In the early 2010s, the federal Labor government made the ill-fated decision to allow liquefied natural gas (LNG) exports from Queensland without requiring gas companies to first supply Australians. Gary Grey, the then-Federal Resources Minister under the Gillard/Rudd Labor governments, claimed that domestic gas reservation would cause uncertainty and discourage investment, placing the government against
Wall Street and other risk markets are drifting into holiday mode which means not a lot of selling and small gains here and there although silver and gold are making record highs while the USD is getting sold down the river. Defense stocks helped Wall Street overnight while Yen stabilised somewhat after a big move
Justin Fabo from Antipodean Macro posted the following chart showing that Australians are paying some of the highest mortgage rates in the developed world. Following three 25 bp rate cuts from the Reserve Bank of Australia (RBA), the weighted-average interest rate on outstanding housing loans in Australia has declined by 69 bps from the peak
From the Market Ear: Waiting SPX remains stuck inside the range that has been in place since mid-September. We aren’t getting too excited until we break out, either way. Also stuck NASDAQ continues trading the boring range that has been in place for months. Short term range support: 25000, resistance 26000. Big range support: 24000,
Alex Joiner from IFM Investors published the following chart on Twitter (X) last week, showing the explosive growth in Australia’s net overseas migration (NOM), particularly since the end of the Covid-19 pandemic. Joiner noted that as of Q4 2000, it had taken 12 years of NOM to add 1,000,000 people to the population. As of
A sea of green across Asian share markets as we head into the low volume Christmas period with a solid finish on Wall Street on Friday night flowing through to the regions risk markets overall. The Australian dollar is bouncing back on a slightly weaker USD with a breakout above the 66 cent level. Oil
New Zealand house prices continue to fall. The REINZ House Price Index fell 0.3% over the past two months (seasonally adjusted), with economists describing the result as “renewed weakness” after a brief stabilisation earlier in the year. Compared to May, house prices are down by more than 1.2%. Home sales were weak in November, declining
It is better late than never, but the Albanese government has finally announced a domestic gas reservation scheme for the East Coast of Australia. Under the plan, Australia’s largest exporters would set aside up to 25% of annual east coast gas production for domestic use. Climate Change and Energy Minister Chris Bowen said Australians “should
By Stephen Saunders: On its triennial immigration stats, Albanese Australia is a radical outlier not the cautious reformer of embedded media narratives. Not even Bondi can budge him. The Labor-Liberal duopoly has made the concept of Big Australia central to its economic policy. After COVID froze mass migration, Morrison and Albanese rushed it back, bigger than
On the day after the 2016 U.S. presidential election, the American left was thoroughly stunned; it had lost the race for the White House to a figure that many believed to be thoroughly unelectable. That morning, author and political activist Michael Moore appeared on CNBC’s breakfast show ‘Morning Joe’. What followed was a strange but