Via the ABS comes Construction Work. Seasonally adjusted work done rose 3.3%. Seasonally adjusted work done for the private sector rose 1.4%. Value of work commenced rose 13.6% in original terms. Trend work done rose 1.1%. It’s all gubmint. Mostly transport. That peaks this year (in theory, cost blowouts mean it won’t). This is the
DXY is taking a breather. AUD is ripping into a short-squeeze. But it is wearing CNY concrete boots. Oil is a problem for markets. Dirt meh. Miners soggy bounce. EM likewise. Junk jump. Yield dump. Stocks pump. The US CPI was rocket fuel, as expected. The so-called core consumer price index — which excludes food
The latest US CPI print overnight sent stocks, commodities and undollars higher with Wall Street having its best one day performance in months while European shares also rebounded strongly. The USD fell back against most of the undollars despite the higher CPI print with Euro almost making a new weekly high as Yen advanced while
By Stephen Saunders Regardless of the 2025 election, voters will get a duopoly dinner: environmental and energy sellout, regressive education, unfair taxation, mega migration, and the housing hunger games. In their January election preview, The Australian discerned a deep “ideological schism” between Anthony Albanese and Peter Dutton. Really? Since when? December? Labor talks about a
Asian stock markets are mixed alongside FX markets as we all await tonight’s US CPI print with Wall Street still in hesitation mode amid the LA firs and concerns over the incoming Trump tariffs and other shenanigans. The USD is pulling back slightly against the undollars following an overreaction to Friday night’s NFP print with
Via the Department of Blah. In seasonally adjusted terms, job advertisements decreased by 2.5% (or 5,400 job advertisements) in December 2024 to stand at 214,600. Vacancy numbers continue at elevated levels, with around 25% more advertisements in the labour market presently than compared with the monthly average for 2019. The monthly Vacancy Report includes spotlights
‘Tis rather a big release for the Trump agenda versus markets. Goldman has more. We expect a 0.25% increase in December core CPI (vs. 0.2% consensus), corresponding to a year-over-year rate of 3.27% (vs. 3.3% consensus). We expect a 0.40% increase in December headline CPI (vs. 0.3% consensus), reflecting 0.35% higher food prices and 2.3%
Peter Zeihan nicely sums up Donald Trump’s plans to expand the empire.
The post Trump the Conqueror appeared first on MacroBusiness.
I would have thought it was obvious. His government has done everything in its power to destroy working people’s living standards while pretending to be working class. There’s a line that Prime Minister Anthony Albanese trots out whenever he gets the chance. “My mother raised me with three great faiths,” he says. “The South Sydney
Basically, nobody can afford to pay more. CoreLogic with the report. National rent values rose 0.4% in the December quarter, the smallest Q4 change in rents since 2018. The pace of national rental growth continued to slow in 2024, with rents up 4.8% over the year after surging 8.1% in 2023, according to CoreLogic’s latest