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Macro Morning

May 29, 2020 - 08:30 -- Admin

By Chris Becker  The risk edifice continues to push higher, helped along by a reduction in continuing jobless claims in the US even though all the other economic markers show the world’s biggest economy in a deepening recession. Wall Street stumbled at the finish due to some Trump remarks with US Treasury yields rising slightly,

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Australian dollar enters the MMT era

May 29, 2020 - 07:42 -- Admin

DXY was weak last night as EUR chases the fiscal package: Australian dollar was weak anyway: EMs were mixed: AUD/SPX correlation had an up day but is trending lower: Gold was firm: Oil too: Dirt is crushed: Except the red magic dirt. Anyone with that is flying: EM stocks are stalled: Junk is euphoric: Bonds

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Australia “heading for small business disaster”

May 29, 2020 - 07:01 -- Admin

Simon Reynolds, founder of The Fortune Institute, claims Australia is “heading for a small business disaster” and has called for further assistance from the federal government: “We are heading for a small business disaster”… “The government has offered them temporary money, but that will run out fast. “In biblical terms, the government is handing out

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CoreLogic weekly house price update: Heavy falls

May 29, 2020 - 00:10 -- Admin

In the week ended 28 May 2020, the CoreLogic 5-city daily dwelling price index, which covers the five major capital city markets, fell by 0.27%: It was the third consecutive weekly decline. The falls were driven by Sydney and Melbourne: Over the first four weeks of March, dwelling values have fallen by 0.44% at the

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Over one quarter of Aussies finally stressed from COVID-19

May 29, 2020 - 00:05 -- Admin

The easing of lockdown restrictions has improved confidence in the Australian economy, according to the latest Melbourne Institute Survey of the Impact of COVID-19 in Australia, which contains responses from 1200 persons aged 18 years and over. However, 40% of survey respondents expect to be impacted for at least another six months and 28% are

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Links 29 May 2020

May 29, 2020 - 00:01 -- Admin

Global Macro / Markets / Investing: Coronavirus pushes global credit rating downgrade threat to record high – Reuters Some 42% Of Jobs Lost In Pandemic Are Gone For Good – Forbes COVID-era junk bond deals begin to go sour in just 2 months – Reuters ‘The Top End of the Economy Will Be Fine …

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Macro Afternoon

May 28, 2020 - 16:30 -- Admin

A busy day in Asia with lots of economic reports confirming the impact the coronavirus is having on world economies, with the RBA all but ruling out negative interest rates as the local appetite for capital expenditure falls sharply. Despite the economic reality, the unrelated share market rally’s continue across the region, save for embattled

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MB Fund Podcast: Maybe more debt isn’t the answer? With Jonathan Rochford

May 28, 2020 - 16:17 -- Admin

Over the past few months we have looked several times at debt crises and how they are likely to be resolved. We had Dr Hail on to talk about MMT, we featured Ray Dalio’s solutions to debt crises and this week we hear the third option: Austrian economics. Jonathan Rochford will take to the podcast

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Scrap JobKeeper. Boost JobSeeker

May 28, 2020 - 14:00 -- Admin

Via News: Australia’s Reserve Bank Governor Phil Lowe has warned ending the $1500 JobKeeper’s wage subsidy too early would be a “mistake” and it may need to be extended beyond September. Breaking with the Prime Minister’s rhetoric that the scheme needs to be phased out as soon as possible, the RBA chief has warned the

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