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Articles from MacroBusiness

Supermarkets 1 versus Greens 0

April 17, 2024 - 13:00 -- Admin

Good on the Greens for trying but this argument is weak: Outgoing Woolworths boss Brad Banducci was threatened with six months in jail for contempt of the Senate after he refused to directly answer questions about a profit metric, in a fiery Senate hearing that went off the rails on Tuesday. Mr Banducci declined to

Clare O’Neil gaslights on record migration numbers

April 17, 2024 - 12:30 -- Admin

The December Mid-Year Fiscal and Economic Outlook (MYEFO) projected that Australia’s net overseas migration would fall to 375,000 this financial year. Labor’s projection was categorically blown out of the water by Tuesday’s net permanent and long-term arrivals figures from the Australian Bureau of Statistics (ABS), which recorded the strongest monthly (105,500), quarterly (172,400),  and annual

Perth house prices to boom then bust

April 17, 2024 - 11:30 -- Admin

According to the most recent set of CoreLogic and PropTrack home value statistics, Perth is at the forefront of the nation’s price boom, with a spectacular rise in home values in the year to March. CoreLogic’s daily housing values index reported that Perth dwelling values increased by 19.8% in the year to March, considerably above

Australian dollar crushed by Fed

April 17, 2024 - 11:18 -- Admin

DXY is approaching resistance. If we get through, it will go nuts: AUD is pushing towards critical support: North Asia is a pair of concrete boots: Oil is consolidating while we await Netanyahu’s next act. Gold held: Miners still need the big retest: EM puke: Junk puke: Yields up: Stocks hanging on for grim death:

RIO, Vale ready iron ore deluge

April 17, 2024 - 11:11 -- Admin

RIOn is out with its quarterly report, and it makes interesting reading for an iron ore shorter: • 2024 production guidance is unchanged. • Expectations for Pilbara iron ore shipments in 2024 remain at 323 to 338 million tonnes. SP10 levels are expected to remain elevated until replacement projects are delivered. This guidance remains subject

Under 30s rage against housing injustice

April 17, 2024 - 11:00 -- Admin

Young Canadians squeezed by housing are turning away from Justin Trudeau’s left-leaning Liberal Party: Prime Minister Justin Trudeau was elected in 2015 with the support of younger Canadians drawn to his optimistic messaging and socially progressive values. Trudeau’s primary adversary, Conservative Leader Pierre Poilievre, has made significant gains among younger voters since he aggressively criticised

Leading index: More crapola growth ahead

April 17, 2024 - 10:48 -- Admin

Westpac with the leading index. Leading Index growth rate drops to –0.23%. • Momentum likely to remain weak throughout 2024. • Pull-back in commodity prices drives latest slowing. • Most other components remain soft. The six-month annualised growth rate in the Westpac Melbourne Institute Leading Index, which indicates the likely pace of economic activity relative

Another dagger through the hearts of Australian renters

April 17, 2024 - 10:00 -- Admin

Australia’s population increased by a record 660,000 people in the year to September, which is roughly 1.5 times the size of Canberra. On Tuesday, the Australian Bureau of Statistics (ABS) released net permanent and long-term arrivals figures for February, revealing record arrivals on a monthly, quarterly, and annual basis. An unprecedented 105,460 net permanent and

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