DXY eased Friday night: AUD firmed against DMs: And EMs: CFTC positioning remains very short: Gold was firm: Oil too: Base metals were mixed: And big miners: EM stocks fell: Junk was soft: Treasuries were sold: Bunds bought: Italy eased: With stocks: Westpac has the wrap: Market Wrap Global market sentiment: US bond yields rose, the
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By Chris Becker You could call activity on equity markets last week as a return to stability, but that’s a stretch, as confidence remains cratered. A variety of macro and country specific risks continue to rise, from the Saudi’s malelovence impact on oil prices, Chinese share prices now in their fourth year of a bear
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As expected, Kerryn Phelps destroyed the Morrison Government in Wentworth on Saturday with the largest swing in by-election history. Should we celebrate? No. If Kerryn Phelps is the new face of Australian politics then we are sunk as a nation. Consider what we know. Ms Phelps is in favour of addressing climate change, killing offshore
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By Leith van Onselen The Australian Treasury has released briefing slamming the federal government’s ‘migrants to the bush’ policy and has called for a comprehensive population policy aimed at maximising living standards: There is a need for a population strategy that focuses migration on improving Australian living standards, while taking into account Australia’s capacity to
CoreLogic released its auction report yesterday, which reported another anaemic weekend of auctions. The preliminary national auction clearance rate was just 49.8% versus 50.7% last weekend (later revised down to 47.0%). The preliminary clearance rate was also way below the 64.7% recorded in the same weekend of last year: Auction volumes nationally were 2,119 –
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From Renegade Economist comes the fantastic Bruce Robertson (IEEFA) on how Australia destroyed its own energy markets: We discuss policies to reduce gas prices as per international best practice. In light of further consolidation in the industry, we discuss how gas sets the baseline price for energy production in the nation. How much could energy
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Good to see some straight shooting from Paul Kelly on the weekend: The decisions on Israel and Iran reveal a government operating on the edge of desperation and in danger of losing its way. The idea that it is in Australia’s interest to follow in Donald Trump’s footsteps is an illusion now contaminating much of the
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China completed its September data dump on the weekend with house prices that cooled a bit, up 0.9% on the month and 7.9% on the year: 62 of 70 cities had rising prices: The top tier remains cold but the lower 80% of the market is still on fire: Here’s the raw data: And the
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By Leith van Onselen Acadata has released its latest house price results for the UK, which shows that house price growth has fallen to its lowest level in 6.5 years: Most regions saw annual price rises although average month on month growth (apart from in August) continued to slow, with a 0.1% drop in September
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Global Macro / Markets / Investing: Notes on Global Convergence – NY Times Human capital formation during the first Industrial Revolution – VOX Major WTO Showdown Looks Harder to Avoid as U.S., China, EU Spar – Bloomberg Bitcoin’s White Paper Gave Us Liberty – Coin Desk The stock market is overdue for a one-day 5%
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