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MacroBusiness Wednesday, July 2, 2025 - 11:34 Source

Via the ABS today. Building approvals are still garbage. Total dwellings approved rose 3.2% to 15,212. Private sector houses rose 0.5% to 9,454 and private sector dwellings excluding houses rose 11.3%, to 5,571. The value of total residential building rose 3.6%, to $9.28b. The value of total non-residential building fell 22.4%, to $6.16b. At this

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Your Democracy Wednesday, July 2, 2025 - 11:06 Source

 

Medical sources told Al Jazeera on Monday that Israeli attacks killed at least 95 Palestinians in Gaza throughout the day as Israeli forces bombed a seaside cafe and gunned down more desperate people who were seeking aid.

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MacroBusiness Wednesday, July 2, 2025 - 11:00 Source

The Market Ear on a down day. Violent moves Under the hood pain is huge today. DeepSeek déjà vu anyone? UBS writes: “There has been a big momentum unwind with the UBS basket (UBPTMOMO) -5.7%, which is the biggest move since January with the long leg selling off (-3.8%) and short leg squeezing (+1.9%). There is

The post Stocks bear-up into EOFY appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 10:30 Source

As Australia continues to shed its industrial base, the US is rebuilding. Morgan Stanley with the note. US Reshoring Momentum Is Outpacing Early Expectations Our US Industrials analysts note that May US manufacturing construction starts sustained the strength seen in April, and activity is tracking at ~2x the pre-Covid run rate. The average project size

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MacroBusiness Wednesday, July 2, 2025 - 10:00 Source

As the gas cartel unleashes another energy shock… There is nothing it will not destroy in due course. We can no longer make plastics, nor glass, nor many forms of steel. Soon it will be any and every metal processing as well. AFR. The chief executive of Nyrstar Australia says the metal processor urgently needs

The post Gas cartel destroys metals processing, you appeared first on MacroBusiness.

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MacroBusiness Wednesday, July 2, 2025 - 09:30 Source

DXY eased lower. AUD higher. Lead boots too. Will gold have another crack? Metals paused. EM meh. Junk rejection. Short end sold on the passage of Trump Big Beautifil Bill. Stocks sold in EOFY. Deutsche says the hiccup in US capital flows is very large indeed. The US trade numbers have been very volatile in

The post Big Beautiful Australian Dollar appeared first on MacroBusiness.

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Your Democracy Wednesday, July 2, 2025 - 09:03 Source

US President Donald Trump has said that he might entertain the idea of deporting Elon Musk and could consider getting the Department of Government Efficiency (DOGE) to look into the billionaire’s government contracts.

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MacroBusiness Wednesday, July 2, 2025 - 09:00 Source

Wall Street took a step back after the US Senate passed the Billionaire Tax Bonus Bill while the Trump regime waved off concerns that not even a single nation has done a trade deal coming up to the July 9th deadline. Meanwhile Fed Chair Powell said they would have cut already if not for those

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, July 2, 2025 - 04:07 Source

Russian President Vladimir Putin has spoken with his French counterpart Emmanuel Macron by telephone, the Kremlin press service said on Tuesday. It is the first phone contact between the leaders since September 2022. 

The conversation revolved around the situation in the Middle East, as well as the Ukraine conflict.

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Your Democracy Wednesday, July 2, 2025 - 03:24 Source

Germany’s new chancellor Friedrich Merz has plunged the country into a deep political and geopolitical crisis, driven by aggressive pro-war rhetoric and a failing foreign policy agenda centered on Ukraine.

 

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Your Democracy Wednesday, July 2, 2025 - 03:20 Source

One way to get a robust, comparative fix on how obscene American global preaching about human rights has become is (borrowing a vivid image from Caitlin Johnstone) to imagine what the world might think about a scorching lecture from a Taliban leader on the Western oppression of women and women’s rights.

 

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Your Democracy Wednesday, July 2, 2025 - 03:13 Source

Lugansk People’s Republic liberated: How it happenedRussian troops have gained control over all areas of the region, ending Kiev’s occupation

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