Global Macro / Markets / Investing:
- Oil slides 2% after record yearly crude production and ramped up refining activity. – Reuters
- Pentagon Report Finds Concerning Vulnerabilities on Blockchain – Wall Street Pro
- Crypto Hedge Fund Three Arrows Ordered by Court to Liquidate – WSJ
- Why some fear that big tech data could become a tool for abortion surveillance – PBS
- Fed’s Powell says clock is running to bring inflation down – Reuters
- Fed rolls out new index to flag early warning signs of distress in corporate bonds – Market Watch
- Tesla reportedly lays off 200 Autopilot employees in latest jobs cut – Engadget
- The biggest myths about gas prices and inflation – VOX
Americas:
- The big contributors to inflation you’re not hearing about: profiteering corporations – LA Times
- California marijuana taxes pouring millions into state, city budgets – 10 News
- DC will allow ‘self-certification’ for medical marijuana to support city dispensaries – Washington Examiner
- Nevada Approves Regulations for Cannabis Lounges – Cannabis Business Times
- Job cuts are rolling in as recession fears rise – NPR
- U.S. GDP’s Early 2022 Dip Was Bigger Than Previously Thought – WSJ
- ‘No guarantee’ Fed can tame inflation without hurting employment, Powell warns – PBS
- Powell Says Fed Must Accept Higher Recession Risk to Combat Inflation – WSJ
- Research Suggests the Pandemic has Accelerated the Decline of the American Middle Class – MSN
Europe:
- Belgian inflation nears 10% , highest since 1982. Spain’s 12-month inflation surpasses 10% in June, first time since 1985. – Reuters
- Greece to make formal request for F-35s from US – Ekathimerini
- NATO declares Russia its ‘most direct threat,’ offers Finland, Sweden membership – DW
- Russia accuses Norway of Arctic blockade and threatens reprisals – Euro News
- French court finds 20 guilty for 2015 Islamist attacks in Paris – Reuters
- Hard to tell if Poland wants Germany to be “ally or scapegoat”, says German ambassador – Notes from Poland
- Who’s Still Buying Fossil Fuels From Russia? – Visual Capitalist
Asia:
- Taiwan official calls for approval of U.S. computer chip subsidies – Washington Post
- Indonesian peace mission to Russia and Ukraine to put focus on food crisis – Yahoo
- Sri Lanka petrol: Why is the country in an economic crisis? – Yahoo
- China Comes Through with $2.3 Billion Loan to Pakistan – Asia Financial
- Concerns Rise That India is Exporting Russian Oil to Europe – Asia Financial
- Thailand to Remove Tax on Foreign Talent, Seeks to Increase Filming Attraction – Yahoo
- G7 aims to raise $600 billion to counter China’s Belt and Road – Reuters
Trans-Tasman:
- Right-wing extremism in Australia – APH
- Just 24 health workers helped under Morrison government scheme to bring 2,000 medics to Australia – The Guardian
- The tool of the trade – What made John Barilaro and the NSW Coalition think they could get away with such blatant nepotism? – The Monthly
- Australia ranks the highest among more than 20 countries for meth use – ABC
- Coal may exit Australia’s grid a lot quicker than most people think – Renew Economy
- Ambulance ramping linked to death risk – Yahoo
- Can the Australian Border Force search your phone at the airport? – The Guardian
- The government says its new unemployment system will benefit jobseekers. Not everyone’s convinced – ABC
- Albanese ‘is not Scott Morrison and that’s a big advantage’, Malcolm Turnbull tells French media – The Guardian
- Labor to introduce legislation for climate targets and EV tax cuts in first week of parliament – Renew Economy
- ‘Forgotten’ renters hope recent federal election will turn the tide for housing policies – ABC
- RBNZ: The tide ‘may well have turned against housing as a one-way bet’ – Interest.co.nz
- It’s ‘Peak Mortgage Shock’ time – Interest.co.nz
- Now Westpac is limiting home loans for those with deposits of less than 20% – 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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