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Articles from MacroBusiness

Macro Morning

March 22, 2024 - 09:00 -- Admin

Following the Federal Reserve meeting in the previous session, the USD and bond yields rebounded overnight with the Bank of England holding fire while the Swiss Central Bank put in a surprise rate cut. This increase currency volatility particularly with Euro while Wall Street was able to eke out a new high, although equity futures

Sell iron ore with both hands

March 22, 2024 - 08:28 -- Admin

Rebar and SGX and bouncing still: Same in Dalian: The reasoning is very straightforward. MUFG: The rally in iron ore–the most China centric industrial commodity–from below USD100/MT, has stalled following investor’s laser focus on the challenges in China’s real estate sector that is hampering demand. The continued build in iron ore port stocks ultimately reflects

Builder insolvencies bankrupt Labor’s housing target

March 22, 2024 - 00:10 -- Admin

The latest dwelling approvals and new home sales data suggests that Australia will badly miss the Albanese government’s target to build 240,000 homes per year for five consecutive years. Only 163,000 homes were approved for construction in the year to January 2024, which is 77,000 below the government’s construction target. The reasons for the low

Macro Afternoon

March 21, 2024 - 16:30 -- Admin

Asian share markets are in a very good mood after absorbing the overnight Federal Reserve meeting that saw the USD slump against the majors and keep equity risk afloat. Australian stocks got out of their funk while the Australian dollar is also looking boisterous despite the recent employment numbers, crossing back above the 65 handle.

This is why Australia has a rental crisis

March 21, 2024 - 13:47 -- Admin

If you are wondering why Australia is suffering its worst rental crisis in living memory, look no further than today’s official September quarter immigration data from the Australian Bureau of Statistics (ABS). Australia’s population surged by 660,000 people in the year to September 2023, driven by a record-high net overseas migration of 549,000: 145,200 net

Australia’s youth are rightfully angry

March 21, 2024 - 13:00 -- Admin

The 2024 Gallup World Happiness Report shows that across the Anglosphere – United States, Canada, Australia and New Zealand – happiness among younger cohorts is much lower than for the old, with these gaps emerging mostly since 2010. “In North America, Australia and New Zealand, life evaluations in 2021-2023 were lowest among the young”, the

All hail property Lord Charlton

March 21, 2024 - 12:30 -- Admin

Man, what is this guy doing in the ALP and, in of all places, the seat of Parramatta: Federal Labor MP Andrew Charlton has forked out $12m for a beachside ‘investment home’ to grow his real estate portfolio to around $42m. In a move that is likely to raise eyebrows given the current housing crisis

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