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Articles from MacroBusiness

Time Albo’s cowards visit Taiwan

August 18, 2022 - 11:00 -- Admin

The US is pushing forward on multiple fronts: The US and Taiwan have started formal negotiations on a bilateral trade initiative, a move likely to inflame already high tensions with China. The first round of trade talks is set to take place “early this fall,” the Office of the US Trade Representative said in a

Daily iron ore price update (puke)

August 18, 2022 - 10:00 -- Admin

The ferrous complex puked on August 17, 2022: Chinese iron ore port inventory climbed again last week: The reasons being cited for the price falls are balderdash: Nearly 20 steel mills in China’s southwest regions had suspended operations as of Wednesday, according to steel industry data provider SMM. The power rationing is expected to continue

China fooked

August 18, 2022 - 09:40 -- Admin

Goldman does  China is fooked in the nicest possible way. It ain’t short-term and it ain’t getting better. CNY is going to fall. A clear picture of weak domestic demand: Combined with muted inflation and weak credit growth, July activity data confirmed the lack of domestic demand. With a few exceptions, most indicators showed sequential

Macro Morning

August 18, 2022 - 09:30 -- Admin

Risk sentiment stumbled overnight with strong UK inflation numbers offset by the release of the latest FOMC minutes later in the session but it still resulted in falls on both sides of the Atlantic with the USD rising against the major currencies again. Euro escaped any further selling while the Australian dollar slumped well below

Albo & RBA annihilate households

August 18, 2022 - 09:00 -- Admin

In my ten years of observing the hideous Australian macro sausage factory in action on this blog, I have never seen a more stupid and harmful series of policy blunders than what we have today on both the monetary and fiscal sides of the equation. The two are gutting Australian living standards when they should

Australia’s housing ATM runs dry

August 18, 2022 - 00:10 -- Admin

ANZ Bank has released a revised outlook for the residential property market, forecasting that house prices in the nation’s capital cities will fall by 8% by the end of 2022 and by 18% between now and the end of 2023. Felicity Emmett from the ANZ Bank says the prospect of further interest rates hikes in

Labor blames “supply” for housing crisis, then drops record immigration

August 18, 2022 - 00:05 -- Admin

The federal Minister Housing and Homelessness gave an interview yesterday on the Today Show (video below) where she blamed Australia’s housing crisis on a lack of supply: “Ultimately [the housing crisis] is an issue of supply, and we need to get more homes on the ground as quickly as we can. And that’s what we’re