Rebar future kept falling yesterday: But Dalian stopped overnight: The latest CISA data is roughly in line with last year but inventories are well down at 15mt, which does not say much for steel mill confidence about the year ahead: Some texture: “Supply from major producers Brazil and Australia so far has hovered at a
The Super Members Council of Australia has released research showing that debt in retirement is increasing. According to the research, more than 40% of workers retire with mortgage debt, up from 16% 20 years ago. Moreover, 40% of singles and 33% of couples will use their whole nest egg to pay off their debts. AMP
While there are still a range of court cases outstanding, Trump is leading most polls for the next president. Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and Chief Strategist, David Llewellyn-Smith, look at the legal issues and the potential outcomes, the likelihood of a Trump re-election and what
While there are still a range of court cases outstanding, Trump is leading most polls for the next president. Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and Chief Strategist, David Llewellyn-Smith, look at the legal issues and the potential outcomes, the likelihood of a Trump re-election and what
Asian share markets are in diverging in sentiment with Chinese stocks soaring higher while Japanese and local stocks follow the poor lead from Wall Street tonight with mild losses. The USD is failing its fightback against most of the major currency pairs, while the Australian dollar is pushing higher above the 65 cent level to
Private colleges in Australia are reportedly blocking applications from students in India, Pakistan, Nigeria and other countries as part of an “unprecedented reaction” to the government’s visa crackdowns. I discussed this and other issues in an interview conducted with Sky News’ Danica De Giorgio, which was aired on Tuesday night. Below are the highlights of
The RBA minutes yesterday were another crack smoking laigh out loud affair. There was some acknowledgement of recent economic weakness: Members observed that inflation in Australia had moderated, with both headline and underlying inflation lower in the December quarter 2023 than had been expected three months prior. Core goods price inflation had declined faster than
The Australian Bureau of Statistics (ABS) released the wage price index for the December quarter, with nominal wages rising by 0.9% over the quarter (in line with economists’ expectations) to be 4.2% higher year-on-year: Annual nominal real wage growth is now running at its highest level since March 2009. The ABS noted that wage growth
The latest Australian national accounts from the Australian Bureau of Statistics (ABS) showed that real household disposable income per capita collapsed by around 6% in the year to September 2023 to be tracking at around 2012 levels: The AFR’s Michael Read has compared Australia’s fall in real household disposable income against other nations in the
On Thursday, I was interviewed by David Flint on ADH TV where I picked apart the latest report from the NSW Productivity Commission blaming a ‘lack of supply’ for Sydney’s housing crisis: Below are key highlights from the interview, along with key charts. Edited Transcript: The NSW Productivity Commission released a report where they lamented