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Renew Economy Friday, March 15, 2024 - 11:49 Source
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MacroBusiness Friday, March 15, 2024 - 11:30 Source

Last decade, we witnessed the biggest high-rise apartment construction boom in Australia’s history, concentrated in the major cities. This boom in high-rise apartment complexes coincided with an increase in construction faults and quality issues, such as cracking foundations, water leaks, balcony defects, and flammable cladding. Notable examples include Sydney’s Opal and Mascot Towers, which were

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MacroBusiness Friday, March 15, 2024 - 11:00 Source

By Gareth Aird, head of Australian economics at CBA: Key Points: We expect the RBA will leave the cash rate unchanged next week in a straight forward decision. The Q4 23 national accounts were probably a touch softer than the RBA anticipated, but not sufficiently so for the RBA to change their communication strategy. As

The post RBA to hold rates next week ahead of easing cycle appeared first on MacroBusiness.

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xkcd.com Friday, March 15, 2024 - 11:00 Source

Doug's cousin, the one from London, runs a Bumble love cult.

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MacroBusiness Friday, March 15, 2024 - 10:30 Source

Last week’s Q4 national accounts suggested that Australia’s population grew by a record 680,000 people in 2023, which is the equivalent of around 1.5 Canberra’s. On Thursday, the Australian Bureau of Statistics (ABS) released net permanent and long-term arrivals data for January, which showed that annual net arrivals hit a record 482,000: The next chart

The post Aussie immigration surged higher in January appeared first on MacroBusiness.

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MacroBusiness Friday, March 15, 2024 - 10:00 Source

The Market Ear with the latest challenge to the bull market. Higher for longer trying a comeback The 10 year yield is making a massive up candle as we take out the 4.2% resistance. Note that we are now above the 200 day moving average and that we are closing in on a potential golden

The post Rates versus risk appeared first on MacroBusiness.

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MacroBusiness Friday, March 15, 2024 - 09:30 Source

The Australian political economy is transformed…into a mental illness. From the hopes of personal freedom, fulfilment, and liberalism of the 1980s Boomer generation, we have shifted into a structurally disenfranchised Generation Y with zero prospect of upward mobility. Wages are low. House prices are impossible. Rents are a moon rocket. This baleful class warfare cuts

The post Australia’s Brave New World appeared first on MacroBusiness.

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Renew Economy Friday, March 15, 2024 - 09:24 Source
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MacroBusiness Friday, March 15, 2024 - 09:00 Source

A firmer than expected PPI inflation print overnight sent Wall Street stumbling again as retail sales also softened greater than expected. This lead to a rise in both the USD and bond yields, muddying the waters on the Fed’s position going into next week’s FOMC meeting. Asian shares had a poor showing yesterday with futures

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Friday, March 15, 2024 - 08:34 Source
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Your Democracy Friday, March 15, 2024 - 08:19 Source

 

Although the words have remained the same, the notions of separation, absence, distance, return, no longer contain the same realities. To understand the world today, we use a language that was established for the world of yesterday. And life of the past seems to us to respond better to our nature, for the sole reason that it responds better to our language.

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MacroBusiness Friday, March 15, 2024 - 07:58 Source

DXY reversed upwards: AUD did the Costanza: North Asia too: Oil and copper broke out sending an unambiguous no-landing signal: Miners are fooked as iron ore heads for the cost curve: EM fell: Junk did OK: Given the yield back-up: Stocks held on: US PPI was a shocker at 0.6 versus 0.3 expected, largely on

The post Australian dollar crushed by rate spike appeared first on MacroBusiness.

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Renew Economy Friday, March 15, 2024 - 07:56 Source
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The Tally Room Friday, March 15, 2024 - 07:00 Source

Ben was joined by William Bowe from the Poll Bludger to discuss the Tasmanian state election. We run through the five state electorates one by one, and discuss what we’ll be watching for on election night.

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MacroBusiness Friday, March 15, 2024 - 07:00 Source

It looks like we are headed for a cost-curve shakeout in the FE markets sooner rather than later. Rebar futures are getting there. SGX is aflame: Dalian broke the residence at 800 last night: Coking coal is in free fall: MySteel wraps it nicely: The inventories of finished steel products at the warehouses of Chinese

The post Flaming iron ore comet hurtles towards earth appeared first on MacroBusiness.

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Your Democracy Friday, March 15, 2024 - 06:53 Source

On 13 November 2023, following the terrible attack by Hamas on Israel, Jürgen Habermas and three other prominent German academics released a statement condemning the rise of antisemitism in Germany. They also criticised the use of the term “genocide” to describe Israel’s response. 

Israel’s military retaliation was “justified in principle”, they argued, and despite

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Cheeseburger Gothic Friday, March 15, 2024 - 06:41 Source

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MacroBusiness Friday, March 15, 2024 - 00:05 Source

A job well done by Albo and friends. Bloomberg has, rightly, made Australia the global pin-up boy for housing catastrophe: The video features too many parasites and doesn’t make enough of immigration, but it has some good anecdata from the suffering.

The post Australia becomes housing catastrophe global icon appeared first on MacroBusiness.

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MacroBusiness Friday, March 15, 2024 - 00:01 Source

The Courier Mail published an article on the worsening rental crisis afflicting Brisbane, with tent cities mushrooming across the city: “The number of people congregating in these kinds of arrangements at the moment is absolutely a function of the lack of housing in the system”, Q Shelter executive director Fiona Caniglia said. “The reason why

The post More Australian renters turfed onto the streets appeared first on MacroBusiness.

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Cheeseburger Gothic Thursday, March 14, 2024 - 18:17 Source

Okay, if I was a graphic novelist, this would be a little terrifying. Dude here, Will Douglas Heaven, has found an AI that can turn your book or short story or poem into, well, graphic novel.

Thirteen years ago, as an assignment for a journalism class, I wrote a stupid short story about a man who eats luxury cat food. This morning, I sat and watched as a generative AI platform called Lore Machine brought my words to life.

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MacroBusiness Thursday, March 14, 2024 - 17:30 Source

Asian share markets are putting in very mixed sessions as the trading week continues with currency markets swinging back against USD. Wall Street is looking to open slightly higher despite the mixed mood with futures bunching up and ready to engage higher heading into the London session. The Australian dollar has been unable to buck

The post Macro Afternoon appeared first on MacroBusiness.

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Renew Economy Thursday, March 14, 2024 - 16:04 Source
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The Australian Independent Media Network Thursday, March 14, 2024 - 15:18 Source

Parliament of Australia Media Release The Parliamentary Joint Committee on Intelligence and Security (PJCIS) today tabled its Advisory Report on the Defence Amendment (Safeguarding Australia’s Military Secrets) Bill 2023. The Committee’s unanimous report recommended that the Bill pass and made four recommendations for the Government’s consideration including: assessing the existing legislation and procedures and whether they sufficiently…

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MacroBusiness Thursday, March 14, 2024 - 14:00 Source

At the risk of being killed by my daughters, we must ask if Australia should ban TikTok: Australia should consider copying a move by the US House of Representatives to force Chinese company ByteDance to divest its social media app TikTok based on national security concerns. That’s the view of top defence technology experts in Washington

The post Ban WeChat, not TikTok appeared first on MacroBusiness.

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Renew Economy Thursday, March 14, 2024 - 13:40 Source
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Renew Economy Thursday, March 14, 2024 - 13:33 Source
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MacroBusiness Thursday, March 14, 2024 - 13:30 Source

Earlier this week, the Australian Bureau of Statistics (ABS) released data showing that the total value of Australia’s dwelling stock hit a record high $10.4 trillion at the end of 2023: The average price of Australian dwellings also rose to $933,800. Separate data released on Thursday by CoreLogic also showed that the total value of

The post Aussie housing wealth hits new high appeared first on MacroBusiness.

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Renew Economy Thursday, March 14, 2024 - 13:27 Source
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Renew Economy Thursday, March 14, 2024 - 13:05 Source
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MacroBusiness Thursday, March 14, 2024 - 13:00 Source

I haven’t seen this report so can’t comment directly but here are Goldman’s new iron ore forecasts: Q1 US$120 a tonne Q2 US$115 a tonne Q3 US$105 a tonne Q4 US$100 a tonne 2025 $95 2026 $93 2027 $92 58% benchmark price to be 89% in 2024, 86% in 2025, and 83% in 2026 and

The post Goldman’s iron ore flying pig appeared first on MacroBusiness.

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