Asian share markets are mostly higher across the board as traders anticipate more Fed easing after Friday night’s US jobs print showed the Trump regime’s economic malaise continues although local stocks had a little stumble. Meanwhile bond markets are trying to recover with many long dated yields across the UK, Japan and USA backing off
Prime Minister Anthony Albanese is back at it, lying that a renewables-based future will deliver Australia an “era of growth and prosperity” with the private sector leading the charge. “The global shift to clean energy is the biggest economic transformation since the industrial revolution and it is a profound economic opportunity for Australia”, Albanese will
Morgan Stanley is very DXY bearish. The US dollar has remained remarkably stable in recent weeks. Even the political noise surrounding potential personnel changes at the Federal Reserve and the decline in front-end UST yields have not rattled the greenback. This resilience stems in part from a perception that the US economy is absorbing import
The US jobs market is weak and getting weaker. The Friday BLS report has some dour implications for Australia. Total nonfarm payroll employment changed little in August (+22,000) and has shown little change since April, the U.S. Bureau of Labor Statistics (BLS) reported today. The unemployment rate, at 4.3 percent, also changed little in August. A job
The fake left is as dangerous as it is stupid. …a contribution from the strategist and former Kevin Rudd staffer Lachlan Harris stands out this week. Responding to Hugh White’s recent Quarterly Essay, Hard New World, Harris, a businessman and student of political communications, makes the case that the next great prime minister will be
On Sunday, I appeared on Freya Leach’s Sky News show, Freya Fires Up, to debate Kos Samaris on the merits of Australia’s migration system. The segment ended up being more of a polite discussion rather than a debate, given that we agreed on most things. Nevertheless, a list of potential discussion topics was sent beforehand,
The ferrous complex remains drunk as steel margins evaporate. And then there is this. S&P. Today, we are witnessing a resurgence in capital expenditure focused on iron ore, contrasting with the overall capital decline in the mining industry. Notably, a significant portion of this investment, focused on iron ore, is directed toward Guinea and the Simandou Blocks 1 & 2 and Simandou Blocks 3 & 4 projects. Simandou is a particularly high-grade deposit, with grades averaging 65.8%
The Market Ear on bulls versus bears. It’s like déjà vu all over again “The current set-up is very similar to where things stood a month ago. Recent stock market dip and recovery back to ATHs? Check. US equity positioning above average, but declining slightly? Check. HF gross leverage near highs? Check. Momentum performance choppy, but still near highs?
The Price is right. The federal opposition is in damage control following firebrand senator Jacinta Nampijinpa Price’s claims the government is accepting “large numbers” of Indian migrants into Australia to bolster Labor’s vote. Polling strongly suggests that Jacinda Price is right (especially now she has said it!). Indian migrants voted strongly for Labor at the
Last month, the Reserve Bank of Australia (RBA) lowered the official cash rate (OCR) by 0.25% to 3.60%. This marked the third 75 bp rate cut this year. Most economists and financial markets have tipped the RBA to deliver another two 25 bp rate cuts by mid-2026. The associated decline in mortgage rates has improved housing