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Renew Economy Wednesday, September 28, 2022 - 15:17 Source

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MacroBusiness Wednesday, September 28, 2022 - 14:00 Source

The usual Aussie bank groveling articles are appearing as we approach full-year results. These articles focus on the juicy dividends without making reference to the business cycle. A bad idea. Bank’s forward earnings multiples have been falling much of this year. Some of this is the lifting margins emanating from rising interest rates. Some of

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MacroBusiness Wednesday, September 28, 2022 - 13:40 Source

Rather than import so many warm bodies to feed this bottomless pit, let’s export Gerry Harvey to China. He wants to go: There’s some laughter from Australian billionaire Gerry Harvey when he suggests that China’s one-party led dictatorship is a model Australia should aspire to if it wants to get things done. But there’s more

The post Let’s export Gerry Harvey to China appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 13:31 Source

solar panel

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MacroBusiness Wednesday, September 28, 2022 - 13:20 Source

Oil enjoyed a nice little pop last night as Vladimir Putin asked OPEC to fund his war: Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint said on Tuesday. The meeting will take place

The post Putin asks OPEC to fund his war appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 13:20 Source

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MacroBusiness Wednesday, September 28, 2022 - 13:00 Source

Federal housing minister, Julie Collins, continues to wax lyrical about Labor’s housing and homelessness plan, claiming she is incredibly passionate about “making sure that more Australians have a safe place to call home”: Ms Collins said she was working with state and territory governments and the construction sector on the issues. Before the May election,

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MacroBusiness Wednesday, September 28, 2022 - 12:40 Source

Here’s a MySteel report for you to digest. The most significant component of the data is the recovery in rebar consumption and output. This is probably led by the infrastructure push which can be very lumpy and so enjoy periods of growth within quarters even if year-over-year comparisons are less flattering. There may be some

The post What’s supporting iron ore? appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 12:20 Source

Retail trade for August is out and is still firm at 0.6% month-on-month and 19.2% year-on-year: Households goods are still booming despite falling house prices: Same for NSW: The question is, how much of this is inflation and how much is actual volume growth? Also, there is a correlation between the recent bounce and with

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MacroBusiness Wednesday, September 28, 2022 - 12:19 Source

It’s like watching a skydiver with a torn parachute: It’s sell first and ask questions later. Credit Agricole discusses why. I can’t see how the G20 can do anything much given how riven geopolitics is: One topic that has featured prominently during recent discussions with clients has been the question about a potential concerted central

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MacroBusiness Wednesday, September 28, 2022 - 12:00 Source

Pantheon with the note. I don’t think so. Restarting stalled projects is one thing. Overturning “houses are for living in not speculation” is another.  But you never know your luck in the big city! Property Stimulus Starts to Show in the Data, but Much More is Needed China’s property sector is yet to pull out

The post Green shoots for Chinese property appeared first on MacroBusiness.

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MacroBusiness Wednesday, September 28, 2022 - 11:30 Source

Well, that escalated quickly. One minute Albo was everybody’s probity hero, the next he’s just another corrupt hack: Legal and integrity experts have criticised the government’s proposed National Anti-Corruption Commission (NACC) for having too high a threshold for public hearings, but those who the government will need to pass the legislation were more positive. The

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MacroBusiness Wednesday, September 28, 2022 - 11:00 Source

Coolabah Capital’s Chris Joye notes “that the great Aussie housing crash is stabilising in the vanguard cities of Sydney and Melbourne”, albeit values nationally are still plummeting at a 16% annual pace (and 22% across Sydney). However, the “bad news is that only a portion of the RBA’s 225 basis points of rate hikes have

The post Australia’s housing bloodbath eases appeared first on MacroBusiness.

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Renew Economy Wednesday, September 28, 2022 - 10:51 Source

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