Macro Afternoon: 20 June 2025
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 …..and furthermore….. East listening
The post Macro Afternoon: 20 June 2025 appeared first on MacroBusiness.
Articles from MacroBusiness
Primary tabs
New Zealand’s ‘big and beautiful’ property crash
Cotality’s latest dwelling value results for New Zealand revealed that home values fell by 1.6% in the year to May to be 16.3% lower than their peak. As illustrated in the following chart from Cotality, home values have fallen heavily across all major markets. Separate data from the Real Estate Institute of New Zealand (REINZ),
Want to meet Trump? Sack Rudd
Let’s do some more worrying, shall we. The Australian. The waning possibility of Anthony Albanese landing a face-to-face meeting with Donald Trump in coming weeks has sparked alarm from the Coalition and defence experts, who have raised concern about the two leaders not meeting before Washington’s controversial AUKUS review concludes and instead leaving the outcome
Why do retirees need more comfort than workers?
The Association of Superannuation Funds of Australia’s (ASFA) latest modelling suggests that a couple who own their home now requires annual income of $73,875 to live comfortably in retirement. The figure for a single person who owns their home is $52,383. The analysis also shows that the cost of a comfortable retirement increased by 1.6% in
Revenge of the Magnificent 7
The Market Ear with the charts. AI or die Goldman’s AI winners basket hit a fresh all-time high, while AI-risk names dropped again. Source: GS/Bloomberg The pulse on tech Mag7 names now make up ~15% of US net exposure (up from ~11% in April), but still well below the ~21% peak in mid-2024. The L/S
Having children is becoming a luxury
Thursday’s Q4 2024 population data from the Australian Bureau of Statistics (ABS) revealed that “natural increase” (i.e., the number of births minus deaths) fell to only 105,200 in 2024, close to the lowest level on record. There were 292,500 births in 2024, offset by 187,300 deaths, the latter of which have risen following the Covid-19
Use UAE to crush gas cartel
Even the cartel-loving AFR can’t come to grips with selling Santos to the UAE. The strategic rationale for the bid probably revolves around LNG and the bidder’s eagerness to capitalise on the expansive portfolio of projects Santos is developing not only in Australia but also South-East Asia and Alaska. ADNOC has a minimal track record
The root cause of the housing crisis
Over the past week, we have seen multiple articles like the following from The West Australian complaining about the decline in housing affordability, which has left residents struggling to pay mortgages or rent. These articles are based on the latest Housing Affordability Report from the Bankwest Curtin Economics Centre, which blames a ‘lack of supply’
EOFY lifts consumer pall
Westpac with the note. The Westpac-DataX Card Tracker Index* has firmed over the last two weeks after a very volatile period through Mar, Apr and May. The latest weekly read of 140 is up 2.3pts from the end of May, the last two weeks recording the strongest average read outside of the post-holiday rebound in
The boom in Adelaide bureaucrats
The monthly growth in Seek advertised salaries has shown hints of stabilisation but is still trending lower. I expect the fade to continue as the immigration-led labour market expansion economic model does its thing. I do not expect we’ll get back to last cycle’s lows because the Labor government is forcing more wage rises via