Global Macro / Markets / Investing:
- Moderna Stock Crash Intensifies: Losses Top $130 Billion After Scientists Find Covid Boosters Aren’t Halting Omicron Infections – Forbes
- In 2021, wholesale prices climb by about 10%, indicating that inflation is on the rise – Daily Stock Market News
- Get ready for the four-day working week – FT
- Big Tech Is About to Make Our Terrible Health Care System Even Worse – Jacobinmag
- Bitcoin’s Business Economy Is Crumbling With The Currency Currently Trading At $37,500 – Coin Buzz Feed
- Billionaires made $5 trillion in the past year—and their wealth is growing at an ‘unprecedented’ rate – CNBC
- Stock market could drop another 10% soon: top strategist – Yahoo
- Amazon stock just had its worst week since 2018 – CNBC
- Cryptocurrencies lose $205 billion in 24 hours – Fortune
Americas:
- One of the largest trucking companies in the US is giving raises of up to 33%, allowing drivers to make up to $150,000 in their first year, amid worker shortage – Business Insider
- Bank of America’s CEO gets real about the labor shortage: ‘We don’t have enough people now’ and those who quit aren’t coming back – Fortune
- U.S. Food Supply Is Under Pressure, From Plants to Store Shelves – WSJ
- Marijuana excise taxes outpace alcohol in Massachusetts – Tricity News
- Less than 35% of the $800 billion in PPP loans actually went to workers, say economists – Fast Company
- To Bargain With Their Landlords, Renters Form Tenant Unions – WSJ
- Former residents reveal ‘why we left California for good’ – NY Post
- ‘That raise meant nothing’: Inflation is wiping out pay increases for most Americans – Washington Post
- President Biden’s Economy Is Failing the Big Mac Test – NY Times
Europe:
- Russia’s Central Bank: Ban crypto issuance, trading, investment and mining! – Wall Street Crypto
- Inflation at highest level in United Kingdom – Economist
- Russia Central Bank Eyes Cryptocurrency Prohibition – Planet Russia
- U.K. Headed for Best Growth in G-7 This Year and Next, OECD Says – Bloomberg
- Austria’s chief diplomat wants to exclude gas from Russia sanctions – MSN
- Bulgarian finance minister ‘pretty confident’ of adopting euro in 2024 – eKathimerini
Asia:
- China’s wealth inequality has worsened in pandemic – SCMP
- China’s Economic Downturn Gives Rise to a Winter of Discontent – WSJ
- China cuts key rates, steps up monetary stimulus to boost economy – Reuters
- S.Korea reports second-highest COVID count ahead of holiday – Reuters
- China’s Beijing orders more COVID tests as cases mount before Olympics – Reuters
- Asia’s emissions-reduction plan for the world – Jakarta Post
- Hong Kong warns of worsening COVID outbreak as leader defends hamster cull – Reuters
Trans-Tasman:
- Joyce apologises for saying ‘people aren’t dying’ from Covid – The Guardian
- Defamation experts reject Morrison government’s ‘anti-troll’ proposal – The SMH
- Border Force stops you for a search and wants your phone — what can you do? – ABC
- PM’s social media account hacked and rebranded to ‘Australian Chinese new life’ – 7 News
- Federal election 2022: Young Australians win from tax cuts as both parties target their votes – The SMH
- Employers, governments should have seen COVID-19 meat supply crisis coming, and done something – ABC
- With the global supply chain on its knees amid ongoing COVID outbreaks, the world is running low on some unexpected items – ABC
- Nauru offshore regime to cost Australian taxpayers nearly $220m over next six months – The Guardian
- Tennis Australia says Peng Shuai’s safety its ‘primary concern’ despite banning t-shirts supporting Chinese player – The Guardian
- Reserve Bank likely to confront an inflation problem and rate rise dilemma in 2022 – ABC
- Omicron can’t be ‘eliminated’ in WA, government concedes, as case numbers jump and COVID breach occurs at major hospital – ABC
- Rising interest rates mean lower house prices may not bring much relief to hopeful first home buyers – Interest.co.nz
- Omicron has come – Interest.co.nz
- NZ moving to ‘Red’ at midnight to respond to Omicron outbreak – Interest.co.nz
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also Chief Economist and 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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