For a short while, anyway, Goldman. Both IMF and Elane (a Chinese shipping data company) provide vessel traffic data categorized by ship type. The IMF has developed a sophisticated algorithm to project export and import volume for major ports in China. While they generate daily series,the data is published weekly with a one-week lag. Elane
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This comes straight from the annals of the Department of Redundancy Department. Via Bloomberg: Australia’s Productivity Commission has identified 15 priority reforms to examine in the course of five inquiries it’s conducting for the government to try to boost economic efficiency and raise living standards. The five inquiries being conducted are: Creating a dynamic and resilient economy
You can’t keep a good Titanic up, and there’s no better example than Chinese property, which continues to sink despite Beijing’s next efforts. The price hole ripped into her side is still sucking in water. The iceberg of too high real interest rates is slowly melting, but why buy either of the below when you
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For today’s booth map of the day I’ve gone to Calwell, the most complex seat of 2025. This booth map shows the primary vote for Labor, Liberal and the two leading independents, and swings for Labor and Liberal.
The major parties lost primary votes pretty much all over the seat. The biggest swings, but also the biggest primary votes for the two independents, appear to be in the geographic middle of the seat, although you’d probably describe it as the north of the seat when factoring in how the outer north of the seat doesn’t have that many booths.
China (31.5% in 2023) and India (8.1% share in 2023) are driving the growth in global carbon emissions. The reason is simple: both have an insatiable appetite for coal. The following chart from Oxford Economics on electricity generation sources tells the tale. While the developed world has weaned itself off coal over the past decade,
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The Market Ear wraps us up. Fade the rip? “…one of our contrarian trading rules…when >88% of MSCI global stock indices trading above their 50-day and 200-day moving averages then you sell, and vice-versa; currently 84% of MSCI indices trading above 50dma/200dma”…global stock markets v close to “overbought”…good “fade-the-rip” reminder” (Hartnett) Teflon tech NASDAQ at
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Steel is showing the tariff strain. We are entering the year’s weakest seasonal period so iron ore ought to follow. Chinese property is weak. Export volumes have held up. But is it all diversion. Sooner or later, the crashed prices needed to muscle into new markets will flow back up the supply chain. Steel demand
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The Australian Bureau of Statistics (ABS) published data last month revealing that Victorians pay the highest state and local taxes in the country. Victorian state and local government taxes were $6,348 per capita in 2023-24, $654 (11.5%) higher than the state and territory average. Victoria also saw a 40.5% increase in state and local government
Risk markets seem to have concluded that the Trump Tariff Tax Trade Tiff is nearly over, and everything will go back to being normal, even though almost all the macroeconomic indicators suggest otherwise as the US economy slows down as stagflation rears its ugly head. The Trump regime ability to goose the stock market back
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According to Cotality (formerly CoreLogic), Australian rental affordability has never been worse, with tenants required to sacrifice a record share of their income to rent the median home. This decline in affordability follows a circa 50% increase in asking rents since the pandemic. Last week, leading apartment developer Tim Gurner warned that Australia’s rental crisis
The construction sector has experienced the nation’s highest rate of insolvencies, with 2,795 firms failing this financial year, up 24% on 2024. As illustrated below by Justin Fabo from Antipodean Macro, construction sector insolvencies are tracking at around double the pre-pandemic norm: Mirvac CEO Campbell Hanan warned that the failure of around 7,000 builders and