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MacroBusiness Friday, July 1, 2022 - 00:01 Source

Global Macro / Markets / Investing: Oil slides 2% after record yearly crude production and ramped up refining activity. – Reuters Pentagon Report Finds Concerning Vulnerabilities on Blockchain – Wall Street Pro Crypto Hedge Fund Three Arrows Ordered by Court to Liquidate – WSJ Why some fear that big tech data could become a tool

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Your Democracy Thursday, June 30, 2022 - 16:45 Source

Imagine living in a country where armed soldiers crash through doors to arrest and imprison citizens merely for criticizing government officials.

Imagine that in this very same country, you’re watched all the time, and if you look even a little bit suspicious, the police stop and frisk you or pull you over to search you on the off chance you’re doing something illegal.

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MacroBusiness Thursday, June 30, 2022 - 16:30 Source

Almost a full sea of red across Asian share markets as the souring risk sentiment on Wall Street overnight spreads to most risk markets, although China is holding up well despite its latest PMI reading. The USD is continuing its surge in strength against most of the undollars, with the Australian dollar putting in some

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MacroBusiness Thursday, June 30, 2022 - 14:30 Source

After spending month’s attacking the Morrison Government’s JobKeeper waste, The AFR’s Joe Aston has turned his sites on the ‘Teal’ independents for sooking about only receiving five parliamentary staff rather than eight following the Albanese Government’s decision to reduce their allocation of personal advisers to one each (plus four electorate advisers): Five days have elapsed,

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MacroBusiness Thursday, June 30, 2022 - 14:00 Source

By Stephen Halmarick, Chief Economist at CBA: Key Points: A stronger economy than that expected at the time ofthe March 2022/23 Budget is helping deliver a better-than-expected budget outcome for 2021/22 –as we anticipated. As signalled by the new Treasurer, it will be important for fiscal policy to tighten along with monetary policy to help

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The Australian Independent Media Network Thursday, June 30, 2022 - 13:38 Source

We know you are new in your job, Tony and face not only the huge demands of your portfolio but a backlog of catastrophic ineptitude and deceit left you by a Morrison government whose criminal negligence of health and welfare was rivalled only by its pandering to corporate oligarchs and its bent for wholesale corruption,…

The post Scrap the digital workhouse. An open letter to Tony Burke. appeared first on The AIM Network.

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MacroBusiness Thursday, June 30, 2022 - 13:30 Source

Think you’ve got anonymity using BTC? Think Again. Discover with the story. — Bitcoin’s remarkable growth in value is a curious story. Launched in March 2009 worth $0, Bitcoin reached parity with the dollar in September 2011. In November last year it peaked in value at over $60,000 and at the time of writing its

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Your Democracy Thursday, June 30, 2022 - 13:26 Source

Russia’s objectives in Ukraine have not changed, Russian President Vladimir Putin said on Wednesday during a press conference in Ashgabat, Turkmenistan. 

“Nothing has changed,” Putin confirmed, saying that the final goal is “to liberate Donbass, to protect these people and to create conditions that would guarantee the safety of Russia itself. That’s it.”

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MacroBusiness Thursday, June 30, 2022 - 13:00 Source

The Australian Bureau of Statistics (ABS) has today released job vacancy data for the May quarter, with the total number of vacancies soaring to 480,100 – roughly double the pre-COVID level: All states and territories have experienced a sharp lift in job vacancies over the pandemic: The next chart shows the increase in job vacancies

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MacroBusiness Thursday, June 30, 2022 - 12:30 Source

The Reserve Bank of Australia (RBA) has released credit growth data for the month of May, which captures the first 0.25% hike in the official cash rate. Mortgage credit growth rose by 0.6% over May, with the quarterly rate of growth rebounding slightly to 1.8%: The quarterly rebound was driven by investors, which hit their

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Renew Economy Thursday, June 30, 2022 - 12:26 Source

An electric vehicle with AGL Branding

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MacroBusiness Thursday, June 30, 2022 - 12:05 Source

Making waves in economic circles earlier this year, Zoltan Pozsar mounted a case for commodities to take over the function of reserve currencies, and an end to Bretton Woods II. The Financial Times profiled him in “Meet Zoltan, the sellside Jules Verne”, highlighting #zoltan has become a trending topic after each post. In this investment

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MacroBusiness Thursday, June 30, 2022 - 12:00 Source

Earlier this month I argued that the Reserve Bank of Australia’s (RBA) aggressive interest rate hikes risk delivering “the recession we don’t have to have”, by smashing household consumption and ergo the economy. Today, Alan Kohler has taken a similar position, arguing that “a recession we don’t have to have is coming, and it will

The post Kohler: Lunatic RBA will drive Australia into recession appeared first on MacroBusiness.

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MacroBusiness Thursday, June 30, 2022 - 11:30 Source

This is an essential breakdown before any Fed pivot. Recent price volatility has been leaning to the downside so we are getting there barring any further supply shocks. The Fed needs sub-$80 oil and preferably sub-$60 because it’s going to pop the moment it flips. Any lower would shut off US which it will not

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Your Democracy Thursday, June 30, 2022 - 11:23 Source

One prince rides out from the West, the other from the East, destined to do battle until Judgment Day decrees there must come a time of peace. Ancient legends have always fascinated me, and it has always seemed that this is always with us: the past, the present and the future all knotted together in a repetitive loop.

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MacroBusiness Thursday, June 30, 2022 - 11:00 Source

By Gareth Aird, head of Australian economics at CBA: Key Points: The RBA is widely anticipated to raise the cash rate at the July Board meeting. We expect the RBA to increase the cash rate by 50bp in July, which would take the cash rate target to 1.35%. The Governor will likely refer to the

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MacroBusiness Thursday, June 30, 2022 - 10:30 Source

Excellent stuff from The Market Ear today. The MB thesis is catching on. — US 10 year update So the 10 year reversed on the huge 3% level a few sessions ago, managed retracing around 50% of the move lower from highs and is now approaching the trend line that comes in at 3.10%. A

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MacroBusiness Thursday, June 30, 2022 - 10:00 Source

The ferrous complex cooled on June 29, 2022: As noted in recent days, we are seeing a jump in Chines property sales though it is very likely pent-up demand and there are seasonality issues with holiday timing: Now, some are seeing the bottom: The recent comments by Yu Liang, Chairman of property developer China Vanke

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Your Democracy Thursday, June 30, 2022 - 09:58 Source

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MacroBusiness Thursday, June 30, 2022 - 09:40 Source

DXY launched overnight as EUR swooned on peaky German inflation: AUD was shoved right back to the cliff’s edge: Oil fell though! Metals held on: And miners: EM stocks too: But the bid daddy of them all, junk spreads, are the highway to hell: Despite easing Treasury yields: Which helped stocks to not fall too

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Your Democracy Thursday, June 30, 2022 - 09:33 Source

UK Foreign Secretary Liz Truss told a hearing on Tuesday that she has raised human rights concerns with Britain’s allies in the Gulf, but when pressed couldn’t name a single time she did. Despite insisting that the UK should oppose “authoritarian regimes” around the world, Truss said that Saudi Arabia and other oil-producing totalitarian states are “partners.”

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MacroBusiness Thursday, June 30, 2022 - 09:30 Source

Risk sentiment lacks confidence with the absence of volatility on equity markets overnight possibly signalling downside action later in today’s session as Wall Street barely put in scratch sessions after their previous steep falls. German CPI was lower than expected, but this was offset by lower US GDP prints, with concern over personal consumption figures

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MacroBusiness Thursday, June 30, 2022 - 09:20 Source

PM Albo does not sound like a man readying any kind of appropriate policy response to the Australian energy crisis. On the contrary: “I firmly believe we can solve the biggest challenge of our time, while laying the groundwork for long-term economic security and shared prosperity,” Mr Albanese will say, according to an advance copy

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MacroBusiness Thursday, June 30, 2022 - 09:06 Source

CoreLogic’s 5-City dwelling value results for June are out with values across the major capitals falling for the second consecutive month by 0.9%. It was the sharpest monthly price decline since February 2019: The losses were driven by Sydney and Melbourne, where values plunged by 1.6% and 1.1% respectively over the month. By contrast, value

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Renew Economy Thursday, June 30, 2022 - 09:01 Source

 James Zadro/Greenpeace).

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Your Democracy Thursday, June 30, 2022 - 06:48 Source

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Renew Economy Thursday, June 30, 2022 - 00:30 Source

 Greenspot/Liberty Industrial).

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Renew Economy Thursday, June 30, 2022 - 00:10 Source

Wind and solar face curtailment rates of up to 20 per cent in a high renewables grid, because it may no longer be economic to store excess po

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MacroBusiness Thursday, June 30, 2022 - 00:05 Source

A new cost of living survey conducted by online financial brokers Savvy suggests that 26% of Australian mortgage holders will experience mortgage stress, defined as a homeowner or household using more than 30% of their net income to meet mortgage repayments, following the Reserve Bank of Australia’s (RBA) consecutive rate rises of 0.75%. Mortgage stress

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MacroBusiness Thursday, June 30, 2022 - 00:03 Source

The big business shills at The AFR View have penned another spurious article calling for Australia to triple its population to 75 million people over the next 70 years: By census night in August last year, Australia’s population had swelled to 25.5 million. That is triple the paltry 8 million people who inhabited this island-continent

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