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Oz Blog News Commentary
Delimiter Tuesday, September 1, 2015 - 11:52 Source

The chair of the competition regulator has repeated his view that the NBN company should ultimately be broken up into chunks that would compete with each other, in comments that appear to run directly contrary to the complementary network design model currently being pursued by the company.

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MacroBusiness Tuesday, September 1, 2015 - 11:50 Source

By Leith van Onselen The Australian Bureau of Statistics (ABS) has released dwelling approvals data for the month of July. At the national level, the number of dwelling approvals rose by a seasonally adjusted 4.2% to 19,298. The overall jump was driven by the volatile unit and apartment segment, which rose by 6.1% in July.

The post Apartments drive dwelling approvals rebound appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 11:49 Source

by Chris Becker Or not? The Shanghai Composite is down 2.6% at the open – maybe time to arrest some more reporters? From ZH: If Chinese authorities are to be believed, we finally know the cause of the country’s stock market woes: a single reporter. In a video segment aired by China’s state television broadcaster,

The post All hail non-intervention of Chinese share markets! appeared first on MacroBusiness.

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Prosper Australia Tuesday, September 1, 2015 - 11:44 Source

Letter to the Editor Australian Financial Review Sept 1, 2015 Proponents of increasing either payroll tax or the GST are like Tweedledum and Tweedledee, dancing around and seeming to argue, yet holding hands (“Payroll tax surfaces as the next GST”, AFR August 28). If we get more payroll tax, we will have fewer jobs and […]

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New Matilda Tuesday, September 1, 2015 - 11:36 Source

There is a limited window when an addict has the desire and ability to get clean. Long wait times for rehab centres mean people like Jane are falling through the cracks.

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MacroBusiness Tuesday, September 1, 2015 - 11:31 Source

by Chris Becker The hits keep coming for those wedded to a strong China forever. The official manufacturing PMI print came out this morning at 49.7, the first move into contraction in six months. Non manufacturing PMI was at 53.4, slightly off the last print. Later this afternoon we get the Caixin manufacturing and services print,

The post China manufacturing PMI lowest in 3 years appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 11:26 Source

By Leith van Onselen Following on from my post yesterday on RP Data’s daily dwelling values index results for August, Core Logic-RP Data has released its full results, which also cover the smaller capitals and regional areas (see next table). As you can see above, the smaller capitals and the regions had a mixed month

The post RP Data: Rental growth hits another record low appeared first on MacroBusiness.

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Delimiter Tuesday, September 1, 2015 - 11:20 Source

ANZ Bank this morning revealed it had signed a $450 million deal with global technology firm IBM that would allow the bank to access all of IBM’s technology and feature an ‘Innovation Lab’ to more rapidly bring new products and services to market.

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The Melbourne Urbanist Tuesday, September 1, 2015 - 10:53 Source

Is it just vehicles or are MAMILs killing themselves too?

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The Australian Independent Media Network Tuesday, September 1, 2015 - 10:26 Source

It’s not hard to work out Tony’s game plan for the next election. He is going to run hard on union corruption and their connection to Labor.

Heydon ruling himself unbiased in the eyes of a reasonable person has laid the ground work. Why did they try, unsuccessfully, to smear this honourable man? What have Labor and the unions got to hide?

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MacroBusiness Tuesday, September 1, 2015 - 10:19 Source

By Leith van Onselen The ANZ-Roy Morgan Research consumer confidence index rose marginally in the week ended 30 August, rising by 0.3 points to 113.3 to be tracking a whisker above the long-run average (see next chart). The small rise in confidence was driven largely by a 3.9% lift in respondents views on their financial

The post Consumer confidence firms around average appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 10:02 Source

by Chris Becker The downgrades keep rolling in and this morning it’s Morgan Stanley, pushing its 12 month target for the ASX200 down to 5150 points from its previous 5650 level. The ASX200 closed yesterday at 5207 points after reaching 5995 points in late March. So what’s the rationale? Market valuation, bank capital raisings and

The post Morgan Stanley bears up on ASX200 appeared first on MacroBusiness.

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xkcd.com Tuesday, September 1, 2015 - 10:00 Source

 Big Data for a Big Planet

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MacroBusiness Tuesday, September 1, 2015 - 09:56 Source

by Chris Becker Following a Fairfax Media report yesterday that several cabinet members want Prime Minister Tony Abbott to dump Treasurer Joe Hockey, Immigration Minister, Peter Dutton, has come out on the offensive this morning: “I think it would be helpful if some of the commentators in the area, in this space of politics, started

The post A Coalition of whingers appeared first on MacroBusiness.

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Renew Economy Tuesday, September 1, 2015 - 09:49 Source

NSW pricing regulator slashes feed in tariffs for solar households in an apparent bid to encourage consumers to install battery storage. The cut was justified by the fall in wholesale prices - caused ironically by the proliferation of rooftop solar.

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MacroBusiness Tuesday, September 1, 2015 - 09:46 Source

By Leith van Onselen Australia’s manufacturing sector strengthened further in August, with the Australian Industry Group’s Performance of Manufacturing Index (PMI) rising to 51.7 points from 50.4 points in July: The manufacturing industry expanded for a second consecutive month in August, with the Australian Industry Group Australian Performance of Manufacturing Index (Australian PMI®) increasing by

The post Manufacturing moves further out of recession appeared first on MacroBusiness.

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New Matilda Tuesday, September 1, 2015 - 09:35 Source

Those who argue otherwise have a vested interest in the short-term profits that will ultimately undermine our long-term standard of living.

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Harry Clarke Tuesday, September 1, 2015 - 09:23 Source

The WordPress blog that I ran from February 2006 to January this year is up and running again. The US hosting service did a great job of restoring my blog which I had been unable to update. The only thing that seems to fail at present is my instruction to copy into Facebook.  I’ll work on that.  I also have a few posts in Blogger that I set up as a temporary blog to copy across.

One difficulty is that I have probably lost most of my readers.  Please return. (10)

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MacroBusiness Tuesday, September 1, 2015 - 09:21 Source

By Leith van Onselen Perth Now has run an article claiming that foreigners are clamouring to buy “cheap” Perth apartments, with up to 40% of sales of new city complexes reportedly being snapped-up by Asian buyers: As Perth’s property market continues to decline, more developers are looking overseas to move stock and are now hiring

The post Perth apartments: fools gold for foreign buyers appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, September 1, 2015 - 09:18 Source

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MacroBusiness Tuesday, September 1, 2015 - 08:47 Source

Chris Weston, Chief Market Strategist at IG Markets There is an interesting dynamic at play today, with oil continuing to find huge upside price action and inflation expectations further stabilising at a time when a number of G10 central banks meet. One of those is the Reserve Bank of Australia (RBA), who meet today, and

The post US bond yields keeping AUD/USD rallies subdued‏ appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 08:29 Source

by Chris Becker It’s that crazy time again – predicting interest rate decisions from the RBA monthly meeting. It’s very hard to make predictions, especially about the future, but I think this one is in the bag: hold. Mainly because of ammunition required in the quarters and years ahead as we “sleepwalk into recession”. Let’s

The post RBA to hold, but only just appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 08:20 Source

By Leith van Onselen The AFR’s Joanna Mather has put together a nice summary of last week’s National Reform Summit, whereby consensus seems to have been reached on the need to include one’s principal place of residence in the assets test for the Aged Pension: At last week’s National Reform Summit, free-market and progressive think

The post Consensus arrives on pension assets test appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 07:40 Source

By Leith van Onselen The Committee for Economic Development Australia (CEDA) has released a new paper, The super challenge of retirement income policy, outlining its plan for retirement reform. The paper argues that Australia’s ageing population and decreasing housing affordability means the current structure and policies in place may not be robust enough to ensure

The post CEDA revives flawed super-housing fix appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 07:15 Source

by Chris Becker Iron ore prices barely lifted yesterday: As exports of iron ore from Australia to China increased 6% year on year to 155 million tonnes, yet earnings declined by 30% according to China Resources Quarterly. They also report that China’s steel production recorded a 1% decrease in 2Q of this year, in line

The post Daily iron ore price update (S&P laugh) appeared first on MacroBusiness.

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MacroBusiness Tuesday, September 1, 2015 - 07:03 Source

By Chris Becker Hesitation and uncertainty are the names of the game in risk markets right now, following the recent rout. Except in oil, which is bursting like a milkshake as the short squeeze from its recent collapse pushes the sweet crude almost 30% from its bottom! Stocks were muted across all regions last night,

The post Macro Morning (Oil rocket) appeared first on MacroBusiness.

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Peter Martin Tuesday, September 1, 2015 - 06:47 Source

If we were sleepwalking into a mess, would we know it? Our leaders wouldn't.

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MacroBusiness Tuesday, September 1, 2015 - 06:39 Source

By Leith van Onselen Below is a quick update on the latest fortnightly State Government data on housing transfers and mortgage lodgements for Queensland. As shown below, the number of housing transfers and mortgage lodgements (including refinancings) bottomed in December 2012 and has been rising gradually ever since, commensurate with Queensland housing prices: The number

The post Queensland’s slow housing recovery appeared first on MacroBusiness.

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Ambit Gambit Tuesday, September 1, 2015 - 06:31 Source

Unless the unions challenge Dyson Heydon’s ruling that he does not suffer from apprehended bias they are piling criminality on criminality. In a statement yesterday ACTU Secretary Dave Oliver said the Trade Union Royal Commission is “terminally tarnished”. It is a crime to try to bring a Royal Commission into disrepute. Unless Oliver and his […]

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MacroBusiness Tuesday, September 1, 2015 - 06:14 Source

By Westpac’s Elliot Clarke: The lack of inflation in early 2015 has provided strong justification for the FOMC to hold off on policy normalisation, despite the unemployment rate signalling a labour market near full employment. Simply, on both a CPI (0.2%yr) and PCE basis (0.3%yr; the FOMC’s preferred measure), annual headline inflation is much closer

The post A turning point for US inflation? appeared first on MacroBusiness.

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