DXY was smashed Trump Day 1. AUID rose from the dead. Even the lead boots rose. Gold and oil hosed off. Copper too. Miners are laggards. Make EM great again? Junk firming. Yields not so impressed. Stocks to the moon. Trump 2.0 is here and it started slowly on tariffs, lifting markets. President Donald Trump held off
The Circus is now officially in town and with that came a slam back of the USD as tariff talk was walked back a bit, not helped by a holiday on Wall Street, with the less talked about crypto pumping and dumping the better! European shares surged despite the lift in Euro which jumped straight
The Reserve Bank of Australia’s (RBA) aggressive interest rate hikes have done precisely what they were designed to: smash demand. The impact has been keenly felt across Australia’s private (market) sector, where activity has stalled. Vast numbers of firms have gone into insolvency over the past two years, with the construction and hospitality industries most
Queenscliff Pier, Sunrise, Victoria AUD/USD EUR/USD USD/JPY GBP/USD GOLD WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
The post Macro Afternoon: 20 January 2025 appeared first on MacroBusiness.
Michael Hartnett at BofA with another terrific note. Zeitgeist: “20-year corporate bonds now yielding 6.3%…you would think with stocks up 20% past 2years pension funds would be looking to park some of those gains in bonds” The Biggest Picture: at no time in the past 90 years has 10-year rolling return from USTreasuries been negative.
The Market Ear with the latest equity internals. 1 – Long gone GS US Equity Sentiment Indicator of investor positioning has crashed all the way back to zero. Source: Goldman 2 – Neutral super-tanker The BofA Bull & Bear Indicator, the super-tanker of indicators, is at 3.8 which means that the signal is Neutral. Source: Flow
My god, the fake left has no idea what it is doing. Worse than that, it is so lost ideologically and economically that it is actively creating the very world it purports to fight. Check out the mush published at the fake left HQ Guardian on the weekend by “immigration correspondent” Ben Doherty. Could a
The migrants are still pouring in, and the housing shortage is getting worse, but, as they say, “you can’t leverage rents” so affordability is a real constraint. Thus the rent shock has run into a brick wall. Goldman has more. Weekly data from SQM suggest sequential growth in advertised rents continues toslow, with advertised rents
For ten years, MB has demanded East Coast gas reservation, painstakingly describing why it is necessary no matter what side of politics or the renewable/nuclear divide you stand on. Throughout, we have watched in astonishment as the MSM failed to join these basic dots, either not discussing it or falling in behind party political lines,
The Chinese depression is proving to be a real barnstormer. When you can write your own GDP numbers, then why not? Quarterly GDP was 1.6% and annual 5.2%. For December, industrial production was cooking at 6.2% year on year. Fixed asset investment was solid 3.2%. And retail sales 3.7%. Hilariously, the GDP deflator scorched higher