Charts from TME. The IGV software index is trading at 23 RSI. Seventh level of hell. Yet AI remains a tool, not a process manager. The hallucination rate is still high and is a feature, not a bug of LLMs. My argument is that humans may have already proven themselves more useless and mistake-prone than
The evidence from around the world shows that when you raise energy costs, your economy deindustrialises. Consider the following examples. Germany: Germany once had about 22 GW of nuclear power, producing over 160 TWh annually at a reasonable cost and with no emissions. Following the Fukushima accident in 2011, Berlin shut down 8 GW of
ANZ’s major projects series has some good and bad news. In 2024–2025, major projects in Australia’s pipeline will reach $71 billion. They are expected to peak at $105 billion in 2027–2028, later than ANZ previously thought. This change happened because project schedules and financial situations have changed. After a decade of huge public megaprojects, Australia’s
Australia’s housing affordability has never been worse. According to Cotality, the nation’s dwelling price-to-income ratio was tracking at a record high of 8.2 in the September quarter of 2025: The time taken to save a 20% deposit was a record high 11 years, according to Cotality: The share of income required to pay the median
Today’s national polling roundup suggests a modest movement following the Liberal leadership change, with the LNP improving slightly but not decisively reshaping the political landscape. The latest YouGov-Sky News Pulse poll shows the Coalition rising three points to 22%, narrowing but not overtaking One Nation, which fell four points to 24%. Labor slipped one point
There’s not much very encouraging going on for ferrous. Chinese markets reopned, popped and dropped. Steel is at news lows. SGX was the outlier. SMM tells of a weak market as the most-traded contract, I2605, closed at 740.5 yuan/mt, which is 1.79% lower than the previous trading day. This means that DCE iron ore continued
The issue of economic management has often been a hotly contested topic in the battles and debates that define Australian federal politics. For many Australians who follow federal politics, the phrase “superior economic management” is all but burned into our collective memories. But the simple reality is that both sides have done a poor job
The Australian newspaper has used the Parliamentary Budget Office’s (PBO) budget tool to attack One Nation’s proposal to cap visas at 130,000 a year and aim for net-zero immigration. The analysis claims that a net-zero migration policy could reduce federal government revenue by about $100 billion over the next decade, including nearly $80 billion in
Tonight I will be appearing on DFA Live with Martin North from 8.00pm AEST, where we will discuss everything to do with the housing market and economy. The YouTube feed is below. I hope to see you there.
The post Join me tonight on DFA Live with Martin North appeared first on MacroBusiness.
Chinese markets are open again, and dirt is flying. This is a typical post-Lunar New Year bounce, yet I am opting to look through it this year to the June seasonal headwind because the market remains fundamentally weak. Witness China bullying around iron ore price assessments. Chinese central desk buyer CMRG has pushed several major