Blogotariat

Let’s kick off with the November monthly CPI: The monthly CPI indicator rose 7.3% in the twelve months to November. The most significant price rises were Housing (+9.6 per cent), Food and non-alcoholic beverages (+9.4 per cent), Transport (+9.0 per cent), Furniture, household equipment and services (+8.4 per cent) and Recreation and culture (+5.8 per cent).

The post Aussie data ends the year hot appeared first on MacroBusiness.

I haven’t agreed with JPM’s Marko Kolanovic on much for a year but this is more like it. Cross-asset Strategy:  The ECB will likely remain focused on inflation and is unlikely to stop until policy rates are sufficiently far into restrictive territory. This should weigh on European equities which are trading close to cycle highs

The post Buy China, sell Europe appeared first on MacroBusiness.

This is very weak but temporary owing to the COVID rip. Still, it means the growth rebound ain’t coming any time soon given transmission lags. Goldman wraps the December Chinese credit data. Bottom line: December credit data were mixed. Total RMB loans surprised the market to the upside and showed broad-based improvement – both mortgages

The post Chinese credit tanks appeared first on MacroBusiness.

The ferrous complex is still charging: How high are we going to get? $140 maybe. We have another three months to rally on seasonals. The future remains beyond gloomy: The deposits have drawn Chinese multinationals including China Baowu Steel Group, the country’s largest iron and steel producer. In September, Baowu signed a deal with Société

The post Daily iron ore price update (Plbara killer 2025) appeared first on MacroBusiness.

Wall Street was able to bounceback in late trade this morning with tech stocks leading the way while the USD was basically unchanged against the majors as the Australian dollar retraced slightly below the 69 handle. Bond markets are seeing more loosening of yields in anticipation of the next US CPI print with 10-year Treasury

The post Macro Morning appeared first on MacroBusiness.

It’s a grim business, trying to build a habit that’s good for you. I’m a world champion at laying down bad habits. But the good ones? Not so much.

As I wrote over at Sideboob last Friday, I’m leaning into one simple change for the start of the work year: nailing my start-up sequence.

The Australian Chamber of Commerce and Industry has called on the federal government to provide a pathway to permanent residency for all temporary skilled migrants as part of its submission to the government’s review of the migration system. With the ACCI also calling for an increase in the permanent migration intake from a record high

The post Business lobby demands unlimited fake ‘skilled’ migration appeared first on MacroBusiness.

Global Macro / Markets / Investing: A tremendous credit boom took place in 2022, and it may not even be ending – FedGuy Economists don’t see significant increases in unemployment going forward – Daily Shot (ruh roh) Ozone layer may be restored in decades, UN report says – BBC Americas: Brazil’s Bolsonaro hospitalized in the

The post Links 11 January 2023 appeared first on MacroBusiness.

A mixed session on Asian stock markets following the shaky start to the trading week on Wall Street overnight as risk markets continue to second guess the Fed’s rate rise agenda in 2023. The USD hasn’t move strongly against any of the majors but they in turn are not moving higher with the Australian dollar

The post Macro Afternoon appeared first on MacroBusiness.

Realised with horror this morning that I’d left the house without my Apple Watch. I was already on my morning walk, ready to burn those calories like a mofo. And now? The sum of fucking calories burned was zero!

Pick your pudding or poison and be careful what you wish for. From Nautilus Research:   Correlations work both ways as this ensemble chart above definitely shows how price action seems to rhyme over time. The real lesson is that the progression from outcry calling, bucket shops, to electronic trading, to HFT its all the

The post Listen to the charts but they don’t all sing the same tune appeared first on MacroBusiness.

For those willing to bet on whether Emperor Xi got laid this morning. I buy the possibility of China’s domestic stocks being able to rally through the US recession, not least because I see the property adjustment as structural so easy credit seems assured. But not Europe as the ECB chases the Fed. The Market

The post The world’s new bull market appeared first on MacroBusiness.