Ferrous lifted again Friday. Some charts show significant churn in the underlying state of the market. The first chart is difficult one to swallow. Steel production is down 2-3%. Chinese iron ore production is flat. Some of this is the continued orientation towards BOF versus EAF, but not enough to explain the chart. Some MySteel
Be careful what you vote for. The Australian. Anthony Albanese has given a speech that will heighten fears of a growing strategic and political disconnect between Australia and Washington. …“Our alliance with the US ought to be remembered as a product of Curtin’s leadership in defence and foreign policy, not the extent of it,” he
Friday night was a subdued session as Wall Street was closed for the (last?) 4th of July celebration while European shares took a drop as the expectations of entrenched tariffs from the Trump regime’s deadline this week look set. The early and surprisingly upbeat NFP print gave the USD a small reprieve in the previous
DXY is stable, but the EUR is in a hurry. AUD is not. CNY plods on. OPEC boosted big over the weekend. Oil is to suffer. Metals flamed out. Miners meh. EM is looking a bit like its old self. Junk meh. US markets were shut for Independence Day, but the falling dollar is starting
Domain/Nine has a new excuse for the property bubble. Nine. This is a small portion of the tens of billions of dollars of proceeds of crime that need to be laundered each year – including the $12 billion annually spent on illicit drugs such as cocaine. The vast majority is channelled into houses, apartments and
If you are curious about the differences in methodology between myself and the usual auction data providers, there is an explanation down the page. This week brought the strongest results for both Sydney and Melbourne since June 2023. Sydney recorded a sold to listed clearance rate of 48.6%, up from 44.1% last week and
Local Reads Senior home affairs official abused public office to get her future brother-in-law a job, Nacc finds – Guardian…absolute disgrace…. National Anti-Corruption Commission suppresses name of corrupt public servant – Ninefax Federal government commits $430 million to prop up Newcastle hydrogen hub – ABC Qantas executives slow to be seen after data breach affecting
Stock markets are having mixed reactions to the early morning passing of the Trump regime’s Big Billionaires Bill but are also hesitating around the blanket tariffs that are set to go into motion on the 1st August. The Orange Mussolini has resorted to just sending out letters instead of negotiating trade deals as he is
Victoria disease is the economic malady brought on by the immigration-led labour market expansion economic model run flat out by Labor governments. It puts population growth at the centre of GDP, which leads to endemic crush loading of all public services—including housing, transport, health, and education—driving up public debt as state governments fruitlessly attempt to
Just a few short days prior to May’s federal election, senior figures within the Coalition believed they were on course for victory and that the Albanese government would be the first one-term federal government since the Great Depression. They were absolutely correct that the election would be one for the record books, but unfortunately for