Progress towards peace in Ukraine is slow to the point of being imperceptible. Worse, European gas inventories are sharply depleted after a cold winter. ANZ. Europe faces challenges restocking its stores of liquid natural gas following sharp drawdowns over winter. This is likely to increase pressure on the global LNG market. Increasingly tight supplies resulted
The “Stats Guy” Simon Kuestenmacher, is a renowned immigration lobbyist. For years, he has pumped out propaganda supporting a Big Australia. Last year, Kuestenmacher seemingly experienced a Damascus moment, recognising that Australia’s business model is fundamentally flawed and harming the middle class: The Atlas of Economic Complexity, produced by the Growth Lab at Harvard University,
Goldman says China is back. 1.China is back on the radar, at least in terms of investor interest; 2.We expect more fundamental upside for Chinese stocks after ~20% gains ytd, but reiterate our tactical view that the bull run may slow on event risks and profit-taking pressures; 3.Equity investors seem relaxed about US tariff concerns,
Tuesday’s federal budget revealed that the cost of the National Disability Insurance Scheme (NDIS) will reach $50.8 billion next financial year, surpassing the $51 billion allocated to the defence budget. While the NDIS has created a significant financial burden on the federal budget, it is mainly responsible for driving Australia’s job growth and maintaining the unemployment
The jaws remain wide. There is good news in steel output. Hot metal production in March increased by 56,700 tons to 2.3626 million tons month-on-month. This is well above last year for the time being. However, it is coming on the top of a very slow January and February. Worldsteel. World crude steel production for
I reported this week on how the nation’s residential housing stock reached a record $11,032.2 billion at the end of 2024, with the average dwelling valued at $976,800. The average dwelling value of nearly one million dollars has created a nation of paper millionaires. It is also a key reason why Australian households are ranked among
Recall that Tuesday’s federal budget forecast a significant slowing of net overseas migration over the forward estimates. Net overseas migration is projected to slow to 335,000 this financial year, then to 260,000 in 2025-26, and 225,000 in 2026-27. As a result, Australia’s population growth forecasts have also been downgraded. Australia’s population is projected to grow
DXY faded. AUD was stable. Lead boots are heavy. Gold is melting up. Oil is a pest. Alwyas sell copper before Goldman does. Miners meh. Em meh. More junk stress please! Curve steepened, though. Stocks fell. US pending home sales were dreadful again, while initial unemployment claims are showing no sign of DOGE damage outside
The ACCC is in panic mode about the gas shortage. We forecast a shortfall of 9 PJ in the east coast market over July-September 2025 (quarter 3) if LNG producers export all their uncontracted gas, and a surplus of 6 PJ if they only export their anticipated spot sales. This is a 22 PJ decline
More tariff fallouts overnight as the April 2 deadline looms with Trump whining about Canadian-EU collaboration in the latest round of threats, while stocks put in slight selloffs amid the low volatility reactions. The USD pulled back ever so slightly against Euro and Pound Sterling but remains firm against Yen while the Australian dollar was