Blogotariat

Following the meeting of the Heads of Member States of the Shanghai Cooperation Organization, held on 15 and 16 September in the Uzbek city of Samarkand, Turkish President Recep Tayyip Erdoğan told journalists that his country aims to join the SCO.

This has been a week of discovery for me. For example, did you realise that the late Queen Elizabeth reign lasted longer in terms of hours than the ABC coverage of her death? Incredible, I know. Something else I discovered was that Albo and King Chuck had a bit of a natter about climate change…

The post Why Doesn’t One Nation Go Back Where It Came From! appeared first on The AIM Network.

Asian stocks are slipping as we start a new trading week with caution abound going into the London session as UK markets are closed for the Queen’s funeral. The USD remains super strong against the major currency pairs  with Euro hovering around parity while the Australian dollar retraced below the 67 cent level again. Meanwhile

The post Macro Afternoon appeared first on MacroBusiness.

For the slow-moving that is. It’s been obvious for eight months in my view. Now Goldman has made it there, though it is still too bullish. We have raised our fed funds rate forecast by 75bp over the last two weeks, and now expect that the FOMC will hike by 75bp in September, 50bp in

The post US recession becomes the base case appeared first on MacroBusiness.

The Herald’s View has called on the Albanese Government to return the federal budget to surplus by, among other things, lifting personal income taxes: Australia had no choice but to run a big deficit during the pandemic, but it should not be running a deficit now when the economy is booming. Unemployment is lower than

The post Use mining super profits taxes to fix budget deficit appeared first on MacroBusiness.

I’ve recently been made aware of a process in the Northern Territory which is reviewing the ward structures of local councils following last year’s council elections.

I’m particularly concerned by a proposal to break up the City of Palmerston into tiny wards, seemingly as a solution to an informal voting problem, and to foreshadow a similar change in Alice Springs for a future review.

Michael Hartnett of BofA leads the market chorus. I agree with most of the below though I am still unconvinced about the secular nature of global inflation and commodities. China going ex-growth is an enormous problem for that thesis.  Scores on the Doors: commodities 34.5%, oil 17.6%, US$14.6%, cash 0.5%, gold 7.1%, HY-14.9%, IG-17.6%, stocks-18%,

The post Hartnett: Bear market will end when… appeared first on MacroBusiness.

Over many months MB has documented the rental crisis sweeping across Australia. This crisis has come to the fore this month with CoreLogic recording the strongest rental growth on record in August, with rents soaring 10% year-on-year nationally: At the same time, SQM Research has recorded the tightest rental vacancies on record, with the vacancy

The post International students drive rents into stratosphere appeared first on MacroBusiness.

The Queensland government last week convened a housing summit to deliver affordable homes. The summit will look at greenfield development as a way of solving a lack of housing in the state’s south-east. However, Dr Cameron Murray believes such greenfield development will not help reduce house prices: “You can rezone and do whatever you want

The post Developers starve housing supply to drive up prices appeared first on MacroBusiness.

The ferrous market was soft on September 16, 2022: Chinese data presented on Friday comes from the Book of Revelations. The Chinese property market is melting down. Sales of land and floor area are down two-thirds from COVID peaks. The rolling annual starts chart with sales used as a leading indicator for steel demand is

The post Daily iron ore price update (Armageddon) appeared first on MacroBusiness.