Blogotariat

Forex markets reversed last night as DXY eased but AUD fell. EUR was stable: The Australian dollar was weak across the board: Oil and gold firmed: But base metals struggled. Copper has formed a bearish descending triangle pattern. I expect it to follow iron ore in due course: Miners tried: EM stocks too: And junk

The post Australian dollar whacked as markets dead cat bounce appeared first on MacroBusiness.

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Cleaning out my notebook yesterday and came across this old LA Times bit about Big ‘L’ literature guy Ian McEwan helping his kid write a high school essay on a book by… Ian McEwan.

"Compelled to read his dad’s book — imagine. Poor guy," McEwan said. "I confess I did give him a tutorial and told him what he should consider."

repute

Media organisations, including News Corporation and Nine Newspapers, have been blocked from publishing any of the ABC's un-redacted defence in its defamation battle with former federal attorney-general Christian Porter.

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Ex-RBA head of research turned chief economist at the Centre for Independent Studies, Peter Tulip, has provided a submission to the House of Representatives Standing Committee on Tax and Revenue’s inquiry into Housing Affordability and Supply, which admits that the massive increase in immigration from 2005 caused the nation’s purported housing shortage and helped make

The post Professor Tulip: Immigration drove nation’s housing shortage appeared first on MacroBusiness.

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It just keeps getting worse for the ferrous complex. China now has a steel glut. Levels are higher than this time last year which is very high: But steel output is well below 2020: So the inventory to sales ratio is climbing fast despite all of the output cuts. Just as bad, iron ore inventory

The post Daily iron ore price update (My god, China now has a steel glut) appeared first on MacroBusiness.

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Macro & Markets Global energy shortage looms as investment in fossil fuels slides – Nikkei Asia US-China tensions tug at Pacific internet cables – Asia Times The global economy could feel the effects of China’s Evergrande crisis. Here’s what investors should know – CNBC China Evergrande fears grip markets as Beijing stands back, for now

The post Links 22 September 2021 appeared first on MacroBusiness.

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Now that ‘Back In Black’ has transformed into ‘I See Red’ Australia is waking up to the fact that after years of Coalition mismanagement ‘The Honeymoon Is Over’.

Although many of us would like to think so, elections are not won from the left or the right, they are won from the centre. At the end of election day, it is the swinging voters that will decide the immediate future direction of the country.

And so it went in 2013 when as a nation we were afflicted with this Coalition government.

Let us look at the extraordinary non-covid changes now happening in China. The country has been reforming rapidly the last 20 months and I want to muse about the trajectory these reforms are setting China upon. Many commentators see in them the start of another Cultural Revolution in China that will end up with millions dead and huge disruption.

The media is again full of chatter about the housing affordability crisis in Australia. Property markets have gone on a tear as mortgage rates bottom at levels close to matching inflation. Governments are subsidising  a building boom to save the economy from COVID, and the resulting collapse in immigration.

The post Working Together: Is Shared Equity our pathway out of the housing crisis? first appeared on Prosper Australia.

Two well known economists have given opposing views on the likely economic recovery once lockdowns in Sydney and Melbourne eventually end. Saul Eslake believes that the economic recovery will be swift: Independent economist Saul Eslake told The Age and The Sydney Morning Herald that Victoria and NSW were in recession but the states’ economies were

The post Don’t expect a swift economic recovery this time around appeared first on MacroBusiness.

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Angus Taylor's Coalkeeper subsidy is dead in the water. Or at least it should be. Here are six better ideas that state energy ministers should consider.