Blogotariat

Anyone who has read this site for any length of time knows that there are stages in every iron ore cycle that repeat like clockwork. Today we are entering the “cocounts” stage in which the equity market ignores the bleeding obvious in the ongoing collapse of iron ore prices. Shanghai rebar has broken seven-year support

The post Iron ore miners turn to coconuts appeared first on MacroBusiness.

With AUKUS, the pride of politicians has become an obstacle to reaching the best solution to the ‘national security’ conundrum. In the end, it could be that ego-driven reluctance to shift from entrenched positions results in the Australian people being delivered a disaster.

AUKUS and the pride of politicians    By Nick Deane

Young Sydneysiders have no housing future. The city’s median house price has passed $1.6 million, according to Domain: As a result, it will take a typical single school leaver 46 years to save a 20% deposit on a median Sydney house, according to Finder:   To nobody’s surprise, a new study from the University of

The post Young Sydneysiders have no housing future appeared first on MacroBusiness.

DXY is holding: AUD was smoked again: JPY is confirming risk off: Oil and gold held: Copper bull oh dear: Big miners are in all sorts: EM false break: Junk still happy with fundamentals: The curve steepened: Stock were smashed: Charlie McElligott has a good read through on the price action: Risk sentiment remains fragile,

The post Australian dollar smoked with stocks appeared first on MacroBusiness.

Labour must repeal the laws that led to shockingly disproportionate prison sentences for environmental protesters.

By George Monbiot, published in the Guardian 19th July 2024

Canadian unemployment is climbing sharply as labour supply piles up amid a deteriorating economy. Canada’s official unemployment rate jumped to 6.4% in June, the highest level (outside the pandemic shock) in almost seven years. The unemployment rate has jumped by 1.0 from a year ago and by 1.6% from the cycle low —an increase typically

The post Canada’s labour market collapse an omen for Australia appeared first on MacroBusiness.

Farmers want to force renewable energy developers to maintain the agricultural productivity of farming land, and to pay more for hosting.

By Andrew Klein   One of the most dangerous, evil myths permeating western culture is the idea that good things happen to good people and bad shit happens to bad people. This mindset is rarely questioned; it’s become an integral part of the western world view. Hand in hand with the callous indifference created by…

The post Violence trickles down, and the myths that enable it appeared first on The AIM Network.

Asian share markets all finished in the red as overnight signalling from risk markets continues to provide a sour mood across the complex. US politics continued to dominate risk taking, with Wall Street pulling back overnight as European shares look equally shaky. The USD remains strong against the majors except Yen which continues to appreciate

The post Macro Afternoon appeared first on MacroBusiness.

NATO’s plans to establish a foothold in Asia to counter China better is nothing more than a sure recipe for disaster. Coming to Asia and beating war drums against a country that has not attacked anyone is akin to pushing it to take any and all necessary steps to protect its interests. NATO, thus, is pushing China to shun its regionally focused pacificism in favour of a more belligerent stance.

A high-level EU foreign affairs summit scheduled for August will be moved from Hungary to Brussels, the bloc’ top diplomat, Josep Borrell, confirmed on Monday.

Last week’s benign Q2 CPI print has New Zealand’s economists urging the Reserve Bank to commence an interest rate easing cycle. New Zealand’s economy is experiencing its heaviest economic contraction in decades. Real per capita GDP fell for six consecutive quarters to Q1, down 4.3% from the late 2022 peak. That decline was larger than

The post Reserve Bank urged by economists to cut rates appeared first on MacroBusiness.