Ukrainian leader Vladimir Zelensky could fire his influential chief of staff, Andrey Yermak, as a full-scale “riot”unfolds within parliament over a vast corruption scandal that allegedly links Yermak to a roughly $100 million kick-back scheme in the country’s energy sector, according to several media reports and lawmakers.
It’s been three long, very long weeks, but the scaffolding finally came down around the house this morning. It went up so the roofers could get up top and repair some damage I didn’t even know was up there.
Stocks across Asia had mixed sessions today with domestic pressures overriding the bigger macro picture with tensions between China and Japan still boiling over. Most undollars fell back during the session, especially the Kiwi on the poor PPI print while the Australian dollar lost its gains from overnight on the wages data while Bitcoin briefly
The post Macro Afternoon appeared first on MacroBusiness.
I have argued repeatedly that rising unemployment is the key condition that must be met for the Reserve Bank of Australia (RBA) to deliver another interest rate cut. As illustrated below by Alex Joiner from IFM Investors, the latest Statement of Monetary Policy (SoMP) from the RBA forecasts that the headline unemployment rate will remain
In the first poll after his inauguration, from YouGov, U.S. President Trump held a surprisingly strong level of net approval among Americans aged 18 to 29. Of all the age demographics assessed, 18 to 29, 30 to 44, 45 to 64 and 65+, Trump held his second-highest net approval rating in the 18 to 29
The post Trump’s support implodes with the young appeared first on MacroBusiness.
I bumped into a quote by Frank Zappa on Sunday. It was: “The illusion of freedom will continue as long as it’s profitable to continue the illusion. At the point where the illusion becomes too expensive to maintain, they will just take down the scenery, they will pull back the curtains, they will move the tables and chairs out of the way and you will see the brick wall at the back of the theatre”1.
The great Chinese property crash is, once again, worsening. It’s another banner year for lost hope. Sentiment disappears. Far-flung cities are the most troubled. Completions are going the way of all flesh. The Chinese consumer is deleveraging. Talk of rebalancing towards consumption at this point is a joke.
The post Chinese property down, down and down appeared first on MacroBusiness.
The Australian Bureau of Statistics (ABS) has released the wage price index for the September quarter of 2025, which reported a quarterly increase of 0.8% and an annual increase of 3.4%: The outcome aligned with the Reserve Bank of Australia’s (RBA) and market expectations, posing no significant policy implications. The following chart shows that public