Blogotariat

The Market Ear has the internals. Lots of stock bears cleaned out. And bulls on DXY. Look out! Chasers have been busy The huge US equity net short is gone, but we are far from a meaningful net long. Noteworthy is the fact skew has caught some bids lately as people have closed out shorts.

The post Bear market rally caput? appeared first on MacroBusiness.

The tyrant has had enough: Protests against China’s strict covid measures failed to materialize on Monday as the Chinese authorities deployed a heavy police presence in the capital and other major cities to deter a repeat of the weekend’s demonstrations. With evidence of a clampdown on the streets of Beijing, Shanghai, Hangzhou, Nanjing and elsewhere,

The post China drops jackboot on protests appeared first on MacroBusiness.

Poor risk sentiment is dominating the start of the new trading week with Wall Street putting in a quite negative session overnight on more Fed hawkishness and the developing COVID situation in China. European shares also took a hit despite falling energy prices as it heads into a worrisome winter. The USD came back hard

The post Macro Morning appeared first on MacroBusiness.

DXY is off the lows: AUD was bashed across the board: Oil too. It looks stuffed: Base metals less so but good luck with that if oil breaks: Big miners are clinging to the iron ore wild thing: EM stock rebound done? Still hope in junk: US curve inversion can’t find a shade of crimson

The post Australian dollar bashed as Fed pulls the rug appeared first on MacroBusiness.

While many people steer clear of Twitter for various reasons, some of which are due to the mainstream media’s constant whining about how it is a ‘sewer’. This is mainly because there are some people on Twitter who consume the mainstream media intently, and they are so experienced that they can spot bullshit very easily, and are not afraid to call it out, often directly to the journalists who spout the said bullshit. As so many of these journalists seem to have fragile egos they often characterise this criticism as ‘abuse’. It is female journalists and others who receive most of the real abuse.

Reserve Bank of Australia (RBA) governor, Phil Lowe, told Monday’s Senate Economics Legislation Committee in Canberra that Australia’s rents will continue to soar in 2023 on the back of strong immigration, and that this will put upward pressure on inflation: “The other supply side issue we are focused on is the supply of housing, because

The post RBA warns on rental price inflation appeared first on MacroBusiness.

By 2353NM   Prior to becoming President, Joe Biden was a US Senator for around 36 years. He is known as Amtrak Joe as he routinely took the daily 90 minute each way train trip (on the USA’s national passenger train network – Amtrak) from his home in Delaware to Washington DC to represent his state.…

The post Was Amtrak Joe derailed? appeared first on The AIM Network.

According to the Real Estate Institute of New Zealand’s (REINZ) House Price Index, New Zealand house prices have declined nearly 13% from their November 2021 peak. Corelogic property economist, Kelvin Davidson, believes the Reserve Bank’s uber aggressive monetary tightening, which has lifted the official cash rate (OCR) to 4.25%, means that house prices and sales

The post New Zealand in “serious property downturn” appeared first on MacroBusiness.

CoreLogic has released data showing explosive growth in unit rents amid strong arrivals of international students and migrants. As shown in the next chart, unit rents are tracking at more than 12% across Melbourne (13.7%), Sydney (13.4%), Brisbane (13.1%) and Adelaide (12.4%): This has come off a continued decline in the nation’s rental vacancy rate,

The post Unit rents explode as migrants pour in appeared first on MacroBusiness.

Deutsche with a handy backgrounder. The US takes a new step in the US-China chip rivalry Last week, the seventeenth meeting of the G20 summit was held in Bali, Indonesia. Although the mood between the US and China at the meeting was relatively amicable, it was only recently that the US toughened its stance on

The post Inside the US chip war on China appeared first on MacroBusiness.

The Australian Bureau of Statistics (ABS) has released retail sales figures for October, with turnover down 0.2% over the month – the first monthly decline of 2022: Commenting on the result, ABS head of retail statistics, Ben Dorber, noted that “the October fall in retail turnover ends a run of nine straight monthly rises and

The post Aussie retail sales down as interest rates bite appeared first on MacroBusiness.

The latest from BofA’s excellent Michael Hartnett. Year Ahead 2023: we stay bearish risk assets in H1, set to turn bullish H2 as narrative shifts from inflation and rate ‘shocks’ of ’22 to recession and credit ‘shocks’ in H1’23; long bonds H1…hard landing, long stocks and bonds H2…peak Fed; maintain SPX nibble at 3.6k, bite

The post Hartnett: Bonds not stocks appeared first on MacroBusiness.