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MacroBusiness Thursday, June 17, 2021 - 10:45 Source

As we know, I triggered about a $30 rally in iron ore prices in the past week when I reminded the market that Vale was facing another possible dam bust and crisis (or it was thew wind). The news today is that that crisis ie easing swiftly: Brazilian regulators have inspected the Xingdu damn and

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MacroBusiness Thursday, June 17, 2021 - 10:30 Source

The last time I wrote on FriendlyJordies was to give him a whipping for getting into bed with Labor and Kevin Rudd. This serves only to dim his political flame-thrower. But the recent material produced on NSW political corruption has been superb. There are three points to make on this. First, watch it and see

The post FriendlyJordies napalms Berejiklian’s fascists appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 10:20 Source

Below find the latest installment from an uber-dovish Phi Lowe. The AUD rose a few pips though god only knows why. This is as dovish as he could possibly get: no inflation, no wage growth, recovery incomplete, no macroprudential (which will come first). Nothing hawkish. And he sure isn’t going to tighten when so much

The post Phil Lowe remains uber-dovish appeared first on MacroBusiness.

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THE BLOT REPORT Thursday, June 17, 2021 - 10:12 Source

Just about everyone knows who Anne Frank was, because of the post-war publication of her diary by the surviving members of her family.

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MacroBusiness Thursday, June 17, 2021 - 10:00 Source

Indeed economist Callam Pickering has updated his Australian job postings series, which tracks the level of job postings since the beginning of the pandemic. According to Pickering, Australian job postings are tracking were tracking 45.5% higher than their pre-pandemic level as at 11 June; although the level of postings has stabilised: Despite Victoria’s latest hard

The post Job postings strong ahead of ABS employment release appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 09:30 Source

The ferrous complex was weak on June 16, 2021 as spot, paper and steel all fell: There was a pretty nasty combination of factors. First this: The State-owned Assets Supervision and Administration Commission has ordered state-owned enterprises to control risks and limit their exposure to overseas commodities markets, according to people with knowledge of the

The post Daily iron ore price update (rainbow butt) appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 09:00 Source

China has released its May data and the news is boom! Not. The data is so distorted by COVD base effects that it’s still very difficult to read. Simple year-on-year and year-to-date comparisons looks outrageously good. Year-to-date growth to the end of May is 17.8% for industrial production, 25.7% for fixed asset investment and 15.4%

The post China booms. Not appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 08:30 Source

A seismic shift in risk markets overnight with the US Federal Reserve moving its so-called dot plot into the affirmative for more rate hikes, sooner than expected. This spooked Wall Street and saw the USD soar against all the major currencies, plus wiping out gold prices.  Bond markets saw a big increase overall in yields

The post Macro Morning appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 06:59 Source

Policy error time. The Fed has blinked and the Australian dollar just broke. Don’t cheer too loudly. My risk case for a decent market correction just firmed up. DXY blasted higher: Australian dollar was pulverised and the giant head and shoulders top is back in play: Gold was poleaxed. Oil held up but all commodities

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Your Democracy Thursday, June 17, 2021 - 05:28 Source

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Geneva Summit Live Updates: Putin, Biden Sign Declaration to Ensure Nuclear War is Never Unleashed

 

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Renew Economy Thursday, June 17, 2021 - 00:50 Source

AEMO's Daniel Westerman says there is a "paradigm shift" i

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MacroBusiness Thursday, June 17, 2021 - 00:15 Source

For months we have witnessed Australia’s employer groups lobby the federal government for easier access to foreign workers due to purported crippling labour shortages. However, when it comes to actually paying more to attract Australian workers into their respective industries, they are firmly opposed. In the lead-up to yesterday afternoon’s minimum wage decision by the

The post Contradictory employers cry foul at 2.5% minimum wage increase appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 00:10 Source

The Australian property market continues to rebound hard out of the COVID-19 pandemic. Following a 2.6% decline in dwelling values across the five major capital city markets between 15 March (the unofficial start of the pandemic) and 13 October 2020 (the bottom), values have since risen by 13.1% across the combined five major capital city

The post Aussie property values up 10% since start of pandemic appeared first on MacroBusiness.

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MacroBusiness Thursday, June 17, 2021 - 00:01 Source

Global Macro / Markets / Investing: The Fed Cannot Control Its Easy-Money Monster – NY Times World’s Bubbliest Housing Markets Flash 2008 Style Warnings – Bloomberg Stability of collusion and quality differentiation: a Nash bargaining approach – Bruegel Nobel Prize winning economist Muhammad Yunus says 2050 may be too late to save planet. – Yahoo

The post Links 17 June 2021 appeared first on MacroBusiness.

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