Month: July 2021

Why no Marxist revolution?

This week @profstevekeen explains why a revolution never really happened in the way Marx prescribed, but how it could when workers fight for their part of a shrinking global economy.

US GDP was better than it looks

Friday 30th July 2021

Markets have had a chance to absorb the dovish sentiment from the Fed yesterday and take stock of mixed data overnight. On the surface US GDP numbers looked weaker than anticipated, but a chunk of that was influenced by lower inventory and trade numbers. NAB’s Gavin Friend explains how consumption and investment was actually much higher than anticipated.  He says we can expect a strong GDP read for the Euro are later today, where vaccine levels are picking up. Markets have also been soothed from conciliatory messages from China regarding overseas investors. The Aussie dollar showed slower growth on the back of a weaker US dollar, as the question remains, how long will the Sydney lockdown really last?

Markets turn as Powell reaffirms ‘some way to go’

The FOMC statement this morning had little market response, but NAB’s David de Garis says there has been a sharper reaction to words from Jerome Powell in the press conference that followed.

Rocky road for China investors

Tensions with China are seeing contagion from stocks to bonds to currencies. On today’s podcast NAB’s Ray Attrill says its fears of regulatory change that will quickly motivate investors to move money.

Real yields reach lows, vaccine reach slows

Major earnings results could help give equity markets more strength, but, on today’s podcast, NAB’s Rodrigo China’s regulatory uncertainty and slowing recovery rates are adding caution. All eyes will be on the Fed’s response later in the week.

Economics and thermodynamics

Steve Keen has often said economics needs to incorporate the principles of thermodynamics. So what exactly is thermodynamics, and how would it change our study of the economy?

High hopes, big concerns and fewer babies

The battle continues between virus numbers and corporate earnings. Tapas Strickland talks through the direction markets will take this week.

Strong earnings, cautious ECB and NZ’s first day without QE

A continuation in the bond recovery as investor put aside COVID concerns, helped strong earnings results, says NAB’s Gavin Friend on today’s podcast.

Risk back on with rebound expectations

Oil, equities, bond yields – all back up today. On today’s podcast NAB’s David de Garis says the focus is on reopenings and recovery.

Markets recover, but why?

Markets are mixed today, says NAB’s Ray Attrill in today’s podcast, with equities bouncing back on reflation expectations, whilst bond markets remain cautious over the speed of recovery.

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