Another mixed day for Asian stock markets without a clear lead from Wall Street overnight as political machinations and a few central bank speeches within the region. The USD was largely unchanged although some commodity currencies moved higher while gold and the Australian dollar remained steady after holding on to their post weekend gap gains.
The post Macro Afternoon appeared first on MacroBusiness.
Although I’m not quite sure how much I can offer Mr Zhang’s steel and ironmongery…
When one mentions Zbigniew Brzezinski, it is like advancing the concept that the devil is a great proponent of Christianity because it gives him (the devil is male, transgender or female — depending on your bent) more material to work with.
The Reserve Bank of New Zealand has slashed the official cash rate by 300 bps to 2.5%. Given New Zealand’s weak economy, which last week saw unemployment and underemployment increase to their highest rate since the pandemic peak, expectations are that the Reserve Bank will deliver additional rate relief heading into 2026. As illustrated below
JPM on the AI data centre rollout. It is large. The global data center and AI build-out will be an extraordinary and sustained capital markets event. Building out global data center and AI infrastructure and related power supplies could cost over $5 trillion in our view, with at least one consultant calling for $7 trillion
The post AI to the moon appeared first on MacroBusiness.
Sales in lower-tier Chinese cities are not going well. At the aggregate level, a hopeful year has turned bust. Inventory isn’t going anywhere. Yet completions remain stable. This has to fall, or the market will never adjust. Only forever to go.
The post Chinese property plunges into the abyss appeared first on MacroBusiness.
The ABS updated its biannual series on life expectancy yesterday, and, according to the numbers, you will now, on average, die a few months earlier than before Albo’s election win. We should probably acknowledge some role for COVID, given that the dip has been a global phenomenon. We can ship that home to Albo’s mates
The post An earlier, poorer death for Australians appeared first on MacroBusiness.