Blogotariat

DXY held on Friday night. AUD could not break higher. Lead boots still plodding upwards. Gold sagged. Oil bounce looks technical to me. Metals no bueno. Big bear rolls on. EM maybe. Junk meh. Yields up. Stocks upper. The US jobs report was a Goldilocks scenario, so it did not change the trends. Total nonfarm

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While my focus has been very much on the federal election, events have been developing in Tasmania, which culminated in a vote of no confidence on Thursday.

The premier, Jeremy Rockliff, has plans to visit the Governor on Tuesday to ask for an early election. At the moment it doesn’t seem likely that anyone else could command the support of the House of Assembly, but it is possible the Governor may decide to not grant an election right away in the hope of finding a way to continue with a parliament that is not yet 15 months old.

If an early election is called, the earliest possible date is July 19.

International Reading: ‘There’s no fraud’: Steve Bannon says Elon Musk’s DOGE cuts are a huge failure – Raw Story Trump calls for scrapping debt limit – The Hill Economists Raise Questions About Quality of U.S. Inflation Data – WSJ President Stagflation: US economic activity declines as tariffs pressure prices, Fed says – Yahoo House GOP

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As the two most powerful but petulant men in the world stand off at 10 yards with handbags swinging, risk markets didn’t know quite to make out here in the Asian session today as the focus remains on the latest US jobs report tonight, with the initial jobless claims preview from last night not looking

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The "high school" level feud between the US president and the world's richest man has sent Tesla stock into free-fall. But the biggest victim could be autonomous tech.

State approves two major new renewable energy generation and storage projects through planning fast-track scheme – both of which were opposed by the respective local councils.

Westpac states the obvious. Soft GDP data for Q1 has again raised questions of whether the RBA is behind the curve and has left policy too tight for too long. As we have been highlighting for some time, underlying growth in Australia remains weak and sensitive to pauses in the expansion in the care economy.

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Pacific Island group condemns Australia's support for gas project extension as major new climate report warns we are "fast running out of time to turn the tide" on ocean acidification and sea level rise.

The Reserve Bank of Australia’s (RBA) 25 bp rate cut last month had an immediate effect on the housing market. The final auction clearance rate across the combined capital cities soared to its highest level since early July 2024, despite the second-highest auction volumes (2,918) of the year. According to Cotality, 66.2% of auctions resulted

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Victoria’s finances are in dire straits, carrying the nation’s highest debt and lowest credit rating. Victoria’s net debt was only $22.3 billion when the Labor government delivered its inaugural state budget in 2015. However, according to budget projections, net debt will reach $194 billion by 2028-29, up from $155.5 billion today. Victorian net debt per

As global investment in renewables marches upwards, new data from the IEA shows 2025 will be the first time since 2020 to see a year-on-year fall in fossil fuel investment. 

The lifeless ferrous market refuses to die. The mix of growth is not changing. From Goldman: Taking stock of the current state of the economy, we have not seen a meaningful rotation in growth drivers from external to domestic demand. Export volume increased 13% yoy in April despite notably higher US tariffs. Retail sales growth

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Last night saw the ketamine Nazi having a Twitter/X stoush with the Adderall TACO-baby online after their recent public divorce, with Trump threat of taking away Tesla’s subsidies sending its stock price down over 14%. Against this childish backdrop was the possibility of trade talks with both China and Canada and the potential stalling of

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