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Articles from MacroBusiness

Steve Bannon on the Chinese world vision

November 5, 2018 - 09:15 -- Admin

Must view stuff from Real Vision as Steve Bannon unloads on China. Another undisclosed airplane hangar, another epic interview. We’re bringing you our next installment on Real Vision’s #BigNameSeason! Watch the full interview with @jkylebass & Stephen K. Bannon now: https://t.co/JfDASsQqlj pic.twitter.com/Ez49y92r28 — Real Vision (@realvision) November 2, 2018 The reason China has stayed organized

Credit crunch slams into services PMI

November 5, 2018 - 08:30 -- Admin

Ruh roh: By sector: Business-oriented services sectors: The Australian PSI® indicated expansion in two of the five business-oriented sectors in October (trend). Business & property services reported good demand from infrastructure construction projects and communications services also reported positive conditions. Less positively, businesses in the finance & insurance and transport & storage sectors reported contractions

Macro Morning (Trading Week)

November 5, 2018 - 08:00 -- Admin

By Chris Becker  A very strong non-farm payroll (NFP) report on US unemployment on Friday night did not help the nascent recovery on equity markets. US markets fell around 1% after gaining more than that on almost every session during the week, with the USD reversing what had been a steep selloff against the major

The post Macro Morning (Trading Week) appeared first on MacroBusiness.

Louis Christopher: Property prices are crashing

November 5, 2018 - 00:20 -- Admin

From the Black Dragon’s Twitter feed: Sydney auction results today: 44.0% preliminary clearance rate. Unreported rate was 21.6% (643 listed, 504 reported). Est final clearance rate is 38% to 41%. Last wk revised to 43.0% yet 12% still unreported. Our final last wkd est = 40.6%. This wk in 2017 CL = 58.0% 2016 =

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Pollies are the symptom of Australian decline, not the cause

November 5, 2018 - 00:20 -- Admin

I like John Kehoe. He is media talent. But he was wrong over the weekend: It’s a sign that Australia’s international brand is at risk of being damaged. …In an environment of constantly changing leaders and treasurers, it is difficult to have good policy continuity. Thankfully some Australian institutions have helped keep the train on

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To save the furniture, ScoMo must cut immigration

November 5, 2018 - 00:15 -- Admin

It’s blindingly obvious what ScoMo should do, via Judith Sloan: At the rate the Morrison government is going, it will need only two or three second-hand Taragos to ferry around the surviving Liberal parliamentarians after the next election. For the life of me, I can’t understand why Scott Morrison doesn’t do something to avoid this outcome.

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How has the US smoothly shut 1000% more coal power than Straya?

November 5, 2018 - 00:14 -- Admin

This might be hard for you to believe. As we know, President Donald Trump does not believe in climate change. Indeed, he professes a love for coal and delivers policy in support of it. The US has trashed multilateral climate change agreements over and again while Australia has supported them. To the Fake Left the

The post How has the US smoothly shut 1000% more coal power than Straya? appeared first on MacroBusiness.

Auction clearances crash into the low-40s

November 5, 2018 - 00:10 -- Admin

CoreLogic released its auction report yesterday, which reported another pathetically weak round of auctions. The preliminary national auction clearance rate was just 47.4% versus 50.2% last weekend (later revised down to 47.2%). The preliminary clearance rate was also way below the 61.5% recorded in the same weekend of last year: Auction volumes nationally were 1,529

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CSR the croaking canary as dwelling construction falls

November 5, 2018 - 00:10 -- Admin

By Leith van Onselen With Australia’s dwelling construction boom well past its peak, CSR has cut its brick output from one of its production kilns in Sydney and has cut back shifts at its Western Australian plasterboard facility. From The AFR: CSR supplies Gyprock plasterboard, PGH bricks, Hebel precast concrete blocks and panels, and Bradford

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Australian dollar goes wild on US wages boom

November 5, 2018 - 00:09 -- Admin

DXY rebounded over the weekend but not that much as CNY takes off on trade hopes. EUR fell: AUD was wild, launching then crashing: Gold held up: Oil didn’t: Base metals were solid: Big miners eased: EM stocks flamed out: Junk was solid: Treasuries were belted: Bunds bought: Stocks were mixed: US jobs are still

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