With Chinese stocks closed for the week there weren’t many catalysts in the region today with local stocks slumping in the wake of poorer than expected retail sales while risk markets overall reacted to the Israeli invasion of Lebanon. The USD remained somewhat strong from its overnight little surge but the Australian dollar is holding
The post Macro Afternoon appeared first on MacroBusiness.
By Jane Salmon Long-term refugees and asylum seekers at the 24/7 vigils for permanent visas around the nation have received injuries, bashings, threats, flag and sign theft at the hands of neo Nazis, nationalists and hate-filled Anglo citizens. Red-neck Aussie bogans can be terrorists, too. The Dandenong vigil outside the office of Julian Hill…
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With the federal election due by May 2025, all polling suggests that we are headed for a hung parliament. Roy Morgan believes that the result would be “too close to call.” Preferences would determine which party forms government, with the support of minor parties and independents. “If preferences are distributed by what voters tell us
The Reserve Bank of Australia (RBA) released its half-yearly Financial Stability Review (FSR), which noted that around one-in-20 Australian borrowers have a cashflow shortfall: “In addition to cutting back their spending to mostly essential items and trading down in quality for some goods and services, these households have had to make other difficult adjustments to
Nature, noise, rehab: Queensland tightens wind farm planning rules in renewables regulation overhaul
Newspoll with the analysis. Labor’s primary vote has fallen to 30 per cent in NSW, marking a historical low with a swing against the Albanese government potentially enough to cost it three to four seats in the largest state alone. An exclusive demographic and state by state Newspoll analysis shows Labor facing a partial rebellion
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You won’t see another short squeeze this violent for a very long time. The Market Ear. Beyond parabolic The CSI 300 is up some 27% from recent lows. We have a hard time remembering when an index went from trading way below the 200 day moving average, to way above it. Beyond impressive. Refinitiv 40%
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The Albanese government delivered a second consecutive budget surplus, as illustrated below by Justin Fabo at Antipodean Macro: The underlying cash budget balance recorded a surplus of $15.8 billion (0.6% of GDP) in 2023-24, which was larger than forecast in the May Budget. Massive personal tax receipts from the rapidly expanding labour market (read: immigration)
The Australian Bureau of Statistics (ABS) has released retail sales data for August, which jumped by a strong 0.7% over the month to be 3.1% higher year-on-year: The result smashed economists’ expectations of a 0.4% monthly increase. As shown in the table above, the rise was driven by durable goods sales, which increased by 0.8%