The Australian’s Judith Sloan has backed former Australian Treasury official Stephen Anthony’s prediction that Victoria now may require a bailout from the federal government. The Victorian Budget forecasts net debt of $188 billion by 2027-28, up from $115 billion in 2022-23: That means that each Victorian resident would owe $25,300 per head in state debt
Long-term failed Victorian Treasure Tim “Ponzi” Pallas rolls out an effigy of himself (lest somebody set it on fire) and presses play on a recorded budget message unchanged in years. In his address to the Melbourne Press Club and the Victorian Chamber of Commerce and Industry’s post-budget lunch, the state treasurer continued to emphasise that
On Wednesday, Seek released shocking labour market data showing that the number of job ads plunged 4.7% in April to the lowest level since January 2021. The number of applicants per job ad is also tracking around 70% above normal pre-pandemic levels: The massive rise in the number of applicants per job ad reflects lower
Risk is taking a pause in Asia with most stock markets giving up their start of week gains due to the uneasy lead from Wall Street overnight and rumblings of more conflict in the Middle East. The USD is firming against most of the majors as interest rate concerns dominate with the Australian dollar sliding
Goldman with the note. BOTTOM LINE:The Federal Reserve’s April 2024 Senior Loan Officer OpinionSurvey—conducted for bank lending activity over the first quarter of this year—reported that standards for commercial and industrial (C&I) loans tightened at a similar pace to the prior quarter, while a smaller share of banks reported tightening standards for commercial real estate
On Tuesday night, I was interviewed by Sky News’ Sharri Markson where I explained how there are “three Australia’s right now, whereby two thirds of Australians are doing it tough, while one third – mostly older Australians that own their homes outright – are getting ahead financially. Edited Transcript: Sharri Markson: Michelle Bullock’s press conference
Albert Edwards at Credit Suisse is making plenty of bearish sense. Long-time readers will know that they get an unadulterated view on these pages. That view may sometimes be wrong, or ‘early’ as I prefer to call it, but no reader can ever accuse me of falling victim to the optimism bias that the sell-side
Domain reports that the average home deposit as a proportion of sale prices in Australia has hit record levels of more than 32%: This comes as the amount of money required for a 20% deposit has roughly doubled over the past decade across Australia’s capital cities: “What we’re seeing is the people who are willing
The uberhawk Warren Hogan rages on: Judo Bank Chief Economist Warren Hogan says the Reserve Bank of Australia is “very worried” about inflation. “They’ve had a forecast that would get back to their target by the end of next year for some time now,” she told Sky News Australia. “But that would mean inflation was
Cit with the note. The global services PMI in April rose further into expansionary territory, increasing 0.3 pts to 52.7, with the services PMIs of all major economies showing expansionary levels for the first time since May 2023. The global services PMI has now risen for six consecutive months, and recent gains have been driven