Blogotariat

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,

The post Joe Aston rips teal independents’ pork barreling hypocrisy appeared first on MacroBusiness.

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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.

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.”

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

The post Aussie property investors defy interest rate gloom appeared first on MacroBusiness.

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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

The post MB Fund Podcast: A Return to the Gold Standard? appeared first on MacroBusiness.

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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

The post Oil volatility probes the downside appeared first on MacroBusiness.

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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

The post CBA: Buckle up for back-to-back 0.5% interest rate hikes appeared first on MacroBusiness.

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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

The post Daily iron ore price update (Chinese property bottom?) appeared first on MacroBusiness.

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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

The post Australian dollar on the highway to junk hell appeared first on MacroBusiness.

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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

The post Macro Morning appeared first on MacroBusiness.

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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

The post Sydney house prices are in freefall appeared first on MacroBusiness.

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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