And now for a dose of European exceptionalism! The Market Ear. The Old Country is now the new hot darling Everything is going Europe’s way right now. Stocks are outperforming, inflows have just started, there are macro green-shoots and valuations are still cheap. Let’s once again revisit the new darling macro case that is Europe.
I sent a manuscript off yesterday, which was good, and I would’ve liked to have swung into another one today. Probably the edits on the last of the Cruel Stars novels. But I have an army of tradesmen heading my way. Some of it is cyclone-related. Guys coming out to do insurance work. And some of it is just kitchen maintenance. We’re replacing the oven after 20 years and the dishwasher after 5 or 6, which seems to be about as long as a dishwasher lasts these days. So I'm in my office downstairs, but I've got one ear trained on the front gate.
The Albanese government has set a fantastical target of building 1.2 million homes over five years. To meet this target, Australia would need to build many shoebox apartments. New South Wales and Victoria have introduced planning reforms allowing the blanket construction of high-rise towers across Sydney and Melbourne activity centres. The widespread push for density
Australian housing affordability is at an all-time low. At the end of 2024, the percentage of income necessary to satisfy median-sized mortgage repayments reached a record high of 50.6%. Rental affordability also dropped to a new low, making it tougher for first-time buyers to save a deposit. Prior to last month’s 0.25% interest rate reduction
It’s a triumph! Australia’s energy shortages have been resolved. Except when you look at how. From the AEMO. Shortfall risks under peak conditions are forecast in southern Australia from 2028, later than forecast in the 2024 GSOO due to expected falls in residential, commercial and industrial consumption of gas, and the delayed retirement of Eraring
DXY and EUR stable. AUD downish. Lead boots are made for walking. Gold has entered some kind of new up smash. Copper doom is here thanks to Goldman. Meh everything else. Big miners meh. EM maybe. Credit surged. Oh dear. Yields down. Stocks up. Is it a sort of Fed put? UBS. Dare anyone say
The post Australian dollar enjoys Fed put appeared first on MacroBusiness.
We are now less than two months away from the last possible date for the 2025 Australian federal election, so it seemed to be about time to take down the paywall around my federal election guide. But I am also launching another election guide behind the paywall, my first for 2026.
Trump wants US ownership of Ukraine’s energy facilities – White HouseThe president has told Vladimir Zelensky it would be the best way to protect the country’s power plants
US President Donald Trump has proposed an American takeover of Ukrainian power plants, suggesting it would be the best way to protect the infrastructure, the White House has revealed.
Last night saw the US Federal Reserve hold fire on interest rate changes although it did signal that stagflation is the likely outcome for Trump’s Tariffs with an uptick in inflation already observable. US stocks loved the talkfest anyway as Wall Street and European stocks pushed higher, the latter again moving mainly due to defense
The post Macro Morning appeared first on MacroBusiness.
Ukraine updates: Zelenskyy agrees to 'partial ceasefire'
Ukrainian President Zelenskyy says he is open to a "partial ceasefire" after a "frank" call with US President Trump, who suggested the United States take over Ukrainian power plants as a security guarantee. DW has more.
2 hours ago
Ukrainian frontline troops suspicious of Trump and Putin's proposals
Last month, the Australian Bureau of Statistics (ABS) released the Q4 2024 wage price index, which increased 0.7% for the quarter and 3.2% year on year. The 0.7% quarterly increase was the equal-lowest growth rate since Q1 2022, while the 3.2% annual increase was the lowest since Q3 2022. Real wages deflated by headline CPI
The post Wage inflation eases as job market fades appeared first on MacroBusiness.
At one stage the mining billionaire accidentally referred to his new political party, the Trumpet of Patriots, as the ‘Trumpet of Parrots’. Well, if the shoe fits …
Billed as news that could ‘break the Guardian’s website’, it turned out to be Clive Palmer’s best shot at Trump lite