DXY paused Friday night: AUD did too: Commodities dead cat bounced: Miners too: EM stocks are so yesterday: Junk is bleeding out: The Treasury curve was pulverised: As the AI bubble exploded: Friday night gave us robust US PCE inflation that is swiftly raising the prospect of more Fed hikes. There was also the specter
Boomengineering This is what I am doing today, taking down the ready to fall on powerlines and footpath palm. Planed to go higher but is becoming unstable. This is what Sunova Sliders look like. 6’1″balsa, 6’8″ paulownia Came a cropper the other day after the bike shop installed a new electric hub gear. The
Australia & New Zealand Australia Employment Australia Government debt, major states Australia, red meat and CPI Australia Q1 2023 income growth by sector RBA and RBNZ Cash Rates Australia Productivity Australia Building Approvals Australia Participation rates by Gender Australia Mortgages Australia Real GDP per capita RBA Forecasts Australia Retail Australia Terms of Trade
Global Macro / Markets / Investing: Office Workers Don’t Hate the Office. They Hate the Commute. – NY Times Corporate profits fall 6.8% in Q1 – Seeking Alpha Credit rating agency warns it may downgrade US debt rating, driving up costs – CNN Debt ceiling negotiations intensify as Fitch ratings warning on U.S. credit adds
Asian markets are quite mixed again in the last trading session of the week with the US Congress debt ceiling negotiations dominating risk taking. The highest CPI reading in Tokyo for 40 years is keeping Japanese stocks flying higher and the Yen lower while the strong USD is keeping the Australian dollar at its new
In this week’s Treasury of Common Sense, 2GB Radio’s Luke Grant and MacroBusiness’ Leith van Onselen assess claims by the Albanese Government that: It has delivered more jobs in its first year than any other Australian government in history; and That Australia’s GDP growth (2.7% in the 2022 calendar year) is stronger than any major
The AFR is out with its 2023 Barf List. There’s no love lost at the top of the Rich List. Gina Rinehart and Andrew Forrest, both in their 60s, have more in common than they’d like to admit. But they don’t see eye to eye on many levels, most notably the future of fossil fuels
By Gareth Aird, head of Australian economics at CBA: Key Points: The economic data released since the May Board meeting does not support another rate hike in June. In addition, our assessment is that the 2023 Commonwealth Budget does not add to inflationary pressures in the economy. We currently ascribe a 90% chance to no
Two years ago, the Victorian Auditor-General found that multibillion-dollar projects were being built on the back of “fragmented planning” and secrecy, which is wasting taxpayer dollars. The Auditor-General also found that the Victorian Government has a “tendency to underestimate costs and over-estimate benefits” of major projects. This, in turn, “can have consequences for Victorians, such
The Australian Bureau of Statistics (ABS) has released retail sales data for April, which came in flat (0.0%) over the month to be 4.2% higher year on year: Sales were dragged down by the two largest states, which both registered declines: Ben Dorber, ABS head of retail statistics, said the slowdown in retail spending seen