To quote independent housing analyst Cameron Kusher, “Only in Australia would a government set up a housing fund that doesn’t build any new homes for several years and then might end up needing a bailout”. On Friday, it was reported that Labor’s signature Housing Australia Future Fund (HAFF), which was created with $10 billion of government
Over the weekend, we saw both sides of politics ‘jump the shark’ on housing policy. The Albanese government effectively announced a state-sponsored subprime mortgage scheme by promising to allow all first home buyers to purchase a home with only a 5% deposit, with the government guaranteeing up to 15% of the loan value, thereby eliminating
DXY is a falling meteor. Australian dollar crash up! Concrete boots did OK. Shorts were trimmed last week. Falling DXY is pushing up commods and gold. Mining relief. EM too. Spreads still stressed. Treasures no bueno. Stocks are doing a bit better. I am still watching Treasuries for where markets are going next. The stress
The Australian Bureau of Statistics (ABS) released data on permanent and long-term arrivals and departures to Australia last week. There were 111,740 net permanent and long-term arrivals in February, with 158,980 arriving over the quarter. The following chart from Justin Fabo of Antipodean Macro illustrates how net overseas migration appears to have rebounded strongly in
The Market Ear on equities. The outlook is so awful… When macro economists sound the most bearish, it often means the worst is already priced in. Markets don’t wait for confirmation—they front-run fear. Historically, when the consensus gets overwhelmingly negative, the actual downside rarely plays out as expected. Yes, we admit that this process has
The post Recession is not priced appeared first on MacroBusiness.
Meeting privately with King Charles III and Queen Camilla, Pope Francis congratulated the pair for their 20 years together. Despite having canceled their official state visit to the Holy See citing Pope Francis’ ill health and need for recovery, the king and queen nevertheless met privately with the Pontiff Wednesday afternoon.
One of the most volatile trading week’s has come and gone but all the signs remain that volatility is here to stay with weekend news that the “Art of the Deal” maker has already given up his key Trump card by exempting Chinese computers and smart phones from the 145% tariff slaps, while China is
The post Macro Morning appeared first on MacroBusiness.
Another Monday Message Board. Post comments on any topic. Civil discussion and no coarse language please. Side discussions and idees fixes to the sandpits, please.
I’m now using Substack as a blogging platform, and for my monthly email newsletter. For the moment, I’ll post both at this blog and on Substack. You can also follow me on Mastodon here.
The Q4 2024 national accounts from the Australian Bureau of Statistics (ABS) showed that households were stuck in a recession. Real per capita household consumption fell for a record eighth consecutive quarter. This followed a record 8% drop in real per capita household disposable income. CBA has released its Household Spending Insights (HSI) for March,
A new four-lane highway cutting through tens of thousands of acres of protected Amazon rainforest is being built for the COP30 climate summit in the Brazilian city of Belém.
It aims to ease traffic to the city, which will host more than 50,000 people - including world leaders - at the conference in November.
There were very few cicadas around this year... No Greengocers, but some of these highly decorated types, strangely quieter — unless the pitch of their call was too high to be heard.... I will try to identify.
YOURDEMOCRACY.NET RECORDS HISTORY AS IT SHOULD BE — NOT AS THE WESTERN MEDIA WRONGLY REPORTS IT.
Gus Leonisky