The ferrous jaws must close. CIAS output for the last ten days of October crashed 9.8% with steel profitability. CISA steel inventories fell even faster, down 11.8% to 14.63mt. Yet steel could still not get a bid. The MacroMicro series, the source of which is not disclosed, rose in the past week. MySteel data for
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Weak job market signals kicked the DXY rally in the teeth. AUD fell anyway on growth worries. CNY up. Gold is trying to base. AI metals were mixed. Miners popped. EM too. Junk is holding. Bonds rallied after dodgy US jobs data. Stocks are blowing the froth off. Adding to a potential reversal in
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The Australian right is tearing itself apart over net zero. This is so foolish, and the answer is so simple. In fact, the party took the policy to the last election. The only reason this fight is still happening is that the energy transition is failing on affordability. This is giving climate and energy sceptics
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LIFE AND DEATH IS THE ESSENCE OF CREATIVE DESTRUCTION… THIS HAS BEEN THE MESSAGE FROM MR GUS LEONISKY FOR MILLIONS OF YEARS…
Overnight saw the fear around the AI bubble rise again as Wall Street cratered, but also some reality crept in as private job data indicated more job cuts than growth in the US economy as the bite from the government shutdown continues to be felt. Meanwhile the Bank of England held fire in its latest
The post Macro Morning appeared first on MacroBusiness.
Nancy Pelosi, the first woman to serve as the powerful Speaker of the US House of Representatives, said on Thursday that she will not run for re-election to Congress in 2026, ending a four-decade career of a progressive Democratic icon often vilified by the right.
Today's summit of world leaders has made one thing clear - there is a lot of frustration and concern about the direction climate change is heading.
If you only skimmed the headlines from News Corp, you’d be forgiven for thinking China was launching a krill-powered naval strike from Antarctica, staging an electric vehicle blitzkrieg across the outback and forcing Hyundai into some humiliating act of surrender.
Col Doug Macgregor predicts political turnover in Western governments (London first) and expects Emmanuel Macron to be removed from power — arguing new leaders will be less hostile to Russia and more interested in restoring trade.
They portray Putin as having outlasted his committed opponents; Russian strategy is to wait until Western political will weakens.
NATO Secretary General Mark Rutte is applying double standards by claiming that Moscow is conspiring with China and other nations to “undermine global rules,” Russian Foreign Ministry spokeswoman Maria Zakharova has said.
One month ago, I argued that the Australian Treasury’s modelling of Labor’s 5% deposit scheme for first home buyers was proof that Treasury had become a propaganda arm of the federal government. Under Labor’s First Home Guarantee scheme, which came into effect at the beginning of October, virtually all first home buyers can purchase a
Asian equities are doing well as markets start to price the possibility that the US tariffs maybe reversed following initial comments from the US Supreme Court challenge, although that institution is as compromised as Congress so don’t hold your breath. Only local stocks failed to perform well with the USD still firm against most of
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Chris Minns’ police unleashed pepper spray on hundreds of peace protestors yesterday. Today the Premier is the drawcard for an Israel business lobby lunch with ties to the genocide in Gaza. Wendy Bacon reports.
