The CBA bubble has been quivering uncontrollably for the past few days. It’s fallen all the way to 26x NTM, only double the historical average. Its peer group is also very fully valued, if less so. Compared with elsewhere, the bubble remains multi-sigma yuge. Citi reckons the bubble is just rotating. I can’t say I
The Market Ear on stock dislocations. The bull in fear This much fear with markets so close to ATHs is not your usual market. Source: MacroMicro Who to trust The BTC fade or the NASDAQ squeeze. The gap between these two is very short term wide. Source: LSEG Workspace Stocks vs the economy Citi US
The ABS with the data. In trend terms, in October 2025: unemployment rate remained at 4.4%. participation rate increased to 67.0%. employment increased to 14,678,400. employment to population ratio remained at 64.0%. underemployment rate remained at 5.8%. monthly hours worked increased to 1,993 million. In seasonally adjusted terms, in October 2025: unemployment rate decreased to
In this week’s MB Fund podcast, Nucleus Wealth’s Chief Investment Officer, Damien Klassen, unpacks the latest forecasts for fossil fuel use from the International Energy Agency—why oil demand is set to keep growing under current policies, what that means for coal, oil, and gas investments, and how investors should be positioning their portfolios for the
The Australian Bureau of Statistics (ABS) released its Lending Indicators for the September quarter of 2025, the highlight of which was the record lift in investor mortgage commitments, as charted below by Alex Joiner from IFM Investors: Source: Alex Joiner (IFM Investors)There were 57,624 new investment loans approved in the September quarter of 2025, a
I know a lot of people who matter read these posts. Why nothing gets done escapes me. The LNP has unnecessarily dumped net zero and opened itself up to another climate war. Apparently, its new energy principles will include. The two foundational principles are to create a stable energy grid with affordable power, and reduce
The Simandou iron ore project is nicknamed the “Pilbara killer” because it threatens Australia’s dominance in the global iron ore market, particularly the Pilbara region of Western Australia. This is because Simandou offers massive volumes of higher‑grade ore that could reshape pricing power and supply chains. Simandou in Guinea holds reserves of at least 3
Spinning lies and propaganda is an Australian politician’s modus operandi. The latest example comes from Tim Richardson, Victorian State Labor MP for Mordialloc and Parliamentary Secretary to the Premier of Victoria. On November 11, Richardson tweeted the following propaganda, claiming that “Businesses are smashing it in Victoria!”: Hilariously, Richardson’s Tweet came out the day after
The ferrous complex remains in a state of paralysis as hopeful traders fight a deteriorating reality. Hopes a plenty! Hopes of more stimulus revived after China’s central bank said on Tuesday it would maintain “appropriately loose” monetary policy, keep liquidity ample while improving its policy transmission, as the economy still faces risks and challenges. The
DXY held last night. AIUD lifted anyway. CNY meh. Gold yeh. Are all metals AI now? The chosen one returns. EM meh. Is a downtrend forming in junk? Yields edged up. Stocks edged down. The US isn’t going to publish shutdown CPI or job numbers, straight out of Xi Jinping’s playbook. Helping gold. Credit Agricole