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OECD tips long per capita recession

November 30, 2023 - 13:40 -- Admin

The June quarter national accounts from the Australian Bureau of Statistics (ABS) revealed that Australia has fallen into a per capita recession following two consecutive quarters of negative per capita GDP growth: Next week’s national accounts for the September quarter will be released by the ABS, with the nation’s GDP growth again expected to be

Chinese PMIs sucked back into property black hole

November 30, 2023 - 12:59 -- Admin

From China’s NBS just now. In November , the manufacturing purchasing managers index ( PMI ) was 49.4% , down 0.1 percentage points from the previous month, and the prosperity level of the manufacturing industry dropped slightly. In November , the non-manufacturing business activity index was 50.2% , down 0.4 percentage points from the previous month and still higher than the critical point. The non-manufacturing industry

Bonds go boom

November 30, 2023 - 12:30 -- Admin

The Market Ear with the latest positioning. TLT upside mania What a difference a month makes. We outlined the contrarian TLT logic on October 23, in our post Dare the TLT? The world’s most hated asset back then has reversed and we are trading above the 100 day for the first time since May. The

Albo hides Alboflation

November 30, 2023 - 11:40 -- Admin

Albo the Disaster is burying his energy and immigration inflation shocks under subsidies. Government policies are holding down inflation but electricity prices are starting to rise as rebates come to an end. The Monthly CPI Indicator rose 4.9% in the year to October, down from 5.6%yr in September and the recent peak of 8.4%yr at

Melbourne house price fall in November

November 30, 2023 - 11:00 -- Admin

CoreLogic has released its daily dwelling values index to 30 November, which shows that values rose by 0.6% at the 5-city aggregate level, driven by strong growth across Brisbane (1.2%), Adelaide (1.2%) and Perth (1.9%): By contrast, values actually fell across Melbourne (-0.1%), whereas Sydney values rose by only 0.3%. The next chart, which plots

The Victorian government is a financial black hole

November 30, 2023 - 10:40 -- Admin

Following nine years of financial incompetence from the Andrews Labor Government, Victoria is drowning in debt with the nation’s lowest credit rating: Victoria has the nation’s largest state debt (Source: Alex Joiner). Saul Eslake, an independent economist, asserts that Victoria’s mounting debt is attributable to the government’s decision to “embark on very big, largely debt-funded