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MacroBusiness Thursday, June 17, 2021 - 10:45 Source

As we know, I triggered about a $30 rally in iron ore prices in the past week when I reminded the market that Vale was facing another possible dam bust and crisis (or it was thew wind). The news today is that that crisis ie easing swiftly: Brazilian regulators have inspected the Xingdu damn and

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MacroBusiness Thursday, June 17, 2021 - 10:30 Source

The last time I wrote on FriendlyJordies was to give him a whipping for getting into bed with Labor and Kevin Rudd. This serves only to dim his political flame-thrower. But the recent material produced on NSW political corruption has been superb. There are three points to make on this. First, watch it and see

The post FriendlyJordies napalms Berejiklian’s fascists appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 10:20 Source

Below find the latest installment from an uber-dovish Phi Lowe. The AUD rose a few pips though god only knows why. This is as dovish as he could possibly get: no inflation, no wage growth, recovery incomplete, no macroprudential (which will come first). Nothing hawkish. And he sure isn’t going to tighten when so much

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THE BLOT REPORT Thursday, June 17, 2021 - 10:12 Source

Just about everyone knows who Anne Frank was, because of the post-war publication of her diary by the surviving members of her family.

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MacroBusiness Thursday, June 17, 2021 - 10:00 Source

Indeed economist Callam Pickering has updated his Australian job postings series, which tracks the level of job postings since the beginning of the pandemic. According to Pickering, Australian job postings are tracking were tracking 45.5% higher than their pre-pandemic level as at 11 June; although the level of postings has stabilised: Despite Victoria’s latest hard

The post Job postings strong ahead of ABS employment release appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 09:30 Source

The ferrous complex was weak on June 16, 2021 as spot, paper and steel all fell: There was a pretty nasty combination of factors. First this: The State-owned Assets Supervision and Administration Commission has ordered state-owned enterprises to control risks and limit their exposure to overseas commodities markets, according to people with knowledge of the

The post Daily iron ore price update (rainbow butt) appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 09:00 Source

China has released its May data and the news is boom! Not. The data is so distorted by COVD base effects that it’s still very difficult to read. Simple year-on-year and year-to-date comparisons looks outrageously good. Year-to-date growth to the end of May is 17.8% for industrial production, 25.7% for fixed asset investment and 15.4%

The post China booms. Not appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 08:30 Source

A seismic shift in risk markets overnight with the US Federal Reserve moving its so-called dot plot into the affirmative for more rate hikes, sooner than expected. This spooked Wall Street and saw the USD soar against all the major currencies, plus wiping out gold prices.  Bond markets saw a big increase overall in yields

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Thursday, June 17, 2021 - 07:51 Source

High school students Ava Princi, Liv Heaton, Izzy Raj-Seppings and Laura Kirwin embrace outside The Federal Court of Australia in Sydney.</body></html>

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MacroBusiness Thursday, June 17, 2021 - 06:59 Source

Policy error time. The Fed has blinked and the Australian dollar just broke. Don’t cheer too loudly. My risk case for a decent market correction just firmed up. DXY blasted higher: Australian dollar was pulverised and the giant head and shoulders top is back in play: Gold was poleaxed. Oil held up but all commodities

The post Australian dollar breaks as Fed blinks appeared first on MacroBusiness.

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Your Democracy Thursday, June 17, 2021 - 05:28 Source

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Geneva Summit Live Updates: Putin, Biden Sign Declaration to Ensure Nuclear War is Never Unleashed

 

In April US President Joe Biden offered Russian President Vladimir Putin to meet during the summer in one of the European countries.

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Renew Economy Thursday, June 17, 2021 - 00:50 Source

AEMO's Daniel Westerman says there is a "paradigm shift" in the WA grid thanks to rapid uptake of solar, but

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MacroBusiness Thursday, June 17, 2021 - 00:15 Source

For months we have witnessed Australia’s employer groups lobby the federal government for easier access to foreign workers due to purported crippling labour shortages. However, when it comes to actually paying more to attract Australian workers into their respective industries, they are firmly opposed. In the lead-up to yesterday afternoon’s minimum wage decision by the

The post Contradictory employers cry foul at 2.5% minimum wage increase appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 00:10 Source

The Australian property market continues to rebound hard out of the COVID-19 pandemic. Following a 2.6% decline in dwelling values across the five major capital city markets between 15 March (the unofficial start of the pandemic) and 13 October 2020 (the bottom), values have since risen by 13.1% across the combined five major capital city

The post Aussie property values up 10% since start of pandemic appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 00:01 Source

Global Macro / Markets / Investing: The Fed Cannot Control Its Easy-Money Monster – NY Times World’s Bubbliest Housing Markets Flash 2008 Style Warnings – Bloomberg Stability of collusion and quality differentiation: a Nash bargaining approach – Bruegel Nobel Prize winning economist Muhammad Yunus says 2050 may be too late to save planet. – Yahoo

The post Links 17 June 2021 appeared first on MacroBusiness.

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Club Troppo Wednesday, June 16, 2021 - 19:44 Source

Wellbeing & Policy Making Book Launch Event on 1st July 5-6.30pm London Time. Attending the Launch is Free, the book is not!

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MacroBusiness Wednesday, June 16, 2021 - 17:00 Source

The market is oscillating between value and growth months. In May it was the turn of value portfolios (including ours) to outperform. Our direct equity portfolios beat benchmarks by over 1% on the month and our tactical asset portfolios finished up between 1% and 2.7%. We have, however, called time on the value trade. The

The post MB Fund May 2021 Performance appeared first on MacroBusiness.

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MacroBusiness Wednesday, June 16, 2021 - 16:30 Source

Asian share markets are mixed again with Chinese bourses continuing to fall, with Japanese stocks joining in while local issues are unchanged. The USD continues to strengthen against the major currencies as volatility drops going into tonight’s Federal Reserve meeting. Gold is trying to lift off the floor after selling off overnight and is slowly

The post Macro Afternoon appeared first on MacroBusiness.

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John Quiggin Wednesday, June 16, 2021 - 16:14 Source

I took part in a UQ Economics Thought Leadership event last week, looking at this topic. It was a family event as my cousin Robynne, who has done lots of work in this field (currently chairs the Board of the NSW Aboriginal Housing Office, as well as being a professor at UTS among lots of other positions), also took part.

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Renew Economy Wednesday, June 16, 2021 - 16:04 Source

Labor's Chris Bowen brandishes a solar panel in Parliament, telling the Morrison government not to be afraid of renewable energy.

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Club Troppo Wednesday, June 16, 2021 - 15:36 Source

As I struggle with my ninety-fifth year, I would like to beg forgiveness from the true believers in sortition.

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Renew Economy Wednesday, June 16, 2021 - 15:23 Source

aluminium unplash - optimisedResources giant Rio Tinto will explore the use of renewable hydrogen in alumina pro

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Renew Economy Wednesday, June 16, 2021 - 15:21 Source

Aldi has become Australia's first supermarket chain to source 100% renewable electricity for its operations – and has done so six months ahead of schedule.

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Renew Economy Wednesday, June 16, 2021 - 15:20 Source

Solar developer Fotowatio Renewable Ventures will build its first battery in Australia with a hybrid solar-storage power plant near Dalby in southern Queensland.

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MacroBusiness Wednesday, June 16, 2021 - 14:30 Source

The ABC has published another story touting tiny houses as “one way young people can afford real estate”: For Lucy and Jonty, the cost of their tiny house was around $120,000, including solar panels. That compares to the median Hobart dwelling value of $574,543, according to CoreLogic figures from May… It means they’re now committed

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Your Democracy Wednesday, June 16, 2021 - 14:09 Source

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The Duchess of Cambridge has said she "can't wait" to meet her new niece, Lilibet Diana.

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Renew Economy Wednesday, June 16, 2021 - 14:03 Source

CECThe finalists in the 2021 Clean Energy Council Awards have been announced.

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MacroBusiness Wednesday, June 16, 2021 - 14:00 Source

The ANZ-Roy Morgan Consumer Confidence survey has been released covering the weekend of 12-13 June. Consumer Confidence increased 0.3 points to 111.0 after Melbourne emerged from its two-week hard lockdown, with confidence just below the 2021 weekly average of 111.3 but 13.5 points higher than the same week a year ago (97.5): According to ANZ

The post Consumer confidence rebounds post Melbourne lockdown appeared first on MacroBusiness.

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Renew Economy Wednesday, June 16, 2021 - 13:45 Source

strategy View of Canberra city - optimised ACT government shane rattenbury andrew barrA plan to build a 250MW Canberra Big Battery attracts strong interest for the biggest aggregation of distributed batteries in the country.

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MacroBusiness Wednesday, June 16, 2021 - 13:30 Source

In March two key reforms came into effect designed to take the steam out of New Zealand’s fast inflating property market. First, the Reserve Bank of New Zealand (RBNZ) reintroduced loan-to-value ratio (LVR) mortgage restrictions, which from 1 March 2021 required both investors and owner-occupiers to hold bigger deposits: Second, and more importantly, the New Zealand

The post NZ property market powers past Ardern’s investor tax reforms appeared first on MacroBusiness.

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