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Articles from MacroBusiness

Leftist “useful idiots” continue their war on wages

November 26, 2018 - 09:30 -- Admin

Here is what Crikey’s Bernard Keane wrote last week on immigration: The same policy breakdown that has occurred in other areas of neoliberal policymaking is now occurring on immigration. It’s generating the same response as in other areas. And it has the same causes. Rinse, repeat. Scott Morrison, who only a matter of months ago

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Daily iron ore price update (destocking rout)

November 26, 2018 - 09:00 -- Admin

Iron ore prices for November 23, 2018: Spot routed. Paper following. Steel smashed. Yet rebar inventories are still down. It does not make complete sense. It looks like steel mills are overproducing and the steel price is sinking as a result. They are responding by destocking raw materials. All normal for this time of year.

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Macro Morning (Trading Week)

November 26, 2018 - 08:30 -- Admin

By Chris Becker  Looking at Chinese stocks first, where last week saw the Shanghai Composite failed to stabilise above tentative support at the 2600 point level, having started the week nearer 2700 points. The bearish bias remains as momentum continues to suggest another downturn here in the wake of the Chinese/American trade negotiations: Japanese stocks are wilting here

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Goodbye Liberal Party

November 26, 2018 - 06:32 -- Admin

Let’s lead off with the disastrous Newspoll: An exclusive Newspoll conducted for The Australian shows the federal Coalition’s primary vote falling for the third poll in a row to a near-record low of 34 per cent, as senior ministers today ­defended claims that Victorian voters at the state poll had taken out their anger on Canberra. The

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UBS: Housing bust to crash economy

November 26, 2018 - 00:21 -- Admin

Westpac shows today that there is still a lot of downside left in the house price correction: Our last Housing Pulse showed buyer sentiment continuing to stabilise but a further weakening in housing markets suggested other factors were driving things – a tightening in lending standards in particular. Three months on its a similar story

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Property locusts demand housing bail-out

November 26, 2018 - 00:20 -- Admin

By Leith van Onselen With property prices and transaction volumes plummeting across Sydney and Melbourne: Australia’s property industry locusts are in full panic mode and have demanded governments take immediate policy action to prevent a housing market “free fall”, including by increasing immigration, relaxing foreign buyer restrictions, stamp duty cuts, and limiting the supply of

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Melbourne auction crash intensifies

November 26, 2018 - 00:18 -- Admin

CoreLogic released its auction report yesterday, which reported another pathetically weak round of auctions, with auction clearances remaining near 2011 lows. The preliminary national auction clearance rate was just 46.9% versus 45.5% last weekend (later revised down to 42.0%). The preliminary clearance rate was also way below the 61.1% recorded in the same weekend of

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Australian dollar falls as commodities buckle

November 26, 2018 - 00:15 -- Admin

Friday night saw a strong DXY, weak EUR and CNY: The Australian dollar fell solidly against DMs: But rose against EMs: Gold eased: Oil crashed another 8%: Base metals followed: And big miners: EM stocks fell solidly: As did US and EM junk: Yet US Treasuries were not bought much: And stocks eased: It’s not

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November 26, 2018 - 00:09 -- Admin

It was a good time not a long time: Here’s some detail on what’s going on from a reader. Confused why Bitcoin’s price is crashing? It might have something to do with this man: Giancarlo Devasini, CEO of Bitfinex and (as revealed by the Paradise Papers) one of the people who created Tether in the

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Links 26 November 2018

November 26, 2018 - 00:01 -- Admin

Global Macro / Markets / Investing: A Demystifying Decade for Economics – JW Mason Dimming the sun: The answer to global warming? – CNN Slate Money Geeks Out on Sovereign Debt – Slate Bitcoin for payments a distant dream as usage dries up – Reuters In Oil’s Huge Drop, All Signs Say Made in the

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