Global Macro / Markets / Investing:
- Is This a Market Correction or a Crisis? – Nasdaq
- Corporations Use Inflation As Excuse to Boost Prices, Profits – Business Insider
- Dow drops more than 1,000 points, retailers’ profits crushed by inflation – NY Post
- New York agency files discrimination complaint against Amazon – PBS
- A ‘summer of pain’? The Nasdaq Composite could plunge 75% from peak, S&P 500 skid 45% from its top, warns Guggenheim’s Scott Minerd – Market Watch
- Twitter loses three more senior employees ahead of Musk deal – CNBC
- Is the Typical CEO Really Worth $15 Million? Of course not. But that’s what they make as they profit from the inflation that’s hurting the middle class. – New Republic
- SEC’s Gensler warns Americans are diverting savings to ‘speculative crypto assets,’ says market needs investor protection – Market Watch
- Stocks slump again. This time, it’s retailers such as Target spooking investors – NPR
Americas:
- U.S. Gun Production Triples Since 2000, Fueled by Handgun Purchases – NY Times
- Most Texans support legalizing pot, but Texas Gov. Greg Abbott says no – Dallas News
- Wells Fargo CEO Warns ‘No Question’ Worst Is yet to Come for Americans – Epoch Times
- U.S. sues to compel casino mogul Steve Wynn to register as agent of China – Washington Post
- U.S. Economy Is Headed for a Downturn, Wells Fargo CEO Says – WSJ
- US Interest Rate Could be Hiked to 9.25% if Soft Landing Not Possible: SocGen – Tokenist
- Powell says the Fed will not hesitate to keep raising rates until inflation comes down – demand destruction incoming – CNBC
Europe:
- UK inflation soars to 9%, the highest level in more than 40 years – Yahoo
- “UK Inflation hits 40-year high of 9% as energy bill soar” – BBC
- Germany to vote against EU plan to label nuclear power as ‘green’ – Euro News
- Dutch join the club offering military protection to Sweden and Finland – Euractiv
- New cases of smallpox-like virus reported in young men in Portugal and Spain after being detected in the UK – Euro News
- Finland and Sweden to buy firearms, anti-tank weapons together – Reuters
- Russia takes first steps to withdraw from WTO, WHO – Politico
Asia:
- North Korea tells citizens to gargle salt water and drink willow leaf tea to fight Covid – Yahoo
- Sri Lanka Down to Last Day of Petrol, New Prime Minister Says – BBC
- North Korea reports another fever surge amid COVID-19 crisis – AP News
- “We’re the Last Generation” Becomes a Slogan For China’s Disenchanted – China Digital Times
- Taiwan reacts to California Church shooting, with some calling it a ‘political attack’ – SupChina
- UK to scrap US$16 million in foreign aid to China – Yahoo
- China faces zero-Covid lockdown brain drain with visa inquiry spike – SCMP
Trans-Tasman:
- ‘Devastating’: Households suffer biggest real wages cut since 2001 – New Daily
- Morrison Criticises Public Servants – The Mandarin
- Scale of aged care Covid deaths laid bare as staff prepare to strike – The Guardian
- If the major parties really wanted to house the nation, they’d start building – The SMH
- Did Boomers or Millennials have it harder buying a house? We try to answer this age-old question – ABC
- Telcos frustrated the Coalition is using private-sector millions to promote infrastructure projects – ABC
- Desperate tenants are turning to crowdfunding to pay for housing amid Australia’s rental crisis – The Guardian
- We reserve homes for over 55s. Why don’t we have villages for first home buyers? – The SMH
- Labor to consider new national Covid strategy to reduce deaths – The Guardian
- ‘Taken for granted’: western Sydney’s Muslim community rethinks a fractured Labor relationship – The Guardian
- Budget 2022: When politics and inflation collide – Interest.co.nz
- Budget makes it easier for first home buyers to access First Home Grant or First Home Loan schemes – Interest.co.nz
- Rising mortgage interest rates wiping out the benefits of falling prices for first home buyers – 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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