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Sack Rudd now

July 2, 2025 - 13:30 -- Admin

Failing US ambassador Kevin Rudd yesterday met with failing foreign affairs minister Penny Wong. Here is the happy couple responsible for a sharp deterioration in the US alliance. A nastier pair of beearches you are unlikely to meet. The failed Rudd now requires the support of the foreign minister to get his job done. Penny

Australian freedom is under attack

July 2, 2025 - 13:00 -- Admin

When the word freedom comes to mind in our collective consciousness, it can be interpreted in a number of different ways. It can be an expression of one’s ability to share their ideas or views freely, or it can relate to one’s capability to go about one’s day unimpeded by a Draconian state. But there

Albo’s building approvals embarrassment intensifies

July 2, 2025 - 11:34 -- Admin

Via the ABS today. Building approvals are still garbage. Total dwellings approved rose 3.2% to 15,212. Private sector houses rose 0.5% to 9,454 and private sector dwellings excluding houses rose 11.3%, to 5,571. The value of total residential building rose 3.6%, to $9.28b. The value of total non-residential building fell 22.4%, to $6.16b. At this

Stocks bear-up into EOFY

July 2, 2025 - 11:00 -- Admin

The Market Ear on a down day. Violent moves Under the hood pain is huge today. DeepSeek déjà vu anyone? UBS writes: “There has been a big momentum unwind with the UBS basket (UBPTMOMO) -5.7%, which is the biggest move since January with the long leg selling off (-3.8%) and short leg squeezing (+1.9%). There is

Big Beautiful Australian Dollar

July 2, 2025 - 09:30 -- Admin

DXY eased lower. AUD higher. Lead boots too. Will gold have another crack? Metals paused. EM meh. Junk rejection. Short end sold on the passage of Trump Big Beautifil Bill. Stocks sold in EOFY. Deutsche says the hiccup in US capital flows is very large indeed. The US trade numbers have been very volatile in

Macro Morning

July 2, 2025 - 09:00 -- Admin

Wall Street took a step back after the US Senate passed the Billionaire Tax Bonus Bill while the Trump regime waved off concerns that not even a single nation has done a trade deal coming up to the July 9th deadline. Meanwhile Fed Chair Powell said they would have cut already if not for those

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