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MacroBusiness Wednesday, May 28, 2025 - 10:30 Source

You need US dollars to buy US assets. AUD rejected! Lead boots were made for walking. Three black crows for gold. Oil bust. Metals meh. Mining meh. EM meh. Junk sees sunny uplands ahead. Yields are helping now. Thank Saudi. Stocks to the moon! The AUD has turned into the world’s first Costanza coin. It

The post Australian dollar turns Costanza coin appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 28, 2025 - 10:00 Source

The Australian Energy Regulator (AER) announced this week an increase in electricity prices for households with standing offer plans. Electricity customers in NSW face the biggest increase in default market offer prices from 1 July, with power bills across the state to rise by between 6.1% and 9.1%. AER chair Clare Savage says that while

The post Why Australian electricity costs will continue to rise appeared first on MacroBusiness.

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xkcd.com Wednesday, May 28, 2025 - 10:00 Source

Under the two-domain system, anyone who punches you is technically an Archaean pathogen.

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Renew Economy Wednesday, May 28, 2025 - 09:32 Source

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Renew Economy Wednesday, May 28, 2025 - 09:10 Source
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MacroBusiness Wednesday, May 28, 2025 - 09:00 Source

Wall Street returned with a bang after its long weekend break with a 2% plus surge across the board in response to the 180 degree spinning top EU Trump tariffs, which should give Asian equities a bounce on the open this morning. Meanwhile the broader selloff in USD was also backed off as Euro pulled

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Wednesday, May 28, 2025 - 08:00 Source

Coolabah Capital portfolio manager Chris Joye published an article in The AFR highlighting the giant contribution of government spending to Australia’s post-COVID economy. A gigantic government cash splash has helped. In fact, a remarkable 63% of all Australia’s economic growth since December 2019 has been driven by the public, rather than private, sector. Expressed another

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MacroBusiness Wednesday, May 28, 2025 - 00:05 Source

Last week, the federal government’s own advisory body, the National Housing Supply & Affordability Council (NHSAC) released its 2025 State of the Housing System report, which forecast that only 938,000 dwellings will be built nationwide by mid-2029, 262,000 dwellings short of Labor’s National Housing Accord target of 1.2 million new homes over five years. NHSAC

The post Australia faces crippling housing shortage appeared first on MacroBusiness.

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Renew Economy Tuesday, May 27, 2025 - 20:16 Source
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Renew Economy Tuesday, May 27, 2025 - 20:12 Source

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MacroBusiness Tuesday, May 27, 2025 - 16:30 Source

Risk markets in Asia are doing a little better despite the lack of a lead from a closed Wall Street with the focus on positive Chinese industrial production numbers. However currency markets are still wanting to push the USD down further with a somewhat hawkish talk from the BOJ not helping the USDJPY pair while

The post Macro Afternoon appeared first on MacroBusiness.

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Cheeseburger Gothic Tuesday, May 27, 2025 - 16:08 Source

Just wrapped a five-hour shift uploading books to the various online stores, and lemme tell you—I am feeling it. It’s been a while since I’ve done a big indie publishing run, and tomorrow’s release is shaping up to be the biggest one yet.

Part of the complication? I decided to release the books as individual titles on Amazon to meet their monopolistic Kindle Unlimited exclusivity requirements. This meant I then had to bundle those same books into a three-volume collection to sell everywhere else—because I’m still finishing the third volume, that bundle had to go up as a pre-order.

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Renew Economy Tuesday, May 27, 2025 - 15:42 Source
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Renew Economy Tuesday, May 27, 2025 - 15:12 Source
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Renew Economy Tuesday, May 27, 2025 - 14:59 Source
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Renew Economy Tuesday, May 27, 2025 - 14:26 Source
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MacroBusiness Tuesday, May 27, 2025 - 14:00 Source

Leith and I have both explored the extraordinary price of coffee in Australia, with causes as varied as the price of beans in Brazilian drought to local labour costs and draining income. Coffee is now a luxury item. And the cafepocalypse in full swing. I admit, we’re not losing much here. I have long criticised

The post How to get a free cup of coffee appeared first on MacroBusiness.

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Renew Economy Tuesday, May 27, 2025 - 13:59 Source
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MacroBusiness Tuesday, May 27, 2025 - 13:30 Source

The Market Ear with more. So little exuberance Positioning and sentiment remain muted across the board. Hedge fund leverage is at cycle lows, CTAs and systematics are neutral, and there’s over $7 trillion parked in money markets. With so little exuberance, it’s hard to get truly bearish from here. Let’s examine the latest positioning and

The post Stocks stuck in the mind of a child president appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 27, 2025 - 13:00 Source

Except that it is very common! GPs in NSW will soon be able to diagnose and prescribe medication for attention-deficit hyperactivity disorder (ADHD), under major changes that will slash appointment wait times and make it more affordable for children and adults to receive a diagnosis and treatment. The NSW Labor government will pay for GPs

The post The economic burden of ADHD appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 27, 2025 - 12:30 Source

Here comes the bear doves, via The AFR: Tim Toohey was the local chief economist at Goldman Sachs for more than a decade. Now at major money manager Yarra Capital, Toohey said he expected five quarter-point rate cuts, to 2.6%, by August next year. Toohey said he had two reasons for this unorthodox position. First,

The post Toohey: Interest rates to crash appeared first on MacroBusiness.

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Renew Economy Tuesday, May 27, 2025 - 12:14 Source
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Renew Economy Tuesday, May 27, 2025 - 12:08 Source
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MacroBusiness Tuesday, May 27, 2025 - 12:00 Source

Victoria has become an economic leech on the nation. In 2024-25, Victoria received a massive $3.8 billion boost in its GST, whereas Queensland lost $384 million and NSW lost $188 million. Victoria also received $411 million in additional grants from the Commonwealth in 2024-25. For 2025–2026, Victoria’s GST allocation was increased again by $3.7 billion,

The post Victoria is a giant economic sinkhole appeared first on MacroBusiness.

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Renew Economy Tuesday, May 27, 2025 - 11:49 Source
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MacroBusiness Tuesday, May 27, 2025 - 11:30 Source

According to Robert Gottliebsen, the architect of Australia’s compulsory superannuation system, former prime minister and treasurer Paul Keating, is said to be furious about current Treasurer Jim Chalmers’ plans to tax unrealised gains within superannuation for balances above $3 million. Back in the early 1990s, Keating and union leader Bill Kelty joined forces to implement

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MacroBusiness Tuesday, May 27, 2025 - 11:00 Source

Deloitte Access Economics has released its Quarterly Employment Forecasts Report, which paints the picture of a job market propped up by record government spending. Deloitte notes that almost 390,000 Australians found jobs in the past year, with around two-thirds being full-time, “highlighting the labour market’s resilience”. However, “the overall strength of the labour market has

The post Australia’s boom in unproductive jobs appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 27, 2025 - 10:30 Source

Chinese steel futures buckled yesterday, both long and flat. It doesn’t make a lot of sense to let this happened when you have already mooted the solution of passing the price weakness upstream to iron ore via steel output put cuts. Chinese growth prospects are hardly shotting the lights out, either. Morgan Stanley. Milder growth

The post Steel buckles, iron ore next appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 27, 2025 - 10:00 Source

I keep arguing that Australia’s transition to renewable energy will be incredibly expensive and drive up power bills. The reasons are straightforward. Renewable energy sources depend on weather conditions, which makes them intermittent and results in low load factors. As a result, renewables require backup hydrocarbon generation and loads of storage. They also need a lot

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Renew Economy Tuesday, May 27, 2025 - 09:50 Source
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