A more positive tone is setting in across stock markets in Asia following quite a mixed week so far as we all anticipate the Fed’s next move after tonights latest US inflation print. The ECB is meeting as well but seems to have been factored in, although USD is gaining ground against both Euro and
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CoreLogic released its final auction report for last weekend, with the final clearance rate falling to 70.6% from 73.5% the prior weekend. It was the lowest final auction clearance rate recorded in 2021. As usual, Sydney led the market recording a final clearance rate of 75.6% (down slightly from 76.0%), whereas Melbourne’s final clearance rate
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For months we have witnessed Australia’s hospitality industry whine over labour shortages and lobby the federal government to give it easier access to foreign workers. At the same time the hospitality industry contradictorily called for an extension of JobKeeper and has lobbied to freeze the minimum wage. We are seeing the same shenanigans over the
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NSW has recently flagged plans to replace stamp duty with an annual land tax. But NSW Treasurer Dominic Perrottet contends it will be “tough fiscally” to pursue stamp duty and broader GST reform without the help of the federal government: “It makes sense for them to support [it]. Things can be politically challenging but they don’t
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Last week, the NSW Productivity Commission (PC) released a White Paper explicitly stating that Sydney’s housing shortage was caused by an unexpected boom in Sydney’s population when the federal government threw open the immigration floodgates in 2005: Much evidence suggests that our State, and Sydney in particular, has not delivered enough housing over many years.
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Australia’s personality disordered PM Scott Morrison was approached by Pfizer in July last year and asked how many doses we needed. He said 180k, for himself and a few front-line staff. Then he bought millions of Astra Zeneca and Novavax vaccines instead. From two firms with NO experience producing vaccines, run by a former liberal
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Is the Commonwealth Bank now a tech growth stock? Because it sure ain’t trading like a bank. You know, the boring, slow, reliable dividend growth of a utility. None of that, thanks. Apparently, it’s a 21x forward earnings, massively margined, FAANG or similar. The highest ever over-valuation by a country mile: The other banks are
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In today’s investment podcast (LIVE 12:30pm AEST), MB Fund’s Chief Strategist David Llewellyn Smith, Head of Investments Damien Klassen, and Head of Advice Tim Fuller cover the final in our series of three podcasts on the contrarian view for inflation. This time we look at what to do from an investment perspective. On the agenda:
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I said recently that iron ore was not going to go to $300 unless we saw some new crisis to supply. Either another busted dam in Brazil or nationalist Indian policy or the like. Well, we have a candidate, via Reuters: Regional Labor Department for the southeastern Brazilian state of Minas Gerais says Vale SA’s decomissioned
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This is the final in our series of four posts on the contrarian view for inflation. This time we look at what to do from an investment perspective. The inflation head-fake In part one, we looked at inflation today not being the same as inflation in the 1970s. We looked in particular at issues that caused
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