What a goose Albo is. He’s put Rudd in Washington to torpedo ANZUS and then used that as an excuse to cuddle up to Beijing. But the bill is coming due. A Trump administration review of the $368 billion AUKUS pact could see the US demand Australia pay more for submarines, The Sydney Morning Herald
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The Market Ear with more. Negative asymmetry for equities near-term Goldman’s macro strategists are not buying the summer melt-up thesis and are sounding more cautious than in a while. “We are tactically neutral in our asset allocation (OW cash, N equities/credit/bonds, UW commodities). We still expect a worsening growth/inflation mix in 2H and elevated risk
This is the ship of fools that nearly cut rates 50bps in May, then didn’t cut at all in the following meeting despite an economy that had clearly deteriorated. Chair Michele Bullock is not a macroeconomist. Deputy chair Andrew Hauser is a macroeconomist Marnie Baker AM is not a macroeconomist. Renée Fry-McKibbin is a macroeconomist.
DXY is trying to rally. AUD has flamed out despite RBA’s inept monetary policy. Lead boots are going downhill again. Gold is shaky, oil stupid. The copper chaos intensifies. Miners meh. EM meh. Junk up. With yields down. A stalled EUR is rescuing stocks. UBS captures the moment. British pop group Bucks Fizz gained international
Overnight saw Wall Street rebound on the back of tech stocks with NVIDIA leading the way while broader industrials were dragged along amid the tariff chaos. Its becoming increasingly clear the Trump regime is using the tariff mechanism to browbeat, bully and extort trading “partners” not due to trade imbalances (real or imagined) but as
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"Dulce et decorum est pro patria mori'*
Is all very well, but I think that before I
Would try it, I'd rather the maxim were amended
Thus-'Patriots are more useful living than when dead.'
In deciding to hold off on another interest rate cut, the Reserve Bank’s board appears to be waiting to find out what the past was like. Michael Pascoe reports.
Australia is facing the prospect of a Trump administration review demanding it pay more for submarines under the $368 billion AUKUS pact and guarantee the boats support the US in a conflict over Taiwan.
Sources familiar with the review by Trump’s Undersecretary of Defence, Elbridge Colby, believe he intends to urge major changes to the program before Australia can get the nuclear submarines it has been promised.
Amid rising global instability, Washington’s aggressive pursuit of nuclear and geopolitical dominance threatens the foundation of multipolarity—and China knows it.
Washington Warns Beijing and Its Partners: “The Bomb Will Not Save Multipolarity”
Lama El Horr
When Russia recognized the Islamic Emirate of Afghanistan last week, it didn’t just open a new embassy – it opened a new geopolitical front. For the first time since the Taliban’s return to power in 2021, a major world player has gone beyond informal contacts and embraced Kabul’s de facto rulers as legitimate partners.
Most Asian share markets are lifting higher despite a very weak lead from Wall Street, while local stocks are taking a double whammy due to the expected rate cut from the RBA turning into a hold and then the Trump regime’s bullying tariffs on pharmaceuticals. There’s more tariff announcements and letter printing on the way,
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