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Macro Afternoon

June 11, 2021 - 16:30 -- Admin

A fairly mixed end to the trading week here in Asia following last night’s US inflation print and the latest ECB meeting which embiggened US stocks to new highs but hasn’t quite translated into firm moves across other stock markets so far. The USD is losing ground against all of the majors, but particularly Euro

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Aussie university vice chancellors still grossly overpaid

June 11, 2021 - 14:30 -- Admin

Despite the cut in international students, salaries of university vice-chancellors remain bloated, according to new analysis by Fairfax: Unbelievably, some vice chancellors scored pay rises in 2020 at the same time as revenues tanked, rank and file staff were retrenched or had their wages stolen, and students were pushed into sub-standard online teaching. As shown

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ACCI contradicts itself on Aussie labour market

June 11, 2021 - 14:00 -- Admin

You have got to love the contradictory statements coming from the Australian Chamber of Commerce and Industry (ACCI), which continues to talk with a forked tongue on the labour market. The ACCI recently sent a submission to the Morrison Government’s migration program review whereby it demanded easier access to foreign workers to ameliorate purported crippling

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CBA: Labour market strengthened again in May

June 11, 2021 - 13:30 -- Admin

By Gareth Aird, head of Australian economics at CBA. Key Points Wages and salaries paid into CBA bank accounts lifted over May which points to growth in employment and hours worked in the month. The number of CBA customers receiving the JobSeeker payment continued to decline over May which indicates unemployment fell over the month.

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‘Terrifying’ creaking haunts Melbourne high-rise residents

June 11, 2021 - 13:00 -- Admin

Seriously, who would want to own a high-rise apartment? Over recent years, hundreds of buildings have been forced to remove dangerous flammable cladding at the cost of millions. Multiple apartment towers have also been plagued by building faults, costing owners thousands in rectification costs. In 2019, Four Corners aired a segment entitled Cracking Up, where

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CoreLogic: Risky mortgage lending on the rise

June 11, 2021 - 12:30 -- Admin

CoreLogic has released new data showing the increasing risk profile of Australian mortgage lending as investors have flooded back into the market. While the percentage of high loan-to-value ratio (LVR) lending fell over the March quarter to 10.4% from 11.3% – likely reflecting the reduction in first home buyers active in the market: The percentage

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New home sales crash to earth after HomeBuilder

June 11, 2021 - 12:00 -- Admin

The unprecedented boom in new home sales has ended following the expiry of the Morrison Government’s HomeBuilder subsidy at the end of March. According to new data released by the Housing Industry Association (HIA), new home sales have roughly halved from March and are tracking way below the December peak (when HomeBuilder subsidies were initially

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Station those new US marines in the Pilbara

June 11, 2021 - 11:40 -- Admin

Australia’s magnificent strategic realignment continues at pace today. As Cold War 2.0 heats up, and Australia sharpens up as the US-led liberal bloc “tip of the spear”, more US marines are hopefully coming Downunder: More US marines may be headed for station in Australia. The joint brigade would be based in Darwin. US naval ships

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Shock horror! Workers pay for superannuation increase

June 11, 2021 - 11:20 -- Admin

Has the ABC been living under a rock? Last night The Business reported in disbelief that many Australian workers will have their take home pay cut when the superannuation guarantee (SG) is lifted from 9.5% to 10% on 1 July: Employment lawyers say if an employee’s contract says their super is included in their total

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ANZ delivers double rate hike for fixed mortgages

June 11, 2021 - 11:00 -- Admin

Goodbye TFF, goodbye rock bottom mortgages. ANZ just double-hiked its fixed-rate mortgages on the four year to 2.49% and five year to 2.69% The discounted variable is at 1.94%. This process will continue for months yet as banks are forced to refinance into more expensive wholesale debt as the RBA ends its Term Funding Facility

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