The Market Ear on the great AI inflation. “Lagom” – not too hot, not too cold Here’s the must-see flow & positioning data from the weekend — a continuation of the “Lagom” theme: not too hot, not too cold. Continued hedge funds de-risking and strange record Russell shorts meets continued systematic and retail buying. De-grossed
The post AI bubble expands appeared first on MacroBusiness.
Out of all nations on earth, Canada is arguably the most similar to Australia. Both nations are resource-rich, hosting relatively small populations on massive landmasses. The overwhelming majority of the population lives in small pockets where the weather is most favourable. The bulk of Australia’s population lives on the East Coast, whereas the bulk of
The ferrous complex continues typical seasonal trading. This is all rather silly. Bloomberg. Iron ore gained after a Chinese consultancy said several steel mills had been told by authorities they will need to temporarily halt production later this month due to air pollution concerns.\ I know the market likes to be contrarian, but steel cuts
In the world of United States economics, it has been said that “the construction cycle is the economic cycle”. Looking at the data, there is certainly a degree of truth to that, with the number of homes under construction peaking and then falling significantly prior to 4 of the last 6 non-pandemic-related recessions. Perhaps the
The post The construction cycle is the economy appeared first on MacroBusiness.
New Zealand’s economy continues to struggle. The nation’s labour market has seen unemployment and underutilisation rates soar to near-decade highs outside of the pandemic. New New Zealand has lost close to 40,000 jobs since late 2023, with younger workers bearing the brunt. Unofficial labour market indicators, including SEEK’s job ad and applications per job ad
America is well prepared for the AI shock that is underway in its entry-level positions. It has sensibly reduced immigration to zero, ensuring that local youth are not competing with cheap foreign labour. Even so, there is increasing evidence that AI is moving faster than the economy can keep up. A few days ago, I
The post AI shock rips into American and Aussie youth appeared first on MacroBusiness.
As anyone who reads my stuff knows, I have been kicked off Facebook permanently, and while initially confused as to why it happened, I came to the conclusion that it was because of my posts about the genocide under way in Gaza and the running of the community standards system by zionists1. At the time, I said I’d look around for alternatives.
Melbourne’s housing market has experienced a long period of price stagnation compared with the other major capital cities. According to PropTrack, Melbourne’s median dwelling values rose by only 19.2% in the five years to July, compared with an average increase across the combined capital cities of 45.5%. Melbourne’s median dwelling value in July 2025 was
DXY is back! AUD is not. Lead boots plod on. Gold bashed. Metals too. Big bear intact. EM shaky. Junk fine. The curve steepened. Stocks sold. At issue is the US CPI tomorrow. Goldman. Our analysis implies that tariff effects have boosted the core PCE price level by0.20% so far. We expect another 0.16% impact
The post Australian dollar burned by inflation appeared first on MacroBusiness.
Research by the McKell Institute warns that thousands of manufacturing jobs in Australia are at risk, particularly in regional areas The report claims that China’s “aggressive” industrial subsidisation, now likely exceeding its defence spending, risks shuttering some 73,000 jobs in Australian regions reliant on refining and smelting metals. “In the short-term, China’s geoeconomic strategy is
If productivity is about doing more with less, electrification of our cars and homes is a no-brainer
Asian share markets are having a much better start to the trading week although Japanese markets are closed for yet another holiday as Bitcoin and other crypto currencies are seeing big bids. Yen was relatively steady against USD as expected while Euro is climbing again as the Australian dollar holds firm above the 65 cent
The post Macro Afternoon appeared first on MacroBusiness.