Kia ora. Long stories short, here’s my top six things to note in Aotearoa’s political economy around housing, climate and poverty on Thursday, November 7:
Donald Trump’s re-election as US President overnight has already driven global interest rates sharply higher in anticipation of massive US borrowing to fund tax cuts, along with expectations of higher global inflation and slower economic growth because big new trade-slowing tariffs.
Scoop of the day: Exploited migrant workers on a special protection visa are being told to get ready to return home. The Post
Deep-dive of the day: Wairoa plans to use its showgrounds as a pathway for floods. 1News
Solutions news: A group of scientists and engineers are proposing to put what would be Aotearoa’s biggest solar farm on the roofs of schools and supermarkets in Auckland. Future Proof.
Quote of the day: Donald Trump says he believes he has ‘unprecedented and powerful’ mandate.
Chart of the day: Jobs were lost in the September quarter at the fastest rate since the 2008-2010 Global Financial Crisis.
(There is more detail, analysis and links to documents below the paywall fold and in the podcast above for paying subscribers. If we get over 100 likes we’ll open it up for public reading, listening and sharing.)
1. What another Trump Presidency means for us financially
Trump’s tariffs & tax cuts to lift inflation & mortgage rates, but slow GDP
Donald Trump’s re-election as US President overnight has already driven global interest rates sharply higher in anticipation of massive US borrowing to fund tax cuts. The US 10 year Treasury yield, which underpins longer-term interest rates globally and our fixed mortgage rates in particular, rose nearly 20 basis points this morning to 4.45%, its highest level since May this year.
Global markets are also adjusting to expectations of higher global inflation and slower economic growth because of Trump’s big new trade-slowing tariffs.
Here’s my view from the podcast above:
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