This is what the Trump administration just passed in its Big, Beautiful Bill. Tax Reforms Permanent Extension of 2017 Tax Cuts: The bill makes the 2017 tax cuts permanent, maintaining lower tax rates and brackets, and doubling the standard deduction and child tax credit . New Tax Deductions: Introduces deductions for tips, overtime pay, and
Albo has no idea about productivity, and not much else. He’s a backroom bovver boy good at pretending he’s nice while lacking all brain cells. His latest brainfart is just another political boondoggle for phonies. The Australian. Mr Albanese will call for co-operation across the spectrum to increase productivity and allow the private sector to
In China’s meteoric rise as an industrial power, that would see it become “The World’s Factory”, it has increasingly relied on imports of raw materials, particularly from Australia. Over time, this has seen the level of Australian resources exports absolutely skyrocket. In inflation-adjusted 2024 dollars, they have risen from under $100 billion a year in
As the global economy continues to decelerate amidst a backdrop of escalating trade conflicts and war in the Middle East, interest rate futures markets are increasingly pricing in additional rate cuts from the RBA. As of the latest close of the futures market, roughly 3.9 rate cuts are priced in by the market over the
One of the reasons China grovelers are so prevalent in Australia is the argument that China is one of the few substantial countries with which we have a trade surplus. This is true. But for how long? Albo’s three year Great Grovel of China has been so successful that Aussie exports are imploding while imports
As I have noted for many years, managing money successfully in Australia is as stupid as the structure of the underlying economy. The only question before any fund manager that matters, given his/her reliance on relative returns, is whether to be overweight miners or banks. Equally, for a year or so I have been arguing
The Market Ear on extreme greed! Say hello to extreme greed We are back in extreme greed land, trading at the most “greedy” levels since Feb 2024. Source: MacroMicro Finally Bulls getting excited and bears starting to give up. Not at extreme levels, but getting closer. Source: LSEG Workspace Nets catch up Net leverage for
DXY bounced with solid US jobs. AUD did not. Lead boots plod on. Gold gets more worrying by the day. Metals reversed. The big bear is not over. EM signs of life. But yields weighing. No bueno for BBB. Stocks only go up. US jobs were solid. Total nonfarm payroll employment increased by 147,000 in
Overnight saw the passage of the Trump regime’s Big Bloody Awful Bill for the middle/working class by the Republican controlled Congress, but this was overshadowed by a surprisingly upbeat NFP print that negated the negative ADP print the session before. While the BBB will lead to the near permanent destruction of low/middle America it is
Stock markets were doing well in Asia until it seemed like a leak of tonight’s US unemployment print by Trump spitting his dummy calling for Fed Chair Powell’s resignation. This saw most equities pull back alongside S&P futures while the USD firmed against the undollars, with Yen easing off as speculation the BOJ may raise