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Macro Morning

April 20, 2021 - 09:00 -- Admin

Wall Street fellback from its record highs after Congress decided to hit the tech heavies with more anti competition legislation while the USD was also effected as Euro spiked to a new weekly high above the 1.20 handle. Treasury yields lifted again as commodity prices finally found a positive mood although gold fell back unexpectedly.

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Sydney property on track for 30% price growth

April 20, 2021 - 00:15 -- Admin

Sydney property prices continue to smash multi-decade long records. CoreLogic’s March dwelling value results revealed a gigantic 3.7% monthly rise in Sydney home values – the strongest monthly result since August 1988: Since then, the pace of quarterly dwelling value growth has continued to rise. As of yesterday (i.e. 19 April 2021), Sydney’s quarterly dwelling value

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Australian dollar to sink as US rises and China falls

April 20, 2021 - 00:10 -- Admin

As much of the MSM celebrates China’s post-COVID economic recovery, mistaking short-term catch-up growth for something more sustainable, MB has been arguing quite the opposite. China is going to slow relatively quickly as it returns to its program of economic restructuring and away from wasteful construction sectors. Today, Capital Economics agrees: With the growth trajectories

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Links 20 April 2021

April 20, 2021 - 00:01 -- Admin

Global Macro / Markets / Investing: Bulking up: Booms and busts in maritime transport costs and their drivers – VOX The new U.S. plan to rival China and end cornering of market in rare earth metals – CNBC A tale of hours worked for pay from home before and after the Great Recession: Learning from

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Macro Afternoon

April 19, 2021 - 17:30 -- Admin

Asian share markets are generally moving higher although local stocks are stalling despite a very firm lead from Wall Street on Friday night. Bitcoin suffered a big gap lower to start the week below the $57K mark due to Turkey banning cryptocurrency transactions, but this is likely to be filled as Chinese authorities again suggest

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Why it’s time to move your assets offshore

April 19, 2021 - 14:00 -- Admin

Following the Great Pandemic of 2020, the global economy is entering a robust recovery. This new business cycle is not like those that have come after the previous two crises, the Global Financial Crisis and Tech Wreck. Those two crashes were led by the US and the recoveries led by China. This time around, the

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New home sales continue to boom on HomeBuilder stimulus

April 19, 2021 - 13:40 -- Admin

The Housing Industry Association (HIA) has released new home sales data for March, with sales 39.4% higher than the same month in 2020 and annual sales up by 42.6%: “New Home Sales were 39.4 per cent higher in the March 2021 quarter than the same time the previous year,” stated HIA’s Economist, Angela Lillicrap… “HomeBuilder,

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CBA: Housing to push inflation higher

April 19, 2021 - 13:20 -- Admin

By Gareth Aird, head of Australian economics at CBA: Key Points We expect the headline CPI to increase by 1.1% in Q1 20 (+1.6%/yr). The trimmed mean CPI on our forecasts will print at +0.6% (1.3%/yr). The inflation debate is expected to heat up over 2021 as the labour market continues to tighten and wages

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There’s an easy fix to skills shortages — pay higher wages

April 19, 2021 - 13:00 -- Admin

The ABC’s business editor, Ian Verrender, has written a terrific article debunking the business lobby’s incessant claim that Australia is experiencing skills shortages and needs to import migrant workers. According to Verrender: The shortage claim lacks empirical evidence: “If it really is the case that skilled labour is in such short supply, why aren’t wages

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The new MMT supercycle

April 19, 2021 - 12:40 -- Admin

TS Lombard with the note: In a recent podcast, the influential MMTer Stephanie Kelton claimed victory in the debate about fiscal policy, suggesting the US Congress was now taking her advice. Other commentators also sense a “regime shift” in macro policy, claiming we have reached the end of the Neoliberal era. While these declarations are

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