Please note this is the last Macro Morning/Afternoon report for a month or so as I’m off on holiday – good luck, markets always get juicy when I’m away! Markets are ignoring macro risks, geo-political risks, monetary risks – all the risks – and focusing on the fact that the US Federal Reserve will cut
When you make race the issue, everything falls apart. Children are to learn about colonisation. Victorian children as young as four will learn the state’s history from the start of colonisation as described in the Truth be Told report of the Yoorrook Justice Commission, the official public record of the truth-telling hearings held from 2022
The Financial Review property summit was held last week, which contained the usual bluster on the need to lift Australia’s housing supply to meet demand. The summit heaped praise on housing minister Clare O’Neil for the urgency she has brought to the portfolio. “I think Clare O’Neil is one of the most activist ministers in
Asian share markets are stumbling around with a variety of macro pressures overshadowing the broad gains on Wall Street and European markets overnight. Meanwhile the fall in business confidence in Australia and the slightly higher dollar is seeing local shares selloff again. The Australian dollar has now burst through the 65 cent level as the
Last week, the Albanese government announced that Australia’s permanent migrant intake would be maintained at the historically high level of 185,000. William Burke, founder of Sustainable Australia Party, argues that the permanent migrant intake is understated by at least 50,000 for the following reasons: “It does not count the annual permanent Humanitarian Program of around
DXY is looking decidedly ill. AUD is rampaging again. CNY is up. Gold is up. Oil is down. Metals meh. Mining bear intact. EM to the moon. Junk fine. Major US yield breakdown across the curve. Stock ATH. Not much doubting what’s going on here. The Fed is coming, and its independence might be going,
I am bullish but not a buyer here. The Market Ear. “Overboughter” Gold continues exploding higher post the powerful break out of the triangle formation. Note RSI has been marginally higher once since “forever”. Source: LSEG Workspac Zooming out Gold weekly RSI at very overbought levels, but we have seen the shiny metal go into
The thing about being a groveller is that you invite being bullied. China has accused Australia and Japan of prvoking tensions in the Asia-Pacific region after their foreign and defence ministers met in Tokyo days after Beijing staged its largest military parade in decades. In an editorial on Monday, the state-run China Daily said the
Seriously, who would want to be a renter in Australia? After borders reopened in late 2021 and temporary migrants flooded into Australia in record volumes, rents surged. At the end of 2024, Cotality (now CoreLogic) estimated that rental payments were chewing up a record share of household income. Cotality’s latest Quarterly Rental Review estimated that
The Westpac credit card tracker is better but not much. During the second part of August, the Tracker Index increased by almost 1 point to close the month at 138.5, which is near the upper end of the range that has been in place since April. The quarterly increase remains slow. Base effects from weather