Ferrous complex struggles continue. The steel output cuts have begun. The China Iron and Steel Association said this week the government was “actively deploying and promoting” its crude steel production mandate. Looming output restrictions have weighed on the market and are expected to impact demand of iron ore. “The main task facing the steel industry is
I have frequently cautioned that state and federal government plans to blanket our cities with high-rise apartments will not help Australian housing affordability and will reduce livability. The reasons are simple: it is too expensive to construct apartments. As a result, they cannot be delivered at a reasonable cost to buyers. Urbis highlighted the excessive
The Reserve Bank of Australia’s (RBA) Statement of Monetary Policy (SoMP) forecast that by Q2 2027, Australian real wages would be 5.9% below the Q2 2020 peak, tracking around the same level as December 2011. Extrapolating the RBA’s forecast suggests that Australian real wages may not recover to the Q2 2020 peak until around 2040.
Presidents Vladimir Putin and Xi Jinping signed a series of documents and delivered statements to the press following their May 8 talks, outlining the further development of bilateral relations and cooperation on the international stage.
Key Agreements Signed
Joint statement on deepening comprehensive partnership and strategic cooperation, marking a new era.
Eighty years is a long time. Over such a span, the world changes almost beyond recognition, and events that once felt close fade into legend. Yet while history may become distant, its imprint remains. The Second World War created a political order that shaped global affairs for decades – an order many assumed was permanent.
DXY is back. AUD is not. Lead boots are heavy. Commods says no bueno for growth. Big miner meh. EM meh. Junk a bit better. Yields won’t budge. Stocks only go up. DXY breaking out. EUR breaking down. Ordere restored. Nobody got dollars. And you’re going to need them if you’re chasing tech stocks again.
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The official Q1 CPI inflation print from the Australian Bureau of Statistics (ABS) revealed that the policy-important trimmed mean inflation fell to 2.9% year-on-year to be within the Reserve Bank of Australia’s (RBA) inflation target of 2% to 3%. As illustrated below by Justin Fabo from Antipodean Macro, the Melbourne Institute’s monthly trimmed mean inflation
A new Pope has been elected by the conclave of cardinals at the Vatican. A US-born prelate, Robert Francis Prevost, has been named as the new pontiff. He is the first American Pope in history.
Born in Chicago, Illinois, Prevost, 69, has taken the name Leo XIV. He spent much of his church career as a missionary in Latin America and worked for a decade in Trujillo, Peru, before becoming bishop of the Peruvian city of Chicalayo.
Australia is experiencing a housing crisis because its home prices are among the highest in the world compared to incomes, we have some of the most indebted households in the world, and tenants are paying a record share of their income on rent. According to CoreLogic, the total value of Australia’s housing stock was $11.3
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