DXY is warming up. AUD was pounded with risk. CNY is fine. Gold shaky. Metals warning. Mining bear fully intact. EM rolled. Junk is fine. Yields too. Stocks were hit. There wasn’t much going on to explain the sudden nerves. I put it down to the approach of Jackson Hole. Societe General. The title
The solution to the rental crisis is being played out across Australia’s two most similar nations: Canada and New Zealand. Canada experienced a record rise in rents in response to the largest surge in immigration in the nation’s history. Last year, the Canadian government announced that it would freeze population growth for three years in
Asian share markets are flat or slightly down across the board in another very quiet session as macro news remains dominated by the farcical White House talks between Europe, Ukraine and the Trump regime. The moves to watch this week will be the Jackson Hole conference on Friday with Fed Chair Powell expected to make
New Zealand’s economy continues to face severe challenges. As illustrated below by Justin Fabo from Antipodean Macro, the Reserve Bank of New Zealand’s GDP growth nowcast is pointing to a 0.2% decline in real GDP in Q2 2025. New Zealand’s labour market is also in dire straits, with unemployment and underutilisation rates soaring to near-decade
At the end of 2024, CoreLogic (now Cotality) reported that the national dwelling value to income ratio and the percentage of income required to service a new mortgage were tracking at a record high. Cotality’s July housing report showed that the median dwelling value across Australia’s capital cities was $926,854 at the end of July.
DXY is refusing to go away. AUD is looking shaky. CNY stable. Gold and oil becalmed. Metals are troubled. Mining bear is back. EM stocks are filling the upside breakout. Junk fine. Yields firming a little. Stocks stuck. Morgan Stanley has a take I agree with. The good news was tariff price pressures were muted
South Australia is held up as the nation’s renewable energy leader with the highest penetration of wind and solar generation in the nation. South Australia shut down its last coal-fired power plant in 2016 and now generates more than 70% of its electricity from renewable sources, mainly wind and solar. However, the shutting down of
Wetspac with the note. Westpac Consumer Sentiment Index up 5.7% to 98.5 in August. • RBA’s third rate cut for the year provides a clear boost. • Long period of pessimism finally coming to an end. • Consumers less anxious about finances, cautiously positive on economy. • Sentiment lift broad-based, not just confined to those
Amidst the release of the Reserve Bank’s August Statement on Monetary Policy and the Albanese government’s upcoming roundtable summit, the issue of productivity growth has become a source of great debate and some controversy. On Twitter (also known as X), Nationals Senator Matt Canavan posted a chart from the Australian Financial Review showing productivity growth
The ferrous complex has flamed out as we approach the Beijing warmongering season. Channel checks by Goldman are OK. Orderbook trend- The forward orderbooks of most steel mills were mostly flat MoM in Aug, in line with seasonality. High-frequency weekly data suggests current steel demand down by 2.8% yoy for construction steel and up 5.1%