A further rally on Wall Street overnight due to more solid earnings which overshadowed the subprime drama in regional banks, helped along by a positive reaction here in Asia in yesterday’s session to strong Chinese GDP numbers. The AUKUS trap seems to be closing as the Trump regime signed a minerals deal with Albo in
The post Macro Morning appeared first on MacroBusiness.
DXY is up. So is AUD. And CNY. Gold is unstoppable. Oil screwed. Metals confused. Miners rising debasement out of the bear market but the iron ore challenge looms. EM to the moon. Junk less worried. Yields down. Stocks up. Not much data again. More soothing from the loon on trade but today’s gong
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Paenitentia, Solitudo et Silentium
"The universe contracted; at its exact geometric center floated that sandy tidbit of dark bread and pale cheese.*"
Former Trump national security advisor John Bolton has been indicted in Maryland on 18 federal counts of violating the Espionage Act, which is kind of poetic for a guy who’s spent a career demanding that everyone else get indicted for leaking things.
Bolton pleaded not guilty and will now enjoy the same due process that he’s long tried to deny whistleblowers, journalists, and the occasional sovereign nation.
Australia’s auction market performed solidly again over the weekend, despite a high number of listings. According to Cotality, the national preliminary auction clearance rate rose to 73.8%, up from 73.0% the weekend prior and 58.2% in the same weekend of last year. “The clearance rate is an indicator that prices are going to continue to
The EU is doing everything in its power to undermine the upcoming summit between Russian President Vladimir Putin and his US counterpart, Donald Trump, the Russian Foreign Ministry has said.
Ministry spokeswoman Maria Zakharova told TASS on Monday that the bloc is carrying out “active subversive actions” ahead of the planned meeting in the Hungarian capital, Budapest.
Asian share markets have rebounded strongly on the TACO trade as the Trump regime looks like folding yet again over its tariff threats on China while the USD tries to take back a lot of lost ground against the majors but is only barely making headway. The latest Chinese GDP print didn’t scare the Australian
The post Macro Afternoon appeared first on MacroBusiness.
New Zealand experienced one of the developed world’s largest rises in home values over the first 25 years of this century. However, as illustrated below by Justin Fabo from Antipodean Macro, New Zealand dwelling values have recently crashed back to 2019 levels, representing one of the largest property busts in the developed world. One year
There are two main reasons why the federal government supports running a high immigration program. First, immigration benefits overall economic growth, as measured by headline GDP. Running a high immigration policy allows the federal government to pretend to be a competent economic manager, even when per capita GDP growth is poor and individual living standards
