Shanghai rebar futures were flat yesterday and are going nowhere fast. SGX popped a litte: Dalian iron ore appears to be rolling over steadily after another rally yesterday was greeted with more overnight selling: The FE rally needs a new spur. It is unlikely to come from the economy. Sagging inflation tells the tale. Goldman:
Wall Street rebounded later in the session overnight while the USD firmed even more as the ECB held fire at its latest interest rate meeting. With the inflation genie nowhere near back in the bottle, bond yields are still spiking and the USD holding down undollars although some peripheral currencies like the Australian dollar which
DXY remained firm: AUD managed to undo a some damage: No help from North Asia: Oil is awaiting a new shock. New gold shows no sign of paying attention to old drivers like DXY or real interest rates: Dirt fell: Miners too: EM still poised: But junk is risk off: As yields pile it on:
Last week, the Australian Bureau of Statistics (ABS) released data showing that only 12,400 homes were approved for construction in trend terms in February, the lowest monthly reading since April 2012. On that run rate, Australia would only build 149,000 homes a year, 91,000 below the Albanese government’s construction target of 240,000 homes a year. Data
A very mixed trading session across stock markets in Asia today due to the fallout of the overnight US CPI print which came in much hotter than expected which spiked the USD but more importantly is seeing bond markets selloff across the world. The Australian dollar went down over 100 pips overnight to the 65
The dreams and delusions of the iMSM: Growth industries will gain federal aid in a Labor plan to unveil budget help for key sectors like clean energy, batteries and critical minerals in a bid to define the economic agenda at the next election by pledging financial support for thousands of new jobs. Prime Minister Anthony
Prime Minister Anthony Albanese last week spruiked that Labor has created about 790,000 new jobs since it won the May 2022 election. This is an average of 1,220 jobs per day, which Labor says is the highest of any government. However, shadow treasurer Angus Taylor contends that the growth in jobs merely reflects that Australia’s
Data from the Australian Securities & Investments Commission (ASIC) shows that 502 businesses in the retail sector have gone into administration so far in 2023-24, compared with just 193 during the same period in 2021-22. Factors such as the cost-of-living crisis and high mortgage interest rates are weighing on consumer spending, with smaller retailers bearing
Domain has released its Rental Report for March, which delivered more bad news for tenants. Australia’s rental market experienced a resurgence in rental growth in the first quarter of 2024, resulting in new record asking rents. Combined capital city house rents rose 5% (or $30) during the quarter, the largest quarterly increase in 17 years
Hold onto your seats, folks! Instead of our usual live podcast, we’re rolling out a jaw-dropping replay of ‘Revolutionary Investment Opportunities’! Dive into this episode and unlock the secrets to game-changing investments that could reshape your financial landscape! Don’t miss this golden opportunity to elevate your investment game! Get ready to dive into the future