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MacroBusiness Saturday, April 1, 2023 - 00:10 Source

According to Canstar modelling reported this week, about a quarter of all borrowers are paying 6.5% or more on their variable rate loans, which is significantly higher than the lowest loan rate. The inability of these mortgage holders to shop around for a better offer will result in thousands of dollars in additional yearly mortgage

The post Don’t be a mortgage fool appeared first on MacroBusiness.

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MacroBusiness Saturday, April 1, 2023 - 00:01 Source

PropTrack has released its home values results for March, which shows that values nationally rose by 0.13% in March – their third consecutive monthly increase – to be up 0.49% in 2023: The next chart plots annual price growth across the major capital cities, with Sydney (-6.0%) and Melbourne (-5.8%) leading the annual decline: Prices

The post Australia’s house price recovery broadens appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 23:59 Source

Global macro / Markets / Investing: Roughly two-thirds of jobs in the US and Europe are exposed to some degree of AI automation – FT 10 Companies Founded in a Recession – Altoira Investing ‘It’s honestly changed my life’: Employees from one of the biggest 4-day-workweek trials say working less improved their lives but was

The post Weekend Reading: 1-2 April 2023 appeared first on MacroBusiness.

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Club Troppo Friday, March 31, 2023 - 18:27 Source

(Cross posted from On Line Opinion)

Australians are very mindful of prejudice and discrimination in our community, and rightly so. Yet, many prejudices are so fashionable and pervasive that they go unnoticed.

I am a member of an ethnic and cultural group called Whyjens. It is with some shame that I acknowledge our massive over-representation in the prison population. This fact is routinely and publicly interpreted as an indication of our intrinsically violent nature. It is variously blamed on genes and/or culture both in the Australian and the Guardian.

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MacroBusiness Friday, March 31, 2023 - 17:27 Source

David, Michelangelo, 1501-1504, Galleria dell’Accademia, Florence, Italy   AUD/USD   EUR/USD GBP/USD USD/JPY   WTI   Brent  

The post Macro Afternoon: 31 March 2023 appeared first on MacroBusiness.

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Your Democracy Friday, March 31, 2023 - 15:31 Source

On 14 March, when the AUKUS nuclear powered-submarine details were revealed, I spent most of the day in the Emergency Department of a hospital in Brisbane, with a family member needing urgent medical care.

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Renew Economy Friday, March 31, 2023 - 14:45 Source

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MacroBusiness Friday, March 31, 2023 - 14:30 Source

Below is an article I wrote for News.com.au: Against the odds, Australian house prices are rising in the face of ongoing interest rate rises. PropTrack’s dwelling values index recorded a 0.2 per cent rise in February, which followed January’s 0.1 per cent increase. Based on the rebound in auction clearance rates this month, prices will

The post Is Australia’s property recovery for real? appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 14:00 Source

Recently in Washington, Joe Biden exercised his presidential veto powers for the first time on a bill that would have banned federal pension fund managers from considering ESG issues for investment and shareholder rights decisions. The Republicans want to stop what they’re calling ‘woke¹ liberal’ practices by their customary friends in Wall Street and Corporate

The post Joe Biden’s “Woke(1) Capitalism” appeared first on MacroBusiness.

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Cheeseburger Gothic Friday, March 31, 2023 - 13:43 Source

Along with my protein and fibre, I’ve been trying to hit some sleep goals since I started strength training. I’m not the complete idiot I used to be about going to bed.

Felafel, for instance, was written between 11pm and 5am. Someone over at the Boob said it was the ‘most ADHD’ book they’d ever read. I get that, but I don’t think I have ADHD. I just don’t tick enough boxes, and I have a whole degree in psychological box-ticking.

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MacroBusiness Friday, March 31, 2023 - 13:30 Source

For years immigration shills have argued that Australia must run a “strong” migration program in order to counteract an ageing population. Their standard line of argument is that migrants typically are younger than the local populace. Consequently, importing people through immigration always reduces the population’s average age, resolving the “problem” of population ageing. Anyone with

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MacroBusiness Friday, March 31, 2023 - 13:00 Source

Economist Warren Hogan has warned the decline in housing approvals alongside the flood of migrants will have a “brutal” impact on the rental markets in Sydney and Melbourne, and will see an increase in homelessness. “If it is not in a crisis yet, this surge of migration will absolutely push the rental market in Sydney

The post Australia faces “brutal” rental shortage appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 12:38 Source

Honestly, I have no idea where this is going to end: Trump was indicted by a Manhattan grand jury, prosecutors and defence lawyers after an investigation into payments made during his 2016 presidential campaign to silence claims of an extramarital sexual encounter. The indictment itself remains sealed for now in the first criminal case ever

The post Trump dump appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 12:30 Source

As usual, business groups are lobbying the Fair Work Commission hard to ensure the minimum wage rises by far less than inflation. The Australian Chamber of Commerce and Industry (ACCI) has asked for a 3.5% minimum wage increase, or 75c an hour, to $841.04 a week. That would be less than half the December quarter

The post Labor talks sense on minimum wage appeared first on MacroBusiness.

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Renew Economy Friday, March 31, 2023 - 12:24 Source

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MacroBusiness Friday, March 31, 2023 - 12:00 Source

The Reserve Bank of Australia (RBA) has released data on the value of mortgages outstanding, which shows that mortgage growth fell to just 1.0% over the February quarter. This was the slowest rate of growth since October 2020: Mortgage growth has tanked across both owner-occupiers (1.2%) and investors (0.6%): Annual mortgage growth has also fallen

The post Aussie mortgage crash rolls on appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 11:30 Source

On Thursday, I alluded to a new e61 research report, which aligns with Macro Business’ long-held arguments that Australia’s mass immigration system is lowering Australia’s productivity and eroding living standards. Below are key extracts from e61’s report, which highlight why Australia needs to run a smaller and more targeted immigration system that is focussed on

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MacroBusiness Friday, March 31, 2023 - 11:00 Source

Tiresome perhaps but this is the nature of the beast. The Market Ear shows why.  Positioning lows at equity highs Tactical backdrop right now is needless to say explosive. Positioning & sentiment indicators are very depressed and equities are trading resilient and also looking to break out. Here are some new charts that we are

The post Another bear market rally appeared first on MacroBusiness.

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Renew Economy Friday, March 31, 2023 - 10:53 Source

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MacroBusiness Friday, March 31, 2023 - 10:30 Source

CoreLogic’s daily dwelling values index results for March are out with values rising 0.8% across the five major Australian capital cities: It was the first monthly rise in values since April 2022, and the largest rise since January 2022. The increase in values was driven by Sydney, where prices boomed by 1.4%. Values also rose

The post Sydney house prices go BOOM! appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 10:00 Source

DXY is sagging again as European HICP’s came in hot: AUD is underperforming: Oil is at former support now resistance: Dirt has discounted very little: Miners to the moon: EM stocks firming: And junk: As Treasuries are bid: Stocks discount nothing but blue skies: All that is missing is all that matters: If US regional

The post Australian dollar no safe haven appeared first on MacroBusiness.

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MacroBusiness Friday, March 31, 2023 - 09:30 Source

One of Australia’s greatest China friends is on the hustings: Dr Forrest also said it had been important to get the message across that Australia’s $360bn investment in nuclear-powered submarines was for defensive purposes and would not be used to attack China. “In meetings with Chinese officials, I have made it really clear that there

The post AUKUS shocks Twiggy Forrest senseless appeared first on MacroBusiness.

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Renew Economy Friday, March 31, 2023 - 09:29 Source

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MacroBusiness Friday, March 31, 2023 - 09:00 Source

This is fascinating: Australia’s “quiet quitting” of its LNG export juggernaut is making the world less safe, both on climate and for the Western-based geopolitical order, said the head of Inpex Corp, whose $60 billion plus investment in Darwin’s Ichthys projects makes it Japan’s single biggest global foreign investment play. In a scathing speech to

The post Gas cartel overreach comes back to haunt it appeared first on MacroBusiness.

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Renew Economy Friday, March 31, 2023 - 08:43 Source

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Renew Economy Friday, March 31, 2023 - 08:25 Source

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Renew Economy Friday, March 31, 2023 - 07:34 Source

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Cheeseburger Gothic Friday, March 31, 2023 - 07:29 Source

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Your Democracy Friday, March 31, 2023 - 06:24 Source

The biggest threat facing the USA is not the collapse of democracy. Even though a twice impeached former president talks of death and destruction if he is arrested, while New York’s Attorney General seeks his indictment.

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MacroBusiness Friday, March 31, 2023 - 00:05 Source

Dwelling values across Australia’s five major capital city markets have rebounded by 1.0% since 7 February, driven by a strong 1.9% rise across Sydney: In an interview this week with Equity Mates Investing Podcast, Coolabah Capital’s Chris Joye explained why he believes the rebound is a seasonal bounce that will reverse when one in four

The post More pain to come for Australian house prices appeared first on MacroBusiness.

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