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
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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
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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
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Having been 100% wrong, 100% of the time, the AFR continues its interest rate scaremongering: The Reserve Bank of Australia is “very alert” to the cost of stubbornly high inflation lingering in the economy, signalling interest rates will need to stay higher for longer and might have to go up to curb price rises. The
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Over many years, Macro Business has argued that it is a myth that international education is a vital export industry for Australia. As shown in the next chart from the Department of Education, international education contributed $36.4 billion in exports in 2022-23, making it Australia’s fourth largest export after coal, iron ore and liquified natural
Ill health, perhaps especially mental ill health, is generally seen as a personal issue, requiring diagnosis and treatment. But at the population level, mental health problems have a profound message for our societies and their futures. We need to pay it more heed.
DXY eased overnight: AUD sagged North Asia did not help: Oil and gold are cooked for now: Wall Street loves a metals squeeze: EM wants ups: But junk is unsure: Yield fell: Stocks froze: And maybe that’s why the so called “no landing” is only a slightly delayed “hard landing”: These markets eat investors for
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Despite the Reserve Bank of Australia (RBA) hiking official interest rates by less than most other advanced nations, Australian mortgage rates continue to climb. As illustrated by the following charts from Justin Fabo at Antipodean Macro, the weighted-average interest rate on outstanding home loans in Australia edged higher to 6.08% in March. Average Australian mortgage
From Canada comes headline news from “Grizzly Weekly”: The Grizzly Weekly included this artist’s impression of the discombobulated human eating season ahead. Imagine some similar exclusively on Bondi Besch. Be a few drownings!
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The Market Ear on the latest positioning. The fear reset Global cross asset volatility indexes since April. All gains are erased, except for FX vol that remains higher. Refinitiv Et tu credit Credit protection has given back the gains we saw during the first 2 weeks of April. Refinitiv Downside protection The crowd chased downside
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