Macro Afternoon: 13 November 2024
Barry’s Reef Trees AUD/USD EUR/USD USD/JPY GBP/USD GOLD WTI BRENT Australia 200 US S&P 500 UK 100 Japan 225 Easy Listening
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Sell crypto with both hands
This is funny from The Market Ear Buy everything you can That is Bernstein’s take on crypto. They write: “…add crypto exposure asap, Call us if you need help”. If you had regulatory concerns, the investment bank urges you to “invert your mental mind”. They see BTC at $200k by year end 2025. King of
More recession wrecked Kiwis call Australia home
Statistics New Zealand released data showing that Kiwis are leaving in droves to escape the worst recession in decades. Annual net permanent and long-term migration inflows fell to 44,900 annually in September, the lowest since January 2023. September saw a net permanent and long-term (PLT) inflow of only 2,310 persons in seasonally-adjusted terms, with the
Should ASIS slip something into Rudd’s prune juice?
President-elect Donald Trump is lining up his China hawks. Just days after he won a return to the White House, the outlines of Donald Trump’s foreign policy are becoming clear: squeeze Iran, support Israel, confront China. The expected appointment of Marco Rubio as secretary of state and the naming of combat veteran Mike Waltz to
Mining parasite fattens on $66bn in stolen royalties
If we add mining subsidies, it is more $80bn! Prosper with the report. Australian states could capture an additional $14.5 billion in revenue each year by moving to a more flexible royalty model with variable rates that adjust to market conditions. “Australians own the rights to mineral and petroleum resources, but the states as our
Sagging wages scream at RBA bullhawk to cut interest rates
Westpac sums it up. In the September quarter, the Wage Price Index (WPI) rose 0.8% (3.5%yr), on par with Westpac’s forecast but a touch softer than the market consensus of 0.9%. It is also below the RBA’s expectation which pointed to a 0.9%qtr rise in both the September and December quarters of 2024. Wage inflation
Albo’s Ministry of Information is massive overreach
It appears the subaltern Australian mind is so brow-beaten that, like our American cousins, we are ready to give away our freedoms to would-be tyrants. Constitutional law expert Anne Twomey has warned Labor’s bid to crack down on online misinformation could “all go very wrong”, raising concerns over the outsourcing of censorship decisions to foreign-owned social
Gas cartel boils Chris Ulhmann’s brain
What an intellectual mess Chris Uhlmann is. The piece he writes today is so confusing that he should give the NDIS a call. The man charged with delivering Labor’s pledge to source 82 per cent of electricity from wind, solar and hydro power by 2030 says natural gas will be the “ultimate backstop” for keeping
Australia’s EV bubble pops
The latest new car sales data from the Federal Chamber of Automotive Industries (FCAI) showed that sales nationally are trending lower, down 7.9% year-on-year in October. This decline in new car sales has been matched by the fall in motor vehicle registrations this year. FCAI chief executive Tony Webber noted that the industry is “concerned
Stocks hit bond turbulence
The Market Ear on the runaway Trumpflation. And the winner is When you need proper leverage, you go for the mania 2x. MSTU, 2x MSTR, up some 50% today. Source: Refinitiv The one and only The dollar continues surfing with the DXY printing the highest levels since late June/early July. We outlined our long dollar