Miscellaneous

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Political stoush brews over ACT’s marijuana legalisation

Last month, the ACT Legislative Assembly passed laws legalising the recreational use of marijuana, which will allow residents aged over 18 to possess up to 50 grams and grow two plants from next year. This has garnered a strong backlash from the federal government, which labelled the legislation “dangerous” and has threatened to block the

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A night at the charts – 14 October 2019

a little something for the evening banter…..   Australia major projects pipeline   Interbank Market Stress Australia – who likes to drive further   Tax Havens and revenues foregone     Household liabilities and GDP     US Overnight Repo rate     External debt to China   Hong Kong migration destinations     China

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Links 14 October 2019

Global Macro / Markets / Investing: World’s Biggest Pork Producer Warns of Bacon Shortage – Bloomberg QE on the QT? Fed says no, economists say maybe so – Reuters Here’s how the Fed’s balance sheet expansion that’s got the market excited is going to work – CNBC Oil jumped back above $60 a barrel after

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Morrison Government told to lay-off ACT’s pot laws

After the ACT Legislative Assembly last week passed laws legalising the recreational use of marijuana from 31 January, Home Affairs Minister Peter Dutton labelled the legislation “dangerous” and threatened to block the laws, as did Federal Attorney-General Christian Porter. However, constitutional law expert George Williams says that while the Coalition has special powers to override

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Daft Dutton threatens to block ACT’s “dangerous” marijuana legalisation

On Wednesday, the ACT Legislative Assembly passed laws legalising the recreational use of marijuana, which will allow residents aged over 18 to possess up to 50 grams and grow two plants from next year. However, this has garnered a strong rebuke from Home Affairs Minister, Peter Dutton, who has labelled the legislation “dangerous” and has

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Macro Afternoon

A generally positive day across Asian risk markets with a good response to the latest Federal Reserve cut, as the USD continued its gains against most of the majors. The Australian dollar tanked on the rise in unemployment which buoyed the local stock market, and this afternoon the BOJ held to its course, sending Yen

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Macro Morning

By Chris Becker  Markets are being pushed around by central bank speculation and a calming of the nerves surrounding the Saudi oil supply crunch with a surprise build in oil inventory cutting the recent gap higher in half for both WTI and Brent crude prices. The USD fell back against the majors with the Euro

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Migration Council chief slams criminalsing wage theft

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

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MB Fund Podcast – Ethical Investment Essentials LIVE TODAY

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

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Chinese PMIs still weak

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

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Auction clearance recovery continues

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

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Weekend Links: 29-30 June 2019

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

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Straya free falls down global livability index

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

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Choice calls for Health Star Ratings overhaul

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.

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MB Fund podcast: What next for the RBA?

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

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Government to save Aussie GDP again

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

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Meet the new anti-EU EU Parliament

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

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How will Foxtel survive after Game of Thrones finale?

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

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UBS: RBA “way too bullish”

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

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Easter Chartfest 20 April, 2019

  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  

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Macro Morning

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

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Weekend Links, 30-31 March, 2019

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 –

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On Christchurch

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

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MacroBusiness Chartfest 9-10 March, 2019

      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

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Macro Morning

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