Good news from Domain: Prime Minister Scott Morrison has put employers on notice that those who exploit workers may soon face criminal penalties, after a company whose directors include celebrity chef George Calombaris was fined for underpaying staff $7.8 million. “Right now, the Attorney-General is drafting laws to deal with criminalising worker exploitation,” Mr Morrison
by Chris Becker Bitcoin is on a tear during the Asian session, following a breakout last night above the previous week’s resistance level at $12000USD and now on target to get back to the June high nearer $14000: What set this all off when other undollar assets like gold and the Australian dollar are falling
This week’s LIVE webinar (12:30pm AEST, Thursday 4th July) – we explain all things ethical investment. An update on some big changes in company portfolios (such as Woolworths) Defining ethics in investment What does investing ethically mean to a portfolio’s performance? What are the options ? What are the pitfalls? How we help investors invest according
From China’s NBS over the weekend: The manufacturing purchasing managers’ index was unchanged from the previous month. In June , the manufacturing PMI was 49.4% , and the manufacturing boom was the same as last month. The main features of this month: First, the overall expansion of production, industrial transformation and upgrading continue to advance. The production index was 51.3% , although it fell 0.4 percentage
Via CoreLogic: Over 60 per cent of capital city homes sell at auction for the 3rd consecutive week There were 1,292 capital city homes taken to auction over the final week of June, returning a preliminary auction clearance rate above 60 per cent for the third consecutive week (66.5 per cent). Last week, a higher
Victor Rubin, Ward 369: An indicative cage, 1987, Art Gallery of NSW Global Macro Western liberalism is obsolete, warns Putin, ahead of May meeting – Guardian G20: Europe tells US and China their trade war is harming global economy – SCMP G20 Osaka: as China, India and Russia draw close, has Trump overplayed his
Tell us something we don’t know. Via the Futurebrand Country Index at News: “Historically countries always measured by GDP but we live in a complex world where there a range of issues from healthcare to education, gun rights to the environment, so to measure a country by alone GDP is too narrow.” The top five
Over recent years, I have called for an overhaul of Australia’s dietary guidelines, including Australia’s Health Star Rating System, which has too often ignored the prevalence of sugar while demonising natural saturated fats. I have also criticised Australian dieticians’ staunch defence of existing failed dietary guidelines that promote a high carbohydrate / low fat diet.
This week’s LIVE webinar (12:30pm AEST, Thursday 6th June) – Australia’s Reserve Bank has capitulated on its eternal economic optimism with the first rate cut in years just as the US Fed turns dovish in the face of Trumps trade war. How many cuts in the cash rate are ahead? What happens when it runs out of
The private sector is done for but all praise the gubmint, via Damien Boey at Credit Suisse: We now have all the partials we can get to “now-cast” 1Q real GDP. Today we received trade and government spending data, which on balance surprised to the upside: Net exports were as expected, contributing 0.2% to quarterly
Says it all really: EU28: Ladies and gentlemen, the new European Parliament! Details: https://t.co/JaP0MTYOBR (based on the results of the BBC, the European Parliament website, and based on our research of the future group affiliation of “new” parties entering the European Parliament). #EP2019 pic.twitter.com/WSMfdSRkuB — Europe Elects (@EuropeElects) May 27, 2019
By Leith van Onselen Roy Morgan’s latest survey on Pay TV Subscription services revealed that Netflix had lifted its Australian subscriber base to 11.3 million households after a 25% annual surge in subscribers. By contrast, Foxtel’s subscriber base slid by 2.7% to 4.9 million households: With Game of Thrones airing its final episode yesterday, to which
UBS is all over the RBA with several hard hitting notes overnight: UBS…doesn’t think their forecasts for GDP and inflation are plausible – they seem way too bullish. …For Australia, despite Q4 surprisingly weak GDP, & further weakness in Q1/Q2 partials, they still expect “around 2¾% in 2019 and 2020” – very optimistically unrevised from
Australia Electricity Spot Prices 16 April, 2019 How much do Australians earn Average kilometres travelled by State Capacity utilisation & underemployment Thermal Coal Exports Australian Commodity Exports Australian Pay Outcomes – Federal Enterprise Agreements Australian Household Consumption – Discretionary & Essential Australian Iron Ore Exports
By Chris Becker Another mixed session on stocks overnight with European bourses advancing again while Wall Street stalled due to a drop in health care stocks from the “Mediscare for all” and a slump in oil prices. The USD firmed slightly against the undollars, particularly gold which made another new daily low while CPI prints
The great rock: dusk, Lloyd Rees, 1977, Art Gallery of NSW Macro, Markets & Investing U.S., China resume trade talks in Beijing after ‘productive working dinner’ – Reuters US economic adviser hints at partial lifting of China tariffs – Nikkei Asian Review Brazil’s Vale slashes iron ore sales estimate after dam burst –
By Leith van Onselen Roy Morgan Research has revealed that Netflix had lifted its Australian subscriber base to 11.3 million households after a 25% annual surge in subscribers. By contrast, Foxtel’s subscriber base slid by 2.7% to 4.9 million households: With Foxtel losing its monopoly grip on the pay TV space, it has pivoted desperately to
Below find a useful wrap of Christchurch related material from Crikey: SHOOTER EMAILED ‘MANIFESTO’ New Zealand Prime Minister Jacinda Ardern has confirmed her office was one of more than 30 to receive a so-called “manifesto” from the accused Christchurch terrorist just minutes before Friday’s mosque attacks. The ABC reports that Ardern will today meet with New Zealand cabinet
Australia & New Zealand Australia – Average Ages, Selected Jobs Australia – Job Security ANZ Job Advertisements Australia – Federal Budget Cash Balance Australia – Public Demand & GDP Australia – Capex Australia
By Chris Becker It was all about the USD overnight with the release of 4Q GDP figures and the latest CPI print from Europe, with the former sending Treasury yields higher and the latter jostling Euro around but giving European stocks a reprieve from impending recession fears sending them higher. Looking first at the action
AUSTRALIA 5 Eyes Part Time Employment Australia CPI Housing Wealth and Consumption Residential Rents NSW & Vic, wages & unemployment Australian coal export destinations Australian Commodity Exports Australian House Prices Australian Housing Finance Australian Renewable Energy Australian Services & Manufacturing Australian Short Term Arrivals
Willunga Landscape, Horace Trenerry, 1947, Art Gallery of NSW Macro & Markets Hedge Funds Play Tug-of-War With the Volatile Australian Dollar – Bloomberg One Weird Trick for Avoiding Bad Chinese Bonds – Bloomberg Brazilian mine tragedy will not be the last tailings dam disaster – Reuters, Home China’s coal imports surge, but prices tell
Jitterbugs, 1945, Weaver Hawkins, Art Gallery of NSW Markets Macro & Investing The Sorry State of the World Economy – Project-Syndicate, Basu Trump hails China trade talks progress and says he will meet Xi Jinping soon – Guardian China says Washington trade talks were ‘frank’ and made ‘important progress’ – SCMP Donald Trump hails
The ABS is out with Dec QTR CPI and it’s still weak: The headline was slightly above consensus so markets got excited but analytical series are all about as scary as facing Phil Lowe in a fist fight. And they are going to weaken from here. Nothing here to prevent a dovish shift in the
It’s the economic model that keeps on giving, via Domain: Concentration of our populations in major cities and increased international air travel are creating conditions ripe for pandemics to spread faster and infect more people, according to new research from the University of Sydney. …“You have airports getting a lot more traffic – in Adelaide,
Short man with two dogs, Linda Marrinon, 1990, Art Gallery of NSW Americas Trump Pulls U.S. Delegation Out of Davos Forum, Citing Shutdown – Bloomberg Shutdown clouds outlook for consumer-driven U.S. economic growth – Reuters Chinese ambassador Lu Shaye warns ‘back-stabbing’ Canada to stop rallying allies in row over detainees – SCMP Trump Vows
By Leith van Onselen In 2017, Labor leader Bill Shorten outlined a plan to tax trusts at 30% that would raise $17.2 billion over 10 years. Shorten said the extra revenue could be used to fund services such as education and health, while he stressed that the 30% tax plan would not be applied to
Sunset in a Subduction Zone, James Gleeson, 1986, Art Gallery of NSW Macro & Markets Trump Hails ‘Big Progress’ Towards China Trade Deal – Bloomberg El-Erian, Like Trump, Says Fed Would Benefit From ‘Better Feel’ – Bloomberg Chinese and US tech giants face growing political risks – Nikkei Asian Review Life Is Getting Harder
The Wasteland II, Jeffrey Smart, 1945, Art Gallery of NSW Macro & Markets Not just China: why the global economy needs Beijing’s stimulus measures to boost growth – SCMP China says has made plans with U.S. for face-to-face trade meeting in January – Reuters This is not a time for investors to think long
Heat Haze, Dorrit Black, 1919, Art Gallery of NSW Macro & Markets Oil plunges 6 percent as economic slowdown fears grip market – Reuters Dollar Exposed to Dysfunction and Paralysis in Washington – Bloomberg ‘The worst is yet to come’: Experts say a global bear market is just getting started – CNBC Americas
