This is going to be a great short. I’m looking to get set on either side of the coming round of July Politburo meetings. The Chinese economy is far worse than anybody is talking about. It’s not growing at 5%, or at all, quite possibly. Steel production is on track to be down by its
The Market Ear with the charts. Buy the dip BTD has been very strong in 2025. As we have been outlining for weeks, this still has a lot of 2020 flavor to it. BofA LSEG Workspace Gross Grossing up… GS Short suckers Market is “sucking shorts” out of the market. This is a longer term
DXY held its ground last night. So did AUD. Lead boots are marching on. Oil had a little pop going into OPEC. Another copper bubble is here. Big miners ripped within the monster bear. EM yawn. Junk yawn. The curve flattened on bad data. Stocks only go up. ADP was our before tomorrow’s BLS and
Last night saw the release of the latest US private jobs data which shocked with only a 33K increase over an expected 100K plus, which puts tonight’s NFP print into clear perspective and shows the employment market may not be as robust as Fed Chair Powell thinks. Wall Street ignored the print and focused on
A relatively calm session here in Asia with only slight movements in currency markets as the Australian dollar had a small blip after some disappointing retail sales numbers while share markets are absorbing the passing of the “End of the Empire” bill in the US senate. Oil markets continue to steady after their recent correction
In the past week, New Zealand’s financial markets have been primarily influenced by global events, with little guidance provided by local data. Markets continue to anticipate that the Reserve Bank of New Zealand will skip a cut at the next meeting on July 9 and then cut rates again in August. The RBNZ has already
Failing US ambassador Kevin Rudd yesterday met with failing foreign affairs minister Penny Wong. Here is the happy couple responsible for a sharp deterioration in the US alliance. A nastier pair of beearches you are unlikely to meet. The failed Rudd now requires the support of the foreign minister to get his job done. Penny
When the word freedom comes to mind in our collective consciousness, it can be interpreted in a number of different ways. It can be an expression of one’s ability to share their ideas or views freely, or it can relate to one’s capability to go about one’s day unimpeded by a Draconian state. But there
In the run up to the latest Australian retail sales data analysts were expecting a sizable +0.4% month on month bounce, after April saw nominal retail sales fall by 0.1% on a seasonally adjusted basis. In reality, retail sales rose by just 0.18% in May, marking yet another weak report for the nation’s retail economy.
At the recent World Economic Forum’s (WEF) annual meeting at Tianjin, China, Chinese Premier Li Qiang pledged that China will become a “consumption powerhouse” capable of fuelling domestic and global growth. “This will make China a mega-sized consumption powerhouse, on top of being a manufacturing powerhouse,” Li said “We are on track to become a