So says Bernstein. Did DeepSeek really “build OpenAI for $5M? There are actually two model families in discussion. The first family is DeepSeek-V3, a Mixture-of-Experts (MoE) large language model which, through a number of optimizations and clever techniques can provide similar or better performance vs other large foundational models but requires a small fraction of the
Westpac with the note. The Westpac Card Tracker Index* has come off a volatile Christmas-New Year period, retracing 4.5pts over the last two weeks to 137.8. The latest Index read is now slightly below the Dec month average (noting that all figures are adjusted for regular seasonal fluctuations). Underlying momentum has remained steady but unspectacular through the
MB has a love-hate relationship with The Australian’s Judith Sloan. The hate is usually about gas. I’m sure I’m not the only one who thinks it’s passing strange – more than passing strange – that Australia is about to become an importer of liquefied natural gas as well as an exporter. …How did this bizarre
The FT with the story. Donald Trump’s Treasury secretary Scott Bessent is pushing for new universal tariffs on US imports to start at 2.5 per cent and rise gradually, said four people familiar with the proposal. The 2.5 per cent levy would move higher by the same amount each month, the people familiar with it
You can’t retain government on a commitment to retaining government, which is all Albo the backroom bovver boy has ever offered. A majority of voters for the first time expect the Coalition to win the next federal election, with Anthony Albanese sliding to the lowest approval levels since becoming Prime Minister amid a fall in support for
The data flow in Australia this week centres on Wednesday’s vitally important Q4 24 CPI release. This inflation print will make or break the case for the Reserve Bank of Australia (RBA) to deliver an interest rate cut at its next meeting on 18 February. CBA estimates that the policy-relevant trimmed-mean CPI rose by 0.5%
Ferrous markets are rallying into LNY. The underpinnings remain weak. Flat is OK. Long is not. Is tariff front running done? I’m a buyer of puts on strength into May seasonal weakness.
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In the last couple of weeks, the recovery in China’s primary property market has slowed. The secondary market slowed too, though not quite so much. Prices are threatening to bottom in both markets. Sentiment sucks. Oh dear! Stimulus lol. Ain’t no future ‘ere. Meanwhile, the wider economy also slowed with the January PMIs. Manufacturing. Services.
The Market Ear with the carnage. It was late On Thursday we pointed out the logic on why it was “Getting Late To Chase The Market”. SPX has reversed aggressively right in the top of the range. 100 day comes in around 5950 (futures), but the big supports are down in the 5900/5850 area. This
Big drama on Wall Street overnight as AI dragged tech stocks down heavily with the NASDAQ losing nearly 4% as Nvidia and others lost significant ground. Broader industrial shares were hit as well with European stocks also failing to advance, sending a dark signal for Asian markets on this morning’s open. The USD is getting