Blogotariat

Westpac says boom.. Westpac-Melbourne Institute Consumer Sentiment Index surges 12.8% to 103.8. First positive read since early 2022 and a seven-year high (excl. COVID period). Expectations improve as domestic recovery firms, trade risks subside. Strong gain is despite a less confident outlook for interest rates and jobs. ‘Mortgage belt’ is a notable exception, sentiment dipping

The post Consumer confidence goes boom and bust appeared first on MacroBusiness.

The Market Ear on improving gold technicals.  Gold moving again Gold found support on the big $3900 level, and was close to the 50 day. The shiny metal is putting in the biggest up candle (as of writing) since the sell off began. We are well above the $4000 area. Next bigger resistance at $4200

The post Orange man, gold rocket appeared first on MacroBusiness.

The fake left meltdown continues today. The fake left Guardian is busy defending fake left media coverage. “Anyone who thinks this is about a 12-second clip on a Panorama more than a year ago that not a single viewer complained about is not reading the proper story,” said one. “What’s going on here is much

The post Neither the ABC nor BBC are “left” appeared first on MacroBusiness.

Goldman has an amusing take on the Shenzhen property market, once the hottest in China. Policy environment:The expert was relatively cautious regarding policy environment in Shenzhen. The expert highlighted that easing measures that have been introduced so far, such as HPR relaxation and mortgage rate cuts, have had limited effects and failed to effectively boost

The post China’s 16 years of property inventory appeared first on MacroBusiness.

The ferrous complex is weakening fast, as it should. Streel production has been slashed, but prices keep falling. The steel export pressure release valve has closed. Mills are shuttering. “We are hearing more stories about steel mills facing mounting losses, prompting several to announce maintenance plans in November,” said Westpac’s head of commodity strategy, Robert

The post Iron ore jaws must shut appeared first on MacroBusiness.

The Climate Change Authority recently warned that electric vehicles (EV) will need to account for 50% of Australia’s new car sales over 10 years if the federal government’s emissions reduction targets are to be met. Federal and state governments already provide substantial subsidies and incentives for EVs, which cost their budgets billions of dollars. Many

The post If EVs are better, why ban combustion engines? appeared first on MacroBusiness.

Today’s post is the latest chapter in my series analysing the history of previous parliamentary expansions at a federal level. In my last post, I analysed how the pendulum changed during the 1948 redistribution. For this post, I am going to look at how MPs responded to this new map, which seats were left without a sitting MP at the subsequent election, and how the swing varied depending on whether an MP ran for the seat. I’m basically doing the same analysis for 1948-49 as this post was for 1984.

Solarig has commenced operations at the 400 MW / 520 MWp Stubbo Solar project, bringing its total portfolio under full O&M in Australia to 2 GW.

Everything is awesome on risk markets again as the US government shutdown appears over due to some spineless and feckless Democrats (but I repeat myself) bend the knee in the Senate. Wall Street rallied taking back most of last week’s losses with other stock markets following suit. This will probably last until the Supreme Court

The post Macro Morning appeared first on MacroBusiness.

Patrik Baab argues that Western governments—especially in Europe—refuse to pursue a negotiated settlement with Russia because their political survival depends on continuing the war. He claims Ukraine is being sacrificed (“brought to the butcher”) to serve Western geopolitical interests, primarily the U.S. goal of weakening Russia.

According to this view:

Now is the sinister time of year when the Barons of Big Oil gather together, under the auspices of the United Nations and with the blessing of most world leaders, to celebrate the 350 million needless deaths they plan to cause between now and 2050 in the name of profit.

Julian Cribb

The black work of big oil

Long, long ago – almost as if yesterday really – Ukrainians were promised that if enough of them were to die in a Western proxy war against Russia first, then, in an ill-defined, probably far-away future, their country – or whatever would be left of it – would be allowed to enter NATO. It is now considered rude to mention that promise, because the West has in effect broken it, while asking Ukrainians to please keep dying, preferably for a few more years at least.

Risk markets in Asia are responding positively to possible news that the Republican shutdown of the US government may finally be coming to an end with the Senate passing a spending bill. Futures for Wall Street and undollars like gold and the Australian dollar have gapped higher as well with the latter leaping above the

The post Macro Afternoon appeared first on MacroBusiness.