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Iron ore rises into thin air

April 20, 2024 - 09:24 -- Admin

The latest data on the Chinese property market remains terrible. Via Goldman: Developers are still frozen out of funding markets and focused on completions, not starts. Excavator hours suggest only more downsides for new project starts: Steel demand is down big as well. Steel output is awful:   Energy consumption via coal is going nowhere.

Macro Afternoon

April 19, 2024 - 16:30 -- Admin

Asian stock markets are having a bad end to the trading week due to the Israeli/Iranian conflict across the Middle East, with a strong safe haven bid in USD pushing all of undollars down further. The Australian dollar was trying to rebound after its recent large reversal but failed as it was briefly pushed below

Reserve Bank “over-restricted” and will “cut interest rates quickly”

April 19, 2024 - 14:00 -- Admin

In the note below, independent economist Tony Alexander argues that the Reserve Bank of New Zealand has tightened interest rates too much and will be forced to slash them. Age impact on the spending downturn My view for a while has been that just as the Reserve Bank over-stimulated the economy during and for too

Australian immigration and the everything shortage

April 19, 2024 - 13:30 -- Admin

On Saturday, I will be the headline speaker at a public forum in Adelaide:  “From housing crisis to eco-crisis: Why Australia’s population growth is unsustainable?” My presentation is entitled: “Australia’s immigration and the everything shortage”. Below is a detailed radio interview with Matthew Pantelis at Radio Five AA, where I discuss the key themes of

Developer: Planning a side show in housing supply debate

April 19, 2024 - 12:30 -- Admin

Apartment developer Tim Gurner let the cat out of the bag when he admitted that easing planning rules won’t magically boost housing construction: “Rich Lister and Melbourne developer Tim Gurner says while the anti-development stance adopted by many councils is a major roadblock, it is only a part of problem”. “He estimated that less than