The waste of space formerly known as the media had a good laugh at your expense over the weekend, that you can still afford or want to pay $7 for a coffee. SMH. Coffee roasters and baristas are the unsung heroes of Sydney hospitality. It takes a special person – part scientist, part artist, and
The post Heroes of $7 coffee appeared first on MacroBusiness.
Friday night saw the release of the latest US jobs print – the non-farm payrolls or NFP for May – which came in on expectations although revisions and internal numbers show building weakness from the start of the year. Wall Street didn’t care and bid across the board mainly due to relief that it wasn’t
The post Macro Morning appeared first on MacroBusiness.
The Abanese government this week looked set to make some sensible policy compromises before performing a 180-degree turn and fumbling the ball. Gas Policy: The Rudd/Gillard Labor government in the early 2010s made the fateful decision to approve LNG exports out of Gladstone, QLD, without requiring gas producers to supply the domestic market first. This
The Albanese government has engaged in a full-court press of housing disinformation. Last week, Labor’s new Productivity Minister Andrew Leigh wrote the following spin in The AFR: “The federal government is doing our part. Through the National Housing Accord, we’re working with the states and territories to build 1.2 million homes over five years. We’ve
Picture this. Our world. This is the world that the average Australian lives in. They drive basic cars, they pay rates, registrations, and energy bills, they have kids at schools, and they generally spend disturbingly large chunks of their weekly incomes to service a mortgage or rent. Then they go to a grocery store and
The post The great housing gaslight appeared first on MacroBusiness.
Ian Leslie has released what looks to be a fascinating book about the Beatles and more specifically the relationship between Lennon and McCartney. I thought that I too might as well get in on the act and talk about the Beatles story and why it is so remarkable, mysterious and compelling.
The past few months have seen Australia’s auction market roar back to life. Last week, the national final auction clearance rate recorded its highest level since July 2024, with just over 66% of homes taken to auction selling. The following chart clearly illustrates the bounce in clearance rates, with higher auction clearances typically leading to
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
The post Australian dollar Goldilocks appeared first on MacroBusiness.
By Lucinda Jerogin, associate economist at CBA: Real GDP surprised to the downside at 0.2%/qtr. The annual rate held steady at 1.3%. The current account deficit narrowed to $14.7 bn in Q1 25, driven by a $2.2 bn fall in the net income deficit. Home prices across the eight capital cities rose by 0.5% in
The post The economic week ahead appeared first on MacroBusiness.
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.
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
