Oz Blog News Commentary

Articles from MacroBusiness

Onwards and downwards for iron ore

July 13, 2024 - 07:38 -- Admin

Shanghai rebar has put in a couple of days of weak bounce off the six-year support line. The jaws to iron ore remain paralysing for steel mill margins: Dalian iron ore is levitating as well: Coking coal likewise: There was nothing much reassuring in yesterday’s Chinese data. Credit was terrible. Trade was a big yawn

Weekend Reading and MB Media Appearances

July 13, 2024 - 00:05 -- Admin

International Reads: Treasury, IRS announce ‘major milestone’ of $1 billion in past-due taxes collected from millionaires – CNBC Investors scooped up close to 15% of homes sold in first quarter—‘a bigger piece of the pie than in any other’ – Fortune Elon Musk’s Net Worth Drops $11 Billion After Tesla Reportedly Delays Robotaxi Launch –

Reserve Bank prepares for rate cuts

July 12, 2024 - 14:00 -- Admin

The Reserve Bank of New Zealand this week left the official cash rate on hold at an overly restrictive 5.50%. However, in its commentary accompanying its decision, the Reserve Bank took a dovish view, suggesting that it is preparing to cut rates in the near future. In particular, the Reserve Bank noted that New Zealand’s