Unless you are a pellet of iron ore then listen up. Via the AFR: Foreign Minister Marise Payne said Australians should not travel to China as they face the risk of arbitrary detention, after two Australian journalists were rushed out of Shanghai on Monday night in a secretive operation following a tense five-day stand-off with
Via Stat: A large, Phase 3 study testing a Covid-19 vaccine being developed by AstraZeneca and the University of Oxford at dozens of sites across the U.S. has been put on hold due to a suspected serious adverse reaction in a participant in the United Kingdom. A spokesperson for AstraZeneca, a front-runner in the race for a
DXY is off the lows and EUR falling: The Australian dollar was smashed: Gold was buffeted buy held: The oil canary croaked: Metals were hit: And miners: EM stocks are now gapping lower: US junk has rolled but EM will be the final confirmation of a serious correction to fakeflation: US yields fell: Stocks were
Via Domain: With the bank forecasting house price falls of up to 15 per cent, Mr Hand was asked if this meant ANZ would limit loan-to-valuation ratios (LVRs) in Melbourne. Mr Hand responded that the 15 per cent fall forecast was a “worst case scenario” but it would impose LVR limits on some postcodes, and
Brian Johnson at Jefferies has not minced words: On 20 July, we published Peking Duck and Beijing Beef detailing the rising frictions between Australia and China and some ASX200 implications emanating therefrom. The situation continues to deteriorate. Australia’s economic prospects are inextricably linked to China, given inbound Chinese immigration has been a strong contributor to
Nothing to see here: University of Sydney vice-chancellor Michael Spence said he was baffled by a recent federal government probe into his university’s Confucius Institute, while giving evidence at the NSW government inquiry into the future of the state’s tertiary education sector on Monday. …Mr Latham said Australian universities had been forced to respond to
From Kevin07 today: Scott Morrison – even in the era of Donald Trump – will also be yearning desperately for a Republican victory come November. But this time it is the conservative recalcitrance on a very different issue that risks Australia being isolated on the world stage: climate change. And as the next summer approaches,
Not much fun at the ABS for jobs. Slightly better job numbers and wages on the week but still terrible from March: Demographics: Sectoral splits: A tiny improvement on the week but the big question remains: how far below March is the new baseline for wages? Put another way, how large is the permanent income
Via Calculated Risk: It is possible to consider the impact of the pandemic on employment as being similar to a large number of simultaneous worker strikes, and a concurrent severe recession. When a strike happens, a large number of jobs are immediately lost. And then, when the strike is settled, the jobs are added back to
The NAB business survey for September is out and it is a snapshot of complete ponzi-unwind. The headline numbers are terrible: And it is not just VIC: Employment and wages are a catastrophe: And note construction is the worst as a mass immigration stall lands on housing plus Idiotberg lets public investment crater. Forward indicators
Via The Fake Left: A low-paid Australian worker laid off during the pandemic will receive the third lowest unemployment benefit in the OECD when the coronavirus supplement is reduced, according to expert analysis. Despite mass unemployment and an extended stage-four lockdown in Melbourne, the federal government plans to push ahead with a $300 cut to
Via New Daily: Emergency measures to prevent a wave of pandemic business failures have been extended until the end of the year, fuelling fears over so-called zombie firms. The measures, which among other things allow firms to keep trading while insolvent, were due to end on September 25. But Treasurer Josh Frydenberg on Monday extended
It’s looking more like US presidential betting markets are today tied up with stock market liquidity: As said last week, I wonder if there is some relationship between stock market gains and those plumping for Trump, beyond simple sentiment. The polls are still strongly blue: Though Trump has gained in swing states: I still
So says Domain: Australia could build its way out of the deepest recession since the 1930s through a $220 billion pipeline of infrastructure projects that would transform the nation, deliver jobs and sharply increase the nation’s long-term productivity. The projects, on top of the government’s existing $100 billion infrastructure plan over 10 years, could be
The solid rebound in ANZ Australian Job Ads in June and July – which saw more than half the pandemic losses recovered – did not continue into August, with just a 1.6% m/m rise. Victorian restrictions have undoubtedly put the brakes on. #ausecon #employment @cfbirch pic.twitter.com/tLLJLTPv63 — ANZ_Research (@ANZ_Research) September 7, 2020
Iron ore prices for September 7, 2020: Spot still strong. Paper too. China imported 100.4mt of iron ore in August: I still think we’re roughly at peak imports. Steel exports were buggered, as you’d expect: Empty apartment sales are softening: To wit: China Evergrande Group kicked off a nationwide sales promotion with its deepest ever
Sensible enough: #BREAKING Two Australian journalists have just landed in Sydney after being pulled out of China by their news organisations, on fears they were no longer safe. The two are Bill Birtles from the ABC and Michael Smith from the Australian Financial Review. @9NewsAUS #auspol — Chris Uhlmann (@CUhlmann) September 7, 2020 Hostage diplomacy
Early in the New Year, I declared a calamity lay ahead: I am not going to sugarcoat this. There is enough of that in the mind control property media to make a freedom-loving liberal chunder. Australia faces calamity. The formulation of the gathering catastrophe is simple. Coronavirus is loose in China. The Chinese Communist Party
From CoreLogic weekly property indicators, the leading mortgage index has entered some kind of zombie state: Materially down on last year and far down on previous. Remember that this is owner-occupiers only and investor mortgage are far worse. Listings are still providing some market support: But it is artificial given the huge fall in
Via Michael Sainsbury at Crikey: Australia’s troubled international student market is beginning to take shape for 2021 and, whichever way you look at it, it’s disastrous. Just six short months ago, this sector was worth a bulked up $35 billion — about two-thirds of which is tuition. Now, industry insiders say that globally the market
I’ve been thinking about giving the new Melbourne wave pool a crack when it reopens. I used to be pretty good. See what I did yesterday? Not. @gregorymckenna As that your son? Geez, dude. He has some big ones. https://t.co/LLWHnFb5Rk — Gregor Samsa (@macromon) September 6, 2020
Via the AFR: On the afternoon of August 27, noted Quentin Tarantino fan and Dixon Advisory scion Alan Dixon dumped every single share he held in the troubled amalgam of Evans & Partners and Dixon Advisory he helped float only two years ago. By the morning of September 4, ASIC filed notice it was commencing
Via the AFR: Mr Comyn told a parliamentary committee the pay-in-four instalment model pioneered by Afterpay would trigger more competition, after US giant PayPal entered the market last week, sinking share prices across the high-flying ASX sector. …”I see the potential for [instalment] offerings to be competed away, or to evolve,” he said. Queensland Liberal
At The Fake Left no less: “No one is immune these days from arrest in China – tycoons, celebrities, journalists, the former head of Interpol – many people, both foreigners and locals, have disappeared into the Chinese justice system without clear explanations why,” Elaine Pearson, the head of Human Rights Watch Australia told Guardian Australia
MB has been unearthing the practice of misrepresenting realtors and friends as objective sources for many years. Now this: Dear readers, At Domain, we strive to be the trusted voice on property. We have always been proud of our editorial heritage and the standards we set out to meet in each article we publish. Unfortunately,
One has to be careful to sift what comes out of ZeroHedge. If it is taken literally then we’d all have dropped into caves long ago. But sometimes it does provide fantastic insights into market dynamics. Such as today with this cross-posted gem: It was back in July when we first reported that Goldman had observed a
Via Banking Day: Large businesses and government enterprises will have to report on payment terms for their small business suppliers, following passage of the Payment Times Reporting Bill 2020 in the Senate last week. The Payment Times Reporting Scheme will apply to any business or government enterprise with annual income of A$100 million or more.
I guess having the Newspoll at 50/50 makes Labor fell like it is in with a shot at the next election. So it keeps pumping out this vestigial rubbish, via Ross Gittins today: There must be times in Australia’s history when people look at the nation’s economic experts and wonder if they have any idea
Fresh from shilling for the CCP, Gottiboff is back with more confected outrage in an attempt to bury last week’s: The state of Victoria is in grave danger of making its third catastrophic mistake in dealing with COVID-19. The first two mistakes have left the state in a perilous position, with widespread employment destruction and
At The Australia Institute today: The benefits of bringing forward the income tax cuts would mainly go to high-income taxpayers who are more likely to save the extra money or pay down debt. Almost none of the tax cuts would go to low-income taxpayers who are more likely to spend it in their local community.
