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Articles from MacroBusiness

Aussie mortgage growth fades away

September 29, 2023 - 11:52 -- Admin

The Reserve Bank of Australia (RBA) has published data on outstanding mortgage debt, which increased by 0.31% in August to be up only 0.9% for the quarter: It was the weakest quarter of mortgage growth since October 2020 during the height of the pandemic. Owner-occupier mortgage credit growth rose by 1.0% over the quarter, whereas

Posh Teal pretends to care about environment

September 29, 2023 - 11:30 -- Admin

Allegra Spender’s cognitive dissonance as Teal independent MP for Sydney’s upscale seat of Wentworth never ceases to astound. Last year, Spender sought a significant increase in immigration into Australia, claiming that “migration is a priority in Wentworth” (see here and here). Spender recently decried Australia’s rental crisis while supporting the Albanese Government’s record immigration policies,

Too many bears again

September 29, 2023 - 11:00 -- Admin

The Market Ear on stretched markets. Too many bears The spread between AAII bulls-bears has collapsed lately. Similar “moves” in sentiment has resulted in brutal SPX bounces. Refinitiv Keep it simple NASDAQ bouncing on big support levels… Refinitiv Less “freaky” VIX The VIX inverted vs SPX gap is shrinking rapidly. Regular readers of TME are

Chinese property is not recovering

September 29, 2023 - 09:30 -- Admin

The latest charts are from BofA which seems unable to read its own chart. Property sales are down year on year, up for second hand: The land auction premiums says it all about L-shaped recovery: Instracuture bonds are down sharply year on year as well: Cement tells the tale: Actually, s does steel, but less

Australian dollar false break

September 29, 2023 - 09:00 -- Admin

DXY reversed hard: AUD too: It isn;t obvious that CNY is a semi-floating currency: Brent rolled: Dirt soared: EM stock not so much: But miners popped: Junk firmed: Yields eased slightly: Stocks bounced but did not recapture support: US GDP revisions offered the market reprieve as the consumer was marked down. Goldman has more. Real

Watercooler reads and videos: 25 to 29 September

September 28, 2023 - 22:01 -- Admin

Local Reads: Greens want superannuation theft made a crime in Labor’s workplace bill – The Guardian Australian students shun education degrees as fears grow over ‘unprecedented’ teacher shortage – The Guardian Waiting for a crisis: Fears as NSW enters festival season without drug reform – The SMH Coalmine approvals in Australia this year could add