Blogotariat

The ABS has just released CPI data for the December quarter, with headline inflation rising by 1.3% over the quarter and by 3.5% year-on-year: The result surprised on the upside, beating analysts’ expectations of a 1.0% quarterly rise and 3.0% inflation over the year. Of more importance, core (underlying) inflation rose by 1.0% over the

The post Aussie inflation smashes expectations appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

2021 saw a doubling of Australian property sales above the $2 million price mark, according to realestate.com.au. While all price points above $250,000 saw increased sales volumes in 2021, the biggest increases were for properties priced above $2 million, with $3 million-plus sales experiencing the strongest growth: Nevertheless, the highest share of sales nationally remained

The post $2 million-plus property sales doubled in 2021 appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Last week’s stunning labour market data, which saw Australia’s unemployment and underemployment rates fall to pre-GFC lows, helped the ANZ-Roy Morgan consumer confidence index rebound 2.2%: ANZ-Roy Morgan Aus Consumer Confidence rose 2.2% last week, over the neutral 100. The same week, #unemployment dropped to its lowest in more than 13 years. Ahead of Q4

The post Consumer confidence rebounds on employment boom appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

NSW has recorded another 18,512 new COVID infections over the past 24 hours and 29 deaths: Victoria recorded 14,836 new COVID infections and 29 deaths: Daily cases continue to trend lower: Active cases are also trending lower: However, hospitalisations hit a fresh high in NSW: Whereas Victoria’s hospitalisations are running below their peak: Finally, COVID

The post NSW COVID hospitalisations hit new high appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Well that was an interesting night. Wall Street fell out of bed, tumbled down the stairs, threw up in the kitchen sink and then crawled its way back up, falling asleep with its chin on the edge of the bed. A wild ride that saw an intrasession loss of nearly 4% before finishing 0.3% higher

The post Macro Morning appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

DXY is up and running on the safe-haven bid: AUD was pulverised wall-to-wall: Oil broke, gold firmed on Putin hopes for war: Base metals were hit: Big miners were slain: EM stocks are going over the cliff again: EM junk rolled over. A little stress appeared in US high yield but there is no need

The post Australian dollar smashed as market panic rises appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

flag

The iconic flag that has become a symbol of Aboriginal Australia is now freely available for public use, after its designer agreed to transfer copyright to the Commonwealth following long negotiations.

read more

Labor’s shadow assistant minister for Treasury, Dr Andrew Leigh, has penned an article in The Australian bemoaning Australia’s lack of economic complexity, which resembles a poor developing nation: [A] troubling picture comes from the Atlas of Economic Complexity… According to the latest rankings, the world’s most complex economies are Japan, Switzerland and Germany, while the

The post ALP’s immigration extremist bemoans missing economic complexity appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

barn

Barnaby Joyce has apologised for claiming “people aren’t dying” of Covid in Australia, while also blaming consumers and businesses for hoarding rapid antigen tests.

A bath of blood was avoided in the start to the new trading week here in Asia despite the big falls that has taken Wall Street closer to correction territory on Friday night, coupled with rising tensions over Ukraine/Russia. The USD remains very strong against most of the majors, with the Australian dollar still well

The post Macro Afternoon appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

What sort of content could attract a premium?

Less that a week after announcing that it will indefinitely seal its border to the rest of Australia and the world, the Western Australia Government has given up on its COVID elimination strategy. After WA recorded 24 new cases yesterday, Health minister Amber-Jade Sanderson said the rise in cases shows that the state’s Omicron wave

The post WA waves white flag on COVID elimination appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]

I love the smell of burning Hodlers in the morning, FTAlphaville with the note: It’s not been a great start to the year for HODLers. If governments (other than El Salvador’s) have their way, it could get a lot worse. This week Russia, a massive centre for mining, proposed a clampdown on that and on

The post Hodlers pounded appeared first on MacroBusiness.

[[ This is a content summary only. Visit my website for full links, other content, and more! ]]