Over the last 25 years, China has undergone an absolute meteoric rise as an industrial and economic power, inadvertently dragging Australia along for the ride. At the turn of the new millennium, China possessed the sixth-largest economy in the world, sandwiched between Italy and France in the rankings and possessing an economy just one-quarter the
The solution to Australia’s rental crisis is being played out in real time in Canada. Rents in Canada soared to a record high in response to the country’s largest immigration influx in history. Last year, the Canadian government imposed a three-year pause on population growth to relieve the strains on housing and infrastructure. In the
The NAB survey yesterday confirmed an economic pop. The top business conditions indicator returned to +7, the same level as in June, after reversing the two-point drop that occurred in July. At this point, the index is in line with its long-term average, indicating that companies believe the current state of affairs to be generally
Frank Chung at News.com.au has published a startling report on the huge increase in migrants attempting to claim asylum. “As of July 31, there were 98,979 people whose protection visa application had been denied but were yet to be deported while 27,100 were awaiting a decision, according to the Department of Home Affairs”, Chung reported.
DXY is flopping around like a dead fish. AUD was rejected once, but looks ominous for a breakout. CNY is helping. Gold paused. Oil is stuffed. Metals meh. Big bear returned. EM to the moon! Junk is fine. Yields reversed a bit. Stocks ATH. US inflation is tomorrow, so that probably accounts for yields. There
Please note this is the last Macro Morning/Afternoon report for a month or so as I’m off on holiday – good luck, markets always get juicy when I’m away! Markets are ignoring macro risks, geo-political risks, monetary risks – all the risks – and focusing on the fact that the US Federal Reserve will cut
When you make race the issue, everything falls apart. Children are to learn about colonisation. Victorian children as young as four will learn the state’s history from the start of colonisation as described in the Truth be Told report of the Yoorrook Justice Commission, the official public record of the truth-telling hearings held from 2022
The Financial Review property summit was held last week, which contained the usual bluster on the need to lift Australia’s housing supply to meet demand. The summit heaped praise on housing minister Clare O’Neil for the urgency she has brought to the portfolio. “I think Clare O’Neil is one of the most activist ministers in
Asian share markets are stumbling around with a variety of macro pressures overshadowing the broad gains on Wall Street and European markets overnight. Meanwhile the fall in business confidence in Australia and the slightly higher dollar is seeing local shares selloff again. The Australian dollar has now burst through the 65 cent level as the
Last week, the Albanese government announced that Australia’s permanent migrant intake would be maintained at the historically high level of 185,000. William Burke, founder of Sustainable Australia Party, argues that the permanent migrant intake is understated by at least 50,000 for the following reasons: “It does not count the annual permanent Humanitarian Program of around