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Articles from MacroBusiness

Macro Afternoon

November 28, 2022 - 17:00 -- Admin

Asian stock markets are starting the new trading week in a bad position, reacting to the growing COVID protests in China. The USD is regaining some strength against the currency majors with some significant gap downs over the lack of weekend trade, with Euro breaking below the 1.04 level while the Australian dollar was down

New Zealand in “serious property downturn”

November 28, 2022 - 14:30 -- Admin

According to the Real Estate Institute of New Zealand’s (REINZ) House Price Index, New Zealand house prices have declined nearly 13% from their November 2021 peak. Corelogic property economist, Kelvin Davidson, believes the Reserve Bank’s uber aggressive monetary tightening, which has lifted the official cash rate (OCR) to 4.25%, means that house prices and sales

Australia tumbles down ethics index

November 28, 2022 - 14:00 -- Admin

An annual survey from the Governance Institute of Australia has seen Australia slide further down the The Ethics Index, from 52 in 2020 to 45 last year, and now 42 this year: Australia’s ethical score has taken a tumble, falling for the second year in a row, Governance Institute of Australia’s Ethics Index 2022 has

Unit rents explode as migrants pour in

November 28, 2022 - 13:30 -- Admin

CoreLogic has released data showing explosive growth in unit rents amid strong arrivals of international students and migrants. As shown in the next chart, unit rents are tracking at more than 12% across Melbourne (13.7%), Sydney (13.4%), Brisbane (13.1%) and Adelaide (12.4%): This has come off a continued decline in the nation’s rental vacancy rate,

Inside the US chip war on China

November 28, 2022 - 13:00 -- Admin

Deutsche with a handy backgrounder. The US takes a new step in the US-China chip rivalry Last week, the seventeenth meeting of the G20 summit was held in Bali, Indonesia. Although the mood between the US and China at the meeting was relatively amicable, it was only recently that the US toughened its stance on

Hartnett: Bonds not stocks

November 28, 2022 - 12:00 -- Admin

The latest from BofA’s excellent Michael Hartnett. Year Ahead 2023: we stay bearish risk assets in H1, set to turn bullish H2 as narrative shifts from inflation and rate ‘shocks’ of ’22 to recession and credit ‘shocks’ in H1’23; long bonds H1…hard landing, long stocks and bonds H2…peak Fed; maintain SPX nibble at 3.6k, bite

Hartnett: Bonds not stocks

November 28, 2022 - 12:00 -- Admin

The latest from BofA’s excellent Michael Hartnett. Year Ahead 2023: we stay bearish risk assets in H1, set to turn bullish H2 as narrative shifts from inflation and rate ‘shocks’ of ’22 to recession and credit ‘shocks’ in H1’23; long bonds H1…hard landing, long stocks and bonds H2…peak Fed; maintain SPX nibble at 3.6k, bite

Phil Lowe apologises for bungled RBA interest rates guidance

November 28, 2022 - 11:40 -- Admin

Governor of the Reserve Bank of Australia (RBA), Phil Lowe, has finally apologised for the Bank’s bungled guidance on interest rates, which told Australians that the official cash rate (OCR) would not be lifted “until 2024 at the earliest”. Appearing before the Senate Economics Legislation Committee in Canberra, Lowe was asked by Greens Treasury spokesman

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