The greenback is ripping. AUD is rolling over. CNY stalled. This is not good for gold. Or the silly AI metals rush. Which is feeding RIO. EM is also a DXY downplay. Junk is cracking lower. Which is odd given yields. Bubble paused. There’s no obvious reason for the sudden volatility, except that there is
The 2025 federal election campaign saw both sides admit that they wanted to see Australian home prices rise at a ‘sustainable rate’ from already record-high levels. Both Labor and the Coalition offered ‘affordability’ policies that were really aimed at pumping homebuyer demand and increasing prices. It was a theme that has been repeated throughout this
AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Vids
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Statistics New Zealand’s latest migration data showed that only 13,066 net overseas migrants landed in the country in the year to July 2025. This inflow was well below the decade average of 49,000 and more than 120,000 lower than the late 2023 peak. The following chart from Justin Fabo from Antipodean Macro shows that the
I have just returned from a rock-n-roll thunder tour of the world that took in Tokyo, London, Amsterdam, Paris, and Rome. I have not visited any of these cities in forty years, so the changes were amazing. First, what had not changed. Everybody smokes, everywhere, thank god. Tokyo has barely changed as an experience, except
With the release of the latest data from Statistics Canada, it was revealed that Canada’s fertility rate had fallen to just 1.25 children per woman. To put this into perspective, it’s lower than Japan’s fertility rate of 1.30 children per woman recorded during the height of lockdown during the pandemic in 2021. According to commentary
The Market Ear on the bubble. Nothing is impossible Can the AI frenzy go into total overdrive? NDX now compared to 1999. Source: LSEG Workspace Retail mania “Retail investors have bought over $100bn of US equities over the last month on QDS estimates based on public data* – the largest 1-month buy on record, just
In this week’s podcast, we are taking a look at the crushing weight of Australia’s housing market—why affordability is being flattened under rising prices, what’s driving the squeeze, and what comes next for buyers, renters, and investors. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded
A national interest policy process is one in which a well-informed government determines its policy settings via a specialist area of the bureaucracy. Next, the draft policy is released, and parliamentarians make well-understood arguments to the public via an intelligent media with its own specialists. Having fortified the polity with knowledge, the government might then
A new report from Oxfam claims that the capital gains tax (CGT) discount and negative gearing are “disproportionately” benefiting Australia’s wealthiest, fuelling the housing affordability crisis and inequality, and harming the federal budget. Accordingly, Oxfam has called on the government to “properly tax wealth and restore a progressive tax system that works for working people”.