The Market Ear kicks us off. The charts you need to know Here are a collection of the latest charts on sentiment and positioning from Morgan Stanley, Goldman, Deutsche, BofA, ISI, JP Morgan and more. NVDA’s GPT 3-year anniversary celebration NVDA celebrates upcoming 3 year anniversary of ChatGPT with a close to 1000% return… “….as
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Like other advanced nations, Australia is facing pressures from an ageing population. The federal government has tried to mitigate these ageing pressures by running a high immigration policy to mitigate labour shortages and increase the number of taxpayers. Former senior immigration department bureaucrat Abul Rizvi believes that Australia’s annual net overseas migration will average 300,000
DXY faded Friday night. AUD bounced. CNY too. Oil and gold sideways. AI metals stalled. Big miners trying. EM ouch. Junk OK. Yield eased. Stocks dump and pump. It’s all about the government shutdown now. Scott Bessent, US Treasury Secretary, is on the hustings saying growth might halve in Q4 and prices fall away.
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No jobs report for you! So that’s two months of non-existent unemployment data from the US due to the Republicans shutting down their own government so markets are unable to navigate or pivot on the non-farm payroll data and instead wonder at what is going on “under the hood” of the world’s largest economy (for
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The Albanese government’s fantastical target of building 1.2 million dwellings over five years, or 240,000 homes a year, is based on delivering another boom in high-rise apartment towers, even greater than the one experienced between 2015 and 2020. To meet the federal government’s lofty housing construction target, Australia would need to build more homes than
The housing market appears to have lost some momentum due to the recent inflation shock and expectations that the Reserve Bank of Australia (RBA) will keep interest rates on hold for the foreseeable future. Cotality’s daily dwelling values index continues to show the strongest growth in over two years, measured on a rolling 28-day basis:
I have been reading the book ‘The Great Wave’1 by Michiko Kakutani which was given to me by a mate who thought I would enjoy it. Kakutani is an American Pulitzer Prize winning literary critic and writer2. The book is subtitled ‘The era of radical disruption and the rise of the outsider’1.
Aussie punters are drooling with anticipation of a new housing boom. Victoria disease is preventing madness in the South East, but elsewhere it is all greed. Plenty of room to rise before any nerves kick in. The young and abused have been co-opted. The Oct survey detail points to another factor in the mix
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By Harry Ottley, economist at CBA: The RBA left the cash rate on hold at 3.60% as widely expected.The post-meeting communication was not quite as hawkish as we had expected. The data flow was mixed with home price rises accelerating and building approvals improving but household spending looking a touch softer than expected. Offshore, soft
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The ferrous complex is buckling. Steel output cuts are so far insufficient to lift steel prices. Iron must fall much further if steel mill margins are to be restored. Weekly data from consultancy firm Mysteel showed that fewer than 40% of the 247 surveyed steel mills were profitable, a level last seen in October 2024.
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International Reading: Tesla shareholders approve Elon Musk’s $1 trillion pay package – CNN ‘As Ugly and Cruel As It Gets’: Trump Fights Order to Fully Fund November SNAP Benefits – Common Dreams The US national debt has just passed $38 trillion — and economists say they might never recover – News.com Tariff refunds are now
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Asian equities are not doing well as markets start agitate over AI amid tonight’s looming US jobs report with the recent strength in the USD about to be tested. Continued volatility over trade wars amid the challenge to the Trump regime’s tariffs in the US Supreme Court are not helping either. The Australian dollar remains
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