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Wow what a day to be a FX trader! Bigly volatility on the Yen and crosses, with the Aussie dollar losing nearly 3 cents within a few minutes! Most currencies are nearly back to where they started, but this has had a big impact on equity markets with the catalyst being Apple’s late earnings revision

The post Macro Afternoon appeared first on MacroBusiness.

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The black cat loves me; she friggin' loves me. She's always trying to nuzzle, lick sweat off my skin or sit on me. Such as the knee. Because she loves rubbing herself against me and if she is on my knee and I am using a glass she will lurch up to rub on my arm when I raise the glass to my mouth and when my arm comes down I bounce off her and smash the glass rim into my teeth.

For anyone paying attention, one of the H&H’s excellent calls a few months ago was to get long Australian bonds as the RBA’s fantasy of future growth ran into the nasty reality of a housing and China bust. To wit, today we see bond returns jumping: Damien Boey of Credit Suisse is another bond bull

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by Chris Becker Looks like we’re reliving the GFC all over again with interconnectedness so high that global currency and stock markets are going to crash because some single Chinese youths are not buying as many iPhones as they should. Apple announced a near 10% reduction in its forward guidance, releasing this report: While we

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by Chris Becker Here’s the first post-NY update to the iron ore complex, with prices as of yesterday: Texture from Reuters: Shanghai steel futures turned lower on the first day of trading for 2019 on Wednesday after disappointing data from China stoked investor worries about global economic growth. Prices of steelmaking raw materials also ended

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by Chris Becker Those crazy Norwegians! Saving money from a sovereign wealth fund and then investing in their future with huge incentives to electrify the transportation grid. It’s not like they spend over $42 billion a year importing oil to power their cars like Australia – which has less than two weeks of strategic reserve

The post Norway goes electric as Australia remains ICE bound appeared first on MacroBusiness.

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Fraught preselections aplenty as the major parties get their houses in order ahead of a looming federal election.

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Macro/Markets Chinese Investors Back Away From Global Property Markets Wall Street Journal Mainstream Economics Has Become a Celebration of the Wealthy Rentier Class Evonomics Private-Equity Firms Create Funds That Are Built to Last Wall Street Journal China got on the bandwagon to provide global satellite internet  QZ Americas Jerry Falwell Jr. can’t imagine Trump ‘doing

The post Links 3 January 2019 appeared first on MacroBusiness.

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Not a good start to the New Year here in Asia today, with stocks down across the region, and the Australian dollar falling as a proxy as an unexpected slate of data from China, coupled with unease over the US trade talks – let alone the stupid Trump (but I repeat myself) shutdown – adding

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by Chris Becker It hasn’t taken long for the red button to be pushed with force by traders across the region, despite a holiday in Japan, with the Hong Kong Hang Seng Index gapping down 2% at the open: This takes it straight back to the Xmas lows and threatens the December lows too. The

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By Denis Bright  The re-democratisation of the US is reflected in improved voter turn-outs at the mid-term elections on 6 November 2018. The Blue Wave to the Democratic Party in the Senate this time was not fierce enough to over-turn the majority for the Republican Party. The new senate balance is now Democrat 47, Republican…

The post Embracing 2019: Re-Igniting a Progressive American Revolution? appeared first on The AIM Network.

When the Gillard government proposed removing John Howard’s grandfathering of the Parenting Payment, moving parents onto Newstart when their youngest child turned six if they had a partner and eight if they didn’t, the parliament’s Joint Committee on Human Rights held a public hearing into the legislative changes. In their report, the Committee members expressed…

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by Chris Becker CoreLogic are out with their first results of the new year and it’s not rosy if you’re a speculator, with a near 9% year on year fall in Sydney, and nearly 5% overall across the nation. Here’s some highlights: Housing market conditions ended the 2018 calendar year on a weak note, with

The post CoreLogic: National dwelling prices down nearly 5% in 2018 appeared first on MacroBusiness.

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