The ferrous complex continues on its merry seasonal way. We ought to be near some kind of top here. The price is high enough to draw Indian ore back into the seaborne market, which will immediately have to be pushed back out again once Simandou starts up in November. The seasonal patterns, which are very
The post Iron ore bumps the upper limit appeared first on MacroBusiness.
Australia’s economy suffered a lost decade in the 2010s amid the collapse in per capita GDP and productivity growth. This decade is shaping up as another lost decade, with the economy trapped in a long per capita recession amid the worst labour productivity growth in the advanced world. The August Statement of Monetary Policy (SoMP)
We’ve gone from avoiding the only productivity question that matters, the impacts of mass immigration on capital shallowing. To a vested interest scramble. To the do-nothing PM shutting it all down. It’s a farce, as it was always going to be, and now we’re focused on just one thing: meeting the centrally planned dwelling construction
A staid night on the economic calendar with Wall Street closing at new record highs while European stocks played catchup as it seems the impact of US inflation is being discounted sharply by market players while the Fed continues to signal caution. The USD remains on the ropes against all the majors with Euro hitting
The post Macro Morning appeared first on MacroBusiness.
The ANZUS Treaty is America’s instrument of political, diplomatic, and military coercion. And it is a clear and present danger to the strategic security of Russia and friends of the Russian people.
ANZUS and the dangers to Russia
BY Simon Westwood
WHAT FOLLOWS IS NOTHING NEW... TO SOME EXTEND IT IS ERRONEOUS BY GENERALISATION OF HUMAN INTELLIGENCE. WE HAVE TO SAY SOME HUMANS HAVE THE CAPACITY TO UNDERSTAND AND LEAD WHILE OTHERS "COME ALONG FOR THE RIDE"... THIS HAS BEEN THE CASE SINCE HOMO SAPIENS FELL FROM ITS TREE AND WALKED THE GRASSY PLAINS....
Zelenskyy and Europe agree five principles for peace deal with Russia
German Chancellor Friedrich Merz said that Ukraine's European allies have agreed on five main requirements for a peace deal with Russia.
"We want President Donald Trump to be successful in Anchorage on Friday," Merz said following the virtual call he organized ahead of Trump's Alaska summit with Putin.
The European Commission is plotting to help oust Hungarian Prime Minister Viktor Orban over what it considers his overly independent policy, according to Russia’s Foreign Intelligence Service (SVR).
The Hungarian leader has repeatedly clashed with Brussels in recent years, opposing EU military aid to Ukraine and Kiev’s bid to join the bloc.
OECD data shows that Australia has experienced the largest decline in real per capita household disposable incomes in the developed world. The March quarter national accounts release from the Australian Bureau of Statistics (ABS) showed that annual real per capita household disposable income was tracking 8.2% below its Q2 2022 peak: Tuesday’s Statement of Monetary
111 years ago the assassination of Archduke Franz Ferdinand of Austria became the pretext for the butchery of World War I.
Asian share markets are generally boisterous in correlation with the equally euphoric Wall Street which was able to swing a higher domestic inflation print into an increased probability of an interest rate cut by the Federal Reserve in September. Currency-land remains stagnant however with the USD losing out against most of the majors as Euro
The post Macro Afternoon appeared first on MacroBusiness.
