Miscellaneous

19

Weekend Sundries: 21-22 May 2022

  Desmodromic ‘A great day on the Albert River fishing. No Barra but got a feed of grunter, black bream and Jack. Burketown was a gem, great digs and people, and a welcome couple of days not having to pitch a tent. I also observed a large-billed heron, a bird species I hadn’t seen previously

9

Links 17 May 2022

Global Macro / Markets / Investing: Bitcoin’s 50% crash erases all of Elon Musk’s gains on Tesla balance sheet – Fortune Saudi Aramco Posts Record Quarterly Profit on Surging Oil Prices – WSJ Global Prices Expected To Rise As India Bans Wheat Exports – Says Results of the week of the blockchain industry – Medium

26

Macrobusiness Sundries: 14-15 May, 2022

Camden Haven ‘Dear MB friends, we hope you find the photos selected of some interest. Camino del Santiago from Saint Jean pied de Port in France to Burgos Spain. 15 days 370klms ‘   Geoff McVeigh   Autumn leaves at Braidwood   Butcher Bird with mince at Watson   Ritualised Forms Queenscliff Pier sunrise  

55

Macrobusiness Sundries: 7-8 May 2022

Desmodromic ‘Leaving Alice Springs I headed into the eastern Macdonnell Ranges to Ross River and Binns Track. Binns Track was rough, wash aways, some bull dust, sand and numerous dry creek crossings. It was all manageable but in the end I decided too remote to be travelling solo. Once at Gemtree, I abandoned plans to

39

Weekend Sundries: April 30 – May 1, 2022

Desmodromic ‘Initially headed north through the Flinders Ranges and took a punt with the forecast of rain. I lost. In Marree it poured rain and both the  Oodnadatta and Birdsville Tracks closed. Nonetheless took the opportunity to fly over Lake Eyre and was rewarded with spectacular views due to the rain. With little prospect of

0

Daily iron ore price update (violent destock?)

The ferrous complex was mixed on April 27, 2022: A few charts. Steel profitability has collapsed largely owing to the surge in coking coal: This would usually precipitate a violent destocking of raw materials by steel mills to crash prices. Mills are still overproducing steel as well, with inventories falling unusually slowly seasonally, which makes

18

ANZAC Long weekend sundries: 23 April 2022

Desmodromic Packed and ready for a Sunday departure, first stop the Cradock Hotel in the southern Flinders Ranges. The return to Adelaide from Cairns avoids Serat, thanks boom, and takes in Tibooburra, the preferred route of JohnR. I’ll post pictures to Weekend Sundries and updates to macro Afternoon whenever I can.       Jason

81

Macro Afternoon

Not a good finish to the trading week here in Asia with falls almost across the board in response to a hawkish Fed overnight. Mainland Chinese markets were the exception as domestic fears of quicker and higher rate rises by the RBA unsettled Australian stocks although the Australian dollar sold off sharply as well. Oil

405

Easter Weekend Links: April 15-19 2022

‘Falling Tide’ Fred Leist, 1940s, Art Gallery of NSW   Macro & Markets Elon Musk swoops down on Twitter with $41 bln cash offer – Reuters Are Major Central Banks Doing Enough to Fight Inflation? – Project Syndicate UN warns of ‘great finance divide’ as COVID shocks, debt, hits poorest hardest – DW Three ways

23

Weekend Chartfest: 2-3 April, 2022

  AUSTRALIA Child Care Support     Car Dependence   Employment Growth   Total Employment Energy Fuel Source   Rents, Wages, CPI and House Prices   Housing Stress   CPI, RBA Rate, Wage Growth   Labour Force Underutilisation   Mortgage Payments, Principal and Interest   Petrol Prices   Household Spending over time   University Sector

40

Weekend Sundries 26-27 March, 2022

Ermington Plumbing ‘The lovely old lady who lives in this Gladesville property paid $2500 for some roofing contractor to membrane the 2 Roof valleys into the dodgy 30 to 40 year old fill in extension and didn’t even pull back the tiles to membrane the whole valley properly. I’m told it has always leaked down

14

Australian dollar rocket launches

DXY popped and dropped last night: The AUD only popped, like a rocket: Commodities were relatively weak: Big miners rolled: EM stocks were OK: Junk is still lagging not leading this rally, a bad sign: As the yield curve is steamrolled: But stocks don’t care: Westpac has the wrap: Event Wrap US Richmond Fed activity

0

Daily iron ore price update (jawbone boom)

The ferrous complex blasted off on March 16, 2022: CISA early March output data was hammered as expected as the post-Olympics surge lasted as long as rain on the mountainside: The price surge was driven by economic jawboning. Goldman: Vice Premier Liu He chaired the Financial Stability and Development Committee meeting today, and he responded

24

Saudis mull joining Blob of Bellicosity

With each passing day, “Psycho” Morrison’s Arc of Autocracy is twisted more out of shape. Today we have Saudi Arabia mulling a connection: Saudi Arabia appears to be sending a political message to the U.S. with reports that it will consider accepting yuan payments for oil sold to China, currency strategists say. The world’s largest crude

3

Reborn Foxtel readies for public float

Two years ago, as the world headed into lockdown, Foxtel faced an existential threat. With global sporting events cancelled, Foxtel suffered a large loss of subscribers, which ultimately led to hundreds of employees being made redundant in a bid to shave costs. Over the following two years, Foxtel has experienced a renaissance. It began when

20

The first large dump of the 2022 election campaign – hot and steaming

Its here https://economicplan.gov.au A page on which the unwary may be gathered expecting some sort of guidance on who they should be voting for, running off the back of the Treasury Department. The Government is getting in early to divide us into individuals and business… Both offer delights. But before we go there let us

0

Daily iron ore price update (2022 growth targets)

The ferrous complex was mixed on March 4, 2022: Weekend news on the Chinese growth target was pretty much as expected but will probably be seen as bullish. Goldman with the note: The 2022 National People’s Congress started today. PM Li Keqiang delivered the Government Work Report (GWR) which outlined key economic targets for this

2

What now for stocks?

Stifel with some solid research: Seventeen non-recession S&P 500 corrections >10% since 1962 fell an average 16.95% and 4,050 (our new view, 4,200 prior) forthe S&P 500 would be -15.6%. Equities remain hostage to Russia-Ukraine, but there are other post-pandemic risks. After the S&P500 low (4,114 Feb-24) below our prior 1Q22 target price of 4,200,