All we need is a proper gas reservation regime on the East Coast to supply our own super cheap gas to ourselves ahead of giving it all away to China, and this goes away: The energy industry has hit back at a proposed system allowing state governments to seek temporary extensions for [coal] power station
Friday night saw the follow up release of the US PPI inflation print that also came in hotter than inspected but didn’t garner the same reaction earlier in the week with the USD relatively steady and bond markets also calm. Wall Street fell back a little but remains near a record high with European stocks
The Market Ear on the big stretch. Finally, stretched The GS sentiment indicator that measures positioning across various investors finally crawled back to “stretched” which should indicate lower returns going forward. Not a sell-signal per se, but “in the zone”. Goldman Et tu Bull-Bear? Can we get a nice “betrayal of the bulls” sell signal
If you want a textbook example of why the Australian Greens cannot be trusted, check out the below lies from housing spokesperson Max Chandler-Mather on Sunday’s ABC Insiders program. Chandler-Mather point blank lied that record immigration has had minimal impact on the nation’s housing market. He has also called for an even larger intake, claiming
Attention anybody. Australian gas is now comfortably the most expensive anywhere on planet earth: US $2.50Gj Europe $8.70Gj net back. Asia $10.60Gj net back. Australian gas is $11.73Gj. It comes out of the ground for next-to-nothing up the road: Canberra has a spaghetti bowl of existing and possible regulations to fix this in an instant:
CoreLogic has released its preliminary auction results for the weekend, with the preliminary clearance rate soaring across Sydney to its highest level since mid-October 2021 despite the strongest volumes this year: Sydney held 688 auctions this weekend, resulting in a preliminary clearance rate of 81.7%. Melbourne held 961 auctions, with 72.2% selling at auction thus
Oddly, DXY fell after a red hot PPI: The entire market pivoted back to value over growth. AUD pumped: North Asia sleepy: AUD bears have surged on CFTC. Hard for the currency to fall much now: Oil is trending higher. Big trouble here if it rolls on: Dirt popped: Miners too: EM up: EM junk
Sydney’s median house price hit an all-time high of nearly $1.6 million at the end of 2023, according to Domain: At the same time, Sydney’s rents are by far the highest in the nation after experiencing explosive growth since the start of the pandemic: The above represents a ghastly equation for aspiring first home buyers
It is not me saying this. It is Westpac’s Luci Ellis, former Head of Financial Stability and Assistant Governor of Economics at the RBA. First, core inflation measures have not fallen anywhere near as much as headline measures in most countries. Headline series are being flattered by the unwind of the previous surges in food
International Reads: New poll shows it’s the greedflation, stupid. 85 percent blame ‘corporate greed’ as a cause for inflation – Daily Kos Japan unexpectedly slips into recession, Germany now world’s third-biggest economy – Reuters Students lose out as cities and states give billions in property tax breaks to businesses – The Conversation Americans Blame Corporate