With the resignation of Gareth Ward this morning, shortly before his expected expulsion from Parliament, a by-election will be needed to replace him in Parliament. The Kiama by-election should happen soon, likely in September.
I won’t be delving into the issues around Ward’s legal situation, or the potential expulsion – the focus here is entirely on the impending by-election.
Australian inflation is rapidly becoming a one-trick pony as energy price hikes devour everything in their path. Various government energy rebates are still having a big effect as they roll off.. After increasing by 16.3% in March, electricity increased by 8.1% in the June quarter. However, because of the second wave of the Commonwealth Energy
I have warned repeatedly that Australia’s labour market has been living in a ‘fool’s paradise’. The nation’s unemployment rate remains historically low at 4.3% and the Reserve Bank of Australia (RBA) expects unemployment to remain at this low level. However, Australia’s labour market is not nearly as rosy as the official unemployment suggests. First, Roy
There has been a clear trend in all Australian elections over the last twenty years of voters moving away from voting on election day, with an increasing number of voters choosing pre-poll voting as an alternative.
Tasmania has lagged behind the rest of the country in moving away from ordinary election-day voting, both at state elections and federal elections, but there was a big drop between last year’s election and this year’s election.
Risk markets were unable to move much overnight as the latest US initial jobless claims came in slightly higher than expected (until revised by Sharpie by the Fanta Fuhrer) while a lot of Fedspeak around the slowing US economy led Wall Street to closed mixed at best. Oil prices pushed lower while the USD was
The post Macro Morning appeared first on MacroBusiness.
DXY was soft. AUD up. CNY is stalled. Gold is signalling Waller cuts! Metals not so much. Big bear tries again. EM hugs the bubble. Junk is lagging badly. Yields did the opposite to gold. The bubble inflates. It looks like a new and dovish Fed chair is front-running. Bloomberg. Federal Reserve Governor Christopher Waller is emerging
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Exorbitant land costs are the primary driver of Australia’s high home prices. According to the Australian Bureau of Statistics (ABS), residential land values, which underpin the housing market, increased by 8.8% between 2023 and 2024, reaching $7.7 trillion. Residential land values increased from 1.1 to 2.9 times Australia’s GDP over 35 years, ending in 2023-24.