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Overnight saw most markets pull back in volatility as they absorbed the latest US unemployment numbers from Friday night’s NFP print which came in softer than expected although USD was able to stabilise somewhat. Wall Street tried to recover but tech stocks dragged it down while European shares also lost momentum. The Australian dollar has

The post Macro Morning appeared first on MacroBusiness.

Everything Treasurer Jim “Chicken” Chalmers touches turns a deep shade of brown. In his short tenure, this fearful Treasurer has allowed energy prices to hit unthinkable highs: Is directly responsible for the worst housing crisis in living memory: And personally delivered about half of the worst inflation shock in half a century, as well as

The post Jim Chalmers is the macro kiss of death appeared first on MacroBusiness.

Morgan Stanley with the note. China – More signs of weakening Wage growth has slowed: As it is, aggregate wage growth – proxied by household income– has already slowed to 5.3% on a 2YCAGR basis (to adjust for Covid-related base effects), down from 6.2% in 3Q23 and from 9% pre-Covid (2017-19 average). While wage growth

The post China’s next deck chair goes under appeared first on MacroBusiness.

As always, I am ahead of the curve. For years it has been my practice at large family gatherings to massively overeat before retiring to the floor, where I will lay on my back until my grossly distended tummy is less grossly distended.

Apparently, the TikTok kids have only just discovered this.

From the New York Times.

As a child, Josh Patner became accustomed to stepping over his mom, who used to lie down in the kitchen whenever her mother-in-law would call.

Comments by Pope Francis about launching peace talks to end the Ukraine conflict echo the repeated calls Moscow has made for the same, Kremlin spokesman Dmitry Peskov said on Monday.

Peskov’s remark comes after the head of the Catholic Church stated in an interview with Swiss broadcaster RSI over the weekend that it would be a display of courage from Kiev if it raised a “white flag” and entered into peace negotiations with Russia. 

US President Joe Biden’s recent blunder in which he mixed up Ukraine and the Middle East sums up his poor mental state, former Russian leader Dmitry Medvedev has claimed.

Biden’s gaffe came in an interview with MSNBC on Saturday, as he discussed the Israeli military campaign in Gaza with host Jonathan Capehart. The US leader said West Jerusalem should not repeat the mistakes that Washington made following the September 2001 terrorist attacks.

From whinging, whining and blowing snot bubbles to playing to the Klueless Klutz Klan From objet d’ridicule to vile scrubber “The real competition now is to see who is a bigger drag on the Liberal vote, Dutton or Ley. Either way it’s a race to the bottom.” (Dee Madigan). The Tory capacity for feculence knows…

The post Floozy Sussie and the racist gambit appeared first on The AIM Network.

Developers are locking customers into inflated energy prices they can’t escape from for years.

The AFR is the most dangerously stupid newspaper in Australia: Interest rates may be heading lower as inflationary pressures sparked by the pandemic recede. Still, they are unlikely to stay there as major geopolitical and macroeconomic forces will push them higher. That’s the view of macroeconomic and market experts who identified supply chain constraints, shifting

The post Australia’s future is deflation appeared first on MacroBusiness.

Last year’s Trade & Assistance Review from the Productivity Commission (PC) explained how Australia’s system of import tariffs has become a nuisance that costs more in compliance costs than the revenue that it raises. The PC estimated that the federal government collected $1.8 billion in tariff revenues in 2021-22, while businesses spent between $1.2 billion

The post Australia to finally abolish nuisance tariffs appeared first on MacroBusiness.

EU MURDER

Russia’s ambassador to France was summoned on Friday [2022] to the French Foreign Ministry over an earlier embassy Twitter post that Paris deemed unacceptable, the foreign ministry said.

Financial markets have finally caught up with reality, tipping widespread official interest rates across advanced economies from late this year. The next chart from Justin Fabo at Antipodean Macro tells the tale and shows that markets are currently tipping a more gradual monetary policy easing in Australia than elsewhere, which we at MB disagree with:

The post Markets forecast torrent of interest rate cuts appeared first on MacroBusiness.