Articles from MacroBusiness

Hospitality industry needs to train workers, not cry ‘shortage’

Over the past few months, the hospitality industry has been one of the most vocal groups demanding migrant workers to ameliorate purported skills shortages. It has successfully secured favour from Liberal MP Julian Leeser, chair of the parliamentary committee looking into skilled migration, with Leeser singling out the hospitality industry as being in dire need

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Australia continues to lose migrants

The Australian Bureau of Statistics (ABS) has released Overseas Arrivals and Departures data for February 2020, which confirmed that net migration into Australia remains negative. There were 22,830 net permanent & long-term departures in the 11 months since the beginning of the pandemic in March 2020, representing the first time that net arrivals has been

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HomeBuilder delivers massive jump in housing starts

The Australian Bureau of Statistics (ABS) yesterday released Building Activity data for the December quarter of 2020, which revealed a big 18.6% rise in dwelling commencements over the quarter driven by a 27.0% surge in detached house commencements: By comparison, unit & apartment commencements rose by only 4.6% over the quarter and are tracking close

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Women abandon Morrison’s mysogynists

A new study today from Swinburne Univerity is unequivocal about the collapse in support for Morrison’s misogynists: Australian women’s support for the Morrison Government collapsed from 44% to 29% from Q4 20, Q1 21. Men’s rating was unchanged at 47%. This is the largest gender gap in the history of the survey (though that is

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China prepares cold dish of iron ore revenge

Yesterday the ferrous complex was mixed: But the headwaters of iron ore demand are increasingly ruffled. The crunch in China Huarong bonds got worse yesterday with some bonds trading at 80 cents on the dollar and 2022 issuance trading at a yield of 35%. Moreover, there’s an awakening underway that Chinese SOEs are no longer

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Australian dollar to the moon amid crazed risk rebound

DXY is back to its falling regime after the US inflation print. EUR was strong. The Australian dollar is off to the races while this dynamic runs. DXY: The Australian dollar took off against all DMs: Gold was weak as oil rallied: Base metals too: And big miners: EM stocks sat it out in hospital

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Berejiklian completes reverse takeover of Morrison vaccine dills

You have to hand it to Gladys Berejiklian. She may be attracted to toxic blokes but she knows how to handle them as well. To attract the attention of the personality disordered Australian prime minister, Berejiklian and friends spent the last week openly assassinating his government. First, there was the appearance of Brad Hazzard on

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Links 15 April 2021

Global Macro / Markets / Investing: Use of Artificial Intelligence in Cryptocurrency Market – Tech Elevation How Debt and Climate Change Pose ‘Systemic Risk’ to World Economy – NY Times S&P futures cut losses after tame inflation report, Nasdaq futures rise – CNBC Americas: Poll: 15% of Americans worse off a year into pandemic –

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Macro Afternoon: 14 April 2021

AUD/USD USD/JPY EUR/USD Bitcoin Gold Brent Crude Nasdaq 100 ASX 200 S&P 500 Nikkei 225 Hang Seng Global Economic Output 1990-2019

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Mirabile dictu: AFR demands low wage tax cuts

And the world turns! The AFR is now demanding low and middle-income tax cuts to lift demand: We can’t rely on monetary policy forever. The RBA needs to rebuild its ammunition. Fiscal must expand to help the RBA. Tax cuts for income-earners up to $120k can help. A sure way to increase wages. I agree.

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