Renters in Australia’s capital cities would have saved $3.8 billion over the 12 months to March if rents had been frozen, according to a Better Renting analysis of Domain Rent Report data. The amount saved per rental household differs by capital city, with Sydney households saving $2741 and Melbourne households saving $2537. The Better Renting
AUD ground it out: Oil has lost its geopolitical premium.Gold is whatevs: Dirt was firm: And miners: EM is poised: Junk is poised: Treasuries are bid: Stocks loved it: Two points to make. US jobless claims rose, making everybody happy: Weekly jobless claims increase 22,000 to 231,000 Continuing claims rise 17,000 to 1.785 million And
Wall Street finally got some relief overnight with some inflation talk from the Fed and the latest BOE hold decision with further speculation the ECB may join the rate cut train sooner as well. The USD fell back as a result, pushing Euro higher and helping the Australian dollar rise back above the 66 cent
Rebar and iron ore are down: Late April CISA output was pretty good, now down only 2.3%: Steel exports are thumping, a general price negative for FE given it is dumping: Iron ore imports are still firm: Not bad numbers, but not good enough to hold through May.
Via the ABS. In the week ending 13 April 2024, payroll jobs: decreased by 0.6% in the month since 16 March 2024 increased by 2.3% in the year since 15 April 2023 Jobs growth in the major states has been demolished: Illustrating happiness for the RBA: “New migrants add to demand and there’s been that
Risk is only taking a pause on local markets with Chinese bourses powering ahead on recent trade figures while Japanese stocks and the Yen are being impacted by a talk fest from BOJ officials and others in trying to tame the recent volatility. The USD is firming against most of the majors as interest rate
The market Ear with more. The VIX roundtrip It took VIX 15 sessions to go from 13.5 to 21.3….and it took it 13 sessions to go all the way down to 13 again. Refinitiv Exhausted selling “We estimate >$80bn of outflows in the last month across equity ETFs and systematic strategies. Whilst that doesn’t mean
Recall RBA governor Michele Bullock’s remarks on Tuesday, playing down the impact that record immigration levels are having on CPI inflation: “New migrants add to demand and there’s been that element of it. They are certainly adding to pressure on the housing market. We know that. But on the other hand, they’ve added to labour
China’s factory production is facing criticism, but the country is not ready to make changes that could negatively impact its economy. European Union leaders have threatened to impose taxes on electric vehicles, and European Union President Ursula von der Leyen expressed hope for short-term action. China has announced that it will slow battery business growth.
The December Mid-Year Fiscal and Economic Outlook (MYEFO) predicted that Australia’s net overseas migration will fall to 375,000 this financial year. However, the Australian Bureau of Statistics (ABS) reported the highest monthly (105,500), quarterly (172,400), and annual (498,300) net permanent and long-term arrivals on record in February, defying Labor’s projections: The number of temporary migrants