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Australian rental inflation surges higher

March 28, 2024 - 10:30 -- Admin

Earlier this month, CoreLogic reported that rental growth had reaccelerated, with advertised rents climbing by 0.9% in February, the highest reading since March last year. This re-acceleration also saw the rolling quarterly change in rents rise to 2.4%, the highest since May last year. On Wednesday, the Australian Bureau of Statistics (ABS) released its monthly

Why Aussie unemployment will jump

March 28, 2024 - 10:00 -- Admin

CBA’s head of Australian economics, Gareth Aird, has released a research note explaining why the latest unemployment print of 3.7% is way out of kilter with the economy. Aird expects the nation’s unemployment rate to rise over 2024 to 4.5% by year’s end, which would be 0.2% higher than the Reserve Bank of Australia’s (RBA)

Labor’s energy monster devours the East Coast

March 28, 2024 - 09:30 -- Admin

Today heralds a new day in Labor’s energy meltdown. Albo will travel to the Hunter: Anthony Albanese will launch a six-week Made-in-Australia pre-budget campaign in the coal­mining Hunter region of NSW, where he will announce a $1bn ­investment in the Solar Sunshot program to claim a bigger stake in global solar manufacturing supply chains. The Australian

Macro Morning

March 28, 2024 - 09:00 -- Admin

Overnight finally saw a strong session for Wall Street following recent solid domestic data as dovish comments from the ECB helped increase risk sentiment even though the USD was basically unchanged against the majors as Yen firmed. The Australian dollar still struggling as it failed to make any headway above the 65 cent level again.

Iron crash reaches the coconuts phase

March 28, 2024 - 08:34 -- Admin

The iron ore crash continues unabated, chasing rebar futures lower: The scuttlebutt is terrible: “A weak steel price and thin steel margins, coupled with high ore shipments, have suppressed ore demand and prices,” Cheng Peng, a Beijing-based analyst at Sinosteel Futures, said. Average daily hot metal output in April is expected at between 2.25 million

Australian wage growth commences long march down

March 28, 2024 - 08:30 -- Admin

Seek’s employment data has deteriorated badly over the past year, with job ads falling back to pre-pandemic levels and the number of applicants per job ad soaring around 50% above pre-pandemic levels, reflecting the combination of stalling demand and the record growth in labour supply (courtesy of record immigration). Reflecting the growing labour market slack,

Treasurer Chalmers defrauds taxpayers to lower inflation

March 28, 2024 - 08:00 -- Admin

Westpac with the note. Government rebates continue to hold down inflation while personal services inflation did pick up. The Monthly CPI Indicator gained 3.4% in the year to February compared to 3.4%yr in both January and December. The February print was a softer than Westpac’s forecast of 3.8% and the market median forecast of 3.5%yr.

Free the boats. Stop the planes

March 28, 2024 - 00:10 -- Admin

The ALP sure has learned how to be the LNP: The Albanese government has failed in its bid to rush emergency removal powers for non-citizens through the parliament, with the Senate rejecting their urgency and referring the laws to a parliamentary inquiry for scrutiny. The inquiry won’t report until May 7, meaning the earliest Labor could pass

The future belongs to America

March 28, 2024 - 00:05 -- Admin

HSBC with the note. ◆We believe the market is underestimating the productivity boost AI could deliver to a wide range of sectors ◆Bluesky: rapid AI adoption could drive EPS CAGR of 7.5% over the next decade and justify S&P 500 fair value of c5,900 ◆Overweight US and EM, underweight Europe, UK,and Japan. Upgrade health care

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