Global Macro / Markets / Investing:
- Fed Chairman Jerome Powell warns Congress that inflation may keep rising next year – CBS
- Coronavirus pandemic could cost global tourism $2 trillion this year – UN News
- Fattest Profits Since 1950 Debunk Wage-Inflation Story of CEOs – Bloomberg
- Dow skids nearly 600 points and stock market’s losses deepen as Fed’s Powell says faster taper may be warranted amid omicron – MarketWatch
- Musk highlights ‘supply chain nightmare’ in tweet – Reuters
- Welfare programs and black markets – Economist Writing Every Day
- Will The EV Revolution Trigger Global Economic Crisis? – CleanTechnica
Americas:
- Cyber Monday online sales drop 1.4% from last year to $10.7 billion, falling for the first time ever – CNBC
- US Home price gains slow down for the first time since May 2020 – CNBC
- U.S. gasoline prices could fall below $3 if oil market sustains losses. Why is $5 the new normal?!… – Yahoo
- The End of Trust – Suspicion is undermining the American economy. – The Atlantic
- The Delta variant hit the US economy hard. Will Omicron pack a similar punch? – Boston Globe
- Shoppers are buying from resale retailers more than ever. Here’s why – CNBC
Europe:
- Turkish economy grows by 7.4% in Q3 on robust demand, exports – Daily Sabah
- Eurozone inflation hits a record high of 4.9 percent – New York Times
- COVID has devastated cancer care in Europe, new data reveals -Euro News
- France welcomes Germany’s new ‘pro-European’ coalition agreement – Euractiv
- Goods shipped directly from Ireland to EU up by 50% in six months – The Guardian
- Construction work begins in Germany on road and rail tunnel to Denmark – Euro News
- Lukashenka uses EU funds to sponsor propaganda – Business Insider
Asia:
- Chinese ignore government restrictions and are using crypto to send money to Japan – Digest Time
- Weak Consumer Spending Hampers India’s Economic Recovery GDP grew 8.4% – WSJ
- China Growth Stocks Look Like Havens as Markets Confront Omicron – Bloomberg
- China’s population is shrinking, fast. This year, birth rate is expected to be the same as death rate. Starting next year, China’s population will officially shrink. – FT
- Leaked Papers Link Top Chinese Leaders to Uyghur Crackdown – BBC
- China makes billion-dose coronavirus vaccine pledge to Africa – SCMP
- Taiwan Scrambles to See Off Chinese Air Force as Xi Meets Top Brass – Reuters
Trans-Tasman:
- Labor, One Nation and Rex Patrick unite to decry Coalition’s refusal to release national cabinet documents – The Guardian
- PM denies delay to integrity commission – New Daily
- Elimination ‘entirely achievable’: Australia records lowest number of HIV cases since 1984 – The Guardian
- States running Australia’s renewables race alone, say reports, as feds put up hurdles – Renew Economy
- ‘Multiple’ people escape from Howard Springs COVID-19 quarantine facility near Darwin – ABC
- Coalition senators accused of making ‘dog noises’ at Jacqui Lambie – New Daily
- The Morrison government is decaying before our eyes – New Daily
- Cut speed caps on e-bikes in Sydney, says productivity report – The SMH
- Hung parliament a ‘real possibility’ as South Australian election shapes up to be a COVID corker – ABC
- Big jump in the number of homes being listed for sale, giving buyers more choice this summer – Interest.co.nz
- What’s in store for housing, interest rates and the Kiwi dollar in 2022? – Interest,.co.nz
- Average value of Auckland homes up $286,890 in the last 12 months – Interest.co.nz
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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