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Biased fake left press complains about fake right bias

September 18, 2023 - 11:30 -- Admin

Honestly, these two deserve one another. This is from Crikey, the single most activitist “yes” masthead in Australia: News Corp Australia’s coverage of the First Nations Voice to Parliament referendum is “heavily biased biased in favour of the No campaign”, an analysis of the company’s publications in the last few weeks has found. Of the

Why Australia has a housing shortage

September 18, 2023 - 10:30 -- Admin

AMP chief economist, Shane Oliver, published the below chart on Twitter illustrating how the record low rental vacancy rate across Australia has driven rents into the stratosphere: This follows Oliver’s statement to last week’s AFR Property forum where he blamed decades of high immigration for driving the nation’s housing crisis: “If you go back to

The property rebound is “over”

September 18, 2023 - 10:00 -- Admin

CoreLogic’s preliminary auction clearance rate registered a notable decline over the weekend following the second busiest weekend of auctions this year. A preliminary clearance rate of 70.1% was recorded across the combined capital cities, down 1.6% from the prior weekend, which was revised down to 65.8% at final figures. Sydney recorded a preliminary clearance rate

Iron ore melts up into thin air

September 18, 2023 - 09:30 -- Admin

The current rally in iron ore shows that any market can be squeezed. Because the China iron ore supply chain is relatively restocked, it is vulnerable to speculative price moves, but do not mistake this for underlying demand. Steel production fell in August and is below 2019: Output growth so far this year is 24mt.

There is no Chinese property recovery

September 18, 2023 - 09:00 -- Admin

Markets are cock-a-whoop! China is back. Goldman: August activity data mostly improved from July and beat market expectations. Industrial production growth rose in August amid improved export growth, driven mainly by faster output growth in computers, chemicals and automobiles. Year-on-year growth in retail sales and the Services Industry Output Index both rose in August, thanks

Australian dollar 40 cents when?

September 17, 2023 - 00:01 -- Admin

Friday night saw more strong DXY price action as it held all the gains: AUD tried and failed again: The AUD short came in a bit: CNY is pancaked: The machines are buying oil: Dirt not so much: Big miners flamed out: EM stocks and junk are dead: The curve bull steepened: Stocks puked: Credit

Weekend Links 16-17 September, 2023

September 16, 2023 - 01:44 -- Admin

  Global Macro Forecast for Fed’s new forecasts – still one more rate hike to go – Reuters Iran becomes third-largest crude oil producer in OPEC as Saudi turns down taps – BNE Intellinews Balancing act: Disinflation and recession – VoxEU   Asia China’s new home prices drop faster as analysts turn ‘negative’ on property-sector