Friday’s ferrous markets were weak as SHFE and SGX resumed falls: Overnight, the Fed popped and dropped Dalian futures: Coking coal: The latest MySteel readings are very mixed. Flat products have rebounded while long sink: Output is cratered given zero profitability: At 28% below 2019 levels, apparent iron ore demand is lower by nearly 500mt
A very supportive speech by Fed Chair Powell, where he outlined that the Fed will do what it can to help US unemployment and that meant swift rate cuts if necessary has seen the little reversal in USD go back the dominant way that risk markets had been thinking all along. Wall Street rallied alongside
Earlier this month, CoreLogic released data showing that large numbers of suburbs nationwide have joined the million-dollar club: 46% of suburbs in Brisbane boasted a median house price of at least $1 million at the end of July, compared with just 30% a year ago. 36% of suburbs in Adelaide have joined the ‘million-dollar club’,
Canada and Australia have resorted to “quantitative peopling” to give the illusion of growth while individual living standards are collapsing. Canada has recorded its largest population expansion in history, with nearly 1.3 million people added over the past year, almost all via net overseas migration: While this massive population expansion has kept Canada out of
Last week’s survey of 49 “leading” economists blamed a lack of supply for Australia’s housing crisis while denying that two decades of excessive demand via record immigration have played a material role. Note from the above graphic that only 6% of surveyed economists picked “restrain immigration” as a solution to Australia’s housing mess, while 14%
There are two major features of the gas cartel in Australia. First, it is unimaginably destructive economically. Second, it is unimaginably invisible in public discussion. Chris Joye gives us a nice glimpse of both: With inflation temporarily falling into the Reserve Bank of Australia’s target 2 to 3 per cent band, and the US Federal