Global Macro / Markets / Investing:
- Federal balance sheet goes higher for the 4th straight week. “Quantitative Tightening” – St Louis Fed
- Fear in the Markets; Macro Commentary and Key Takeaways – Valkyrie Cryptofunds
- The Firefighter Arsonist’s Paradox — Central Bankers Are Now Worried About Inflation – Medium
- Chances of global recession nearing 50% – Citigroup – Reuters
- It Is Time To Rethink Central Banking – Forbes
- Mass biodiversity loss would slash global credit ratings, report warns – Reuters
Americas:
- Education Department agrees to cancel $6 billion in debt for some 200,000 student loan borrowers – CNBC
- Some economists say cutting gas taxes would have minimal benefits for consumers – NPR
- Supply Issues Account for Half of Surge in US Inflation, Study Says – Bloomberg
- A New Bill Would Redirect $100 Billion from the Military Budget to Pro-Worker Programs – Jacobin
- Only 23% of New Yorkers Can Afford Median Rent — And Prices Are Surging – Bloomberg
- Biden to call for 3-month suspension of gas and diesel taxes – AP News
- Rent Increases in the U.S. Have Broken Records for 13 Consecutive Months – Money
- Elizabeth Warren to Fed chair Jerome Powell: Don’t ‘drive this economy off a cliff’ – CNN
- Low-paid US airport workers may get reprieve with $15 minimum wage bill – The Guardian
- ‘It’s almost unbelievable’: People are having their job offers rescinded days before they start – CNBC
Europe:
- Germany raises gas alert level after Russia dwindles supply. “Gas is now a scarce commodity in Germany” – Insider Paper
- Russia’s chokehold over gas could send Europe back to coal – Washington Post
- In Russia, Western Planes Are Falling Apart – Wired
- UK inflation rises to 9.1%, its highest rate in 40 years – The Guardian
- Draghi pushes on the price cap, “an EU summit in July” – Global Happenings
- Germany takes step closer to gas rationing – BBC
- Dutch Farmers do a convy and block highways to protest stronger emission regulations – Euro News
Asia:
- Bank Runs Across China Trigger Complaints About Obtaining Cash – Epoch Times
- BMW Counters Tesla Offensive in China with New EV Plant – Nikkei
- Chinese radar breakthrough will see commercial drones soar in power and applications, says Shenzhen team – SCMP
- China’s payments, fintech sectors to ‘play bigger role’ in boosting economy, President Xi says, in positive signal for Big Tech – SCMP
- Singapore’s Covid-19 infections rise amid new subvariants but no change to rules – SCMP
- Tencent to Open Third Data Center in Japan on Cloud Computing Demand – Nikkei
Trans-Tasman:
- John Barilaro new job: NSW Premier Dominic Perrottet concedes two trade positions went to cabinet, but not Barilaro’s – The SMH
- Recruiter told to halt search for New York trade role a day before John Barilaro’s resignation – The Guardian
- Greens to amend budget unless government dumps top-end tax cuts – The SMH
- Qantas ‘a farce and a joke’: travellers rage at Alan Joyce over holiday chaos – Crikey
- Gippsland set to be named as Australia’s first offshore wind zone – Renew Economy
- Prime Minister Anthony Albanese to visit Paris to ‘reset’ Australia’s relationship with France – ABC
- Union chief says Reserve Bank in ‘boomer fantasy land’ over wage-price spiral fears – ABC
- Housing crisis: Lack of affordable housing set to cost Australia $25b a year – The SMH
- Why Australian journalists are at war with their audience – Independent Australia
- ASB’s rate hikes use ANZ as cover – Interest.co.nz
- It’s the worst year for first home buyers since 1957, Infometrics argues – 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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