THE BLOT REPORT
Tuesday, June 10, 2025 - 22:33
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We bought an electric car; not a swasticar, but a Hyundai Kona. We have had it for three months and up until today had only driven it about 1500 km. On Friday we drove to Sydney to see family, and never having driven more than about 20 km in one hit, a drive of some 350 kms was taken on with some nervousness. This was not due to what has been termed ‘range anxiety’ as we knew there were charging stations along the way, one group of which was at Pheasants Nest, where we used to stop for lunch and a coffee when travelling with the eleven-year-old Mazda we used to own. |
Renew Economy
Tuesday, June 10, 2025 - 20:26
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MacroBusiness
Tuesday, June 10, 2025 - 16:35
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Asian share markets are having a mixed session across the region given the poor lead from Wall Street overnight with no news about trade deals between the US and China (or Japan, or anywhere else – too much going on in LA? ) Currency markets are pushing back against recent USD strength as most undollars The post Macro Afternoon appeared first on MacroBusiness. |
Renew Economy
Tuesday, June 10, 2025 - 15:22
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Renew Economy
Tuesday, June 10, 2025 - 15:05
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Renew Economy
Tuesday, June 10, 2025 - 14:25
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Renew Economy
Tuesday, June 10, 2025 - 14:12
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Renew Economy
Tuesday, June 10, 2025 - 14:07
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MacroBusiness
Tuesday, June 10, 2025 - 13:30
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Victoria’s budget finances are in disarray, with the state carrying the nation’s highest debt and lowest credit rating. According to the latest state budget, Victoria’s net debt will rise to $194 billion by 2028-29, from $155.5 billion currently. Victorian net debt per capita is the highest in the nation. In 2023-24, Victoria’s per capita net The post Victorian government taxes economy into oblivion appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 13:00
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Peter Hartcher is freaking out. SMH. Trump gave himself the scope to deploy the militia and/or the military “where protests against these [federal] functions are occurring or are likely to occur”. Likely to occur? He once claimed to be a very stable genius, but now, apparently, he is also clairvoyant. In addition, says his order, The post Rodney King 2.0 or a US coup? appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 13:00
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The machines are running out of volatility to bid. The Market Ear. Biggest volatility crash in history* “The 63% decline in the VIX over the last 9 weeks is the biggest volatility crash in history.” (Bilello) The spring 2020 post-COVID crash was the largest one prior to this (at 58%).*note that we are talking about a The post Stocks re-enter the old world order appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 12:30
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Chinese deflation marches on. In May 2025 , the national consumer price index fell by 0.1% year-on-year . Among them, urban prices remained unchanged, and rural prices fell by 0.4 % ; food prices fell by 0.4%, and non-food prices remained unchanged; consumer goods prices fell by 0.5% , and service prices rose by 0.5% . — On average in May , the national consumer price index fell by 0.1% compared with the |
MacroBusiness
Tuesday, June 10, 2025 - 12:00
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The ferrous complex is nothing flash, that’s for sure. But tariffs are yet to show much in its steel exports. These are absorbing an extra 100mt of iron ore from the COVID lows. Iron ore imports are lacklustre but not collapsing. I expect more downside ahead as construction continues to shrink, but unless Beijing acts The post China spews steel everywhere appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 11:30
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The Australia-United States Free Trade Agreement (AUSFTA), which came into force in 2005, was a terrible deal for Australia that benefited the US at our expense. The Crawford School of Public Policy at the Australian National University (ANU) investigated AUSFTA and found that, a decade after its signing, the deal had diverted more trade than The post Australia must not cede to Trump on trade appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 11:00
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Melbourne’s population was about 3.5 million people at the turn of the century. It took 165 years for Melbourne to grow to this size in the year 2000. Fast forward to 2025, and Melbourne’s population is nearing 5.5 million. That’s almost a 2 million population increase in less than a quarter of a century. Liveability The post The deliberate destruction of Melbourne appeared first on MacroBusiness. |
Renew Economy
Tuesday, June 10, 2025 - 10:37
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MacroBusiness
Tuesday, June 10, 2025 - 10:30
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Falling living standards is what he promised, and he’s not going to spend his political capital on anything else! AFR. Anthony Albanese is hosing down expectations his government is about to embark on a bold new agenda just because it has a commanding majority, saying it must first deliver on what it has already promised The post Albo to deliver his promise of falling living standards appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 10:00
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Last week’s Q1 national accounts release from the Australian Bureau of Statistics (ABS) showed that real per capita GDP fell by 0.2%. This represented the ninth decline in per capita GDP in eleven quarters. The following chart plots the current decline in real per capita GDP against prior episodes dating back to the beginning of The post Australians are being boiled slowly in recession appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 09:30
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DXY can’t get off its knees. It’s not an AUD rocket so much as a tractor slogging it uphill. The big short is excellent support. Lead boots OK too. Machines are into oil. Metals no bueno. Fugly miners. EM thinks it can. Junk funk. Yields sticky. Stocks only go up. Nothing much has changed. The The post Australian dollar tractor at new highs appeared first on MacroBusiness. |
Cheeseburger Gothic
Tuesday, June 10, 2025 - 09:02
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I'm in the middle of a five-week treatment for some kind of skin cancer on my chest. It's a topical cream. I have to rub it in twice a day and it burns away a couple of layers of skin over the course of the month taking with it whatever cancerous little nasties were hiding within the epidermis. I've gone through this treatment once before, but that was a couple of years ago and my vague memories of how unpleasant it was had become vague enough for me to let the dermatologist talk me into another go-around. Never again. Next time I'll just be taking the blade, thanks very much. |
MacroBusiness
Tuesday, June 10, 2025 - 09:00
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The first session following the release of the latest monthly US jobs print is usually benign and that’s what we had across most risk markets overnight as speculation about what the Federal Reserve will do until the next NFP print calmed down, sending the USD slightly lower against the majors. Uncertainty over trade deals kept The post Macro Morning appeared first on MacroBusiness. |
MacroBusiness
Tuesday, June 10, 2025 - 08:30
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Gerard Minack destroys Australia’s sick economy. Australia remains stuck in a macro rut. Low investment and fast population growth prevent capital deepening and productivity growth. The result is stagnant real incomes and falling per capita GDP. This malaise is also reflected in anaemic corporate earnings, but not in the equity market’s premium valuation. The RBA |
MacroBusiness
Tuesday, June 10, 2025 - 00:05
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According to the OECD, Australia has the smallest manufacturing sector relative to its economy in the developed world. As a result, Australia is also the least self-sufficient economy in the developed world. The latest Harvard Atlas of Economic Complexity, which measures the diversity and knowledge intensity of a country’s export mix, ranked Australia 102nd out of The post Australia is a manufacturing wasteland appeared first on MacroBusiness. |
MacroBusiness
Monday, June 9, 2025 - 16:30
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Asian share markets are having a buoyant session across the region on the back of the “just okay” US jobs report from Friday night and some further indication that the Federal Reserve is likely to keep easing while the ECB and BOE look set to finish or have already done so. This has also given The post Macro Afternoon appeared first on MacroBusiness. |
Renew Economy
Monday, June 9, 2025 - 11:27
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MacroBusiness
Monday, June 9, 2025 - 10:00
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All one really needs to be seen to be smart is Australia’s is to be loudest. That is the repuation at RBA press conferences of Warren Hogan, bullhawk and bullhorn. He has been Australia’s loudest and most persistent bullhawk. Until now. …at the heart of our productivity problem is a collapse in the efficiency of The post The great bullhawk crash lands on emergency rate cuts appeared first on MacroBusiness. |
xkcd.com
Monday, June 9, 2025 - 10:00
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MacroBusiness
Monday, June 9, 2025 - 09:30
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The waste of space formerly known as the media had a good laugh at your expense over the weekend, that you can still afford or want to pay $7 for a coffee. SMH. Coffee roasters and baristas are the unsung heroes of Sydney hospitality. It takes a special person – part scientist, part artist, and The post Heroes of $7 coffee appeared first on MacroBusiness. |
MacroBusiness
Monday, June 9, 2025 - 09:00
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Friday night saw the release of the latest US jobs print – the non-farm payrolls or NFP for May – which came in on expectations although revisions and internal numbers show building weakness from the start of the year. Wall Street didn’t care and bid across the board mainly due to relief that it wasn’t The post Macro Morning appeared first on MacroBusiness. |
MacroBusiness
Monday, June 9, 2025 - 08:00
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The Abanese government this week looked set to make some sensible policy compromises before performing a 180-degree turn and fumbling the ball. Gas Policy: The Rudd/Gillard Labor government in the early 2010s made the fateful decision to approve LNG exports out of Gladstone, QLD, without requiring gas producers to supply the domestic market first. This The post Australians suffer policy whiplash appeared first on MacroBusiness. |