‘Jerrabombera Pelican with Carp in its gob’ Photograph courtesy Geoff McVeigh News du jour – Terra Specufestor Albo turned the Bondi tragedy into a political stunt – AFR….and all the ‘leaders who called for a Royal Commission didn’t?… Trump’s war on the US Fed shows why RBA independence matters – AFR…once the Fed goes down
Asian share markets are quite mixed as we go into the final session of the trading week with local shares outperforming. The USD remains firm due to safe haven bids except against Yen while the oil price has been beaten back slightly. The Australian dollar is failing to get back above the 67 cent level.
All things Australian dollar are struggling a little this afternoon. DXY is firm. AUD sideways. CNY is still a thermal. But the metals complex is off. And miners. Plus EM. Still no joy for junk. Treasuries are flatlined. Stocks in a grind. Chinese regulators can be quite heavy-handed at times. Metals fell at the end of
Are LNG imports worthwhile given the approaching global glut? Labor’s domestic gas reservation scheme has delayed talks on LNG imports into the country’s southeast by at least six months, but has not eliminated the need to bring in gas, according to aspiring suppliers. They say the scheme will largely create an increase in available gas
In the not too distant past the metric net long term and permanent arrivals was a pedestrian and almost boring indicator for most, used by the like’s of the federal government’s Centre For Population as a leading directional indicator for future migration flows and by extension population growth. The image below is an excerpt from
TME with the charts. Time to MOVE? US 10 year has done very little over the past months, and we are actually trading at the same levels we traded at in late 2022. This has been reflected in bond volatility. MOVE has crashed since the Liberation day chaos, but note the 10 year is getting
During a meeting I had with a senior foreign economist at a major investment house six years ago, I explained how the mass-immigration economy would prevent any risk from engulfing the banking system. She asked how sustainable such an approach was, given the obvious deleterious distributive effects of the growth model (that is, it is
Since 2018, the Australian government has been attempting to negotiate what is one of the toughest and most time-consuming diplomatic agreements in the world: a free trade agreement with the European Union (EU). In that time, there have been several major sticking points for the two sides, from the acceptable volume of Australian meat and
Chinese credit growth data for December was released overnight. It was OK for the month, but the year was terrible, and the components were worse still. Total social financing was reasonable at 2.2tr yuan. However, broad credit still slowed to 8.3%. And let’s not forget that this number is being significantly boosted by bond issuance
The iron ore jaws have eased slightly. Bearish commentary is spreading. Iron ore’s robust start to the year is at odds with market fundamentals, as China’s steel output is on course for a seven-year low and port stockpiles have ballooned. The rally in iron ore futures is being driven by improved risk appetite and expectations