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A cautious session from Asian stocks today despite a positive start to the new trading week for Wall Street overnight on the back of a week of negative results. Only Japanese bourses advanced, clawing back the 1990 highs. Meanwhile currency markets are still being dominated by a strength in USD with the Australian dollar sharply

The post Macro Afternoon appeared first on MacroBusiness.

Tonight, I will be appearing on DFA Live with Martin North where we will discuss Australian housing and the population ponzi, alongside other topics. The show goes live at 8pm AEST. We hope to see you there.

The post Join me tonight on DFA for live Q&A appeared first on MacroBusiness.

When ProPublica’s investigation into links between Republican donor Harlan Crow and the US Supreme Court surfaced, there was a sense that dark waters lurked beneath the revelations. While Justice Clarence Thomas featured prominently as the recipient of largesse and pomp from Crow – island hopping in Indonesia, private jet travel, among other treats – things…

The post The US Supreme Court Corruption Bonanza appeared first on The AIM Network.

National Australia Bank’s chief economist, Alan Oster, says the near-term balance of risks with regard to inflation remains on the upside. Oster notes that the Reserve Bank of Australia (RBA) does not expect inflation to return to the top end of its target range of 2-3% until mid-2025. The trimmed mean – the RBA’s preferred

The post Mortgage holders brace for further interest rate pain appeared first on MacroBusiness.

I’m sitting in Canberra Airport, day-drinking because my flight is delayed. Of course. I’m fine with it, though. I figure you just factor this stuff in nowadays.

Westpac’s latest consumer sentiment report suggests that Australians have turned bullish on the housing market. Despite ongoing interest rate rises from the Reserve Bank of Australia (RBA), house price expectations have soared, suggesting stronger price growth (chart from IFM Investors chief economist Alex Joiner): Joiner reasons that “population growth and potentially flows from the rental

I will offer up a  comprehensive take on the freshly released Chinese data for April tomorrow. But, for now, get a load of the disaster unfolding in property construction. April was the weakest month of starts in fifteen years, the middle of the GFC: This has established a 2023 trend for starts by floor area

The post China’s unstoppable property contruction crash appeared first on MacroBusiness.

The RBA minutes are out and although it never spells things out, it is easy enough to read between the lines: …members noted that inflation had eased in the March quarter, confirming the staff assessment that inflation had passed its peak. Despite this, inflation in Australia remained too high and broadly based… Inflation had eased

The post RBA: Immigration, gas cartel forcing up interest rates appeared first on MacroBusiness.

Westpac with the note. The Westpac Melbourne Institute Consumer Sentiment Index fell by 7.9%, from 85.8 in April to 79.0 in May. The Index has fallen back to just above the dismal levels seen back in March, which recorded the lowest monthly read since the COVID outbreak in 2020 and, before that, since the deep

The post Consumer sentiment re-crashes appeared first on MacroBusiness.

Reasoning with the gas cartel is like arguing with a Great White Shark. It knows only one way and is dedicated to only one thing. Eating you alive. More propaganda from the AFR today: Federal Resources Minister Madeleine King has emphatically backed carbon capture and storage as the best way for the resources industry to

The post Gas cartel blows up Australian energy transition appeared first on MacroBusiness.

Independent economist Tarric Brooker posted an interesting thread on Twitter arguing that the Baby Boomer generation now holds the keys to Australian consumption growth and ergo the economy. Brooker argues “the reason the financial interests of Boomers hold so much sway in Australia isn’t solely because of their status as a large voting bloc, it’s

The post Baby Boomers hold keys to Australia’s economy appeared first on MacroBusiness.