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Articles from MacroBusiness

Stock internals deteriorate

April 10, 2024 - 11:30 -- Admin

The Market Ear on the stalled equity surge. — NVDA Well below the 21 day, but still above the 50 day. Best case, this stock needs to consolidate and catch some breath. Must hold is the 50 day, currently around $810. Refinitiv Et tu NVDA NVDA losing that crazy bid for uspide calls. Note the

Pilbara killer fully funded

April 10, 2024 - 11:00 -- Admin

The news is good if you like the taste of Fanta: Guinea said shareholders involved in Simandou, the biggest untapped iron-ore reserve globally, have signed $15 billion in financing agreements for the project. …“Simandou is no longer a dream but a reality,” Djiba Diakite, head of the strategic committee which led the talks, said in

Australian economy comes in for crushed landing

April 10, 2024 - 10:30 -- Admin

Unique among developed economies post-COVID, the Australian economy is coming in for a crushed landing. Unlike the European hard landings or soft landing like the US.  Even Canada and NZ are different, with hard landings still possible there. Australia’s crushed landing sees buoyant headline conditions. From the NAB survey yesterday: Crushloaded everything: But smashed wages

Easing planning rules won’t solve housing shortage

April 10, 2024 - 10:00 -- Admin

YIMBYs, developers and politicians spread the idea that if Australia merely loosened zoning rules and let developers build apartments anywhere, Australia’s housing shortage would be solved. This myth was demolished in a recent Daily Telegraph article, which reported that “Almost one billion worth of housing in one of Sydney’s most affordable local government areas is

Iron ore short squeeze finds sellers

April 10, 2024 - 09:30 -- Admin

The iron ore ore short squeeze continued in full roar yesterday but was greeted by selling overnight in Dalian: Coking coal is still mirroring: SGX was less explosive yesterday, but the FE rally did cross over into rebar futures: Scuttlebutt was meh: “Steel margins have improved, which may encourage steelmakers to resume production later, thus

Macro Morning

April 10, 2024 - 09:00 -- Admin

Wall Street was able to just get itself out of a reversal overnight with a late rally by tech stocks in the absence of any economic or macro events as traders await this week’s US CPI print. The USD failed to rally back after its boost from Friday night’s US jobs report with the higher

Australians reject Albo’s immigration tsunami

April 10, 2024 - 00:01 -- Admin

Following the biggest immigration surge in Australia’s history, which saw a record 549,000 net overseas migrants land in the year to September 2023, The Australian Population Research Institute (Tapri) has released a comprehensive survey showing that Australians comprehensively reject high immigration and a Big Australia. Tapri’s December 2023 national survey of 3000 voters (published April

Macro Afternoon

April 9, 2024 - 16:30 -- Admin

A better trading session across stock markets in Asia today despite the flat result on Wall Street overnight as risk continues to absorb the outcome of Friday’s US jobs report, which came in hotter than expected. The USD is now slipping and becoming weaker against all the majors as the Australian dollar pushes above the

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