Blogotariat

We have warned for months that Australia’s wage growth would stall as historically high net overseas migration collides with the slowing economy. This imbalance between labour supply and demand is best illustrated by the below chart plotting the sharp increase in the number of applicants per job advertisement against Australia’s official unemployment rate: As shown

The post Australia’s wage growth canary croaks appeared first on MacroBusiness.

Overnight saw the release of the latest US ISM services PMI, which came in much softer than expected and led to a drop in the USD and bond yields. Wall Street still lacks confidence to move higher amid some tech wobbles, combined with the softer print sending it down more than 1% across the board,

The post Macro Morning appeared first on MacroBusiness.

The Market Ear with bearish musings. How bullish is tech? NASDAQ is slightly lower than where we traded on February 9… Refinitiv Is this losing steam? NASDAQ remains trading inside the trend channel, but note the last break up has already been reversed, and the high never reached the upper part of the channel. This

The post Mag7 cut down to Mag4 appeared first on MacroBusiness.

DXY was flat last night: AUD fell: North Asia offered little: Oil waltzed lower through OPEC: Dirt meh: Big miners are headed for big retest: EM meh: Junk still OK: US yields were thumped: Stocks got whacked: I do wonder if the following chart is not about to revert to mean: Sometime early this century,

The post Australian dollar takes bite of rotten Apple appeared first on MacroBusiness.

With Jane away for the first half of the week, I found myself with a couple of hours free and Napoleon freshly set free on Apple TV. I was a bit worried that the period costume drama stuff would fry my brain, but I had read that the battle scenes were all marvellously done. So I gave it a spin.

Late last year, BetaShares chief economist, David Bassanese, asked why Australia doesn’t have tighter restrictions on foreigners buying local homes: The article that Bassanese referred to stated: “Wealthy Chinese buyers are taking private jets to Melbourne to purchase mansions in Toorak – the city’s most expensive suburb – on the spot, says Toorak buyer’s agent

The post Chinese buyers drive up house prices appeared first on MacroBusiness.

European Energy, which this year signed a contract to build what will be the biggest solar project on Australia's main grid, says it has reached financial close for its first solar project in the country.

Its a very mixed session for Asian share markets given the lack of a strong lead from Wall Street overnight with the lower USD and volatile bond markets not providing guidance either in the absence of major economic prints. That could change tonight with the latest ISM services PMI but the USD is largely unchanged

The post Macro Afternoon appeared first on MacroBusiness.

RMIT University Media Release   Testing of illicit drugs bought online found 35% were not what they said they were, highlighting the urgent need for more local drug testing facilities in Australia to prevent harm and overdose.   The RMIT-led study analysed 103 illicit drug samples sourced from the now-defunct dark web forum Test4Pay in collaboration…

The post More than 1/3 illicit drugs sold on the dark web contain unexpected substances appeared first on The AIM Network.

Climate Council Media Release THE CLIMATE COUNCIL is sounding the alarm on a severe bleaching event unfolding across the Great Barrier Reef, with new vision showing the damage that stretches more than 1100 kilometres from Lizard Island to the Keppel Islands. Marine heatwaves are bleaching swathes of the Southern Great Barrier reef white, which have…

The post Climate pollution is “cooking” the Reef with law reform needed appeared first on The AIM Network.

The final month of summer was a bumper month for solar, with new monthly records for utility PV generation across the country.

Deal signed for development of a 400 MWh big battery that will be built next to what will be the biggest solar farm in the country.

The “Stats Guy” Simon Kuestenmacher is a renowned immigration shill. For years he has pumped out propaganda supporting a Big Australia. He was up to his old tricks last week, claiming that Australia faces worsening skills shortages unless it maintains historically high net overseas migration. “Let’s start with a quick analysis of how important foreign-born

The post More skills shortage baloney from the ‘stats guy’ appeared first on MacroBusiness.