Under progressive leadership regimes, the Australian central bank has become ever more corrupt and unable to speak truth to power, especially when it comes to the single most important macroeconomic input into the economy: immigration. Just this week, we had another analysis from RBA boffin Sarah Hunter, which refused to acknowledge the obvious: the immigration-led
This week, two polls were released showing that Australians overwhelmingly want significantly lower immigration. First, Resolve Political Monitor released polling of 1,800 Aussies from across the political spectrum on October 7 and 12. The group was told Australia’s current migration policies allow 316,000 people into the country and 185,000 to permanently settle in the country
The ferrous complex is falling apart; it just doesn’t know it yet. Steel prices are collapsing. The spread to iron ore is eviscerating mill profits as inventories pile up. This is both rebar and, more importantly, HRC. It’s so bad that the need for a New Year steel restock is nearly gone. Mills are going
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Wall Street was slammed lower mainly led by financials but also small stocks as trade war tensions are keeping most risk markets contained. The USD continues to decline with Yen and Euro both pushing to new weekly highs while the Australian dollar failed to get back above the 65 cent level due to yesterday’s release
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The Market Ear wraps us up. Welcome to extreme fear The problem is we have not seen CNN’s greed/fear index hit extreme fear territory and SPX this close to ATHs (chart 2). Source: CNN Source: Macromicro Imagine regional… …goes a bit more “global”? SPX vs. KRE gap getting rather wide. Source: LSEG Workspace Huge gap
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US President Donald Trump has announced plans for a summit with his Russian counterpart Vladimir Putin in Budapest, Hungary.
The meeting will take place at a date to be determined after “high-level advisors” from the two countries meet next week, he said in a Truth Social post on Thursday.
DXY no bueno. AUD even less bueno. Gold bueno. Oil no bueno. AI metals are confused. Big miners breakout or false? EM bounceback. Junk not so much! Yields freefall. Stocks need a deeper pullback. Newsflow is whacko, courtesy of ZH. Washington shutdown. Geopolitical risk Weak Macro Hawkish FedSpeak Waller sounded less dovish than normal: “You
US President Donald Trump said on Wednesday that he had authorized the CIA to conduct covert operations in Venezuela.
Climate change and human activity are causing the health of the world’s oceans to decline at an alarming rate, the UN has warned.
Australians have endured the biggest decline in real wages in history. As of the June quarter of 2025, Australian real wages were still tracking 6.0% below their June 2020 level, at roughly the same level as December 2011. The Reserve Bank of Australia’s (RBA) Assistant governor and chief economist Sarah Hunter warned that Australia’s sagging
