In September 2023, just as Australia’s net overseas migration was hitting its highest level in history (i.e., 556,000), NSW Premier Chris Minns told ABC’s 7.30 Report that he supported record immigration levels, claiming that more migrants were needed to build houses and apartments in the state. “We’re supportive of the commonwealth government’s decision to lift
Recently, the level of migration has been a major source of controversy. A major part of the controversy is the lagged nature of Australia’s net overseas migration figures and the extent to which leading indicators are representative of the true migration level. As of late October, the most recent data available extends only to March
The post Settling the migration debate appeared first on MacroBusiness.
Goldman kicks us off. China’s Q3 GDP report came in marginally above market consensus (though in line with our forecast) amid mixed September activity data — industrial production (IP )meaningfully beat market expectations, retail sales was in line, while fixed assetinvestment (FAI) missed notably, reflecting that the economy remains bifurcated. Real GDP growth moderated to
Visit many areas of state forest in parts of Victoria and you might get a shock – the forest isn’t there.
It used to be there — logged four, five, six or ten years ago — and once stood as tall, straight trees, sometimes more than 50 metres high. Now, no longer. The forest has failed to regenerate after being logged by former Victorian Government agency, VicForests.
The Market Ear melts up. Things can always melt up No, the 1999 analogy is not very likely, but imagine the AI narrative goes really crazy? After all, everybody tends to underestimate all moves. Full note here. Source: LSEG Workspace Never forget Santa coming this year again? Source: Equity Clock That was quick “US ETF shorts
The post Everything melt-up resumes appeared first on MacroBusiness.
A further rally on Wall Street overnight due to more solid earnings which overshadowed the subprime drama in regional banks, helped along by a positive reaction here in Asia in yesterday’s session to strong Chinese GDP numbers. The AUKUS trap seems to be closing as the Trump regime signed a minerals deal with Albo in
The post Macro Morning appeared first on MacroBusiness.
DXY is up. So is AUD. And CNY. Gold is unstoppable. Oil screwed. Metals confused. Miners rising debasement out of the bear market but the iron ore challenge looms. EM to the moon. Junk less worried. Yields down. Stocks up. Not much data again. More soothing from the loon on trade but today’s gong
The post Australian dollar rallies with humiliation of Rudd appeared first on MacroBusiness.
Paenitentia, Solitudo et Silentium
"The universe contracted; at its exact geometric center floated that sandy tidbit of dark bread and pale cheese.*"
Former Trump national security advisor John Bolton has been indicted in Maryland on 18 federal counts of violating the Espionage Act, which is kind of poetic for a guy who’s spent a career demanding that everyone else get indicted for leaking things.
Bolton pleaded not guilty and will now enjoy the same due process that he’s long tried to deny whistleblowers, journalists, and the occasional sovereign nation.
Australia’s auction market performed solidly again over the weekend, despite a high number of listings. According to Cotality, the national preliminary auction clearance rate rose to 73.8%, up from 73.0% the weekend prior and 58.2% in the same weekend of last year. “The clearance rate is an indicator that prices are going to continue to
The EU is doing everything in its power to undermine the upcoming summit between Russian President Vladimir Putin and his US counterpart, Donald Trump, the Russian Foreign Ministry has said.
Ministry spokeswoman Maria Zakharova told TASS on Monday that the bloc is carrying out “active subversive actions” ahead of the planned meeting in the Hungarian capital, Budapest.
Asian share markets have rebounded strongly on the TACO trade as the Trump regime looks like folding yet again over its tariff threats on China while the USD tries to take back a lot of lost ground against the majors but is only barely making headway. The latest Chinese GDP print didn’t scare the Australian
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