Blogotariat

Asian stocks are in sell mode today as the poor lead from Wall Street overnight combined with the stronger USD sees risk sentiment sour, not helped by the German and US inflation prints coming in later tonight. The USD has pushed local currencies around again with the Australian dollar right on the mid 69 level

The post Macro Afternoon appeared first on MacroBusiness.

Last week, Roy Morgan Research reported that Jacinda Ardern’s Labour Party had clawed its way back into contention for next year’s election, after New Zealand Opposition leader, Chris Luxon, lied about holidaying in Hawaii. As shown in the next chart, National’s primary vote tanked 4% in July, whereas Labour’s rebounded 0.5%, according to Roy Morgan:

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New research by Finder shows that 37% of young Australians believe they will never be able to afford a home – up from 23% in 2021 – despite the expected sharp fall in house prices: Among gen Z non-homeowners, the percentage who believe they will never be able to afford a home has risen from

The post Nation kisses goodbye to Great Australian dream appeared first on MacroBusiness.

From my Substack

I know it’s not done to talk about anything important these days but too bad: Opposition Leader Peter Dutton is under pressure to adopt a more nuanced approach in the ­Coalition’s attacks on Beijing, with new analysis revealing massive swings against the Liberal Party in seats with high numbers of Chinese-Australian voters. The Australian can

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BofA pokes the elephant in the earnings room. As huge inventories are confronted with declining demand, corporate pricing power is going to collapse and margins crater. This is the downside of the inflation trade that is on the offing but not yet priced. Nearly 90% of 2Q earnings are in and 2Q EPS is tracking

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Roy Morgan has released it July inflation expectations survey, with inflation expectations hitting their highest level since August 2012. Inflation Expectations in July are a large 1.8% points higher than a year ago in July 2021, and 2.5% points above the near record low of 3.4% in July 2020. Inflation expectations have risen across the

The post Aussie inflation expectations hit 8-year high appeared first on MacroBusiness.

Academics from the University of Adelaide and the University of South Australia have commended the Albanese Government for announcing that it would establish a National Housing Supply and Affordability Council (NHSAC), claiming it “might be the year’s most important and impactful housing announcement” that “is a major step towards a considered and long-overdue national plan

A couple of nice chart series from The Market Ear today. US recession has been priced out. Recession is out People are forgetting about the recession, or is the recession not happening? Google Recession talk not spiking The proportion of firms mentioning “recession” in quarterly earnings calls came to a halt, way below COVID crash

The post Market squeeze prices out recession appeared first on MacroBusiness.

Risk sentiment is in hesitation mode as traders await the next US CPI print and the fallout from the Fed as tech stocks also took a battering. The USD remains strong against most of the major currencies although Euro tried to break out of its current funk, the Australian dollar is looking to roll over

The post Macro Morning appeared first on MacroBusiness.

No change yesterday as the gas cartel squeezed prices higher to $19Gj and NEM prices followed suit: The ACTU pulled no punches in a new report today: Implement a fairer inflation-reducing policy that protects workers’ incomes, prevents price gouging, and tackles the underlying sources of inflation, especially in energy and housing, and reduces the cost

The post ACTU demands regulation of “rapacious” energy cartels appeared first on MacroBusiness.