In the nation’s collective consciousness there are few issues that occupy as much mental headspace and backyard BBQ conversation as interest rates. For some, each rate cut is treated like nectar from the Greek Gods atop Mount Olympus. After all, over the last decade the pathway to greater levels of household disposable income for mortgage
Stocks only go up is back. The Market Ear. Nets caught up Net leverage for hedge funds have kind of caught up with gross leverage – when looking from a percentile perspective. We have now arrived at generally “stretched” levels. Source: JPM PI More on the addition in net The net leverage climb steadily over
Ferrous lifted again Friday. Some charts show significant churn in the underlying state of the market. The first chart is difficult one to swallow. Steel production is down 2-3%. Chinese iron ore production is flat. Some of this is the continued orientation towards BOF versus EAF, but not enough to explain the chart. Some MySteel
Be careful what you vote for. The Australian. Anthony Albanese has given a speech that will heighten fears of a growing strategic and political disconnect between Australia and Washington. …“Our alliance with the US ought to be remembered as a product of Curtin’s leadership in defence and foreign policy, not the extent of it,” he
Friday night was a subdued session as Wall Street was closed for the (last?) 4th of July celebration while European shares took a drop as the expectations of entrenched tariffs from the Trump regime’s deadline this week look set. The early and surprisingly upbeat NFP print gave the USD a small reprieve in the previous
DXY is stable, but the EUR is in a hurry. AUD is not. CNY plods on. OPEC boosted big over the weekend. Oil is to suffer. Metals flamed out. Miners meh. EM is looking a bit like its old self. Junk meh. US markets were shut for Independence Day, but the falling dollar is starting
Domain/Nine has a new excuse for the property bubble. Nine. This is a small portion of the tens of billions of dollars of proceeds of crime that need to be laundered each year – including the $12 billion annually spent on illicit drugs such as cocaine. The vast majority is channelled into houses, apartments and
If you are curious about the differences in methodology between myself and the usual auction data providers, there is an explanation down the page. This week brought the strongest results for both Sydney and Melbourne since June 2023. Sydney recorded a sold to listed clearance rate of 48.6%, up from 44.1% last week and
Local Reads Senior home affairs official abused public office to get her future brother-in-law a job, Nacc finds – Guardian…absolute disgrace…. National Anti-Corruption Commission suppresses name of corrupt public servant – Ninefax Federal government commits $430 million to prop up Newcastle hydrogen hub – ABC Qantas executives slow to be seen after data breach affecting
Stock markets are having mixed reactions to the early morning passing of the Trump regime’s Big Billionaires Bill but are also hesitating around the blanket tariffs that are set to go into motion on the 1st August. The Orange Mussolini has resorted to just sending out letters instead of negotiating trade deals as he is