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Cheeseburger Gothic Monday, February 26, 2024 - 16:23 Source

I see that aviator jackets are back. Specifically, fleece-lined bomber jackets, the sort of thing a chap would wear to climb into his Lancaster or B17 before popping over the channel to drop a bit of payback on of Mr Hitler's minions. Apparently, it's because of Masters of the Air.

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Renew Economy Monday, February 26, 2024 - 15:23 Source
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Renew Economy Monday, February 26, 2024 - 15:20 Source
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Renew Economy Monday, February 26, 2024 - 15:20 Source
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MacroBusiness Monday, February 26, 2024 - 14:00 Source

Over the last month, we have witnessed several major New Zealand banks become more hawkish on interest rates, despite clear signs that the economy is weakening and inflation is easing. ANZ is particularly hawkish, tipping that the Reserve Bank will hike the official cash rate (OCR) by 0.25% at both its February and April meetings.

The post Reserve Bank confronts recession economy appeared first on MacroBusiness.

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John Quiggin Monday, February 26, 2024 - 13:51 Source

My latest in The Guardian

Just two weeks after Prof Allan Fels reported on the extent of monopoly power and resultant price gouging, Australia’s supreme body on competition law has delivered its answer.

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MacroBusiness Monday, February 26, 2024 - 13:30 Source

ANZ Bank senior economist Adelaide Timbrell says higher mortgage interest rates appear to have weighed on house price growth in Sydney and Melbourne in recent months. She adds that this trend is likely to continue in early 2024. The bank has downgraded its house price growth forecast for Sydney in 2024 to 4-5%, compared with

The post Australian house prices turn two-speed appeared first on MacroBusiness.

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John Quiggin Monday, February 26, 2024 - 13:09 Source

Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.

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MacroBusiness Monday, February 26, 2024 - 13:00 Source

Figures to be released by the Interactive Advertising Bureau show that online advertising market spending rose by just 3.7% in 2023, increasing from $14.19 billion to $14.72 billion. It was the slowest rate of growth in online advertising since 2020, with interest rates impacting expenditures by advertisers. According to industry sources, uncertainties about interest rates

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Renew Economy Monday, February 26, 2024 - 12:57 Source
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Renew Economy Monday, February 26, 2024 - 12:41 Source
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Renew Economy Monday, February 26, 2024 - 12:41 Source
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MacroBusiness Monday, February 26, 2024 - 12:30 Source

CBA economist, Stephen Wu, has released the bank’s preview of the January inflation indicator, scheduled for release on Wednesday by the Australian Bureau of Statistics (ABS). CBA forecasts that the ABS CPI Indicator will record a 3.5% rise in January, up slightly from 3.4% in December. Wu notes that “housing is expected to remain the

The post Housing inflation haunts RBA appeared first on MacroBusiness.

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Renew Economy Monday, February 26, 2024 - 12:20 Source
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MacroBusiness Monday, February 26, 2024 - 12:00 Source

God save us from the iMSM and Ronald Mizen: Confidential Treasury analysis shows decade high wages growth that has pushed the average fulltime salary above $100,000 is now the biggest driver of consumer price inflation, undercutting claims widespread corporate profit gouging is to blame. Pay rises overtook import prices and supply shocks to form the

The post Treasury shares crack pipe with RBA appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 11:30 Source

Does The Guardian have a cookie cutter for these “politicians“? Meaghan Scanlon, 31, says the severity of the housing crisis has led to a greater appetite for planning reform A Gold Coast renter who turns 31 this month, new Queensland planning minister, Meaghan Scanlon, is a self-confessed “Yimby”. To Scanlon, fixing the state’s housing crisis

The post The Guardian emigrates to Planet Gobbledygook appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 11:00 Source

Australia’s biggest toll road operator, Transurban, reported a net profit of $230 million for the six months ended December 2023, more than quadrupling its previous corresponding result. Traffic on Transurban’s toll roads also increased by 1.2% in Sydney, 2.6% in Brisbane, and 2.3% in Melbourne. Twitter (X) user Peter Morgan questioned why Transurban has been

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xkcd.com Monday, February 26, 2024 - 11:00 Source

[later] I'm pleased to report we're now identifying and replacing hundreds of outdated metrics per hour.

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MacroBusiness Monday, February 26, 2024 - 10:30 Source

On Saturday morning, I was interviewed by Luke Grant at Radio 2GB, where I broke down the latest household income and wage data for Australia, among other things. Edited Transcript: Australia has just seen the world’s biggest decline in living standards if you measure it by real per capita household disposable income. Real per capita

The post Australian households are getting poorer appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 10:00 Source

The Market Ear on the running of the bulls. Everybody bearish has either died or left the trade We went bearish on the 15h of February and bought puts on the S&P500. Even though that is just 6 trading days and 1.2% ago it feels like we now are in a complete different world –

The post Overboughterer appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 09:30 Source

Peak fat is here, and Goldman is right to be a buff bull about it.  The emergence of weight-loss medications, AI-powered drug discovery, genomic and regenerative medicine techniques such as gene and cell therapy, and advances in diagnostics for detection of diseases such as Alzheimer’s imply are markable pace of healthcare innovation that could significantly

The post Peak Fat astonishingly bullish appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 09:00 Source

Friday night saw Wall Street put in another new record high but only just as confidence wavered as the S&P500 touched the 5100 point level before finishing just one point higher. European markets continued their climb higher while the US Treasury bond market saw some interesting volatility with 30 year and 10 year yields dropping

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 08:30 Source

All my favourite strategists are bearish. Michael Hartnett at BofA is bearish. Jeremy Grantham at GMO is bearish. Even Warren Buffet at Berkshire is bearish: “Warren Buffett has warned Berkshire Hathaway shareholders that his sprawling $US905 billion ($1.38 trillion) conglomerate has virtually “no possibility of eye-popping performance” in the years ahead, laying bare the challenges

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MacroBusiness Monday, February 26, 2024 - 08:00 Source

Finally, somebody else is making sense on iron ore: Iron ore prices have run too hard and are now susceptible to a battery mineral-style collapse amid an imminent surge in supply and questions over demand for Australia’s largest export, investment manager Yarra Capital predicts. If true, that could trigger a $US50 a tonne drop in

The post Pilbara killer to wreak iron ore “carnage” appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 07:30 Source

A fresh batch of Chinese property data has arrived for the LNY period and shows no sign of a bottom for floor area sales: Developer finance remains shut off: Prices are falling everywhere: The National Bureau of Statistics’ 70-city house price data suggests the weightedaverage property price in the primary market fell sequentially in January

The post Chinese property tumbles down bottomless pit appeared first on MacroBusiness.

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The Tally Room Monday, February 26, 2024 - 07:00 Source

Ben was joined by Stewart Jackson from the University of Sydney and Tasmanian political scientist Mike Lester to preview next month’s Tasmanian state election.

We discuss the widening field of independent candidates, political events in the last term and the issues around the 25-member House that led to the expansion of the Parliament. We also briefly touch on this weekend’s Dunkley by-election.

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MacroBusiness Monday, February 26, 2024 - 07:00 Source

Everybody hates Albo: Labor’s primary vote has dropped to 33 per cent ahead of Saturday’s critical Dunkley by-election, with Anthony Albanese’s approval ratings remaining in negative territory despite the government retaining its lead over the Coalition on preferences. An exclusive Newspoll conducted for The Australian shows a one-point fall in support for Labor since the

The post Why everybody hates Albo appeared first on MacroBusiness.

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Your Democracy Monday, February 26, 2024 - 06:00 Source

Vladimir Putin’s Russia is “not the Russia that we wanted,” Acting US Deputy Secretary of State Victoria Nuland has told CNN. Nuland explained that Washington wanted a compliant leader in the Kremlin who would “westernize” the country.

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MacroBusiness Monday, February 26, 2024 - 00:10 Source

SQM Research managing director, Louis Christopher, appeared on Radio 2GB on Saturday, where he debunked the myth that Australia’s current rental crisis is being driven by a lack of supply. Christopher instead pins most of the blame on the federal government’s Big Australia immigration program, which is growing the population faster than homes can be

The post Houston, we have a rent problem appeared first on MacroBusiness.

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MacroBusiness Monday, February 26, 2024 - 00:05 Source

Thanks, East Coast Gas Cartel. The global energy price crash has turned wonderfully unruly as a gas glut builds worldwide. Everywhere you look, seasonal inventories are brimming over after a warm northern hemisphere winter. The Asian gas price is today $9.80Gj netback, amid a glut: The European price is $9.50Gj netback, amid a glut: The

The post As global energy craters, Aussie prices rocket appeared first on MacroBusiness.

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