From China’s NBS over the weekend: The manufacturing purchasing managers’ index was unchanged from the previous month. In June , the manufacturing PMI was 49.4% , and the manufacturing boom was the same as last month. The main features of this month: First, the overall expansion of production, industrial transformation and upgrading continue to advance. The production index was 51.3% , although it fell 0.4 percentage
Spot prices jumped to a new high. Paper went even higher. Steel has spurred the entire move on now after the Tangshan output curbs. The charts: We’re still at the top as far as I’m concerned. The market will recognise it in due course.
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By Chris Becker Friday night saw the return of confidence as the G20 meeting got underway in Osaka, with hope surrounding some sort of outcome of the trade spat between the US and China. Stocks on both sides of the Atlantic rose while currencies were relatively flat as oil, gold and Bitcoin in particular had
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The Reserve Bank of Australia (RBA) has released its debt ratios for the March quarter, which revealed that Australian households’ debt loads have hit another all-time high. The ratio of household debt to disposable income hit a record high 189.7% in March, with mortgage debt to income a record high 140.1%: However, mortgage debt retraced
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By Leith van Onselen CoreLogic’s dwelling price results have been released for June, which reveals another 0.08% decrease in values recorded over the month at the 5-city level. However, Sydney and Melbourne recorded their first monthly rises in 23 months and 19 months respectively: It was the 21st consecutive monthly decline in home values at
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DXY was soft Friday night. CNY and EUR firm: The Aussie dollar continued its charge as trade war fears ease: Even so, the market moved more short: Gold eased: Oil too: And metals: Miners to the moon: EM stocks appear poised: As junk ripped: Treasuries were mixed: Bunds bid: Aussie bashed: And stocks were firm:
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Last week, Adrian Blundell-Wignall – former director of the OECD, an adjunct professor at Sydney University and author of Globalisation and Finance at the Crossroads – penned the following in The AFR on how to “turbocharge Australia’s productivity”, which claimed that “better education output is central to future productivity growth”: More generally, the “plan” should be a
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Via CoreLogic: Over 60 per cent of capital city homes sell at auction for the 3rd consecutive week There were 1,292 capital city homes taken to auction over the final week of June, returning a preliminary auction clearance rate above 60 per cent for the third consecutive week (66.5 per cent). Last week, a higher
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Global Macro/Investing Trump pressures other G20 leaders to weaken climate goals – Politico iPhone designer to leave Apple – BBC But tech stocks still leading the way – Reuters Are Cryptocurrencies the First Crack in the Wall to Regulate Facebook? – NakedCap Trump and Xi play high stakes trade war talks at G20 – Reuters Americas
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Victor Rubin, Ward 369: An indicative cage, 1987, Art Gallery of NSW Global Macro Western liberalism is obsolete, warns Putin, ahead of May meeting – Guardian G20: Europe tells US and China their trade war is harming global economy – SCMP G20 Osaka: as China, India and Russia draw close, has Trump overplayed his
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