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Articles from MacroBusiness

Planet Earth not big enough to fit Rudd and Trump

March 25, 2024 - 12:40 -- Admin

This is ridiculous: Before he replaced Arthur Sinodinos as Australia’s ambassador to the US in March last year, former prime minister Kevin Rudd was openly hostile toward Donald Trump. He variously branded the former president as “the most destructive president in history”, “nuts”, guilty of “rancid treachery”, “mercurial” and “episodically hard-line”. But now Rudd is

Australian dollar stuffed, says major bank

March 25, 2024 - 12:30 -- Admin

Goldman Sachs, no less. AUD: Space AUDity. Financial conditions have eased year-to-date, led lower by rising equity prices (Exhibit 3). Usually, AUD outperforms in this type of environment (Exhibit 4)—positive growth repricing typically benefits pro-cyclical currencies—but that typical strength has not materialized this year. Instead the currency has unexpectedly weakened versus the Dollar. We have

Is Australian property a Ponzi scheme?

March 25, 2024 - 11:30 -- Admin

In this month’s speech to the National Press Club, Yanis Varoufakis suggested that the Australian property market is a Ponzi scheme. AMP’s deputy chief economist, Diana Mousina, refuted the claim that Australian property was a Ponzi scheme, noting that high immigration and tax incentives justify housing prices. “Really, it’s Sydney, Melbourne, Brisbane where the price

Treasurer Chalmers has no idea about productivity

March 25, 2024 - 11:00 -- Admin

The Weekend Australian reported that Treasurer Jim Chalmers told the nation’s corporate leaders that Australia’s economy is “not productive enough, not competitive and not dynamic enough” and that this situation is “not acceptable to me or to the government that Anthony Albanese leads”. “That’s why we are putting in place new foundations for growth”, Chalmers said.

Mad King readies new energy reaming

March 25, 2024 - 10:30 -- Admin

The reporting on this story is so bad that the journalists should be fired. Only stakeholders were interviewed, no independent experts commented, and zero research was conducted. Are Nick Toscano and Mike Foley the nom de plumes of a new hallucinating Nine AI? Australia’s biggest east-coast gas exporters are edging closer to striking a new

Equity sentiment retreats

March 25, 2024 - 10:00 -- Admin

The Market Ear on retreating sentiment. There is almost always another buyer The greatest trick the seductive and mischievous Miss Market ever played was to fool us into believing that sentiment & positioning were max stretched. Tracking and trading these indicators have been a proper widow-maker in the last few weeks. And just to complicate

Macro Morning

March 25, 2024 - 09:00 -- Admin

Friday night was a consolidation session for risk markets as they digested all the interest rate meetings of the week, with US bond yields falling slightly while the USD held sway over the currency majors. Wall Street stumbled a little bit but held on to their gains while European stocks were all over the place

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