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Articles from MacroBusiness

RBA to fall for inflation headfake

June 1, 2023 - 09:00 -- Admin

Westpac has the details. In finer detail the index rose 0.8% in April compared to our 0.5% forecast; we assume the market median would have been around 0.4% given the 6.4%yr forecast. We had observed a moderation in the average monthly increase from 0.9%mth through the last three months of 2022 to 0.1%mth through the

RBA: Albo’s immigration is a productivity killer

June 1, 2023 - 00:10 -- Admin

Since our inception, MacroBusiness has argued that the ‘Big Australia’ mass immigration policy is a productivity killer. Because of this mass immigration, Australia’s population has increased by more than six million people this century. At the same time, business investment has plummeted: As a result of the immigration boom, the stock of capital per worker

Links 1 June 2023

June 1, 2023 - 00:00 -- Admin

Global Macro / Markets / Investing: Wealth Taxes Result in Rich People Fleeing, Turns Out – Reason Companies Push Prices Higher, Protecting Profits but Adding to Inflation – NY Times JPMorgan Builds Unit for World’s Richest Families in Wealth Bet. 23 Wall focuses on 700 families worth more than $4.5 trillion – Bloomberg Goldman Sachs

Sydney house prices skyrocket

June 1, 2023 - 00:00 -- Admin

CoreLogic’s dwelling value results for May have been released with values across the Australian capital cities soaring by 1.4% over the month – the third consecutive monthly increase: The jump in values was overwhelmingly driven by Sydney, where values surged by 1.8% over May: Melbourne (+0.9%), Brisbane (+1.4%), Adelaide (+0.9%) and Perth (+1.3%) also recorded

Macro Afternoon: 31 May 2023

May 31, 2023 - 17:57 -- Admin

Nicholas Chevalier, Mount Arapiles and the Mitre Rock, 1863, National Gallery of Australia, Canberra           AUD/USD   EUR/USD   USD/JPY   GBP/USD WTI   Brent   Gold Australia 200   US S&P 500   UK 100   Japan 225   Evening Listening The Necks, In Session Sydney Opera House Portico Quartet Ensemble,

Mad Albo’s Indian deluge pumps Giant Australia

May 31, 2023 - 14:20 -- Admin

In her recent National Press Club address following the release of the Migration Review, Home Affairs Minister Clare O’Neil declared that Labor was not delivering a ‘Big Australia’: “I’m not someone who advocates for a big Australia in this conversation. What’s really important to me is that we’ve got these big national problems facing our

China PMIs lose altitude fast

May 31, 2023 - 13:41 -- Admin

China PMIs are out: In May , the Manufacturing Purchasing Managers Index ( PMI ) was 48.8% , down 0.4 percentage points from the previous month, lower than the critical point, and the level of manufacturing prosperity dropped slightly. Components are yuck across the board: The Services PMI was better but not great: Non-manufacturing business activity index was 54.5% , a decrease