Blogotariat

Earlier this week, ANZ Economics updated its Australian house price forecasts, tipping an 18% peak-to-trough decline in values through to the end of 2023: Sydney (-20%) and Melbourne (-17%) are tipped by ANZ to lead the declines. RateCity has estimated the degree to which first home buyers that purchased a median priced home in November

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November’s house price results from CoreLogic posted a 1.0% decline nationally and a 1.1% fall across the five major capital city markets. CoreLogic’s head of research, Tim Lawless, noted that the pace of decline has “been consistently moderating since the national index dropped by 1.6% in August… mostly emanating from the Sydney and Melbourne markets”:

The Reserve Bank of Australia (RBA) has released its commodity price index for October, which fell 5.0% in SDR (currency adjusted) terms: The commodity price index is now down 4.4% over the quarter and by 12% since its peak in June. According to the RBA: Preliminary estimates for November indicate that the index decreased by

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This week, the Federal Parliament passed legislation to establish the National Anti-Corruption Commission (NACC), a watchdog that will investigate potential corruption at the highest level. It passed with cross-partisan support. The Australia Institute has provided a primer on what the new NACC will entail. The NAAC will: Have a broad jurisdiction, both in terms of

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By Denis Bright   Victorians rejected the instability of minority government in favour of a third term for Labor’s Premier Daniel Andrews. He joins the ranks of just three Victorian Labor premiers who have achieved three consecutive election victories. This Labor Government will have a comfortable majority in the Legislative Assembly with a likely 54 seats.…

Australian mortgage commitments fell further in October following six consecutive interest rate hikes from the Reserve Bank of Australia (RBA). The Australian Bureau of Statistics (ABS) reported that the total value of new mortgage commitments fell a seasonally adjusted 2.7% in October 2022 to be down 17.1% year-on-year: Owner-occupier mortgage commitments fell 2.9% in October,

The latest Deloitte Access Economics’ Retail Forecasts have been released, which tips a “short and shallow retail recession” in 2023, with sales volumes expected to decrease by 0.2% and 0.4% over the March and June quarters of 2023. The contraction in retail sales will be driven by “cost of living pressures and a mortgage rate

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Goldman kicks us off with the weak PCE: KEY NUMBERS: PCE price index +0.34% (mom) for October vs. GS +0.37%, median forecast +0.4%, prior revised +0.34% PCE price index +6.02% (yoy) for October vs. GS +6.03, median forecast +6.0%, prior revised +6.27% Core PCE price index +0.22% (mom) for October vs. GS +0.25%, median forecast

The post More on fading US inflation appeared first on MacroBusiness.

Meh: Kerry Stokes-backed Beach Energy has swiftly moved to regain the upper hand in the escalating takeover battle for West Australian gas developer Warrego Energy, lobbing a higher offer that tops the surprise bid by Gina Rinehart’s Hancock Prospecting by 2¢ per share. WA has cheap-as-chips domestic gas prices thanks to effective gas price caps.

The post More gas takeovers make mockery of “sovereign risk” appeared first on MacroBusiness.

Last night risk markets hinged on the latest US inflation print, which came in as expected sending the USD lower but all the action was in bond markets which reacted harshly, sending 10 year Treasury yields sharply lower. Tonight’s NFP aka US unemployment print may put a further cat among the pigeons, with Wall Street

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DXY was poleaxed last night: AUD held its gains: CNY is breaking higher: Gold and oil flew: Base metals not so much: Big miners are grinding higher: EM stocks too: Junk looks like it has bottomed: As Treasury yields plummet: Aiding stocks: The data flow was positive for more DXY weakness. ISM was weak: “The

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