Articles from MacroBusiness

Lookout Coles/Woolies, Kaufland planning aggressive expansion

By Leith van Onselen Another German discount supermarket giant, Kaufland, is readying for an aggressive expansion into Australia with 32 stores to open in Australia by 2023. From The AFR: The world’s fourth largest retailer, the Schwartz Group, has injected another $60 million capital into Kaufland Australia… Kaufland, the sister chain of German discounter Lidl,

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Can coal save house prices?

You wouldn’t know it from reading the MSM but Australia is in the middle of its second largest coal boom in history: The causes are many: China rationalisation and stimulus, supply side accidents etc. Both will ease from here most likely but not crash. And that means this, via the AFR: The federal government could

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Labor flags huge NBN writedown

By Leith van Onselen The federal Opposition’s communications spokeswoman, Michelle Rowland, says Labor is considering a writedown of the National Broadband Network (NBN) if it wins the next election. Doing so would make it easier for NBNCo to reduce the cost at which it sells broadband capacity to telcos, but it would also cause a

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Turns out there really is a “Trump derangement syndrome”

And a million snowflakes cried out in the darkness, via Politico: CNN before love-making is not his idea of a turn-on. But she can hardly turn it off—engrossed as she is in the latest unnerving gyrations of Washington. Who else to blame but Donald Trump? A president who excites hot feelings in many quarters has

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MB Presentation: The vain hope for more infrastructure

Last weekend I gave a short presentation at a Sustainable Australia community meeting in Melbourne. In this presentation, I explain why Australia has developed a massive infrastructure deficit and why it will only get worse as long as the ‘Big Australia’ mass immigration program is maintained. I also explain why living standards will unambiguously worsen

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Daily iron ore price update (all good)

Iron ore prices for October 12, 2018: Spot was up. Paper and steel firm. Rebar inventories are absolutely fine, still up one million tonnes on last year: As production remains mad, via CISA for late September output at 1.98mt: Friday’s trade data was also very much in control with steel exports leveling out around 6mt.

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US-Saudi tensions erupt at the wrong moment

Via Bloomie, this is not what the market needed: Saudi Arabia threatened on Sunday to use its economic clout to retaliate against any punitive measures, hitting back after U.S. President Donald Trump said he could take action against the world’s largest oil-exporter over the disappearance of a government critic. “The kingdom emphasizes that it will

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Macro Morning (Trading Week)

By Chris Becker A tumultous week on equity markets, spurred by the “Bondcano” as 10 year US Treasury yields continue to spike higher above the much vaunted 3% level. This has caused a cascade of effects, exarcebated by the ongoing trade tensions between the US and China. This has been setting up for sometime as

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Morrison polling disastrous

Let’s start with the good news at The Australian, a small bounce in TPP for the Government to slightly less than total destruction at 47-53: Now for the bad news at Domainfax which sees it only getting worse at 45-55: The difference may arise from how the two polls allocate preferences. Newspoll is based on

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Crashing sales a bad omen for housing and economy

By Leith van Onselen A few week’s back, we noted that the collapsing property sales volumes across Australia is a bad omen for prices: Over the weekend, Domainfax economist, Trent Wiltshire, posted interesting research on the collapsing sales volumes and what it means: In fact, the national housing turnover rate — the number of residential

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