Melbourne has started 2024 as Australia’s house price loser. According to CoreLogic’s daily dwelling values index, Melbourne is the only major capital city market to experience price falls, with values falling by 0.3% so far this year, against a 2.1% increase at the 5-city aggregate level: The rolling 28-day time series of value growth is
Australia’s greatest bore, Paul Kelly, wrote a long-winded dirge about inflation on the weekend. It included quotes from all the usual suspects: Warren Hogan (the hawk), Saul Eslake (the dove), and Chris Richardson (the fence sitter). The piece told us precisely nothing other than one sentence: The danger is that inflation may start to stabilise
Two of the primary destroyers of the Australian energy markets are Tony Wood and the Grattan Institute. Wood is a former gas executive at Origin Energy and a Grattan Institute energy analyst. Origin also sponsors the Grattan Institute. This marvel of industry capture achieved the mass destruction of the National Electricity Market (NEM) with a
The Albanese government has set a target to build 1.2 million homes over five years, beginning 1 July this year. To meet this target, Australia must build 60,000 homes every quarter or 240,000 homes annually for five consecutive years. The following chart plots Labor’s housing target against Australia’s historical dwelling completions: As you can see,
JPM with its global growth tracker. A weaker-than-expected 1.6%ar US GDP gain last quarter reduced our tracking estimate for 1Q24 global growth to 3.1%ar. But this disappointment does not temper our confidence that global growth is likely to maintain an above-potential pace as it builds a broader and more sustainable base. Signs of this broadening
The Market Ear kicks us off. What is the long term positioning picture? The long Asset managers and leveraged funds are running very big longs here. JPM Grossing and netting up Gross at 5 year high and net at 97%tile 1 year. GS The structural reset of shorts Short interest as a percentage of SPY
The post Stocks rocket refueling appeared first on MacroBusiness.
The Property Council of Australia has hit rock bottom with their latest propaganda report claiming that the record volume of international students is not contributing to Australia’s rental crisis: International students make up only four per cent of Australia’s rental market and are not to blame for the housing crisis, it has been revealed in
Friday afternoon, some guys I know, good with a blade, cut out the melanoma that’d been sneakily growing on the back of my head where I couldn’t see it.
You come at the king, etc.
So I won that round. I needed a skin graft to fill in the hole, however, so the surgery was a bit gnarlier than usual, and I had to go under general anaesthetic for it. I don’t mind that. It’s kinda like getting a free nap. I thought there was a chance I’d end up staying overnight because my procedure was late in the day, but no. They cut me up and turned me out.
Wall Street rebounded on Friday night as European stocks also lifted as the latest US core PCE (personal consumption expenditure) figures came in cooler than expected, driving expectations of a sooner rate cut rather than later from the Fed. The USD firmed against most of the majors although Yen was sold off to new multi
The post Macro Morning appeared first on MacroBusiness.
Last month, I wrote a piece about doing geological fieldwork along the southern Tasmanian coast, which is only accessible by boat, floatplane, helicopter or a two day walk along the South Coast Track. I related how our RAAF Iroquois transport was organised through a fortunate coincidence*.
While going through boxes of photographs to determine what we keep and what we don’t in our downsizing, I came across the attached photograph, which was taken by my then supervisor. It is of me being winched down onto a narrow beach near Point Cecil.
https://www.youtube.com/watch?v=bmz4nzcsx-4
Will China win the energy transition race?
https://www.youtube.com/watch?v=vcdallrJDYc
TABLES TURNED: Blinken's BOLD Threats to China Receives a STRONG Response Back
Earlier this month, The Australian Population Research Institute (Tapri) released a comprehensive survey showing Australians comprehensively reject high immigration and a Big Australia. Tapri’s December 2023 national survey of 3000 voters (published April 2024) shows a large and growing voter constituency concerned about the level of immigration. In total, 74% of surveyed voters wanted lower
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.
Amid Australia’s justified concern over male violence against women, we should remember how much we have been able to achieve so far. Some important indicators of violence against women have more than halved in the past three decades.
Prologue: Violence against women is a bad thing, and it’s still bad even when it used to be worse. We should be trying hard to lower rates of violence, by finding good solutions and implementing them with urgency. We should also understand just what we’re dealing with – which is what this summary tries to do.