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MacroBusiness Tuesday, June 18, 2024 - 08:30 Source

Nobody does a bubble like Wall Street. The Market Ear has more. Overbought SPX is back to very overbought levels, but as we all know, overbought can stay in overbought for longer than most think possible. The question is whether overbought SPX even means anything these days? Refinitiv The world beyond SPX Rest of the

The post Stocks head for Heaven appeared first on MacroBusiness.

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Renew Economy Tuesday, June 18, 2024 - 07:55 Source
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Renew Economy Tuesday, June 18, 2024 - 07:50 Source
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MacroBusiness Tuesday, June 18, 2024 - 07:00 Source

Equifax’s Executive General Manager, Moses Samaha, warned that Australia’s SME sector is facing a spike in insolvencies alongside the rise in mortgage arrears. Equifax data has found that sole traders in construction are 60% more likely to be in early mortgage arrears versus the average consumer, whereas this figure is 75% for sole traders in

The post Home builders brace for another spike in insolvencies appeared first on MacroBusiness.

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MacroBusiness Tuesday, June 18, 2024 - 00:05 Source

A new UTS Survey on the Australia–China relationship shows that Australians are becoming increasingly negative towards Chinese investment in the nation’s real estate: Only 28% of Australians said that ‘Chinese investment in Australian residential real estate brings a lot of benefits for Australians (e.g., construction, new dwellings, jobs)’, a four-year low. Agreement with this statement

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MacroBusiness Tuesday, June 18, 2024 - 00:00 Source

Opposition leader making a good fist of energy: Dutton is right that Australia is an outlier among the top twenty economies regarding nuclear power, even though Germany and Italy do not have reactors. Indonesia and Saudi Arabia don’t, but they plan to, and Germany used to. What is more important is his point about gas.

The post Dutton nuclear is irrelevant without gas reservation appeared first on MacroBusiness.

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Club Troppo Monday, June 17, 2024 - 22:31 Source

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MacroBusiness Monday, June 17, 2024 - 17:27 Source

  Central Australian Sunset, Violet Teague, 1933, NGV   AUD/USD   EUR/USD   USD/JPY   GBP/USD   Gold   WTI   Brent   Australia 200   US S&P 500   UK 100   Japan 225  

The post Macro Afternoon: 17 June 2024 appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, June 17, 2024 - 17:14 Source

By Denis Hay Description: Easier to Buying a Politician Is it easier to buy a politician than a house in Australia? Explore the housing crisis and political influence, and how monetary sovereignty can help. Introduction Australia is grappling with two significant challenges: a burgeoning housing crisis and the ease with which political influence can be…

The post Is It Easier to Buy a Politician Than to Buy a House? appeared first on The AIM Network.

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Club Troppo Monday, June 17, 2024 - 15:57 Source

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Renew Economy Monday, June 17, 2024 - 15:07 Source

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Renew Economy Monday, June 17, 2024 - 14:11 Source
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Renew Economy Monday, June 17, 2024 - 14:01 Source
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MacroBusiness Monday, June 17, 2024 - 14:00 Source

New Zealand’s economy continues to plunge deeper into recession ahead of this week’s Q1 national accounts release. Recall that Westpac last week forecasted that aggregate GDP would fall by 0.2% in the March 2024 quarter, representing the fifth decline in the previous six quarters. If Westpac’s forecast comes to fruition, New Zealand’s GDP will have

The post Recession signals flash red for Reserve Bank appeared first on MacroBusiness.

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MacroBusiness Monday, June 17, 2024 - 13:30 Source

Global ratings agency S&P Global warns that planned international student enrolment caps will negatively impact Australian university rankings and research funding. “A government proposal to cap foreign enrolments could hit Australian universities hard. This is because the country’s university sector is among the most dependent in the world on international student revenue”, S&P Global said.

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MacroBusiness Monday, June 17, 2024 - 12:55 Source

Chinese Premier Li Qiang has gone the raw prawn with Australians: China has declared the bilateral relationship with Australia to be “back on track” ahead of a full day of activities in Adelaide involving Chinese Premier Li Qiang. Mr Qiang’s visit, the first since that of his predecessor Li Keqiang, included bilateral talks in Canberra

The post Scan the panda for surveillance tech appeared first on MacroBusiness.

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MacroBusiness Monday, June 17, 2024 - 12:30 Source

Ah yes, the fake left, so ably represented at The Guardian, is now celebrating Aussies eating rotting food: Grant Miles has rarely seen so much demand for discounted food in the 30 years since he opened his first Cheaper Buy Miles store in the Melbourne suburb of Footscray. “There are days we can’t fit any

The post The Guardian: Let them eat garbage appeared first on MacroBusiness.

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MacroBusiness Monday, June 17, 2024 - 12:16 Source

Back to 2010 levels and still falling for ANZ-Indeed job ads: ANZ-Indeed Australian Job Ads declined 2.1% m/m in May, and the series is down 8.2% since the end of last year. More to come as Treasurer Chalmers’ endless per capita recession guts two-thirds of the economy. Expect wages to keep falling, too: It is

The post Job ads keep falling appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, June 17, 2024 - 12:13 Source

RE-Alliance and Community Power Agency Media Release Australia needs bipartisan support for a plan to help regional communities to work with and benefit from renewable energy infrastructure in regional Australia. RE-Alliance and Community Power Agency have been working for more than a decade with regional communities hosting large-scale renewable energy projects and have solutions ready…

The post ‘Let’s get on with it’: Regions want real solutions, not politics appeared first on The AIM Network.

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MacroBusiness Monday, June 17, 2024 - 12:00 Source

Albo’s new energy shock rages on with gas at $16G, 500% higher than historical averages: As night follows day, power prices are through the roof: Meanwhile, Institute for Energy Economics and Financial Analysis (IEEFA) has exposed an enormous Japanese rort of Aussie gas. Takayuki Ueda, CEO of INPEX, criticized the Australian government’s Australian Domestic Gas

The post Japan and Albo rort Aussies of gas appeared first on MacroBusiness.

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MacroBusiness Monday, June 17, 2024 - 11:30 Source

In its latest Consumer Credit Stress Barometer, illion found that younger Australians, who are mostly excluded from home ownership, are struggling to ‘get ahead’ financially due to higher rent and personal borrowing servicing costs. After recovering in the second half of 2023, Australian credit default risk has dropped to October 2023 levels, with February and

The post Credit shock hits young Australians appeared first on MacroBusiness.

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Renew Economy Monday, June 17, 2024 - 11:00 Source
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MacroBusiness Monday, June 17, 2024 - 11:00 Source

Chinese banks issued 950bn yuan in new yuan loans last month, up from 730bn in April, based on PBOC statistics provided on Friday. Consensus was 1.255 trillion yuan. After a rare 72 billion yuan decline in April, Total Social Financing surged 2.07tr versus 2.2tr yuan for May, driven largely by government bonds. Mortgages rose 75.7bn

The post Chinese credit still weak appeared first on MacroBusiness.

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The Australian Independent Media Network Monday, June 17, 2024 - 10:41 Source

It is very difficult to predict the future fortunes of the global populist nativism that has been threatening democratic projects around the world. Far-right parties continued to gain ground in the European Parliament elections. Trump is overtly embracing the authoritarian themes set out in the Project 2025 roadmap, while his Republican allies pursue extreme policy…

The post Dutton’s petrostate and the global far right appeared first on The AIM Network.

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MacroBusiness Monday, June 17, 2024 - 10:30 Source

The Market Ear asks the question. Should we care? French stocks suffer the biggest weekly decline since March 2022. Do we have to pretend to be interested? @barchart French default The cost of insuring against a French default (CDS price) has shot up by 16bps this week. The probability of default is priced at 3.5%.

The post Does France matter to stocks? appeared first on MacroBusiness.

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MacroBusiness Monday, June 17, 2024 - 10:00 Source

In the wake of Thursday’s obscene net overseas migration (NOM) numbers from the Australian Bureau of Statistics (ABS), the new chief propagandist at the Australian National University (ANU), Professor Alan Gamlen, quickly swung back into damage control: ANU Professor Alan Gamlen, a migration expert, told the ABC that these many and varied determinants meant NOM

The post ANU chief propagandist lies on migration surge appeared first on MacroBusiness.

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xkcd.com Monday, June 17, 2024 - 10:00 Source

In contrast to Pascal's Wager Triangle, Pascal's Triangle Wager argues that maybe God wants you to draw a triangle of numbers where each one is the sum of the two numbers above it, so you probably should, just in case.

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The Australian Independent Media Network Monday, June 17, 2024 - 09:52 Source

By Bert Hetebry Growing up can be fun. As a growing boy, the adventures get bigger as bodies grow, new skills are learned, kicking a football around, hitting a cricket ball over the fence, swimming, learning to surf, all coached by a loving father. Or so the fable of growing up plays out. But then…

The post Boys will be boys… sounds like an excuse to me appeared first on The AIM Network.

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Cheeseburger Gothic Monday, June 17, 2024 - 09:46 Source

I flew down last Thursday to do some stuff and got back yesterday on an early flight. I was dreading the 4.30 a.m. wake-up, but to be honest, I normally wake up then anyway, dragged into consciousness by my increasingly irritable bladder. So it wasn’t that big a deal. It turns out that travelling early on a Sunday morning is a helluva lot less frantic than going later in the day. I even got an empty seat next to me.

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MacroBusiness Monday, June 17, 2024 - 09:30 Source

Nine is freaking out: Voters have marked down Labor sharply over its handling of climate policy and the cost of living, just days after Peter Dutton reignited the climate wars by claiming the government’s renewable energy target was unachievable and would increase financial hardship. The latest The Australian Financial Review/Freshwater Strategy Poll shows Anthony Albanese

The post Albonomics crashes Labor polling appeared first on MacroBusiness.

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