I reported on Thursday how New Zealand’s rental growth has plummeted in response to the sharp decline in net overseas migration, which fell to only 10,628 in the year to August 2025, down from a decade average of 49,000. As illustrated below by Justin Fabo from Antipodean Macro, the collapse in net migration has helped
When the Trump administration and Albanese government inked a deal for the U.S. and Australian governments to invest $4.6 billion ($3 billion USD) in critical minerals projects across Australia, the announcement came with something of an added bonus for the U.S. shortly after: a claimed commitment that Australian superannuation funds would invest “almost $1 trillion”
China HRC prices keep falling, indicating hot metal output is too high and must be cut to restore steel mill margins. Iron ore is on borrowed time while this dynamic persists. The Pilbara killer cometh. The Simandou project, the world’s largest source of untapped open-pit iron ore of the highest iron content located in Guinea,
The pent-up demand boost is gone, but there’s modest growth. Flash Australia Composite PMI Output Index: 52.6 Index, sa, >50 = growth m/m % qr/qr (Sep: 52.4) Flash Australia Services PMI Business Activity Index: 53.1 (Sep: 52.4) Flash Australia Manufacturing PMI: 49.7 (Sep: 51.4) Flash Australia Manufacturing PMI Output Index: 49.7 (Sep: 52.4) “While it
Earlier this week, housing minister Clare O’Neil lied on Twitter (X) claiming that “for the first time in a decade, new homes are being built faster”, that “the only way to make homes more affordable is to build more of them”, and “we’re doing exactly that”: O’Neil’s lies followed the release of the Australian Bureau
There is one thing that would put a serious cat amongst the pigeons for today’s gold and tech blowoff rallies, and that is an oil shock. A rising DXY chasing climbing real interest rates and inflation is a perfect storm for duration and gold. The news, then, is unsettling for bulls. U.S. President Donald Trump
A probable meeting between Xi and Trump next week gave some stability to markets over macro concerns that have outweighed earnings release on Wall Street, which rallied alongside European stocks overnight. Oil prices headed higher on more Ruzzian refinery setbacks and likely sanctions while the USD moved slightly lower against most of the majors except
Last month, the Albanese government unveiled Labor’s 2035 climate targets, which promise to reduce emissions by more than 62% and up to 70%. Meeting the target and then hitting net zero emissions by 2050 would require Australia to transform its energy system completely and would require an extraordinary amount of investment in new electricity generation,
Asian share markets are facing mixed sentiment throughout the region with a squeeze on Ruzzian oil due to sanctions helping the sweet crude market while Japanese politics are seeing a selloff in Yen and in stocks. Currency markets are seeing some strength return to the USD which has been taking back its recent lost ground
Stats New Zealand’s latest migration data revealed that only 10,628 net overseas migrants landed in the country in the year to August 2025. This migration inflow was well below the decade average of 49,000 and around 120,000 fewer than the late 2023 peak. The collapse in net migration has helped drive New Zealand rental growth