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MacroBusiness Tuesday, May 20, 2025 - 16:30 Source

Risk markets in Asia are somewhat mixed in reaction to the flat sessions on Wall Street overnight with the Friday night cut by ratings agency Moody on US debt still reveberating, particularly within bond markets. The Trump regime is still failing to make deals with Japan which is seeing further strength in Yen while today’s

The post Macro Afternoon appeared first on MacroBusiness.

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The Tally Room Tuesday, May 20, 2025 - 14:48 Source

The AEC has now commenced the distribution of preferences for the seat of Calwell. Normally the AEC does not publish distribution of preference data until the count has concluded, but in recognition of the great deal of public interest the AEC has published a page where they will post the latest DoP data after each round of the count.

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MacroBusiness Tuesday, May 20, 2025 - 14:41 Source

As widely expected by financial markets and economists, the Reserve Bank of Australia (RBA) lowered the official cash rate (OCR) by 0.25% to 3.85%. In coming to its decision, the statement noted that “inflation continues to moderate”, with “annual trimmed mean inflation (2.9%) was below 3% for the first time since 2021 and headline inflation

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MacroBusiness Tuesday, May 20, 2025 - 14:00 Source

Treasurer Jim Chalmers has not ruled out extending the federal government’s $6.8 billion energy rebates again. It was originally meant to expire in mid-2025, but has been extended for another six months. “From budget to budget, we see if we can do more”, Chalmers has said. Some members of Prime Minister Anthony Albanese’s Economic ­Inclusion

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MacroBusiness Tuesday, May 20, 2025 - 13:30 Source

Steel sagged while iron ore firmed. April output for steel fell back to earth. But it is still largely EAF that is pancaked, protecting iron ore. The property bust absorbs more long steel which was EAF focused. China is never going decarbonise steel at this rate.

The post Property crash saves iron ore appeared first on MacroBusiness.

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MacroBusiness Tuesday, May 20, 2025 - 13:00 Source

Australia faces an extended period of Labor Party rule following the collapse of the federal Coalition. National’s leader David Littleproud today announced that the party has separated from the Liberal Party for the upcoming federal election. Littleproud said that he and incoming Liberal leader Sussan Ley tried unsuccessfully to reach an agreement: “This morning after

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