Deutsche with the note. Announcement of Cook’s removal President Trump announced the removal of Governor Cook from the Federal Reserve Board, citing “cause” due to alleged fraud in relation to mortgages she took out on properties before her appointment to the Board. This announcement was the culmination of intensifying pressure from the administration in recent
The Market Ear on a bubble breather. Back to work Here are the latest positioning and sentiment data from the weekend. We could not really see a trend or a theme so we divided into the good, the bad and the really boring…. Keep on improving Globally, stock – specific news sentiment has improved consistently
The ferrous complex is breaking again, right on time for seasonality. Rebar is in freefall. HRC will follow. Iron ore is next. Scuttlebutt is bearish. Steel stockpiles at major Chinese mills jumped 4% between August 11-20 to reach 15.67 million tons, according to official data. This inventory buildup signals softer domestic consumption despite targeted production
The fake left Guardian inadvertently reveals its hand today. The contingent of neo-Nazis arrived at Flinders Street station about an hour before Sunday’s anti-immigration rally was due to start. A hundred or so men, dressed in black, strode across Princes Bridge in a bloc, weaving through the large crowd that had already gathered under a sea of
The Australian Bureau of Statistics (ABS) released dwelling approvals data for July on Monday, reporting 16,153 trend approvals for the month, the highest volume since August 2022. Despite the rebound, approvals tracked 3,847 (19%) approvals behind the National Housing Accord’s five-year target, which requires 20,000 homes to be built every month. In the year to
With the release of Canada’s second quarter GDP figures, it was revealed that the economy had fallen back into contraction in headline terms for the first time since the third quarter of 2023, with quarterly GDP falling by 0.5%. In the words of Pedro Antunes, Conference Board of Canada’s Chief Economist: Canada is in “recession
Yesterday’s business indicators for tomorrow’s GDP were pretty awful. Key data items – Seasonally adjusted Mar 25 to Jun 25 (%) Jun 24 to Jun 25 (%) Sales of goods and services (chain volume measures) Manufacturing 0.2 -1.5 Wholesale trade 1.7 4.0 Inventories (chain volume measures) 0.1 0.8 Company gross operating profits -2.4 -3.3 Wages and
Yesterday, I reported on an outlandish plan reported in the Economic Times of India, the Hindustan Times, the Business Standard, and other Indian media outlets to have Indian workers/migrants build Australian homes. “Union Minister Piyush Goyal on Sunday said that India is in “deep negotiations” to create 1 million homes in Australia and has reached
Good on David Pocok for taking it on, but he’s talking nonsense. Independent ACT senator David Pocock said on Monday the pressure on the environment and infrastructure motivated many marchers on the weekend, who felt there was “no plan” underpinning the migrant intake. Albo has a very clear plan. It’s just that it sucks for
Overnight saw some calm return to risk markets as the new trading week got underway without US involvement as they had a long weekend, although we still got more bullying of the Federal Reserve by the Trump regime. The perceived loss of independence and the blowout in US fiscal budget continues to put pressure on