Oz Blog News Commentary

Articles from MacroBusiness

China is cooking the planet

March 4, 2024 - 07:30 -- Admin

The IEA released its annual CO2 data for 2023 last Friday. The news is not all bad with some tailing off in the trend: However, DM efforts are not yet offsetting EM surges, most notably in China: The landscape of emissions continues to change. China’s total CO2 emissions exceeded those of the advanced economies combined

Iron ore tumbles to the lows

March 4, 2024 - 07:00 -- Admin

On Friday night, Dalian futures tumbled to the recent lows: It had good reasons with Chinese PMIs weak: In February , the manufacturing purchasing managers index ( PMI ) was 49.1% , down 0.1 percentage points from the previous month. The new orders index was 49.0% , the same as last month and still below

Extreme housing shortage forces up prices and rents

March 4, 2024 - 00:10 -- Admin

CBA’s head of Australian economics, Gareth Aird, published a note examining the strong cyclical rise in both house prices and rents. Aird notes that the uplift in prices is highly unusual given the aggressive monetary tightening from the RBA, which has dramatically reduced borrowing capacity. “Dwelling prices have now risen by 10.7% since their cyclical

AI will terminate Australia

March 4, 2024 - 00:05 -- Admin

In his 2019 book. The Technology Trap: Capital, Labour and Power in the Age of Automation, Carl Benedikt Frey covers the history of the Industrial Revolution and how it affected society: Frey’s argument rests on the distinction between labour-enabling technologies and labour-replacing technologies. As the names suggest, labour-enabling technologies complement workers, boosting productivity and opening

Stronger auction market drives re-acceleration in home values

March 3, 2024 - 13:09 -- Admin

CoreLogic has released its preliminary auction results for the weekend, which reported a national capital city clearance rate of 71.8%, down from 73.5% last week (revised down to 68.2% once finalised): With an average downwards revision of -5.9% so far this year, CoreLogic expects the final clearance rate to come in around 65-66%. The preliminary

CBA: Per capita recession to roll on

March 2, 2024 - 00:10 -- Admin

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect Q4 23 real GDP increased by a small 0.2%/qtr, which would take the annual rate to 1.4%. Household consumption is forecast to have edged higher in the December quarter. Business investment, public demand and net exports are anticipated to contribute to quarterly

Weekend Reading and MB media appearances

March 2, 2024 - 00:02 -- Admin

International Reads: Abortions now cost over $450, more than double the price before Roe was overturned, per a reproductive care nonprofit director – Business Insider US spends billions on roads rather than public transport in ‘climate time bomb’ – The Guardian The Starbucks Workers’ Union Has Finally Broken Through – Jacobin Panera Bread exempt from

Macro Afternoon

March 1, 2024 - 17:00 -- Admin

Its green across the board for Asian share markets due to the strong lead from Wall Street overnight with a new month getting the bids going while Japanese stocks close at fresh record highs. The USD is still firming from the overnight inflation print although the Australian dollar has found some life later in the

Reserve Bank won’t hike into “shattered” recession economy

March 1, 2024 - 14:00 -- Admin

Independent economist Tony Alexander believes that the Reserve Bank of New Zealand definitely will not hike into a recession. As a result, New Zealand’s official cash rate (OCR) will not rise from its current level of 5.50%.  The key event needing to be commented on this week was yesterday’s review of the economy, inflation, and