Charts from TME. Tech is in a spot of bother. Tech volatility is trending the wrong way. What is the problem? AI capex is insane. The market is now caught between concerns about the ROI of these hyperscalers and the impact that such capacity will have on all industries that can deploy AI apps. VIX
The Albanese government last year dumped its controversial proposal to tax unrealised gains on superannuation balances above $3 million without indexation. On Wednesday, Treasurer Jim Chalmers introduced legislation in the House of Representatives to amend Division 296 and impose additional taxes on superannuation balances over $3 million, with thresholds indexed to inflation. If passed by the
A number of prominent Chinese economists have argued in favor of loosening restrictions on the movement of money into and out of the country. They argue that a weakening dollar presents a special opportunity to raise the value of the yuan abroad. According to Miao Yanliang and Ju Jiandong, this year and next represent a
I reported on Thursday on the record lift in mortgage commitments for first home buyers in the fourth quarter of 2025, driven by the Albanese government’s expanded 5% deposit scheme, which came into effect on October 1, 2025. The December quarter of 2025 saw $19.310 billion in lending to first home buyers, an increase of
DXY stopped falling last night, possibly as Trump withdrew ICE from Minneapolis. The AUD strongman refused to fall as much as broader risk supported by North Asia. I do not think that Beijing will allow the CNY upside acceleration for very long. Gold and oil fell after the American madman suggested Iran talks should continue.
An angry Michelle Bullock won’t hear a bad word about the Australian economy. Reserve Bank governor Michele Bullock has fired back at Nationals senator Matt Canavan after he accused her of “gaslighting” Australians over the state of the Australian economy. Ms Bullock has also rejected repeated efforts by the federal opposition to pin the blame
Following the reopening of international borders after the conclusion of the Covid-19 pandemic, Canada experienced a record surge in immigration alongside a corresponding rise in rents. The following chart from the National Bank of Canada from February 2024 illustrates the situation at the time, with both population growth and rents exploding: Temporary residents drove Canada’s
Charts from TME. Tech continues to range trade, reminiscent of 2024/25 when it ultimately fell out of bed. Tech volatility continues to trend higher as well One possible threat to tech is oil, which is pushing the upper limits of its downtrend. If it were to break out and put pressure on long-end yields, tech
The Albanese government’s expanded 5% deposit scheme for first home buyers came into effect on October 1, 2025. The First Home Buyer Guarantee program enables eligible buyers to purchase a home with a 5% deposit, with the federal government guaranteeing the remaining 15%. This means buyers avoid paying Lenders Mortgage Insurance (LMI), save $10,000–$30,000 depending
AGL Energy is the latest to warn that Albo’s gas dog’s breafast is delaying critical investment needed to prevent supply shortfalls later this decade. Chief executive Damien Nicks said the absence of detail about how the scheme would operate was already affecting contracting and capital decisions, cautioning that ambiguity risked chilling new supply. The federal