The ferrous jaws have eased, but nowhere near enough. The news is amusing for bears. BHP Group’s iron ore discounts following Chinese pressure are “optical, temporary and economically bounded” and don’t reflect a decline in the mining giant’s pricing power, according to RBC Capital Markets. The world’s largest mining company is deliberately absorbing the discounts
Wall Street came back from its long weekend holiday and sold off immediately in response to the EU revokation of the previous Trump-induced 2025 trade deal as the fallout from the shambles over Greenland hit all risk markets. Treasury yields spiked as European bondholders started selling off US bonds, with the 10 year up near
Mea culpa! DXY is not enjoying new Trump tariffs, while EUR is. Greenland TACO, anyone? AUD is a golden safe haven. Donald Dump has turned China from univestable to investment essential. Gold, gold, gold for Australia! AI metals smashed. Big miners are trying to outrun the iron ore black hole. Good luck with that. EM
Australia’s November CPI release from the Australian Bureau of Statistics (ABS) reported that housing inflation rose by 5.2% over the year to November 2025. This made housing the single largest contributor to annual inflation in that release. The following chart from Justin Fabo at Antipodean Macro illustrates the quarterly acceleration in housing inflation, which has
Wall Street futures fell sharply alongside the USD (and Bitcoin) while gold and undollars rose on the weekend tariff orders from the Trump regime, with the Europeans playing hardball. Asian share markets are all in the red given the risk off mood with the latest Chinese economic figures (and more importantly – population figures –
Goldman has an AI tracker series to add to the data mix. Adoption is accelerating fast for enterprises. White collar firms are leading the way. SMEs are not being left behind. AI is creating some jobs. Straya is an early adopter. More of a headwind to hiring rather than outright job losses so far. The
Stocks are at their ATH but are crumbling. Charts from TME. NDX breaks the wedge. Everybody bullish. More. Vol stirring. More. Instos all-in. Robots all in. CTAs all-in. Everybody on one side of the ship…
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The latest Newspoll revealed the enormity of the seismic shifts occurring in the tectonic plates that underpin federal politics. One Nation is now outpolling the Coalition on primary vote, 22% to 21%. For a Coalition already reeling from the lowest number of lower house seats in its history, this is a clear signal that the
This about sums it up. Equally, what’s with the Danes. Danish officials have decided not to attend the World Economic Forum in Davos this week amid an intensifying dispute over Greenland that’s shaking transatlantic relations. “Danish government representatives were invited this year, and any decisions on attendance are a matter for the government concerned,” the
In the years since the onset of the pandemic, the cost of American housing has risen to its highest level ever relative to incomes, significantly exceeding even the peak of affordability concerns during the previous U.S. housing bubble. As a result of higher prices and significantly higher interest rates than previously, housing turnover has dropped