The leaders of the Group of Seven (G7) expressed support for Israel's security in a joint statement amid the escalation with Iran, pointing to the importance of de-escalation in the region.
The Israel-Iran war continues to dominate risk markets as Trump runs away from the G7 meeting tweeting out incoherent threats and deals while further strikes against oil tankers and other targets show the conflict spreading. The USD remains somewhat weak although Yen took a small back seat on today’s BOJ meeting with a taper plan
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South Australia seeks eight-hour storage solutions as it beefs up support for 100 pct renewable grid
New Zealand’s economy is a basket case. Consider the following data points, many of which come from Justin Fabo from Antipodean Macro. The following chart of national accounts data to Q4 2024 shows that New Zealand has experienced a sharp decline in GDP and national income. More recent data suggests that the economy remains moribund.
According to The Guardian, Australia’s tobacco excise rate has tripled in the past decade, from 46c to $1.40 per cigarette, accounting for $28 of the average $40 price for a packet of 20 cigarettes. This has led economists to suggest either a freeze or a cut to the excise rate while Australia cracks down on
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Dick Markes says the quiet part out loud. The Australian. Acting Prime Minister Richard Marles says the nation will inevitably be drawn into a US-China conflict with the continent now more relevant than ever to the contest between the world’s great powers, as America ratchets up its military presence on Australian soil. …Mr Marles said
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Overbought, says the Market Ear. SPX vs US financial conditions The two have moved in tandem, but note the latest little gap… Source: BNY Turning cautious The great JPM market intelligence team have played the melt up well. They are turning more cautious here: Geopolitical tensions and energy price spikes raise pullback risk, though any
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The Commonwealth Grants Commission (CGC) reduced Queensland’s share of goods and services tax (GST) revenue by $2.4 billion in March due to the state’s strong revenue from coal royalties. Queensland’s GST allocation was also reduced by $384 million in 2024-25. Federal Treasurer Jim Chalmers indicated at the time that he would not overrule the independent
It’s the bust that keeps on giving. Sales volumes were flat year on year. But that’s the end of the good news. Starts are still in free fall, down nearly 80% from peak. And there is still more empty, idle, half-built and unsold stock than you can poke an entire country at, about one-third from
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Slowly but surely, iron ore is breaking down. Yesterday’s May output data was the weakest in six years. Yet, it is not yet doomsday, except, perhaps, for the climate. China has abandoned any pretence of a green steel transition. The output falls are equally large in BOF and EAF, but the Five Year Plan was
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