DXY is breaking down. The unusually subdued AUD rally continues. Lead boots plodding along. Gold shaky, signalling DXY last leg down? Metals flamed out. The big bear rolls on. EM yawn. Junk leading the rally is bullish. Yields still easing. Stocks only go up. In my view, this is the last leg down for DXY,
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Last night saw the end of the financial year and maybe the ending of the USD dominance in global finance as it had the worst yearly start since 1973, despite multiple undollar central banks cutting rates as safe havens like Swiss Franc, Yen and increasingly Euro and Yuan takeover from King Dollar. Speaking of made
The post Macro Morning appeared first on MacroBusiness.
Methinks that Allan Patience is naive and over-optimistic… He gives the game away when he writes:
“He is an Australian version of America’s Pete Buttigieg”. Oh boy! Pete Buttigieg was as efficient a Transport Supremo as a dead toad can be used for a road-block. We had high hopes about Pete, but we soon discovered he could not run an outback dunny tipping plate, as customers went for the bushes.
From the outset, Moscow condemned Israel's aggression against Iran in sharp terms. The Russian Foreign Ministry’s first official statement left no ambiguity in assigning blame to Tel Aviv.
Ben was joined by Tasmanian political observer Mike Lester to look at the state of the campaign and the announcement of candidates for the Tasmanian state election. We particularly look into the Tasmanian Nationals and the shadow-boxing around who takes the blame for the calling of the election and who has the best prospect of forming a majority government.
With the end of the month, so too comes the release of the latest housing price data from Cotality (the artist formerly known as Corelogic) and PropTrack. Amidst recent rate cuts in February and May, and the expectation of significantly more to follow, both data providers noted that conditions were increasingly favourable for housing sentiment.
The post The new house price boom begins appeared first on MacroBusiness.
Israel is doing a damn fine imitation of Lt. Frank Drebin, a character played by Leslie Nielsen in the 1988 comedy film The Naked Gun: From the Files of Police Squad! In an iconic scene, Lt. Drebin stands in front of a fireworks explosion and chaos while trying to calm the crowd by saying:
The start of the new trading week is coinciding with the end of the month and for some, the financial year, which is leading to a lot of window dressing across risk markets in Asia. However Wall Street is riding the wave higher after the Canadians gave in to the public demands of the Trump
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