Nordea sees it as slow and painful and not just in America. ——————————————————————————————————————————- The global economy continues to lose momentum, but central banks will concentrate on their efforts to rein in inflation. Long yields will rebound to higher levels, while the EUR/USD has more downside left. Many leading economic indicators have taken a beating, and
The Market Ear with more on how far the bear market rally has run to correct market positioning. Short covering getting extreme Short covering getting extreme as net US hedge fund flows turn positive. JPM writes: “…the short covering has been the main driver of late and is now one of the most extreme in the
The ferrous complex was firm on Friday, August 12, 2022: The outlook remains poor. Last week’s MySteel indexes were weak again, cement remains glutted and excavator usage is falling: With property sales once again falling away as credit issuance stalls, larger downside scenarios for property have opened up. The last two weeks of sales have
Stock markets finished the trading week with vigour on Friday night with big gains on Wall Street as inflation expectations may have peaked with the latest US CPI print. The USD returned to form and gained some 0.5% against the major currencies with Euro in the main retracing back most of its post-CPI gains, while
Chinese credit was out Friday night and it is in all sorts. After a few good months, credit flow hit the wall in July printing just 756bn yuan: Year on year growth plunged into the red: The rolling annual is still trending down: Year to date flow has dropped below 2021: Credit stock has barely
Australia’s great power shock correction continues today as the gas price sits at around $17Gj allowing electricity prices to establish a new lower range, though still triple more traditional prices: Believe it or not, these prices are still high enough to double utility bills in the next year! The egregious leftie press has taken a
DXY was up Friday night: AUD is on a rampage: Oil eased: Metals too: The AUD miners are not rebounding much: EM stocks popped: Junk is food for bulls: But the Treasury curve is still deeply inverted: As stocks price Nirvana: Contrary to wider bullishness and FOMO, markets are getting more short AUD: While stock
After initiating for months, the Albanese Government confirmed over the weekend that it would use the upcoming Jobs & Skills Summit as cover to launch Australia’s biggest ever immigration program: The government wants to increase the migration intake to between 180,000 and 200,000 a year, which would bring in more skilled migrants including tradies, IT
Dr Cameron Murray – author of the Book Game of Mates – gave stunning testimony to the parliamentary inquiry into housing affordability, whereby he documented how developers manipulate the land market to ration supply and maximise their profits. Shortly afterwards, ‘Highrise’ Harry Triguboff’s explained how Meriton had deliberately withheld apartment stock from the market to
Global Macro / Markets / Investing: Wall Street Is Mostly to Blame for Rising Commodity Prices – Jacobin Back-From-Dead Stocks Show Near-Limitless Tolerance for Trouble – Bloomberg U.S. Stocks Finish Higher, Extending Rally – WSJ Advertisers Plan To Use ‘Dream-Hacking’ To Implant Branding Into Your Dreams – Contxmedia Dow up 180 points as U.S. stocks