When a picture is worth a thousand words: The only thing I can compare the violence of this move to is when iron ore fell to $37 in early 2016. Though obviously the other way around. What a squeeze. Aussie miners selling into it.
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If you want housing affordability, then raze Canberra because it is not coming otherwise. Labor has a suite of policies stuck in the senate designed to inflate the bubble: Corproitizing rents to embed price inflation. Shared equity ponzi scheme to dive prices crazy. Building far too few houses. These come on top of its wildly
The Australian Bureau of Statistics (ABS) released its Finance and Wealth survey for the June quarter of 2024, which shows that household wealth hit an all-time high of $16,477.2 billion after increasing by $249.7 billion over the quarter. The ongoing appreciation of Australian home values drove the rise in wealth. Dwelling assets grew by $216.0
Last last week, the ACCC made it abundantly clear, once again, what’s happened to Australian energy: The effect of LNG producers’ decisions on available gas The LNG producers’ decisions on the timing of exports can have a material effect on the volumes of gas available to the east coast market throughout the year. In this
Jarden economist Anthony Malouf says the investment bank has concluded that increased government spending on the $49 billion National Disability Insurance Scheme (NDIS) is contributing to inflation and could reduce the chances of the Reserve Bank of Australia (RBA) cutting interest rates. Jarden attributes the increased spending on the NDIS to the jump in the
SHFE and SGX continue their lockstep rise, ensuring little if any improvement in steel margins: This is why there is little improvement in hot metal output, still far below last year: Nor have we knocked out any iron ore supply. Au contraire! And Chinese stocks of dirt are still piling up: It is a giant
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Is it a Chinese “bazooka” or not? Media reporting has been so bullish that one would have thought so. Some highly regarded strategists also think so. Michael Hartnett at BofA for instance: China stimulus: RRR cut 50bps (lowest since Feb’07) = 1tn yuan ($142bn) in bank liquidity; cuts in mortgage rates = 150bn yuan ($21bn)
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Friday night saw the release of the latest US PCE (personal consumption expenditure) print and it came in a little softer than expected, but this still gave no relief to Wall Street as tech stocks sold off slightly. European stocks did much better, translating the outsized returns here in the Asian session into a solid
The post Macro Morning appeared first on MacroBusiness.
One of the common arguments the property lobby makes against negative gearing reform is that rents would skyrocket if investors were no longer allowed to claim rental losses against their wage and salary income. We saw this argument again in an article published on realestate.com.au, whereby an investor with 110 properties claimed that “rents will
8:00am Monday – All of the results of NSW council elections conducted by the NSW Electoral Commission are due to be declared over the course of today and tomorrow.