Blogotariat

Academy Securities asks the question. I don’t think the Dems are stupid enough to abandon the One China policy so the wolf warriors are getting awfully overexcited. What has Happened: •China has issued harsh warnings regarding the prospect of House Speaker Pelosi visiting Taiwan as part of her Congressional Asia tour.•While not confirmed by the

The post The face that launched a thousand Dongfeng missiles appeared first on MacroBusiness.

The $0.221-per-litre fuel excise reduction is scheduled to end on 28 September. The Coalition stated in its pre-election Budget in March that the fuel excise cut had to be temporary due to its cost, with the Coalition also demanding budget repair from the new Albanese Government. Opposition Leader Peter Dutton is now urging Labor to

The post Contradictory Coalition wants fuel excise cut extended appeared first on MacroBusiness.

Until now, I’ve always thought about mental health as the absence of mental illness, much as I have typically thought about the absence of physical illness. In both cases, health is the default state or unmarked category.

But as I have gone through the Covid pandemic, and become more pessimistic about the state of the world, I have reached the view that a better analogy is with physical fitness. That is, something that requires sustained effort to achieve and maintain, and is rarely fully achieved.

Backward-looking earnings are fine. BofA: Better-than-feared 3% beat; guidance surprisingly positive279 S&P 500 companies comprising 71% of index earnings have reported. 2Q EPS is tracking a solid 3% beat at $56.87 vs. consensus $55.35, while 2H EPS has been revised down 2% since July 1. Overall, results were better than feared, especially with more above-consensus

The post Stock rally a dead cat bounce appeared first on MacroBusiness.

The ANZ-Roy Morgan consumer confidence index has been released, with the index bouncing 2.1% last week – the third consecutive weekly rise – on lower petrol prices: The main movements were as follows: Consumer confidence gained 2.1% last week, its third consecutive weekly increase. Among the mainland states, confidence improved in Queensland and SA, while

After CoreLogic’s 5-city daily index recorded its biggest monthly decline in nearly 40 years, AMP Capital’s chief economist, Shane Oliver, entered full doomsday mode, tipping possible 4% monthly falls for Sydney: “The pace of decline is gathering speed, so it’s conceivable we could be seeing monthly declines of 4 per cent in a few months

The post The Kouk soothes as Aussie house prices tank appeared first on MacroBusiness.

Missed this one yesterday. A big fall is inevitable from here: ANZ Australian Job Ads decreased 1.1% m/m in July. Even if labour demand growth is starting to ease, we don’t think this will translate immediately into rising underutilisation. In fact, we now forecast unemployment to fall below 3% by early-2023. @cfbirch @arindam_chky #ausecon pic.twitter.com/uiQ3RevUYj

The post ANZ job ads top out appeared first on MacroBusiness.

The Melbourne Institute’s monthly inflation gauge rose by 1.2% in July. It’s headline inflation rate was 5.4%, while the Reserve Bank’s preferred measure of underlying inflation rose by 0.9% during the month to be 3.9% higher in the year to July. It was the highest rate of inflation recorded by the index in two decades.

The post July inflation gauge hits 20-year record appeared first on MacroBusiness.

Pantheon with a nice note. Hoocoodnode? —————————————————————————————————– Reality Reasserts Itself in China, as the Reopening Rebound Fades China’s reopening boost is already fading, and although stimulus is coming through in the data, it doesn’t seem to be enough to offset the many headwinds plaguing China’s economy. We should still see an improvement in Q3, relative

The post China recovery ends in trade shock appeared first on MacroBusiness.

It is one of the great ironies of today’s hopelessly corrupted ideological soup. Those who cheerlead for “business” over “markets” are often the victims of their own useful idiocy. Nowhere is this more true than at the Australian Financial Review. For the past decade, the “Fin” has transformed from intellectual liberal democratic champion to dumbed

The post AFR gas cartel grovelling will destroy Nine’s profits appeared first on MacroBusiness.

The thing is, cartels look all tough on the outside. But, they are made up of soft caramel on the inside. When you call them out, they melt like Fantails in the hot sun. As the Albanese Government has steeled itself to call out these bullies in the past week, guess what? The local gas

The post Gas and power prices crash as cartel bullies panic appeared first on MacroBusiness.

Are we being lied to about the origins of the pandemic?