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Articles from MacroBusiness

How fast will the Pilbara be killed?

October 9, 2025 - 09:00 -- Admin

The ferrous complex remains paralysed by too much versus too much hope. Some Morgan Stanley charts illustrate the point. Steel is weak globally and abundant in China still. We are about to witness the weakest New Year restock in history, just as Chinese steel exports top out on trade wars. Iron ore is everywhere! The

Renters are the forgotten people

October 9, 2025 - 00:05 -- Admin

Being a renter in Australia is like competing in the Hunger Games. After borders reopened in late 2021, temporary migrants flooded into Australia in record volumes: As a result, rents surged and vacancy rates collapsed: At the end of 2024, Cotality (formerly CoreLogic) reported that the percentage of household income spent on rents hit a

If renewables are cheaper, why the secrecy?

October 8, 2025 - 14:00 -- Admin

The NSW government has been criticised for blocking Freedom of Information (FOI) requests for access to taxpayer-funded reports on the likely impact of closing down coal-fired power stations on electricity prices. The government has commissioned at least 10 reports, studies, and presentations between June 2024 and July 2025 on the impact of its emissions reduction

Reserve Bank panics, cuts rates by 0.5%

October 8, 2025 - 13:06 -- Admin

New Zealand’s economy is in a deep hole. As illustrated below by Justin Fabo from Antipodean Macro, real GDP contracted sharply in the June quarter, drastically underperforming the Reserve Bank of New Zealand’s forecast: The number of filled jobs in New Zealand has also contracted sharply: As a result, the Reserve Bank on Wednesday chose

Looking at politics all wrong

October 8, 2025 - 12:00 -- Admin

One of the often repeated tropes of social media discourse or backyard BBQ political debates is the idea that the election victories that Labor has won in Victoria and federally are indicative of the public holding a high level of support for their leadership. Such an assumption is not a new phenomenon. This perspective has

Labor ignored regulator warnings about high LVR mortgages

October 8, 2025 - 10:30 -- Admin

The Australian Prudential Regulatory Authority (APRA) has consistently flagged high loan-to-valuation ratio (LVR) mortgage lending as a risk area. For example, in December 2014, the Australian Prudential Regulatory Authority (APRA) released guidance stating that “ADIs should not undertake large volumes of, or increase their share of, higher-risk lending. This included lending at very high LVRs”:

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