The doom loop continues for Evergrande: Two more companies said China Evergrande Group failed to pay its bills on time, adding to signs of a cash crunch at the world’s most indebted developer. Huaibei Mining Holdings Co Ltd. filed a lawsuit against Evergrande in Anhui province, alleging a unit of the company missed payments, according
The post More Evergrande stress emerges appeared first on MacroBusiness.
Recently, Domain claimed that the price differential between house and apartments had hit 66%, which is the widest gap on record. This has been confirmed by CoreLogic, which has released a report showing “a 30.5% gap between median house and unit prices, which is the highest on record”. The next chart shows the picture at
The post Houses hit record value lead over apartments appeared first on MacroBusiness.
Forex has interesting again as the US dollar is suddenly weak throwing up a range of consequences. EUR took off: Australian dollar rose but much less than DXY fell and it kept falling against the crosses: Commodities rose: Big miners are powering into the building iron ore correction: The China stick save lifted EM stocks:
The post Australian dollar struggles higher as US growth fades appeared first on MacroBusiness.
The ferrous complex was weak on July 29, 2021 as spot fell sharply and paper more. Steel has not updated: In my view, the correction has begun. These are unseasonal price falls and the headwinds are mounting fast. There are three reasons. The first is regulatory, via Bloomie: The export tariff on ferrochrome — used
The post Daily iron ore price update (the correction has begun) appeared first on MacroBusiness.
Key GDP and unemployment data in the US overnight put paid to the idea that the Fed may still be hesitant to normalise interest rates with the USD falling back against all the majors while Wall Street remained elevated. Commodities all rose in response to the weak USD with gold surging strongly above the key
The post Macro Morning appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
The UK’s COVID infection rate continues to fall. Despite easing all remaining coronavirus restrictions on 19 July, the nation’s daily Covid cases have fallen week-on-week for seven days straight. The UK Department of Health yesterday posted 27,734 infections, down 37% on the prior week’s figure of 44,104. Infections are now falling across all age groups,
The post Want to end lockdowns? Get vaccinated appeared first on MacroBusiness.
In the week ended 29 July, the CoreLogic daily dwelling values index increased another 0.31% – the equal smallest weekly increase since early February: All major markets except Perth recorded rising values: So far in July, dwelling values have risen by 1.48%, led by Sydney and Brisbane: Quarterly price growth remains turbo-charged at 6.19% across
The post CoreLogic weekly house price update: Perth down again appeared first on MacroBusiness.
Global Macro / Markets / Investing: Fed Launches Standing Repo Facility to Boost Market Liquidity – WSJ How feasible is a negative income tax – In These Times The I.M.F. warns of a lopsided economic recovery but retains its 6 percent global growth forecast. – NY Times The People Who’d Rather Quit Than Give Up
The post Links 30 July 2021 appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
AUD/USD EUR/USD GBP/USD USD/JPY GOLD US OIL BITCOIN
The post Macro Afternoon 29 July 2021 appeared first on MacroBusiness.
[[ This is a content summary only. Visit my website for full links, other content, and more! ]]
According to Bernard Salt, Millennials are behind the surging demand for suburban properties: “The housing market – and the shape of our cities – is shifting from medium- and high-density apartments in the inner city to low-density living on the edges of our capital cities”. “Net overseas migration to Australia stopped in March 2020… This
The post Millennials drive suburban property boom appeared first on MacroBusiness.