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MacroBusiness Friday, March 8, 2024 - 10:00 Source

Interesting charts by Justin Fabo at Antipodean Macro demonstrate how Australians have been particularly hard-hit by rising mortgage rates. Although average interest rates on new housing loans have risen to around the average of developed nations: The average interest rate on outstanding housing loans is among the highest in the developed world, behind Norway: Separate

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MacroBusiness Friday, March 8, 2024 - 09:30 Source

The Market Ear with the latest on equity positioning. Are we playing that 1995 analogy after all? We pointed out this analogy in February more as a “fun” right tail possibility than a realistic scenario, but imagine if this plays out? Refinitiv The world is not enough You know things are extreme when SOX is

The post When in a bull market, be bullish appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 09:00 Source

Confidence continues to float equity markets higher with the latest ECB meeting adding fuel to the fire with Wall Street picking up pace and dragging European shares along with it. The USD continues to fall alongside bond yields fell back on lower inflation expectations with the Australian dollar rallying again through the 66 cent level

The post Macro Morning appeared first on MacroBusiness.

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Renew Economy Friday, March 8, 2024 - 08:35 Source
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MacroBusiness Friday, March 8, 2024 - 08:30 Source

DXY sagged last night: AUD blasted off: With JPY: Brent is a bust, gold is running: Dr Copper want to break out: Miners meh: EM might be bulling up: Junk yawned: As yields firmed: Stocks only go up: It was an avalanche of positives: Lots of dovish Fed speak. ECB cut inflation outlook and is

The post Australian dollar blasts off appeared first on MacroBusiness.

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MacroBusiness Friday, March 8, 2024 - 08:00 Source

Rebar futures hung on yesterday: But iron ore futures fell to range lows again last night on Dalian: As did coking coal: The problem is summed nicely by a few Macquarie charts. Steel output is weak: And mill margins are even weaker: Chinese imports of iron ore were strong over Jan/Feb at 105mt average per

The post Iron ore teeters at the cliff appeared first on MacroBusiness.

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Renew Economy Friday, March 8, 2024 - 07:35 Source
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The Tally Room Friday, March 8, 2024 - 07:30 Source

Ben is joined by Alexis Pink from community radio station 4ZZZ and Andrew Messenger from the Guardian Australia to discuss the upcoming council elections across Queensland and the two state by-elections to be held on the same day.

We discuss the Brisbane City Council campaign and then touch on a number of other interesting council races and the by-elections.

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MacroBusiness Friday, March 8, 2024 - 07:00 Source

This cannot stand: Energy companies have won a critical battle with the country’s market regulator over household and business bills as authorities move to prop-up a national reference price, a move that will bolster corporate margins. The Australian earlier this year revealed how a spate of energy companies had urged the Australian Energy Regulator (AER)

The post From energy “superpower” to superidiot appeared first on MacroBusiness.

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Your Democracy Friday, March 8, 2024 - 05:48 Source

The modern world is “unfair,” but social disparities and global inequalities can be addressed by establishing a multipolar world, Russian President Vladimir Putin said on Wednesday.

Speaking at the closing ceremony of the World Youth Festival (WYF) in Sochi, Putin said: “There are no equal conditions in the world for everyone. This is the main injustice of the current world order.”

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Your Democracy Friday, March 8, 2024 - 04:46 Source

NATO’s ongoing ‘Steadfast Defender 2024’ maneuvers are heightening tensions globally by enacting a military confrontation with Moscow, the secretary of the Security Council of Russia has said. Nikolay Patrushev also cited the alliance’s growing military spending as an indication of its “increasingly aggressive nature.”

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MacroBusiness Friday, March 8, 2024 - 00:05 Source

Recall that the Reserve Bank of Australia’s (RBA) February Statement of Monetary Policy (SoMP) projected that Australia’s unemployment rate would end 2024 at 4.3% and only peak at 4.4% next year: Shortly after these forecasts were released, the Australian Bureau of Statistics (ABS) released the January labour force survey, which revealed that Australia’s unemployment rate

The post Australian unemployment about to rocket appeared first on MacroBusiness.

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Your Democracy Thursday, March 7, 2024 - 19:23 Source

The United States was unable to manage the responsibility of being the world’s only superpower after the Cold War ended, Russian President Vladimir Putin said at the World Youth Festival (WYF) on Wednesday.

The WYF runs in Sochi from March 1-7, hosting some 20,000 young people from Russia and abroad for sporting and cultural events, competitions and panel discussions.

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MacroBusiness Thursday, March 7, 2024 - 16:30 Source

Asian share markets are putting in mixed sessions today despite the strong response overnight on Wall Street with the USD falling amid lower bond yields. Hawkish comments from the BOJ haven’t helped steady nerves in Japan with Yen soaring higher while the Australian dollar is also on a tear, having recovered the post GDP print

The post Macro Afternoon appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, March 7, 2024 - 16:26 Source

The Construction Forestry Maritime Employees Union (CFMEU) has called for the federal government to expand build-to-rent-to-buy schemes. The Greens’ housing policy, released yesterday, calls for the government to build 360,000 homes over five years that would be available to rent and buy at discounted rates. CFMEU National Secretary Zach Smith said the Federal Labor Government…

The post CFMEU backs build-rent-buy scheme expansion as part of housing fix appeared first on The AIM Network.

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Cheeseburger Gothic Thursday, March 7, 2024 - 15:29 Source

One of my fave newsletters, Jonathon V Last’s The Triad, pointed me at this very unexpected piece of neo-gonzo reportage at Road and Track magazine’s website. They commissioned an honest-to-goddamn commie, Kate Wagner, to give them her honest-to-goddamned take on an F1 meet. Unsurprisingly, it didn’t last long. Just a few hours after publication it was gone. A pity. I’d pay to read it, just because of the way it makes your head go boing. It reminds me of Hunter S. Thompson’s Kentucky Derby piece in that way.

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Renew Economy Thursday, March 7, 2024 - 14:44 Source
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Your Democracy Thursday, March 7, 2024 - 14:23 Source

Media Freakout About GOP Hating America and Whether This is the "Last Election," w/ Vivek Ramaswamy

https://www.youtube.com/watch?v=tlKnZ5q4siM

 

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MacroBusiness Thursday, March 7, 2024 - 14:00 Source

But is it true? A former Andrews government minister has told state parliament he suspects ex-federal Labor MP Anthony Byrne is the politician ASIO ­revealed as betraying Australia to a foreign power. Upper House MP Adem Somyurek used parliamentary privilege on Wednesday to call on the nation’s intelligence agency to investigate the former Labor MP

The post China spy named. Socceroos turned Beijing pawns appeared first on MacroBusiness.

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Renew Economy Thursday, March 7, 2024 - 13:59 Source
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Renew Economy Thursday, March 7, 2024 - 13:56 Source
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MacroBusiness Thursday, March 7, 2024 - 13:30 Source

I am a gold trader from way back. It is the macro metal, so I always found it relatively easy to time the market, but I no longer trust it. The reason is BTC. Since there is now an ersatz, digital gold, the real thing is exposed to different money flows. There is a loose

The post Goodbye gold appeared first on MacroBusiness.

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Renew Economy Thursday, March 7, 2024 - 13:09 Source
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MacroBusiness Thursday, March 7, 2024 - 13:00 Source

The New Daily reports that the Coalition may relaunch its policy of allowing Aussies raid their superannuation nest eggs to purchase a home if elected. This comes after the policy’s biggest advocate, Andrew Bragg, was promoted to shadow assistant minister for housing on Tuesday. Bragg has repeatedly called for Aussies to be allowed to access

The post Coalition pours superannuation fuel on housing bonfire appeared first on MacroBusiness.

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The Australian Independent Media Network Thursday, March 7, 2024 - 12:50 Source

ActionAid Media Release With one-quarter of Gaza’s population being one step away from famine and more than a dozen children dying from malnutrition in the north of the enclave, ActionAid is warning that an already extremely strained humanitarian system will face total collapse amidst the apparent looming offensive of Rafah. A senior UN aid official…

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Renew Economy Thursday, March 7, 2024 - 12:43 Source
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Renew Economy Thursday, March 7, 2024 - 12:34 Source
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MacroBusiness Thursday, March 7, 2024 - 12:30 Source

Over the last three years, Australia has experienced the biggest boom in mortgage refinances in its history. Monthly mortgage refinances peaked in mid-2023 at $21.5 billion, up from roughly $10 billion in mid-2020, according to the Australian Bureau of Statistics. However, the mortgage refinancing boom has well and truly ended, with total refinance activity declining

The post Mortgage refinancing boom turns bust appeared first on MacroBusiness.

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Renew Economy Thursday, March 7, 2024 - 12:20 Source
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MacroBusiness Thursday, March 7, 2024 - 12:05 Source

Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen welcomes economist Leith Van Onselen, for a detailed dig into Australian GDP, what it is saying about economic conditions and what to expect for 2024. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen

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