On Sunday, I appeared on Freya Leach’s Sky News show, Freya Fires Up, to debate Kos Samaris on the merits of Australia’s migration system. The segment ended up being more of a polite discussion rather than a debate, given that we agreed on most things. Nevertheless, a list of potential discussion topics was sent beforehand,
The post The great immigration debate appeared first on MacroBusiness.
The ferrous complex remains drunk as steel margins evaporate. And then there is this. S&P. Today, we are witnessing a resurgence in capital expenditure focused on iron ore, contrasting with the overall capital decline in the mining industry. Notably, a significant portion of this investment, focused on iron ore, is directed toward Guinea and the Simandou Blocks 1 & 2 and Simandou Blocks 3 & 4 projects. Simandou is a particularly high-grade deposit, with grades averaging 65.8%
The Market Ear on bulls versus bears. It’s like déjà vu all over again “The current set-up is very similar to where things stood a month ago. Recent stock market dip and recovery back to ATHs? Check. US equity positioning above average, but declining slightly? Check. HF gross leverage near highs? Check. Momentum performance choppy, but still near highs?
The post Long all the things! appeared first on MacroBusiness.
The Price is right. The federal opposition is in damage control following firebrand senator Jacinta Nampijinpa Price’s claims the government is accepting “large numbers” of Indian migrants into Australia to bolster Labor’s vote. Polling strongly suggests that Jacinda Price is right (especially now she has said it!). Indian migrants voted strongly for Labor at the
One time in Thailand, however many years ago, I was listening to a young lady complain about Chinese people. I had some sympathy to her complaints, as Chinese tourists can be overbearing. On the whole, they spend so much money, it is hardly fair to complain. And the thing about this is: China developed so rapidly that the average 30 year old has parents who grew up in a rice field.
Last month, the Reserve Bank of Australia (RBA) lowered the official cash rate (OCR) by 0.25% to 3.60%. This marked the third 75 bp rate cut this year. Most economists and financial markets have tipped the RBA to deliver another two 25 bp rate cuts by mid-2026. The associated decline in mortgage rates has improved housing
This is good from The Australian. …Manufacturing Australia, which counts BlueScope, Tomago Aluminium and CSR as members, told the government review that east coast-based manufacturers pay between $12 and $19 per gigajoule for gas compared with the US, where prices are $5 to $7/GJ in comparison. …The group said Australia must target a delivered gas
No surprise or upward Sharpie revision on Friday night as the actual US jobs print came out and was bad all over, with prior results also revised down, giving a clear run to a September rate cut by the Fed and possibly two more by the end of the year. Wall Street held steady as
The post Macro Morning appeared first on MacroBusiness.
Being a renter in Australia has turned into the Hunger Games. The record surge in migration post-COVID has added extraordinary rental demand, illustrated neatly below by Justin Fabo at Antipodean Macro. As a result, capital city asking rents soared as more people competed for housing. At the end of 2024, Cotality (formerly CoreLogic) estimated that
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.
I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.
