The following chart from Alex Joiner from IFM Investors shows how average Australian mortgage sizes have chased home prices higher. There is an element of ‘chicken and egg’ on display here. Higher home prices require borrowers to take out larger mortgages, whereas people taking out bigger mortgages bid prices higher. Higher home prices combined with
In the early 2000s, the federal Labor government made the disastrous decision to allow the export of liquefied natural gas (LNG) from Queensland without forcing gas companies to first supply Australians. Gary Grey, the then-Federal Resources Minister under the Gillard/Rudd Labor governments, argued that domestic gas reserve policies create uncertainty and discourage investment, pitting the
I had the opportunity today to visit the Bradfield recount, thanks to being appointed as a scrutineer. I did not attempt to challenge any ballots, but this gave me the best way to see how the process works. I was thinking of doing a podcast, and I may do that at some point if I get to interview some of the scrutineers, but for now I thought I’d summarise what I found in a blog post.
A couple of comments from the BOJ over the Japanese bond market and the ongoing trade war with the US didn’t upset most risk markets in Asia as they move in correlation with a resurgent Wall Street. The latest local inflation figures came in a little hotter than expected but this was overshadowed somewhat by
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The Market Ear looks at the hated rally. Intact SPX’s steep trend channel since April panic lows remains intact. So far a perfect bounce on the lower part of the trend channel and the 21 day moving average. Support 5800, resistance 6000. Source: LSEG Workspace Missing even more Non dealers reduced the US equity futures
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More yawnulus please. Sales pancaked. Inventory a bit better. Completions down, down. It really doesn’t matter how much floor area developers sell, the enormous shadow inventory or unsold, empty, furloughed, half-built, half-dug apartments won’t run out for another 10k years. Iron ore demand to keep falling.
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