Some stability returned last night to risk markets with both Wall Street and European stocks making modest gains after scratch sessions across Asian markets yesterday. While the USD steadied again it remains under pressure as everyone is expecting a rate cut at the Fed’s December meeting while the Australian dollar is holding on to its
DXY is fading away. AUD is rising. CNY helping. Commodities took a breather. EM yawn. Junk better. As yields eased. Driving stocks. The Japanese shock appears contained in a currency sense. Japanese public debt is around $14tr, so you can imagine that any meaningful move in interest rates, especially a rapid one, is going to
Ballooning state debt, soaring taxes, a stagnating economy, and rising crime have made me highly critical of the Victorian economy. One area where the state government has performed well is housing affordability. As illustrated below, Melbourne dwelling values have risen by only 23% since the beginning of the Covid-19 pandemic in March 2020. This compares
Ballooning state debt, soaring taxes, a stagnating economy, and rising crime have made me highly critical of the Victorian economy. One area where the state government has performed well is housing affordability. As illustrated below, Melbourne dwelling values have risen by only 23% since the beginning of the Covid-19 pandemic in March 2020. This compares
A little bit of volatility across some risk markets here in Asia but generally equities finished where they started with the weak overnight lead from Wall Street as traders anticipate the upcoming rate cut at the Fed’s December meeting. The Australian dollar is still holding above the 65 cent level against USD as we get
One of the negative outcomes from the Australia-United States Free Trade Agreement (AUSFTA), which took effect in 2005, was that it increased patent and copyright terms, raising the price of drugs and copyrighted products. Thomas Faunce from the Australian National University (ANU) assessed that AUSFTA “undermined Australia’s PBS” by “allowing the US to alter the
Australian dwelling values marched higher in October, hitting a record high $979,000 median value across the combined capital cities, according to PropTrack. Since the beginning of the Covid-19 pandemic in March 2020, Australian dwelling values have surged in value by 59%, led by explosive growth across Brisbane, Perth, and Adelaide where prices have roughly doubled.
You can have AI or immigration, but not both unless you want a labour market disaster. But, as usual, we’ll have to find that out the hard way. At least, Aussie youth will. The Albanese government has decided against legislation to manage artificial intelligence, with a new national roadmap emphasising Labor’s focus on the technology’s
Last week, AMP chief economist Shane Oliver estimated that Australia had a cumulative shortage of at least 220,000 homes and possibly up to 300,000. “Starting in the mid-2000s annual population growth jumped by around 150,000 people largely due to a surge in net immigration– see the blue line”, Oliver wrote. “This should have been matched
It’s fixed! Two of China’s private data agencies skipped releasing monthly home sales figures without explanation, clouding the outlook for a key segment of Asia’s largest economy after fresh turmoil triggered by state-backed developer China Vanke Co. China Real Estate Information Corp. and China Index Academy, which are among the country’s biggest private property data providers,