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Weekend Links: 24-25 July, 2021

July 23, 2021 - 22:47 -- Admin

Across the Yarra, 1931, Clarice Beckett, National Gallery of Victoria   Macro & Markets Why there is no solution to our age of crisis without China – New Statesman The aftermath of sovereign debt crises – VoxEU The long-run effects of pandemics on inflation: Why this time may be different – VoxEU Don’t worry about

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Macro Afternoon

July 23, 2021 - 15:00 -- Admin

Asian stock markets are listless going into the end of the week due to the absence of Japanese traders and continued concern over delta variant outbreaks in the region. Bitcoin however is lifting sharply this afternoon, almost tripping over the $33K level to make a new weekly high while gold is falling back again to

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JobKeeper rorters ignored as unemployed forced to repay welfare

July 23, 2021 - 14:30 -- Admin

The Parliamentary Budget Office (PBO) has reported that 157,650 employers saw their turnover increase between April and June 2020, when compared to the same period in 2019. These employers received a combined $4.6 billion in JobKeeper payments during this period, and Labor MP Andrew Leigh says the figures show how much of taxpayers’ money was

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Albert Edwards asks: Is this really a new business cycle?

July 23, 2021 - 14:00 -- Admin

Albert Edwards of Societe General with the note Many seem at a loss to explain the recent bond market rally in the face of higher-than-expected inflation data. Readers of these pages will not have been surprised, as the collapse in the credit impulse we have been highlighting was calling for just such a rally. More

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Lombard: Don’t worry about Delta

July 23, 2021 - 13:30 -- Admin

TS Lombard with the note: Don’t let your heart rule your head. There are times when one cannot help being emotional, and the last 18months have pushed many of us to emotional breaking points. But when it comes to managing money, introducing emotion into the equation often leads to bad decision-making. (This author was guilty

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Why are bond yield plunging?

July 23, 2021 - 13:00 -- Admin

This is a bit like asking Dracula why there’s a blood shortage but here’s Goldman with its best effort on why bond yields are plunging: Q: The reflation theme in markets seems to be unwinding, led by bonds. What is recent price action signaling about the recovery? A: Since the recent Mid-may highs, both 10y

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Job postings unaffected by lockdowns

July 23, 2021 - 12:30 -- Admin

Callam Pickering, economist at global jobs site Indeed, has released new data showing that, as of last Friday, Sydney’s and Melbourne’s lockdowns had minimal impact on Job Postings; although Pickering expects the situation to change as lockdowns drag on: As of last Friday, there has been minimal impact on job postings from the lockdowns in

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Positive signs as UK COVID cases fall after ‘Freedom Day’

July 23, 2021 - 12:00 -- Admin

If there is one place in the world at the moment that you should be watching it is the UK. It has the world’s highest full COVID vaccination rate: And on Monday the UK declared ‘Freedom Day’, which lifted remaining COVID restrictions, including: face masks no longer legally required; work-from-home guidance ended; social distancing rules

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Forget record low rates, younger generations pay most for housing

July 23, 2021 - 11:30 -- Admin

Think Tank Per Capita has released a new discussion paper entitled “Generation Stressed”, which shows that Australian households have experienced “a significant increase in the lifetime expenditure on the median mortgage” over the generations, specifically: “For a Silent Generation family buying in 1970, the average repayment cost over the course of the mortgage was 11.2%

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NSW records new high 136 COVID cases

July 23, 2021 - 11:23 -- Admin

NSW Health has reported another 136 local COVID cases over the past 24 hours: NSW recorded 136 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. pic.twitter.com/WsMXKvQOY0 — NSW Health (@NSWHealth) July 23, 2021 Of these locally acquired cases, 77 are linked to a known case or cluster – 65

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