Chris Joye, a portfolio manager with Coolabah Capital, recently wrote an article in the Australian Financial Review arguing that the expansion of government spending was placing upward pressure on inflation and, by extension, interest rates. “At the federal level, the annualised monthly trend budget deficit has deteriorated rapidly from $12 billion in December 2024 to
More evidence today of China’s Great Depression. The PBoC January survey is a doozy. Goldman adjusts these figures seasonally. Loan approval: 53.4 in Q4 2025 compared to 53.8 in Q3 2025; loan demand: 56.1 in Q4 2025 versus 57.7 in Q3 2025 Sentiment toward monetary policy for the upcoming quarter: 71.5 in Q4 2025 compared
In this week’s podcast, Nucleus Wealth’s Chief Investment Officer, Damien Klassen, is joined by David Llewelyn-Smith of MacroBusiness to examine the latest slide in the U.S. dollar—unpacking whether this is just a short-term pullback or an early sign the broader USD tide is turning, and what a sustained shift could mean for global markets and
By Stephen Saunders Anthony Albanese’s responses to Bondi hew to a script. Unpopular mass migration must continue—at any cost. Citizens must be socially “cohesive”—or else we’re racist. Less than 24 hours after Bondi’s studied sectarian slaughter—a ghastly new “landmark” for Australia—Prime Minister Anthony Albanese and his press gallery chooks had already agreed to a
A previously undisclosed $57 billion deterioration in the federal budget outlook has emerged since the election, driven mainly by higher long‑term spending under the Albanese government. The blowout means the budget is no longer expected to return to surplus within the next decade. Analysis by the office of shadow treasurer Ted O’Brien, independently verified by
Do we need LNG import termimals? In a common-sense world, we clearly don’t need them. We’ve got plenty of cheap gas at home. So, why are we still debating them? Gas producers in the south-east are voicing strong concerns about the plan to give the Australian Energy Market Operator the ability to underwrite new supply
I noted on Wednesday that Australia is facing surging energy demand driven by a combination of extreme population growth and the build-out of data centres driven by AI, cloud, and hyperscale investment. First, Australia’s population is officially projected by the Centre for Population to balloon by 13.4 million people (nearly 50%) by 2065–66, adding roughly
The ferrous jaws must close! SMM wraps it nicely. Today, iron ore futures were in the doldrums. Traders quoted actively, while steel mills purchased as needed and inquired cautiously, resulting in a slightly subdued overall trading atmosphere. This week’s SMM pig iron production survey showed that China’s average daily hot metal output reached 2.3492 million
The dark wish of every Beltway lunatic of the past fifty years is about to come true. All together now… Anarcho-imperialism marches on. President Donald Trump warned Iran to make a nuclear deal with the US or face military strikes, increasing pressure on the regime and propelling oil prices higher. Iran said it stands ready
Nothing much to move markets overnight except a looming war in Iran and a pause in the continued structural decline of the USD with both the Fed and Bank of Canada holding interest rates with ECB officials broadcasting a similar sentiment. A small bounceback in USD wasa not across the board however as the Australian