative again, outflow pressure should remain manageable.  China’s

The post Chinese capital outflow slows to trickle appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 21, 2017 - 00:01 Source

Global Macro / Markets / Investing: Chart of the Week: FDI in Financial Centers – IMF IMF’s new program to preapprove emergency access to dollars – Nikkei Public attitudes to immigration: Salience matters – VOX BlackRock takes Scalable Capital stake in Europe ’robo-advisor’ push – Reuters El-Erian Warns “The Fed No Longer Has Your Back” – Zero Hedge Science friction:

The post Links 21 June 2017 appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 20, 2017 - 17:10 Source

by Chris Becker Outside of Japan it hasn’t been a fun day in Asia with most regional stock markets closing in the red, in opposition to a strong lead overnight on US and European markets. The stronger USD on the back of hawkish Fed comments is only finding resistance against the Aussie as commodities retreat

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 20, 2017 - 16:01 Source

Dr Cameron Murray, author of the great book Game of Mates: How Favours Bleed the Nation, will be presenting at various book launches across Australia over coming weeks, and MB readers are encouraged to attend (note: I’ll be at the Melbourne launch below). The upcoming dates are as follows (see links for further info): Thursday

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The Australian Independent Media Network Tuesday, June 20, 2017 - 15:55 Source

By Keith Davis Why are some Capitalists looking at the concept of replacing our Welfare System with a Universal Basic Income? Well, it is not because they are natural allies of the poor, or altruistic benefactors of those citizens who have to rely on welfare benefits to try and survive. It is because they want…

The post The Universal Basic Income: No poverty. Dignity for all. appeared first on The AIM Network.

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MacroBusiness Tuesday, June 20, 2017 - 14:39 Source

Yesterday we had One Nation more popular than the Greens by its largest margin ever in Newspoll: Today Essential has it on a tear as well, leveling with the lost Greens: This despite bubbling, scandals, spastic policy positions and openly moronic candidates. It’s a simple and very clear message to all concerned: cut immigration.

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Renew Economy Tuesday, June 20, 2017 - 13:56 Source

Australians have grown accustomed to seeing politicians flick the switch to vaudeville when it comes to climate policy. This year we’ve been treated to a new farce.

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Renew Economy Tuesday, June 20, 2017 - 13:56 Source

Australians are used to seeing politics switch to vaudeville when it comes to climate policy. This year we’ve been treated to a new farce.

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Renew Economy Tuesday, June 20, 2017 - 13:53 Source

Belectric plans two more small solar farms by end of year after completing first with new, low cost installation system.

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Renew Economy Tuesday, June 20, 2017 - 13:53 Source

Belectric plans two more small solar farms by end of year after completing first with new, low cost installation system.

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MacroBusiness Tuesday, June 20, 2017 - 13:44 Source

Via The Australian: The Turnbull government has announced it will impose restrictions on Australia’s domestic gas supply in a bid to lower electricity prices. “It is unsustainable for our country to be the world’s largest exporter, but to be paying some of the largest prices for gas,” Resources Minister Matthew Canavan said. Malcolm Turnbull also

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Renew Economy Tuesday, June 20, 2017 - 13:36 Source

Turnbull caves in to fossil fuel lobby push for more "continuous power" and asks AEMO to assess needs of the grid. "It would be good to have a state of the art clean coal plant in Australia," he said.

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Political Owl Tuesday, June 20, 2017 - 13:25 Source

Politics is notoriously forgiving of flaws; it punishes failure very severely. - from The audacity of nope by STIG ABELL'via Blog this'

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MacroBusiness Tuesday, June 20, 2017 - 13:15 Source

By Leith van Onselen The spineless PM has capitulated again, this time on school funding. From The Canberra Times: The Turnbull government has buckled to demands from conservative MPs to delay the introduction of less-generous funding arrangements for Catholic schools, after insisting it would wipe out the “special deals” created by the previous Labor government.

The post Weak Turnbull capitulates on Gonski school funding appeared first on MacroBusiness.

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Harrangue Man Tuesday, June 20, 2017 - 12:35 Source

One of the many fails of my body, and curiously right from near start of life, is my propensity for middle ear infections. Without antibiotics I'd have been dead from multiple infections as a child. I have stents in my ear drums to let out discharge from the middle ear but it's a two-way street and I have to keep water out of my ears lest it enter the middle ear then pool with intent. In then shower, when I roll my head beneath the pour, I fold over my ears to protect the canal. Today I didn't. I tilted my head and then a seeming fuckton of water poured straight into the middle ear.

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Renew Economy Tuesday, June 20, 2017 - 12:11 Source

All Ice Energy products now available in Australia exclusively through Apricus.

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MacroBusiness Tuesday, June 20, 2017 - 11:59 Source

By Leith van Onselen The ABS has today released its property price index – incorporating both detached houses and units – which registered a 2.2% rise in home values nationally over the March quarter and a 10.2% gain over the year, an acceleration from the 7.7% annual growth initially reported in the 2016 calendar year:

The post ABS: property prices continued to boom in Q1 appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 20, 2017 - 11:49 Source

It should, via Bloomie: …announcement in coming days from the Australian Prudential Regulatory Authority, which is due to say whether it will require the banks to hold more capital against their mortgage books as part of a wider update on capital requirements. Despite recent steps to rein in their exposure to the riskier areas of

The post Is APRA about to whack the banks again? appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 20, 2017 - 11:38 Source

Dalian is wandering aimlessly today: Big Iron is mostly up: Big Gas is burning: Big Gold is correcting: Big Bubble has had its run seemingly: Big Liar is soldiering on: And a bonus chart today, hope your enjoying Australian exceptionalism: If not, try the MB Fund launching July 1st with a 70% international equities allocation. Sign

The post As global stocks soar, ASX crumbles appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 20, 2017 - 11:32 Source

By Leith van Onselen In what seems to have become an annual event, the Australian Greens attempted last night to get the GST amended so that it would no longer be applied to women’s sanitary products, like tampons. From The Canberra Times: Queensland Greens Senator Larissa Waters attempted to scrap the “tampon tax” as part

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The Melbourne Urbanist Tuesday, June 20, 2017 - 11:24 Source

Dockless bike share faces a much bigger challenge in Australia than in countries like China, especially given new entrant oBike has to make it work commercially What are the prospects for dockless bike share in Australian cities?

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MacroBusiness Tuesday, June 20, 2017 - 11:10 Source

Via S&P: The number of delinquent housing loans underlying Australian prime residential mortgage-backed securities (RMBS) increased to 1.21% in April from 1.16% a month earlier, according to a recent report by S&P Global Ratings. Part of the increase reflects a decline in outstanding loan balances, but we believe interest-rate rises announced by different lenders during

The post Mortgage arrears resume climb appeared first on MacroBusiness.

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Renew Economy Tuesday, June 20, 2017 - 11:09 Source

Australian Technologies Competition shortlists 32 of Australia’s “most exciting” tech companies, including an EV charging outfit, a solar thermal solutions company, and an energy monitoring specialist.

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Renew Economy Tuesday, June 20, 2017 - 11:06 Source

Scarce public finance should invest in generation assets of the future, not relics of the past at risk of being stranded.

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MacroBusiness Tuesday, June 20, 2017 - 10:58 Source

By Leith van Onselen It never ceases to amaze how the Coalition’s token changes to the ‘skilled’ temporary worker visa system can elicit so much outrage from company heads. The latest example of this outrage has come from Woodside CEO, Peter Coleman, who claims that the Coalition’s decision to change the 457 visa scheme could

The post Woodside chief outraged at 457 visa changes appeared first on MacroBusiness.

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