This is how catastrophic the East Coast gas cartel will become if left to its own devices. Competition cop Gina Cass-Gottlieb has picked a fight with Australia’s top energy companies over data she says shows they are planning to increasingly use gas produced for domestic purposes to meet commitments to foreign buyers. Queensland’s three major
Victoria has been a stronghold for the Labor Party in recent federal and state elections. In the 2022 federal election, Labor won 24 of 39 Victorian seats and 54.83% of the two-party preferred vote. However, in the forthcoming election, Victoria will become a serious problem for the Albanese government. Poll Bludger shows a 5.4% swing
It had to happen. Amid so much uncertainty around China, what was iron ore doing near $110? There is a little better news over the weekend but hardly game-changing. The Chinese manufacturing PMI flopped into expansion. The services PMI remains very weak. Though construction bounced, in rather unconvincing fashion. There is the NPC this week,
Australians have experienced the longest recession in modern history, with real per capita GDP falling for seven consecutive quarters as of Q3 2024. This reduction in per capita GDP has been driven by the household sector, where spending fell in six of the last seven quarters. The latest quarterly retail sales data from the ABS
Peter Hartcher did a great job of summing up cowardly Albo on the weekend. …as the People’s Liberation Army Navy conducted “what can only be interpreted as an act of intimidation”, in the words of sinologist Anne-Marie Brady of New Zealand’s University of Canterbury, Albanese tried to minimise it. He tried so hard he tripped
Let us begin with AEP in full flight. Telegraph. Donald Trump’s assault on the US federal government and the world’s interlinked manufacturing system have together reached an economic tipping point. “It seems almost unavoidable that we are headed for a deep, deep recession,” said Jesse Rothstein, Berkeley professor and former chief economist at the US
A very busy end of month session on Friday night saw a drop in US consumer spending but Wall Street played the short covering game while Chinese volatility spiked earlier in the session, causing European shares to make no advances. The USD is coming back against the undollars with new daily lows in Euro due
Goldman on the currency fantasy. We remain skeptical of a centrally-planned currency accord, but open to the possibility that shifting government policies around the globe could bring about the right conditions to weaken the Dollar. The market and macro set-up heading into either the Plaza Accord or the Smithsonian Agreement was very different than it
CoreLogic’s results for February show that Melbourne is now the cheapest major capital city housing market in the nation. Melbourne’s median dwelling value was $772,561 at the end of February 2024, $124,052 (14%) below the national capital city median. The improved affordability of Melbourne’s housing market follows subdued growth over the past five years. As
DXY is back again as EUR pukes. AUD whoa! Gold bubble bursting. Commods cooked. Miner massacre. EM deepsuckered. Junk unconcerned. Curve steepening. Stocks late rescue. This is ignominious stuff from the child president and his hillbilly cheerleader. The upshot is no deal to end the war. Though it is all so childish, a complete reversal