It sounds huge. China is on the cusp of its biggest move yet to open up its vast commodities markets, after the Shanghai Futures Exchange unveiled an internationalization plan to streamline access for overseas investors. The country’s biggest raw materials bourse is soliciting views on a proposal to let participants post foreign exchange as collateral for yuan-denominated trades, according
Modelling undertaken by Tulipwood Economics on behalf of the Council of Small Business Organisations of Australia suggests that reducing the sector’s tax take could significantly boost economic activity. The modelling claims that reducing the tax rate for small businesses from 25% to 20% could increase GDP by between $5.2 billion and $11 billion over the
Greens leader Larissa Waters gave a wide-ranging interview, declaring that the environment is in the party’s DNA and will remain a key focus. “Yes, of course, we formed originally out of the environment and climate movement and, yes, that’s in our DNA”, she said. Waters’ declaration comes amid the backdrop of the party’s immigration policy,
Nick Reece, Melbourne’s Lord Mayor and prominent promoter of mass immigration, believes he has the solution to the city’s housing crisis and failing economy: more migrants and international students. Late last year, Reece announced that he was actively canvassing Chinese and Indian companies to open headquarters in Melbourne, citing the city’s large Indian and Chinese
DXY is hanging on again. AUD is still grinding up but failing to launch Leads boots are climbing Gold and oil shaky. Metals no bueno. EM meh. Junk all clear. Yields eased. Stocks eased. It is a strange new world in which both DXY and AUD are heavily shorted so both may climb at any
The release of a set of “real” FOMC minutes sent Wall Street lower overnight as the Fed reiterated its fears about a US recession in the wake of the Trump regime’s tariffs, even with all the TACO drippings that seem to follow each new threat and bluster. The real effect on isolation of the US
In the early 2000s, the federal Labor government made the disastrous decision to allow the export of liquefied natural gas (LNG) from Queensland without forcing gas companies to first supply Australians. Gary Grey, the then-Federal Resources Minister under the Gillard/Rudd Labor governments, argued that domestic gas reserve policies create uncertainty and discourage investment, pitting the
A couple of comments from the BOJ over the Japanese bond market and the ongoing trade war with the US didn’t upset most risk markets in Asia as they move in correlation with a resurgent Wall Street. The latest local inflation figures came in a little hotter than expected but this was overshadowed somewhat by
The Market Ear looks at the hated rally. Intact SPX’s steep trend channel since April panic lows remains intact. So far a perfect bounce on the lower part of the trend channel and the 21 day moving average. Support 5800, resistance 6000. Source: LSEG Workspace Missing even more Non dealers reduced the US equity futures
More yawnulus please. Sales pancaked. Inventory a bit better. Completions down, down. It really doesn’t matter how much floor area developers sell, the enormous shadow inventory or unsold, empty, furloughed, half-built, half-dug apartments won’t run out for another 10k years. Iron ore demand to keep falling.