Articles from MacroBusiness

Foreign nationals jump queue ahead of stranded Australians

One of the most disgusting situations to arise from the coronavirus pandemic is the utter disdain shown by Australia’s governments towards citizens stranded abroad. Many of these abandoned Australians have been unable to return to Australia due to hard caps on quarantine places as well as the extortionate cost and lack of availability of flights.

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Morrison gaslights globe on climate

We know he can’t “read the room” owing to a personality disorder that inhibits empathy. But this is a whole new magnitude of expression for it. Welcome to Planet Morrison where it’s hot, entire countries sink from sight and we feed their drowning populations with scorn: PM Morrison told the Biden climate summit that Australia

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Macro Morning

Several events pushed around risk markets overnight, thwarting the bounceback on stocks on Wall Street with the latest tax increase by President Biden the main stopper. In the background, the latest ECB meeting went as expected but still involved some volatility around USD as the latest initial jobless claims came in under than expected. Bond

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Biden bashes Australian dollar

The Australian dollar tumbled again last night as risk took another hit. We can expect this rising volatility to continue to post-COVID policy changes take their poll. DXY was firm as the safe-haven bid returned: The Australian dollar is still wrestling with a huge head and shoulders topping pattern versus DXY and is sliding against

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Australia’s property boom is beginning to slow

CoreLogic’s Research Director, Tim Lawless, has released a terrific report showing seven early signs that the record-breaking Australian property price boom is beginning to slow. First, CoreLogic’s daily dwelling values index has shown a clear slowdown in growth across all major markets other than Adelaide: Second, auction clearance rates have retraced after reaching their highest

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CoreLogic weekly house price update: Another big rise

In the week ended 22 April 2021, CoreLogic’s daily dwelling values index, which measures price changes across the five major capital city markets, rose another 0.47%: Sydney led the way yet again, recording a massive 0.66% increase in values. This was followed by Adelaide (0.50%), Brisbane (0.46%), Melbourne (0.33%) and Perth (0.08%). So far in

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Links 23 April 2021

Global Macro / Markets / Investing: Nuclear power and growth – John Cochrane Oil prices drop as India’s COVID-19 surge dents demand outlook – Guardian Mag America’s Neoliberal Financialization Policy vs. China’s Industrial Socialism – UNZ Global middle class shrinks for first time since 1990s – Aljazeera The legality of cryptocurrencies in front of central

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Macro Afternoon

Asia stocks have put on a mixed rebound to the reversal on Wall Street overnight as the USD is firming slightly against all the majors except Yen and Chinese Yuan as Euro and Pound Sterling remain relatively stable. Bitcoin just get out of the hole its dug all week, briefly dipping down to a new

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Biden puts heat on Morrison climate lies

Our Gaslighter-in-Chief is having his climate bluff called. After yesterday promising an absurdly low $500m in new carbon taxes, the Biden administration is having none of it: The Biden administration has demanded deeper carbon cuts from Australia. “Technology not taxes” is insufficient said a senior official. The US is expected to announce roughly double Australia

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Work from home shift structural

Moran Stanley with the note: We disagree with investors who argue that work from home is temporary, Office REITs have room to run, and the cycle has peaked for Tech. Our AlphaWise work suggests the opposite: The new workplace creates divergent cycles — shorter/lower for Office, longer/higherf or Tech. Adjusting ratings, PTs. The REITs, Networking

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