10 things you need to know this morning in Australia

The future of Bitcoin… or Sydney’s housing market? Picture: CrashRacing/YouTube

Good morning.

1. Global stocks dipped again, a bit, courtesy mainly of a selloff in oil and metals, and the US dollar slid as doubts linger about the possibility of Trump’s tax bill actually getting greenlit. The 2-10 yield spread on bonds is still narrowing. Gold surged, Bitcoin passed the $US8,000 mark and the Aussie briefly pushed back above US76 cents on Friday night.

2. The data is slowing down because, hey, Santa is only 30 days away. But a season for not doing any business, there is no such thing, so pay attention on Tuesday to the minutes from the RBA’s meeting. Governor Philip Lowe will follow that up with a speech in Sydney about “Some Evolving Questions”. We’ll also get the minutes from the ECB’s October meeting that may have extra details around the exit strategy for QE. And in the UK on Wednesday, the budget will be handed down. For all the rest, check Sam Jacobs’ diary.

3. Sydney’s auction clearance rate nosedived, almost a full three points lower than last week’s preliminary clearance rate of 64.4%. If it follows trend, Thursday’s amended rate will have it down around 55%. And 55% is a bit of a magic mark, according to AMP’s Capital chief economist Shane Oliver’s chart:

And Melbourne is starting to fall hard as well.

4. Malcolm Young died. He was kind of a big deal in the rock world:

He was, of course, an AC/DC founder and one of the greatest rock guitarists of all-time.

5. Define terrifying? How about “stuck at the bottom of the ocean 430km off the southern tip of South America in a tin can with 43 crewmates”? Argentinian Navy sub the ARA San Juan disappeared Wednesday, but satellite signals show it tried to ring home seven times on Sunday. The US and NASA have joined in the search to pinpoint the pings.

6. This is also terrifying:

If you watch it to the end, you’ll realise it’s just a very slick warning and the Justin Hammer guy isn’t a real businessman. But real academics and AI experts were involved in its production, and they’re genuinely worried about how close to reality it now is.

7. In the not-too-distant future, we’ll let plants take over our buildings, so we can eat them. Here’s what office life will be like inside the “Plantagon”, a $US40 million tower that’s half a farm run by robots nearing completion in Linköping, Sweden.

8. This is also what happens when we let plants take over our buildings:

For various reasons, North Brother Island – just a short boat trip from New York City’s South Bronx – has been abandoned since 1963. Dave Mosher took a rare tour of the 22-acre island, hidden in the middle one of the priciest and most densely populated places on Earth, waiting for a makeover. This is what the end of the world will look like.

9. Elon Musk, who hates to be compared to Steve Jobs, pulled off the greatest “one more thing” in tech history, by rolling a new Roadster out of the back of Tesla’s new big rigs. They were both beautiful – Tesla’s trademark – so here’s the secret to how Musk gets his cars to look so good. And this is why Tesla’s grand plans seem like a bad idea, but it’s likely to defy the naysayers yet again.

10. Want to be rich when you’re all growed up? Then don’t study any of these 10 things at university.

BONUS ITEM: Don’t change, Bob Katter. Unless it’s suddenly, psychotically, to talk about crocs:

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