The notion that international education is an “export” has been completely demolished this week with both industry players, commentators, and the government admitting that international education is really just a conduit for immigration (i.e. people imports). On Monday, The Australian featured International Education Association of Australia CEO Phil Honeywood, who admitted that “the primary focus”
Overnight risk markets were again contained due to some further strong US economic data which saw bond markets selloff while the USD remained sanguine. Wall Street took back its start of week gains and while European markets had solid sessions, futures are indicating a gap lower for most Asian markets today. The Australian dollar remains
Usually, stock market saves run for a few weeks at least. China’s is already out of gas. The Market Ear has more. Just local problems? The China bear is seen as a local problem still. We saw a similar type of reasoning during the 1997 Asian crisis, but local issues went global. Don’t forget that
I have said previously that you should never trust the Grattan Institute on immigration or housing. Why? Because Grattan’s immigration “research” is funded by the pro-Big Australia Scanlon Foundation, which was founded by real estate entrepreneur and rich lister Peter Scanlon: As John Masanauskas of the Herald-Sun explained in 2009 (link no longer active): MAJOR
The Market Ear with more internals. Rates and tech Rates and tech have moved in almost perfect tandem since last summer. Lately, NASDAQ decided decoupling, and has moved higher, despite the fact rates rose from Dec lows. What happens if rates start moving lower again? Refinitiv Spot up, volatility up We have seen SPX and
DXY is going sideways: AUD got a little bid: But won’t go far without North Asia: Any higher for oil and there’ll be trouble: Metals have warmed a bit: Not so miners: Nor EM: But marginal debt is back leading the rally. Bullish! As yields fall: Stocks paused: US JOLTS did not cheer the market:
Evidence is mounting that the RBA has crashed the consumer economy. It’s no wonder, given record mortgage payments, the fixed-rate rest, stalled house prices, a record tax take and cratered disposable income. Yesterday, we saw a shocking retail result for December at -2.7% month on month and 0. 8% year on year. Real volumes are
Everybody knows that Australia is suffering from a severe housing shortage. This is clearly illustrated in the rental market, where the vacancy rate has collapsed to a historic low: It is also clearly illustrated in the next chart, showing that Australia completed only 174,000 homes in the year to September 2023, against a population increase
Asian share markets are still mixed given the reaction to the Evergrande collapse in China with Japanese equities barely moving while local stocks continue to lift slightly higher Wall Street will be looking for more positive momentum on the open while the Australian dollar is holding on to its small advance above the 66 cent
Goldman with the note. Sea freight costs have risen sharply due to Red Sea shipping disruptions, with shipping costs from Asia to Europe rising by 350% and by 100% from Asia to the US. Some commentators and investors worry that these cost increases could meaningfully raise global goods inflation, especially since inflation pressures from post-pandemic