Sydney’s housing market is losing momentum. CoreLogic’s daily dwelling values index shows that Sydney recorded only a 0.1% rise in the past 28 days, the softest result across the five main capital city markets. Sydney’s 0.1% rise in values compares to 0.6% growth in Melbourne, 0.3% in Brisbane, 0.7% in Adelaide, 0.3% in Perth, and
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SGX and rebar futures have firmed a little. The Chinese ferrous PPI is weak, down 0.5% in April and 10% year on year. This will intensify as tariffs land. Goldman has downgraded China. On April 9th, President Trump announced a further increase in the tariff rate on imports from China to 125%, following the Chinese
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Ukraine’s commander-in-chief, Aleksandr Syrsky, has said Kiev must mobilize 30,000 soldiers every month to sustain resistance against the Russian army. He also highlighted the growing disparity between the military capabilities of the two countries.
It’s time to acknowledge that the dream of ‘net zero’ emissions is dead. The world’s top three carbon emitters are China (31.5% of total), the United States (13.0% of total), and India (8.1% of total). In 2023, these three countries accounted for more over half (52.6%) of global carbon emissions. As shown above, China and
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This is not what a central bank governor should say as the world falls apart. Inevitably, there will be a period of uncertainty and adjustment as countries respond to the ongoing tariff announcements by the United States administration. It will take some time to see how all of this plays out and the added unpredictability
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10:00 – Hello and welcome. I’m going to be using this live blog to cover the declaration of nominations today.
At midday local time in each part of Australia, ballot draws will be conducted for the House of Representatives and the Senate. Nominations closed yesterday, but we don’t yet know who made the final cut. At the declaration, those names will be announced, each candidate will have a ball assigned to them in a lottery device, and then those balls will be drawn out.
Justin Fabo from Antipodean Macro published intriguing charts showing the sharp decline in consumer inflation expectations. The following chart shows that the long-running monthly Melbourne Institute measure of consumer inflation expectations has fallen to the long-run (1995–2019) average on a quarterly basis. The same holds for consumer inflation expectations two years from now. Justin Fabo
The Market Ear on historical movements in safe havens. Safe? US 30 year closing at another new recent high…and the dollar moving in the totally opposite direction. Big stuff going on under the surface. How safe is safe? Refinitiv VXTLT “Unstoppable”…and possibly even more important watching the VXTLT than the VIX at the moment. Refinitiv
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The short covering rally on Wall Street quickly reversed as the insider traders made their profits while the rest of the risk complex gravely worked out that the end is still coming, 90 day stay of execution or not. The USD was shot down with its weakest one day performance in three years with a
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US Democratic Senator Adam Schiff has called on Congress to investigate President Donald Trump for possible insider trading and market manipulation following his abrupt trade policy U-turn. Global stocks soared after the president paused the imposition of tariffs on a multitude of countries this week.
