Blogotariat

Asian share markets are mostly in a positive mood despite a wobbly Wall Street on Friday night as King Dollar continues to retreat, making a new three month low versus the Chinese Yuan while the Australian dollar puts in a new monthly high above the 65 cent level. Oil prices are trying to stabilise, with

The post Macro Afternoon appeared first on MacroBusiness.

Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.

I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.

The Official Cash Rate (OCR) forecast of ANZ economists has been revised downwards, and they no longer expect the Reserve Bank of New Zealand to lift the OCR above its current level of 5.50% at its February meeting. ANZ’s chief economist, Sharon Zollner, said that it appeared “much less likely” that the inflation rate for

The post Reserve Bank done and dusted with rate hikes appeared first on MacroBusiness.

By Gareth Aird, head of Australian economics at CBA: Key Points: The already released prices data for October suggest that inflationary pressures have cooled over the early part of Q4 23. Price measures in the NAB Business Survey, JudoBank PMIs and the MI Inflation Gauge all eased in October. The private survey data reduces the

The post Australia’s inflation pulse is easing appeared first on MacroBusiness.

Why did Xi Jinping spend the weekend crawling to Washington? Panic and lies!   But nobody out-grovels the groveller: Anthony Albanese faces a new political fight over his management of the China relationship and demands to explain whether he expressed disapproval directly to Xi Jinping at APEC after a ­Chinese warship injured Australian navy divers

The post Nobody out-grovels Albo the groveller appeared first on MacroBusiness.

Some nice little sound bites from ALP insiders on the weekend: One long-time Labor figure questioned the PMs judgement in allowing the perception of detachment to fester. “I no longer recognise the bloke who had his arse hanging out of his pants and who was always in touch with the punters.” …“There are two views

The post One-term Albo comes into view appeared first on MacroBusiness.

There are five elections scheduled for 2024 that I’m planning to write guides for, and today I’m ready to unveil the third one of them.

The ACT election will be held on October 18, just one week before Queensland.

The Assembly’s electorates have been redrawn, and I needed to wait for the redistribution to conclude prior to writing my guide. I analysed the draft boundaries here, and the final redistribution made no further changes.

The SMH reported in September that “Sydney’s running out of water” and that “the problem will get worse as climate change triggers more intense and frequent extreme weather, and our population booms”. “The problem is that to fill its dams, Sydney relies heavily on rainwater, which is then used for drinking water. But as these

The post Brace for a future of permanent water shortages appeared first on MacroBusiness.

House prices to hell: Housing sales to hell: Deficit holding but it’s not infrastructure growth: Steel market caput: Rebar to hell: Iron ore and steel prices to heaven! Lesson: apparent market balance is MUCH more critical than underlying balance in the short term. Xi has a new idea: Details of the social housing push are

The post Chinese property hellbound appeared first on MacroBusiness.

A much lower USD is supporting risk markets with Friday night seeing another surge across European shares while Wall Street eked out a small gain. The Australian dollar almost matched its previous monthly high at the 65 cent level as Euro broke out above the 1.09 handle. US bond markets saw short term yields lifting

The post Macro Morning appeared first on MacroBusiness.

Americans are looking for “something new” in the White House and are understandably worried about a 2024 presidential rematch between Donald Trump and Joe Biden due to the candidates’ advanced ages, former California governor Arnold Schwarzenegger has said.

In an interview with Politico, the Terminator movie-star said that, given the complexity of the problems the US is facing, the country needs “someone that has energy.”