Blogotariat

Steel prices are in an outright rout. This is the opposite of what the Beijing parade should produce. Yet everybody wants town iron ore with Simndou two months hence? This is fruitcake time. Chinese steel margins are collapsing as inventories pile up. There is only one outcome here. Production must fall, and all ferrous inventories

The post Iron ore turns into fruitcake appeared first on MacroBusiness.

The left-leaning media have come out in force against the notion that Australia’s immigration intake remains too high. The SMH/Age posted a weak sauce ‘fact check’ on claims that Australia has experienced “unprecedented immigration” and “Big Australia by stealth”. The authors Natassia Chrysanthos and Shane Wright claim that the recent migration surge is merely ‘catch-up’

The post Migration lies, damn lies, and statistics appeared first on MacroBusiness.

Rewiring Australia's John Buchelin outlines what’s working, and what’s not, in the country's most ambitious community electrification pilot.

Overnight saw risk taking a dive as Wall Street returned and was volatile over a secret Google ruling that ended upsetting other tech stocks while the latest US manufacturing PMI print came in slightly better than expected, giving USD another drive higher. Like other undollars, the Australian dollar gave up its recent gains to head

The post Macro Morning appeared first on MacroBusiness.

The Albanese government has ignored the weekend’s protests and maintained Australia’s permanent migrant intake at the historically high level of 185,000. “It follows consultation with the states and territories, which recommended maintaining the size and composition of the Program, with a focus on skilled migration”, Immigration and Home Affairs Minister Tony Burke said via media

The post Labor keeps throttle on immigration appeared first on MacroBusiness.

DXY is up again. AUD is down again. CNY has popped. Gold is screaming at Trump to back off the Fed. Metals too. Mining bear still intact. EM no bueno. Junk hard reversal. The long bond is still selling. Stocks no likee. The ISM had a distinctly stagflationary feel. The Manufacturing PMI® registered 48.7 percent

The post Australian dollar mown down by bond vigilantes appeared first on MacroBusiness.

Leaked documents reveal how a shadowy BBC unit is “embedding” staff in foreign media outlets to “contest the information space” and generate “behaviour change” in favor of London’s geopolitical objectives.

Plans for an undersea power cable between Tasmania and mainland Australia reach financial close after a record multi-billion dollar commitment from the CEFC.

Asian share markets are seeing mixed results as traders await the return of US markets from their long weekend with the latest news about a US/Japan trade deal sending Yen lower without any real action. The chance of more rate cuts from both the BOJ and ECB firmed with the ratings agencies today but that

The post Macro Afternoon appeared first on MacroBusiness.

There are many Americans who have noticed Trump’s swollen ankles, the large bruises on his hands, and his increasingly incoherent speech, and speculate that he is in rapid terminal decline, and will soon die. The White House itself has announced that Trump is suffering from chronic venous insufficiency1.

Ingeteam has commissioned its largest U.S. inverter project at the 640 MWdc Parliament Solar plant in Texas, which will supply clean power to 140,000 homes each year.