Dancing, dancing, dancing! There is no stopping the iron-ore-crazy man. Except for one small problem. Steel mill margins are being obliterated. These developments will weaken the start of 2026 steel production, especially because steel product inventories are higher than last year. And there is another problem. The iron-ore-crazy man is dancing on top of the
Robber Fly with catch Photo courtesy of Geoff McVeigh Reads (more coming) Why is Trump interested in Greenland? Look to the thawing Arctic ice – The Guardian Here’s why Labour is struggling to deliver: the British state is immense, but pull the levers and nothing happens – The Guardian The Bondi
Je vois des peuples infortunés gémissants sous un joug de fer, le genre humain écrasé par une poignée d’oppresseurs, une foule affamée, accablée de peine et de faim, dont le riche boit en paix le sang et les larmes, et partout le fort armé contre le faible du redoutable pouvoir des lois...
Former US Secretary of State and CIA Director Mike Pompeo seems irked that the Ukraine conflict could end without Russia groveling and handing over concessions on a silver platter.
The Australian government remains silent on Israel banning 37 international aid organisations in Gaza, despite warnings from humanitarian groups. Stephanie Tran reports.
Asian share markets are generally higher in the final session of the week however are hedging what will come later tonight with the expected US Supreme Court ruling on the Trump regime’s tariffs and the post-government shutdown employment print – aka the NFP. News that Trump wants to make his own QE by purchasing $200
The Aussie trade balance for November was out yesterday and shows one great, big trend: a disappearing trade surplus. Some of this was always going to happen as the post-Ukraine War commodities mania subsided. I expect we’ll be running a deficit by year’s end as iron ore and energy continue to fall, despite gold. There
Calculated Risk sums the data. On Friday at 8:30 AM ET, the BLS will release the employment report for December. The consensus is for 55,000 jobs added, and for the unemployment rate to decrease to 4.5%. There were 64,000 jobs added in November, and the unemployment rate was at 4.6%. From Goldman Sachs: We forecast that
Charts from TME. SPX is caught in a bearish rising wedge, tough it could also be seen as a bullsh asending triangle. Tech is more neutral and could go either way from a symmetrical triangle. The NY rotation has been from tech to the broader market, or, put another way, from AI spenders to AI
As of the latest building approvals data from the ABS, in the last 12 months, 111,500 detached houses were approved for construction. This result comes with both good news and bad news. The good news is that the figure for detached house approvals is up by 6,800 homes from the lows seen in December 2023.