Blogotariat

The ferrous complex is looking toppy. Yesterday’s June data was bad for Chinese steel. The only conclusion one can draw from this chart is that deep output cuts are underway. Private data is not capturing it. The decline of green steel continues. But both BOF and EAF output have topped at the mid-year peak well

The post Chinese steel sickens appeared first on MacroBusiness.

Last month, credit ratings firm S&P estimated that Australia’s state and federal governments’ combined budget deficits totalled $52 billion, with net debt exceeding 60% of GDP. This translates to a $1,897 per capita deficit and a net debt of $45,183 per person. Meanwhile, the aggregate net debt of the federal, state, and territorial governments is

Hare-Clark is basically unique amongst Australian electoral systems because there is a realistic possibility that a member of parliament will lose their seat to a fellow member of the same party – indeed it happens fairly regularly. Another unusual feature is the use of countbacks. Members of parliament often choose to quit mid-term, and are replaced by a fellow member of their party without the need for a by-election. But those mid-term replacements often struggle to retain their seats against other candidates at the following election.

All eyes were on the release of the latest US CPI print which accelerated over the year showing that the Trump regime’s tariff crusade is beginning to have an effect on domestic inflation. This is just the start as the full effect has not been seen yet, with the core goods CPI print had its

The post Macro Morning appeared first on MacroBusiness.

Roy Morgan has published its annual survey measuring the levels of trust and distrust that Australians have in the economy. Roy Morgan claims that Australia is becoming a “fragile nation”, with distrust in the entire economy rising, consumer confidence remaining in the doldrums for three years, and the nation’s social fabric under continuous stress. The

The post Australians no longer believe in the ‘Lucky Country’ appeared first on MacroBusiness.

Donald Trump is on the brink of tearing up his 'no foreign wars, pro-peace' pre-election pledge on Ukraine, with plans to deliver more weapons, and threats against Russia edging him closer toward inheriting "Biden's war." Sputnik asked a renowned US geopolitics and military affairs expert to break it down.

France’s Strategic National Review predicts a large-scale military conflict with Russia in Europe by 2030, despite Russia repeatedly rubbishing the scenario.

Why It's a Non-Starter

A meeting of the national cabinet in August 2023 agreed on a target of 1.2 million new homes to be built between 1 July 2024 and 1 July 2029. This 1.2 million target requires 240,000 homes to be constructed every year, which is a level that is around 7% higher than the record single-year construction

The post Nobody believes the government on housing appeared first on MacroBusiness.

Gina Rinehart has railed against net zero policies, but her mine managers boast of big savings from the rollout of solar and batteries at their sites, albeit at small scale.

The uneasy start to the trading week continues as markets weigh up the recent EU and Mexican tariff letters from the Trump regime while also awaiting tonight’s US CPI print that is sure to define risk for the rest of the month. The USD was up slightly after the weekend gap but is stalling out

The post Macro Afternoon appeared first on MacroBusiness.

Victoria commits another $6.6 million to new round of neighbourhood-scale battery program across the state.

New assessment puts greater focus on battery inverters to maintain heartbeat of grid as it reaches 100 pct renewables, but also underlines urgent need for syncons.