King dollar is back. AUD is beheaded by the king. Lead boots give up. Oil and gold mark time. Metlas mania implodes. Big mininig, big bear intact. EM flames out. Junk OK. Yields firm. Stocks stall. The market is just far too short US dollars triggering a short squeeze. As its economy and assets outperform.
The post Australian dollar slain by the king appeared first on MacroBusiness.
“We’ve got more thinking to do:” Coal giants say home batteries will reshape and “minimise” the grid
Sticky tariff induced inflation in the US overnight sent Wall Street lower as the expectation of rate cuts were diced as the latest PCE came in higher than expected. The Trump regime continues to bully Canada with the probability of 35% tariffs rising as no deal or framework before the August 1st “deadline” while Mexico just
The post Macro Morning appeared first on MacroBusiness.
You know it’s bad when major miners play second fiddle to the gas cartel. Via The AFR: Rio Tinto’s Jakob Stausholm delivered Labor a brutal parting warning that Australia’s energy prices are incompatible with its goal of manufacturing at home, and warned the economy risks being undercut by more competitive markets in the battle for
The post Gas cartel destroys Made in Australia appeared first on MacroBusiness.
The 2023-24 Victorian Budget stated that it expects the federal government to provide an additional “matching contribution” of around $9.6 billion for the first stage of its Suburban Rail Loop (SRL) project. The State Budget also stated that the Victorian government plans to raise around $11.8 billion from so-called “value capture”, which would involve charging
As noted many times, the idiocy of the Australian economy often plays out in the singular goal of local fund managers. To be long either mining or banks at the right moment, so you can outperform your peers. That’s all there is to it in the Houses and Holes economy. Recently, we had some bold
The post Mining rotation collapses appeared first on MacroBusiness.
US President Donald Trump has flagged an increase in his ‘liberation day’ baseline tariff to between 15% and 20%. Trump said countries that do not negotiate a special deal with the US will face an increase in the baseline tariff, which was originally set at 10%. “We are going to be setting a tariff, for
The post Why should Australia negotiate another US FTA? appeared first on MacroBusiness.
Who would want to be a traditional brick-and-mortar retailer in Australia? Not only are they dealing with intense competition from online behemoths like Amazon, Temu, and Shein, but they are still facing sagging sales growth. The latest retail trade data from the Australian Bureau of Statistics (ABS) highlights the point, with retail sales volumes rising
