I have been watching the last week of counting in the ACT election, which eventually made it clear that the Greens’ Laura Nuttall would retain the final seat in Brindabella, despite her own party conceding defeat on election night, and that Liberal MP Ed Cocks would narrowly hold on against another Liberal in Murrumbidgee. I haven’t been able to actively post in part because I’m away on a family holiday.
The Market Ear on stocks. Fast buying Coming into this week, HFs have net bought US equities at the fastest pace YTD. GS PB Grossed up Hedge fund gross leverage at 100th percentile. Looks full. MS PB Bought a lot Long/short equity hedge funds have significantly increased net exposure, risk control and CTA funds have
The post Mountains of dry powder appeared first on MacroBusiness.
Earlier this year, former federal Treasury official Stephen Anthony warned that Victoria may ultimately require a federal “bailout” amid soaring state debt, which hit $27,729 per person in 2023-24. “Victoria is on a suicide mission to record borrowing, just as global interest rates are about to hit 5%”, Anthony warned. “Potholes can’t get filled, emergency
SHFE was down yesterday. SGX popped overnight: Mad Dalian likewise: Steel margins have collapsed again, most notably for flat: As mills ramped output into the stimulus mirage:: Steel inventories are materially above last year now. Iron ore will rise from here as well. MySteel: The inventories of imported iron ore sintering fines maintained by the
South Korea’s president said his government “won’t sit idle” as North Korea allegedly sends troops to support Russia’s war on Ukraine, as he met with the leader of Poland to discuss expanding defence cooperation amid the ongoing conflict.
IMF upgrades Russia to world’s fourth-largest economyThe country is outperforming Japan in terms of purchasing power parity, according to the Washington-based organization
The International Monetary Fund (IMF) has ranked Russia as the world’s fourth-largest economy based on purchasing power parity (PPP).
LA Times editor quits after Harris endorsement blockedMariel Garza claims that the outlet’s refusal to back the Democratic presidential candidate could appear “sexist and racist”
Overnight saw the release of the latest US weekly initial jobless claims which came in lower than expected, with USD selling off slightly against most of the other major currencies. Wall Street actually climbed higher after its mid week slump while European shares found a bid on solid PMI numbers. Euro had some relief from
The post Macro Morning appeared first on MacroBusiness.
DXY finally took the day off: But AUD went no bid anyway: North Asia enjoyed a relief rally: As did the crap complex of commods, miners and EM: But not junk, which is a worry for risk: Eve though yields fell: And stocks eked out gains: Credit Agricole sums up the obvious: Based on the
The post Australian dollar goes no bid appeared first on MacroBusiness.
The Victorian government’s plan to address the housing crisis by pushing for mid-level and high-rise apartment buildings to be developed in designated “activity centres” of Melbourne has been labelled as “not feasible to build and sell, especially at scale” by property developer Max Shifman. Shifman notes that new apartments cost significantly more to build or
Australia now has a government and parliament wanting timely transition to net zero. We have a government and parliament wanting to build Australia as the renewable energy superpower of the zero-carbon world economy. For the time being, we have favourable international settings for using our opportunity.
Neither Democrat Kamala Harris nor Republican Donald Trump could possibly get elected in Belarus or Russia with their empty rhetoric and personal attacks against each other, Belarusian President Alexander Lukashenko said on Wednesday, calling both candidates “idiots.”
According to physicists, the two existential (live-or-die) policy-issues are to prevent a World War Three (WW3) — a war between nuclear superpowers, which would kill-off more than half of the global population within two years after the explosions — and to prevent runaway heat-up of our climate.
Economists at the National Bank of Canada published research arguing that Canada was caught in a “population trap” of declining productivity and living standards. The economists noted that the nation’s population growth was “too high relative to the stock of capital available in the country”. Canada’s population increased by 1.25 million in 2023, all via
