Blogotariat

As Australia continues to shed its industrial base, the US is rebuilding. Morgan Stanley with the note. US Reshoring Momentum Is Outpacing Early Expectations Our US Industrials analysts note that May US manufacturing construction starts sustained the strength seen in April, and activity is tracking at ~2x the pre-Covid run rate. The average project size

The post Carrots work better than sticks for industry appeared first on MacroBusiness.

DXY eased lower. AUD higher. Lead boots too. Will gold have another crack? Metals paused. EM meh. Junk rejection. Short end sold on the passage of Trump Big Beautifil Bill. Stocks sold in EOFY. Deutsche says the hiccup in US capital flows is very large indeed. The US trade numbers have been very volatile in

The post Big Beautiful Australian Dollar appeared first on MacroBusiness.

Wall Street took a step back after the US Senate passed the Billionaire Tax Bonus Bill while the Trump regime waved off concerns that not even a single nation has done a trade deal coming up to the July 9th deadline. Meanwhile Fed Chair Powell said they would have cut already if not for those

The post Macro Morning appeared first on MacroBusiness.

Russian President Vladimir Putin has spoken with his French counterpart Emmanuel Macron by telephone, the Kremlin press service said on Tuesday. It is the first phone contact between the leaders since September 2022. 

The conversation revolved around the situation in the Middle East, as well as the Ukraine conflict.

One way to get a robust, comparative fix on how obscene American global preaching about human rights has become is (borrowing a vivid image from Caitlin Johnstone) to imagine what the world might think about a scorching lecture from a Taliban leader on the Western oppression of women and women’s rights.

Richard Cullen

Some charts from Westpac make the point. After increasing by 0.6% in May, the Cotality house value index increased by 0.6% in June. The current price increase is 2.3% since January, after a minor 0.8% drop at the beginning of the year. At 2.7% annually, growth was somewhat stable. Similar increases were seen in all

The post Buy property now appeared first on MacroBusiness.

I’ve been spending some time in the 1950s. The other 1950s, of course, which I buggered up jamming a nuclear-powered aircraft carrier into a wormhole and back to the Battle of Midway.

Would you like a peek?

(That’s not really a question, I know).

A massive 3GW wind project in Tasmania is setting up another fight between local conservationists and a renewable energy developer.

First Nations-backed wind and solar project joins EPBC queue, proposing to build one of Australia's biggest hybrid renewables projects, in the Pilbara.

A Melbourne company is recruiting Australians to work on a mysterious Israeli and American-backed aid project in Gaza. Could it be the infamous Gaza Humanitarian Foundation? Yaakov Aharon reports.

An ad posted by Claymore Personnel – named after an anti-personnel landmine – promises that successful candidates will “be looked after.”

As we know, VIC is the worst-run state in Australia. This is strange given that there is no native industry left to drain talent from the government. But it is what it is. Lowest income growth. Highest debt. And unemployment. Worst business conditions. And, you guessed it, absurd population growth. But don’t get cocky, because

The post Victoria disease spreads like wildfire appeared first on MacroBusiness.

Judging by the PMIs, the notion that China is growing at 5% is preposterous. Industry is still shrinking. New orders managed to flop into the positive locally, but are exports are dropping. Services are slightly better but barely moving. With new orders going backwards. Construction is doing a bit better, but is not convincing, either.

The post Chinese economy sinks a bit slower appeared first on MacroBusiness.