Multi-billionaire apartment developer, “Highrise” Harry Triguboff, has ordered the federal government to open the immigration floodgates in order to fill his apartments and “boost prices” and rents: The apartment tycoon has… stepped up his calls on the federal government to bring in more immigrants saying Chinese buyers had helped boost prices for his Meriton apartments
The ferrous complex was soft on August 10, 2022: The bears are gathering: Iron ore prices will continue to face headwinds into the year-end, according to Morgan Stanley, as hopes of an imminent recovery in Chinese steel demand fade and signs of an oversupplied market emerge. …“We see little reason to be bullish on iron
The Market Ear with a nice summation of the crash in risk and crash-up in equities. Bear market blow-off time. VIX – welcome to inverse panic We are finally reaching the volatility puke we have been writing about for the past two weeks. VIX has not closed here in a long time. Reversal strategists are
Pantheon with the details of Chinese inflation. I expect deep deflation from the PPI in 2023 as trade margins collapse with demand as well. ————————————————————————————————– China: CPI inflation rose to 2.7% y/y in July, from 2.5% in June. Consensus was 2.9%. China: PPI inflation fell to 4.2% in July, from 6.1% in June. Consensus was
Risk sentiment reversed sharply on the “not too bad” inflation data from the US overnight, with Wall Street rallying at least 2% as the USD was sold off against the major currencies, with the Dollar Index down over 1%. The Australian dollar launched straight into the high 70’s as a result with stock futures suggesting
Albo’s energy shock rolls on today with some easing in the gas price to $16.50Gj easing power prices as well: Meanwhile, Labor’s Mad King is busy pimping the openly criminal gas cartel: Resources Minister Madeleine King will issue a full-throated defence of coal, gas and other minerals in keeping the economy going as Australia and
DXY broke lower last night and EUR broke higher AUD catapulted higher: Oil firmed: Metals too: And miners: Plus EM stocks: Junk was relatively subdued: So were Treasuries but the curve steepened: Stocks were in heaven: BofA wraps the cause: Headline CPI prices were flat (-0.02%unrounded) in July, compared to consensus expectations of a 0.2%
Comparison site Finder estimates that the average mortgage interest rate would rise to 5.85% if the official cash rate (OCR) reaches 2.5%. Finder’s Richard Whitten says recent home buyers, in particular, will struggle to make mortgage repayments if the cash rate continues to rise. A survey by Finder has found that one in five people
Deloitte’s weekly economics briefing notes that the housing market is becoming a key driver of Australia’s inflationary pressures: Housing was one of the key contributors to the latest CPI reading (alongside transport and household goods), growing 9.0% through the year to June. A key driver behind the growth was the jump in new dwelling prices,
Global Macro / Markets / Investing: Tesla’s next gigafactory might be in Canada – Tech Crunch Passed Inflation Reduction Act Cuts Tax Perks for Some EVs – Jalopnik The ‘Wage-Price’ Spiral Is a Symptom of Inflation, Not the Cause – Fee Climate change, scarcity chip away at degrowth taboo – Reuters Upcoming CPI Print Important