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MacroBusiness Wednesday, July 9, 2025 - 09:30 Source

After years of failure, the RBA has given up entirely on forecasting and is driving through the rearview mirror. Goldman. In her post-meeting press conference Governor Bullock stressed that the decision to pause the easing cycle was “about timing rather than direction” with the RBA just “looking for further confirmation we are on the forecast

The post Abolish the RBA appeared first on MacroBusiness.

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Your Democracy Wednesday, July 9, 2025 - 09:30 Source

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The Tally Room Wednesday, July 9, 2025 - 09:30 Source

You need a quota to win a seat in a Tasmanian House of Assembly election. But in practice no-one polls exactly a quota. In reality, the final seats are decided by partial quotas and the distribution of preferences.

Yet these patterns are not random – parties that poll over a certain vote share are much more likely to win a certain number of seats, and parties that poll below a certain vote share have little chance of winning that last seat. Given a certain vote share, some parties are more likely to win a seat on that vote than others, and those trends have shifted over time.

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MacroBusiness Wednesday, July 9, 2025 - 09:00 Source

Overnight saw Wall Street was uneasy with a lack of confidence and direction as trade “negotiations” continued via threats from the Oval Office, including an early morning barb against Australian exports which will likely see pharmaceutical stocks here locally suffer on the open. Remember to keep all eyes on the US Treasury market with 10

The post Macro Morning appeared first on MacroBusiness.

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Your Democracy Wednesday, July 9, 2025 - 08:29 Source

European Commission President Ursula von der Leyen has dismissed efforts by members of the European Parliament to oust her, branding her critics “conspiracy theorists” and accusing them of acting on behalf of Russian President Vladimir Putin.

 

Von der Leyen blames Russia for no-confidence motionThe EU chief has labeled her critics “conspiracy theorists”

 

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Renew Economy Wednesday, July 9, 2025 - 08:03 Source
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Your Democracy Wednesday, July 9, 2025 - 07:15 Source

Iran-Russia Defense Pact Rejection:

Iran previously declined a formal defense pact with Russia for religious and strategic reasons—they didn’t want to be obligated to support a war they didn’t endorse.

Instead, the January 17 agreement allows for loose military cooperation, including potential Russian air defense support for Iran.

 

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Renew Economy Wednesday, July 9, 2025 - 00:02 Source
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Your Democracy Tuesday, July 8, 2025 - 22:53 Source

French President Emmanuel Macron began a three-day state visit to Britain on Tuesday, which will see him address parliament and try to rekindle a purportedly warm relationship with King Charles III.

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Renew Economy Tuesday, July 8, 2025 - 18:45 Source
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Your Democracy Tuesday, July 8, 2025 - 17:54 Source

Under President Erdogan, Türkiye has moved away from its earlier identity as a secular, peaceful Cold War ally. Instead, it is now trying to become a strong regional power by following a foreign policy influenced by Islamic values. This question looks at how a country’s image and role are changing in today’s world.

 

The Hindu Op-ed: Erdogan’s neo-Ottoman foreign policy

 

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MacroBusiness Tuesday, July 8, 2025 - 16:00 Source

The big surprise in the newsflow is not the Epstein list no longer exists its that the RBA actually held interest rates steady in today’s meeting, launching the Australian dollar higher. The RBA is highlighting the uncertainty of the Trump regime’s tariff tirade as one reason but also domestic concerns play a big point. The

The post Macro Afternoon appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 8, 2025 - 14:57 Source

Jesus, what a pack of nupties. Maintaining price stability and full employment is the priority. The Board continues to judge that the risks to inflation have become more balanced and the labour market remains strong. Nevertheless it remains cautious about the outlook, particularly given the heightened level of uncertainty about both aggregate demand and supply.

The post Lunatic RBA refuses to cut appeared first on MacroBusiness.

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George Monbiot Tuesday, July 8, 2025 - 14:53 Source

Cynical operators seek to divide rural and urban people. But what we want is fundamentally the same.

By George Monbiot, published in the Guardian 28th June 2025

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Renew Economy Tuesday, July 8, 2025 - 14:39 Source
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John Quiggin Tuesday, July 8, 2025 - 14:17 Source

Have they changed, or just become their worst selves

While Trump is unpopular with a majority of Americans, his support among Republicans remains solid. That’s despite blatant corruption, fascist policies and a failure to deliver any of the economic benefits he promised. Faced with this depressing fact, the standard New York Times response has been to send an intrepid reporter to “Trump Country” (rural Kentucky or Midwestern diners) to find out what is going on.

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MacroBusiness Tuesday, July 8, 2025 - 14:00 Source

Morgan Stanley with the note. The headlines have already started to trickle in: Canada repeals digital services tax, Vietnam agreement secured, EU on track. These seem like the previews before the movie starts – but what are we actually watching? Many of our conversations with clients point to July 8/9 as a catalyst for risk.

The post What now for tariffs? appeared first on MacroBusiness.

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Renew Economy Tuesday, July 8, 2025 - 13:49 Source
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MacroBusiness Tuesday, July 8, 2025 - 13:30 Source

When it comes to economic statistics, few are as hotly contested as government employment data. Issues such as survey response rates, one hour of work per week counting as being employed and the likelihood of significant later revisions are often cited as potential distortions to the “true” picture of the nation’s labour market. For this

The post Aussie dole queue booms appeared first on MacroBusiness.

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Renew Economy Tuesday, July 8, 2025 - 13:03 Source
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MacroBusiness Tuesday, July 8, 2025 - 13:00 Source

In recent years, the hard reality of the economic, social and fiscal situation of Britain have gradually come to the forefront. Some examples have been surprisingly humorous, such as the livestream of a lettuce that ended up outliving the government of Conservative Prime Minister Liz Truss. Others have been cold and concrete, such as the

The post Britain’s dark days are Australia’s Future appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 8, 2025 - 12:30 Source

In the debate surrounding the future of Australia’s economy and what it will look like, the issue of the resources sector is often one of the most hotly debated elements. At first glance, it’s easy to think that the economy can do without it, that we are little different from any number of other advanced

The post Australia’s is the Saudi Arabia of iron ore and coal appeared first on MacroBusiness.

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Renew Economy Tuesday, July 8, 2025 - 12:28 Source
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Renew Economy Tuesday, July 8, 2025 - 12:09 Source
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MacroBusiness Tuesday, July 8, 2025 - 12:00 Source

The Market Ear on equities. Approaching neutral “This week, positioning has continued to rise and is approaching neutral but is still a little shy of it (-0.14sd, 35th percentile)” Source: Deutsche Bank Far from max long Goldman’s Wilson sums it up: “…on our latest estimates CTAs would have another $95b of US equities to buy

The post Maxed out and underweight appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 8, 2025 - 11:30 Source

The ferrous market is not a strong believer in Chinese steel production cuts so far. Scuttlebutt is building, though. Steelmakers in northern China’s Tangshan city have received notice for environmental protection-related production control, information provider Tangshan Baochun Data said in a note on its WeChat account on Saturday. Some local mills have undertaken maintenance on

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MacroBusiness Tuesday, July 8, 2025 - 11:00 Source

Because, increasingly, you will have neither. Ahead of Prime Minister Anthony Albanese’s upcoming trip to China, Sussan Ley said Australia should be wary of the expansion of an existing free trade agreement to include artificial intelligence and the digital economy. In an opinion piece in the Financial Review, China’s ambassador to Australia, Xiao Qian, urged

The post Do you want multiculturalism or democracy? appeared first on MacroBusiness.

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Renew Economy Tuesday, July 8, 2025 - 10:36 Source
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MacroBusiness Tuesday, July 8, 2025 - 10:30 Source

Of all the narratives that exist within the realm of Australian housing and economics, one of the most hotly debated is “If housing is so expensive, how are people buying into the market?” Today, we’re going to take a data-driven deep dive into how Australians continue to enter the housing market for the first time.

The post How do first home buyers afford anything? appeared first on MacroBusiness.

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MacroBusiness Tuesday, July 8, 2025 - 10:00 Source

It’s Groundhog Day for Aussie households. As I noted yesterday, the gas cartel shock of the 2022 Ukraine war profiteering is once again landing on households as state subsidies roll off. Further evidence has appeared in the credit card data. Westpac. Energy bill relief has been a key plank of the ‘cost of living’ support

The post Gas cartel punches households in the face, again appeared first on MacroBusiness.

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