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Articles from MacroBusiness

Morrison Government corruption knows no bounds

September 17, 2021 - 12:30 -- Admin

Michael Pascoe has done a terrific job exposing the widespread corruption flowing through the Morrison Government’s veins: There’s pork barrelling, then rorting, then corruption and bare-faced corruption, and now a new low: Inviting the public to rejoice in looting. In just half a week, the Morrison government has managed to plumb two new lows. Most

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Proof COVID vaccines work

September 17, 2021 - 12:00 -- Admin

A recent survey of hospital ICU admissions in the United States showed that the overwhelming majority of COVID patients were unvaccinated: ABC News contacted 50 hospitals in 17 states, and asked them to share data on their ICU wards’ current COVID-19 patients, including their vaccination status. In the surveyed hospitals, ABC News found that the

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Global energy crisis calms a little

September 17, 2021 - 11:40 -- Admin

Thermal coal and LNG futures both came off overnight. The former: The latter: Oil was still strong as we await the return of hurricane shuttered US production: Beijing continues its campaign to reduce power output. After steel cuts, which have curtailed a lot of EAF production, next is cement: Several Chinese regions have imposed restrictions

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NSW records 1284 COVID cases, 12 deaths

September 17, 2021 - 11:27 -- Admin

NSW Health has recorded another 1284 locally acquired COVID cases and 12 deaths: NSW recorded 1,284 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. pic.twitter.com/dLQxxhoiBB — NSW Health (@NSWHealth) September 17, 2021 An age breakdown of the deaths are as follows: Two people in their 20s Three people in

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Credit impulse signals doom for markets

September 17, 2021 - 11:00 -- Admin

A superb note from Nordea: The credit impulse has received a lot of attention as an asset allocation variable over the past years, and as the credit impulse is now clearly weakening, we go through how to position yourself for weaker credit growth. The credit impulse variable has been widely debated as a global asset

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UBS: Sell Fortescue, RIO

September 17, 2021 - 10:45 -- Admin

And here they come. UBS on FMG: Downgrade to Sell: iron ore fundamentals deteriorating faster than expected We downgrade FMG to Sell (from Neutral), cutting our target to A$15/sh (from A$18/sh). Since peaking in July, the stock is down 34% while the iron ore price has more than halved. At spot (~$113/t) FMG still generates

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FOMO rules with property turnover at 12-year high

September 17, 2021 - 10:30 -- Admin

CoreLogic estimates there were around 598,000 house and unit sales across Australia over the year ending August 2021, which was the highest number of annual sales since 2004 and a 42% lift on the annual number of sales over the previous 12-month period: Across the states, annual home sales are substantially higher than a year

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Australia’s nuclear fallout

September 17, 2021 - 10:00 -- Admin

The FT sums up the strategic importance of the new subs deal: China’s geopolitical ambitions face a formidable new challenge after the US agreed to help Australia build at least eight nuclear-powered submarines and supply it with long-range Tomahawk missiles, regional officials and analysts said. The agreement, part of a new trilateral security partnership that

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Evergrande breaks Chinese property

September 17, 2021 - 09:30 -- Admin

Evergrande. Remember the name. Australian historians will. Yesterday it broke the Chinese property sector as its bonds were suspended: In order to ensure fair information disclosure and protect the interests of investors, after the company’s application, all existing corporate bonds of Evergrande Real Estate will be suspended for one trading day from the opening of the

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Victoria records 510 COVID cases, 1 death

September 17, 2021 - 09:10 -- Admin

Victoria has recorded 510 new COVID cases over the past 24 hours alongside one death: Reported yesterday: 510 new local cases and 1 new case acquired overseas (currently in HQ). – 43,993 vaccines administered – 55,476 test results received – Sadly, 1 person with COVID-19 has died More later: https://t.co/OCCFTAtS1P#COVID19Vic #COVID19VicData [1/2] pic.twitter.com/wUJpxXCugD — VicGovDH

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