Blogotariat

Five years after setting a world first target of 100 per cent net renewables by 2030, South Australia's state Liberals now want to throw 2050 net zero targets out the door.

The Albanese government’s fantastical target to build 1.2 million homes over five years is centred on delivering a boom in high-rise towers. However, the April dwelling approvals data from the Australian Bureau of Statistics (ABS) showed that high-density approvals have collapsed. Overall dwelling approvals fell by 5.7% in April in seasonally adjusted terms, which followed

The post Australia’s hidden high-rise housing crash appeared first on MacroBusiness.

DXY and EUR both look like they are consolidating for more. AUD at bottom of rising channel. Brent will crash Monday after OPEC lifted output again. The child president is making everyone except the US “drill, baby, drill”. Metals no bueno. Miners yuk. EM meh. Junk all good. Yields helping. Stocks on hold. Is the

The post Is the Australian dollar still going to 50 cents? appeared first on MacroBusiness.

Yesterday’s final result in New South Wales was a bit of a surprise, with One Nation closing a primary vote margin of 0.21 quotas. Even after One Nation won another senator in Western Australia on Thursday afternoon, the gain they had made in WA wouldn’t have been another to do the same in NSW.

Antony Green previously produced a table showing how the switch from group voting tickets had meant that nearly all Senate elections resulted in the candidate leading on the primary vote ended up winning. I’ve now extended this table to show the 2025 results.

Cotality (formerly CoreLogic) has published its daily dwelling value index for 31 May, which covers Australia’s five major city housing markets. Dwelling values rose by 0.5% in May at the aggregate 5-city level, with all major markets recording solid increases: Over the May quarter, dwelling values rose by 1.2%, with Brisbane (1.6%) leading the way,

The post Australian housing poised for new price boom appeared first on MacroBusiness.

International Reading: Elon Musk wants to rollout robotaxi in Austin in two weeks – Fortune America has a billionaire problem — we need a wealth tax to fix it – The Hill The Republican budget is an attack on the American economy – Public Notice Tariffs, and Trump’s entire economic agenda, were just thrown into

The post Weekend reading and media appearances appeared first on MacroBusiness.

The TACO in Chief is again threatening more tariffs on the EU just 24 hours after a yeah-nah decision by US courts to remove then reinstate the global tariffs, which of course is translating into a lot of hesitation on risk markets. This comes just after clear signs that a US recession is underway while

The post Macro Afternoon appeared first on MacroBusiness.

I try to replicate my more substantial posts on Substack here, but forgot this from a few weeks ago. So I’m now making amends.

When it comes to Magna Carta clause 39 is the one hanging in the foyer.

This week, I was interviewed by Andrew Bolt from Sky News on the latest housing forecasts from the federal government’s advisory body, the National Housing Supply and Affordability Council (NHSAC). Edited transcript Andrew Bolt: The government’s National Housing Supply and Affordability Council (NHSAC) has put out its annual report, the State of the Housing System,

The post Australia’s housing scandal exposed appeared first on MacroBusiness.

A slight exaggeration perhaps, but certainly looser than the always wrong RBA would have you think. Via Goldman. A key uncertainty in Australia’s monetary policy outlook is whether the labour market is still operating above full employment and therefore a source of inflationary pressures. In our view, the labour market has arrived at a ‘sweet

The post Aussie jobs market loose as a goose appeared first on MacroBusiness.

AEMO has advised that it doesn’t need additional gas from the new Port Kembla import terminal until 2027, at the earliest, as approvals given for a facility in Victoria.

Via the ABS. Key statistics The April 2025 seasonally adjusted estimate: Total dwellings approved fell 5.7%, to 14,633. Private sector dwellings excluding houses fell 19.0%, to 4,999, while private sector houses rose 3.1%, to 9,349. The value of total residential building fell 1.3%, to $8.91b. The value of non-residential building rose 14.7%, to $7.91b. Oh

The post Building approvals tank appeared first on MacroBusiness.

The Market Ear on the market paralysis. Still stuck SPX futures stuck in the 5800/6000 range with a rather big rejection candle today. We are not getting excited until SPX breaks out, either way. Past few weeks is mostly just noise. Source: LSEG Workspace Twiterati illuminati Twitter Sentiment looks like crypto chart. The indicator is

The post Stuck in the middle with Trump appeared first on MacroBusiness.