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Articles from MacroBusiness

Westpac: COVID disruptions to temper property boom

July 30, 2021 - 13:30 -- Admin

Westpac has released its Red Book, which notes that COVID disruptions “are set to take some heat out of [housing] markets in coming months”. However, the acute shortage of stock should still deliver strong price growth over the second half, which will fade into 2022: Housing markets have continued to boom through the first half

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What is the ‘cost’ of an Olympic gold medal

July 30, 2021 - 13:00 -- Admin

This week’s Deloitte’s economic briefing has taken a different path, looking at the ‘cost’ of an Olympic gold medal and how Australia compares: Australia has been punching above its weight on this front [gold medals] for some time, and certainly since the success at the Sydney Olympics, where investments in Australian sport beginning in the

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Australian mortgage growth launches

July 30, 2021 - 12:30 -- Admin

The Reserve Bank of Australia (RBA) has released its private sector credit aggregates data for the month of June. Quarterly mortgage credit growth continued to firm, rising for the 11th consecutive month to 1.8% – the highest rate of growth since 2015: Owner-occupiers continue to drive mortgage growth, rising by 2.2% over the quarter versus

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Australian dollar fatally linked to China

July 30, 2021 - 12:00 -- Admin

MUFG with a solid take on AUD: USD continues to correct lower as Fed fails to deliver another hawkish surprise29thJuly2021USD: Gradual QE taper plans encourage further correction lower for USD The US dollar has continued to correct lower following last night’s FOMC meeting with the dollar index falling further below the intra-day high of 93.191

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China “uninvestable”

July 30, 2021 - 11:40 -- Admin

Throughout Australia’s five-year China divorce, one the of most interesting features of relationship breakdown is how much of it is led by Beijing. CCP structural constriction, paranoia and arrogance are its own worst enemy, consistently leading to glass-jawed overreactions, withdrawal from engagement and cancelled deals. Now the world is witnessing the same phenomenon in China

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ASX and iron ore tremble

July 30, 2021 - 11:31 -- Admin

The Australian dollar is backing away from its charge 74 cents this morning: Bonds are bidly: XJO ripped out of the gate but has gotten the shakes since: Part of the problem is sagging US futures thanks to lousy Amazon guidance but there is also this: Big Iron is doing its best to ignore it:

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Big bank specufestor mortgages still contained

July 30, 2021 - 11:20 -- Admin

If macropriudential moves were not already fading on the interminable Sydney Delta outbreak, today’s APRA data pushes it further from sight. The big eight banks lifted specufestor lending to 0.3% monthly for June (with CBA having its own little party): And still only 1.1% year on year: Then there’s Mad Macquarie as usual: Big eight

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NSW records 170 new COVID infections

July 30, 2021 - 11:17 -- Admin

NSW Health has reported another 170 new COVID infections over the past 24 hours: NSW recorded 170 new locally acquired cases of COVID-19 in the 24 hours to 8pm last night. 77 are linked to a known case or cluster – 61 are household contacts and 16 are close contacts – and the source of

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ACCC’s Rod Sims lashes privatisations (again)

July 30, 2021 - 11:00 -- Admin

Over many years, Australian Competition and Consumer Commission (ACCC) head, Rod Sims, has issued a spate of warnings about, and voiced opposition to, various asset privatisations being undertaken by governments across the nation. In particular, Sims accused state and federal governments of using privatisation to increase taxes by stealth by selling public assets and businesses

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Grattan: 80% vaccination rate required to end lockdowns

July 30, 2021 - 10:40 -- Admin

The Grattan Institute believes Australia needs an 80% vaccination rate to end lockdowns, and believes we can get there by the end of the year: Australia’s ‘Zero COVID’ strategy has allowed us to escape the worst of the pandemic so far: our death toll has been among the world’s lowest, our recession among the shortest,

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