See the latest Australian dollar analysis here:
Asian share markets have slumped in the response to the whalloping on Wall Street from Friday night as inflation and growth concerns are being kicked around by aggressive rate rises from the central banks. The USD remains strong against all the undollars, with gap downs across the complex and stock futures looking troublesome for the European open as well. Oil prices are drifting sideways, with Brent crude still just above the $120USD per barrel level while gold is trying hard to hold on to its unusual Friday night gains, currently just above the $1860USD per ounce level:

Mainland Chinese share markets are the best of the bunch but still selling off with the Shanghai Composite closing down 1.1% to 3248 points while the Hang Seng Index was hammered, down nearly 3.6%, closing at 21102 points. Meanwhile Japanese stock markets had a similar steep pullback, with the Nikkei 225 index losing 3% to 26987 points while the USDJPY pair is holding on to its gains to remain well above the 134 level:

Australian stocks were closed today for a public holiday and are likely to crack well below the 6900 point level on the open tomorrow while a gap down in the Australian dollar below the 70 cent level was filled this afternoon, but the Pacific Peso is looking very weak here as weekly support has evaporated:

Eurostoxx and Wall Street futures have gapped some 2% lower this morning, with barely any recovery as we head into the European open with the S&P500 four hourly futures chart showing price crushed at the 3900 point level and meeting the May lows (lower horizontal black line). It could be another bath of blood tonight:

The economic calendar starts the week with UK yearly GDP figures then some Fed speeches to keep an ear out for.
- Macro Afternoon - June 28, 2022
- Macro Morning - June 28, 2022
- Macro Afternoon - June 27, 2022
Thank you Chris! Been a while didn’t thank your great efforts 👌 👏 👍
More sudden deaths in the news..been seeing them more recently https://www.news.com.au/lifestyle/real-life/news-life/ume-burger-founder-and-chef-kerby-craig-dead-at-38/news-story/583127872f4d4e8a8f0f6f0066d12df5
We are just starting…..all sorts of weird infections and syndromes lie ahead as we try to live with Covid
https://twitter.com/fitterhappierAJ/status/1535840243345240065
Interesting, long covid?
Filthy non-vaccines!
It’s the vaccines.
Today I heard 30% got 4 jabs!!! In less 2 years
Chortle. Imagine being educated and having a long career being paid for your smarts and still being this dumb.
Wake up to yourself old man
I wonder how your comment would have been worded on that other site 🤔
MB is indeed much more genteel.
Lots of c-bombs. They are entirely appropriate when dealing with such stupidity.
Bullshido!
Yeah I got double jabbed now I’m dead. It’s rather unfortunate.
It’s the vaccine !!!!
Unless of course he ate too much of his own product…
Crypto in free fall?! I thought it has a reverse relation to intrest rates
https://www.news.com.au/finance/markets/world-markets/bitcoin-ethereum-prices-suffers-as-142-billion-wiped-in-two-days-amid-cryptocurrency-freefall/news-story/2c9d874f99c69453b47ac06b6dde68e3
https://www.smh.com.au/technology/cryptocurrencies-tumble-as-lending-platform-celsius-blocks-withdrawals-20220613-p5atc6.html
I figure this bear market on crypto will last a while longer. But I also think a snap back will come within a couple of months. I’m contemplating buying more given the over sold nature so far.
Queensland did it, Western Australia did it…seems states has to fend for themselves
Market operator intervenes to avoid Queensland blackouts https://www.theage.com.au/business/companies/deepening-energy-crisis-triggers-power-price-caps-in-queensland-20220613-p5at85.html
A fairly convincing demonstration that wholesale price caps don’t help anyone. The generators just refuse to bid at AEMO auctions and then other powers are used to force them to make the electricity anyway. I wonder if they get paid what they want or just the capped price? Whichever way, if this continues for any length of time, I imagine there’ll be a few power stations looking for new owners.
Then we’ll become like Venezuela, very rich in resources but no electricity 😕
“Company throws away phat profits because Government steps in to prevent them from earning FKN LOL profits.”
Who makes the FKN LOL profits, though? Is it the generators or the gas/coal suppliers? It’s been a long time since I had power companies as customers (and they weren’t the “vertically integrated” ones) and I just don’t know how the landscape may have changed since. Back then, the generators would have been as much the victims in this story as the retailers and end users; now, I just have NFI…
The Great Unraveling…
Didn’t China do something similar recently? I seem to recal Michael Pettit saying this can only result in rationing?
Collapse now, avoid the rush.
The solution is rolling blackouts. After a few months of it, Australia will get a gas reservation policy.
The solution is rolling blackouts to the Teal voters and green alarmists
Even the Poms are taking action
https://www.dailymail.co.uk/news/article-10910943/Britons-save-soaring-bills-ministers-plan-end-link-gas-electricity-prices.html
How’s the new job Divya??
Not started yet. Need to finish the notice period here and then have some time off before starting.
Stressful resigning too!
Well I put in some lettuce and kale seeds today into my Greensmart pots out the back (May Queen/Cos Verdi/Lollo Blondo and Nero Di Toscana). I’ll be a millionaire in a month.
I’ll do coriander/basil/parsley/chives in the Urbipod tomorrow.
And if I get time I’ll do broccoli and peas in the front pots.
It’s never that successful here as none of the pots get enough sun tho.
Have you thought about a vertical garden rig on the boat?
Actually if I had a bigger boat and I lived on board I’d probably think of something, but this one is 27 foot so space is at a premium.
Worst comes to the worst I reckon you’d get a couple of quails and 20kg of alfalfa seed for greens and protein (quails are prolific layers).
Quails have very efficient energy conversion. Yes, prolific layers and very rich eggs. Plus quail eggs are superb for the truffled eggs in a jar gig, the very thin shell (tough membrane makes up for it) seems to help the transfer. Plus quails taste so good, cheep and cheerful Vietnamese five spice to elaborate [email protected], you can’t go wrong harry.
Can the plants survive the salty air?
He’d have to restrict himself to sailing on fresh water. Kinda limiting in Australia.
Canada, maybe, but I’m not sure about an Endeavour 24’s icebreaking capabilities…
What about watermelon? It reached $80 USD
You’ll pass the smelly guy Musk in richness if you plant them!!
You know it’s bad, when APRA is no longer able to use lettuce leaves for law enforcement, they’ve had to use cabbage though even that’s on a “if absolutely needed” basis.
Genius and most underrated comment
Following the above link I shared, seems things aren’t looking good in Queensland energy https://www.news.com.au/national/queensland/lack-of-reserve-state-at-risk-of-major-blackouts-tonight/news-story/e8cc51eb19255e4597e7240de38183aa
So the energy regulator had words and now all good, just fired up some gas peakers! Are the energy companies doing an Enron?
Disrupters getting disrupted …….
https://www.news.com.au/finance/markets/australian-markets/entire-bnpl-industry-on-the-brink-of-collapse/news-story/c05c5e153a2ab0583dd5391076a6ee55
“To top that off, Covid-19 stimulus packages have ended, which provided a brief lifeline for the bad debts these companies were paying down — but no longer.”
Lol the country was running on borrowed time
Kind of like Greensill Capital…………when are people going to learn that you actually need to pay for any “service “ you engage with plus pay back the credit you were extended
…………going to the butchers for the snags on 4 equal payments long after they have turned to sh1 t is not the smartest way to run your affairs…….or the affairs of some of these great hugely valued whizz bang business models
LOLs
Getting customers who have been refused everywhere else & need a loan to buy a pizza are the first to fail. Hoocudanowd
It’s all looking a bit calamitous out there this evening.
The only thing I can think of to put a floor under the markets is if Volodymyr has a some pressure put on him to surrender.
Absent a closure of The War, that is being blamed on everything; and even thought we know it’s not that, what else is there left that is going to stabilise the global uncertainty?
It’s not like the war is actually the cause of all these ructions. Look more to WuFlu closures and supply chain disruptions with a big dollop of resource depletion for the current problems. The coming northern winter is when we’ll really start to see the war caused shortages and famines kick in.
Global uncertainty should stabilise around the time our species learns to live within our means.
Agree, some things can take years to play out & have effects for decades.
Meh reading the opposite, that russia is now making up time and ground
Yes, Russia getting on top now. Maybe if the ###### Germans actually sent some of the heavy weapons they said they would.
https://youtu.be/vzMmQocjO8Q
Well Janet, as you mention it… you and me could wait a few more days for prices to meet reality and then backstop the market with our dry powder cumulative retirement savings.
By that time, a couple of mill should cover controlling stakes in both Meta and Muskla.
PS You’re providing most of the capital for this (between visits to all those muppets who second-guessed your sell-at-the-top move of course) btw. Happy to help as I can on this one. 😉
As the bond king of this realm, can you please explain what’s going on , they are expecting the Fed to hike 0.75% also New Zealand 10 year yield reached 4% for first time in nearly 10 years.
Dose that mean a bigger hike coming in Oz
Also if the Aussie banks in NZ suffer is it Aussie or Kiwi problem?
Anyone who ever tells you that they’re sure what a CB rate rise is going to be is lying.
There are more rate rises coming, but not due to anything the RBNZ will ever do.
And rate rises in NZ just give the Aus banks that own them NZ banks doing the raising the option of making even more margin on the way up than they did on the way down.
Pacific peso under 70c now
Binance CEO says temporary pause of bitcoin withdrawals on binance due to a stuck transaction causing a backlog.
https://twitter.com/unusual_whales/status/1536326084509085696?t=JniPWkpHBNAJ0f0b8sw0Tg&s=19
ASX futures drawing over 5%
ASX 200 (AUS200) is at A$6,547.0 (-5.21%)
http://au.investing.com/indices/australia-200-futures?utm_source=investing_app&utm_medium=share_link&utm_campaign=share_instrument
‘merica joins the party
Yeah, you like it don’t you renters.
https://www.realestate.com.au/news/rental-complaints-surge-amid-sydney-mould-outbreak/
How the hell do LLs get away with this sh!t in NSW, tenant laws wouldn’t allow that in WA.
The “Born to Rule” mentality yet again, is clearly on show. They just can’t get over the fact they lost and to a bunch of people who haven’t had the resources they had. I suppose the gravy train has derailed for the party of the 1%’ers…[email protected]
https://www.abc.net.au/news/2022-06-13/monique-ryan-kooyong-teal-supporter-threatening-letters/101148526
Dunno if that handwriting is taught in ‘strayan primary schools……….
private schools with secret handshakes teach it?
Capitalism will be unrecognisable in 18 months.
I think so too.
Which Capitalism – ????
Bond bubble go bam-bam
Can you elaborate please, What’s going on there?
Inversion in US yields from 3yr on up (combined with massive DXY splurge) = not good.
Lol see above, I just posted a reply asking you 🤣 without knowing you posted here
Thank you
So it looks like the Libs are going to push ahead with Stamp Duty reform in NSW but the NSW ALP are going to oppose it. Seems it will come down to whether the new Federal Treasurer will allow some flexibility in GST allocations if NSW go through with it.
Reading a number of the comment on the SMH website and you despair that anything will ever get done in this country again.
https://www.theage.com.au/business/the-economy/it-s-really-hard-farmers-feel-squeeze-of-rising-power-bills-20220612-p5at3h.html
Expect higher milk and meat prices
Heads up – See a lot of fear from my vantage point atm.
But what is your vantage point?
Orti, mate… you can’t just drop these sort of comments without at least giving us an anecdote or two for context
OK, 10Y bond yield already causing serious behind the scenes angst in a certain mediterranean country.
Oh. Wow.
In the last minute of trade this morning (0559) the ASX-200 futures went UP 100 points on investing.com. I assumed someone forgot Aus wasn’t trading today. LOL. But apparently this just never happened:
https://investing.com/indices/australia-200-futures-chart
So someone out there has even stronger 1984 skills than even DLS could possibly imagine. Should have taken a screenshot for my MB collection.
DLS been weird recently pushing for higher house prices…you knew him longer than any of us…was he always house bull?
Not a housing bull, an anti depression bull. We all know the consequences of a collapse.
My dilemma is, what to do with super? Do I sell out of equities/ETFs and go cash mainly? Or is it too late? On the other hand, with high inflation cash is bound to become worthless…
When do you retire? 5-10 years or longer? I see no point trying to time the peak / low and rather just hold. I’ve paid in $12k+ this year, yet still down 5% compared with last years balance. But I am hardly worried. I don’t plan to retire for 30+ years anyway.
Probably 20-25 years away. Yes, I suppose best to leave it be.
But things will collapse in the mean time – my guess 20-30% lower from here, maybe more. So why chase it down? What I did in September 2021 was cash 100%, so super falls a lot less (relative to inflation). Expect to maybe get back in when the dust settles. 1-2 years from now, I’ll see. Then ride it up again.
*If CB’s open spigots again, I’m also back in.
+1
What we’ll see after the depression and wars over the next few years, is a generational shift away from profligacy toward an asceticism feeding from and into an asset price collapse and food inflation. Everyone will know someone who has gone bankrupt on property. And they will realise it was the boomers multi-decade version of a crypto scam.
Bcnich, is that you?
He’s posting under pjmat
Looks like Labor has fired up the Information Bureau to begin riling up public hatred against the gas companies to nullify any RSPT-style campaign should they trigger the ADGSM.
https://www.abc.net.au/news/2022-06-13/ian-verrender-column-on-electricity-bills/101146926
Mark Ogge on Inside Business this evening provided a scathing assessment of the situation.
Crypto is a solution looking for a problem…
https://www.reddit.com/r/Buttcoin/comments/vb9f4m/them_name_a_few_use_cases_for_web3_web3_bros/
Crypto solves one problem : how to make payment untraceable for illegal activities like kidnapping and blackmail.
New Zealand …
Borders open: More people leaving New Zealand than entering … Brianna McIlraith … Stuff New Zealand
https://www.stuff.co.nz/business/128947550/borders-open-more-people-leaving-new-zealand-than-entering
More people are leaving the country than entering, with departures the highest since February 2020, data from Stats NZ shows.
In total, 97,093 New Zealanders departed overseas in April.
Tourists arrived, but in smaller numbers. There were 54,303 tourists in April, equal to about 18% of tourist arrivals in pre-pandemic April 2019. … read more via hyperlink above …