As Australia continues to shed its industrial base, the US is rebuilding. Morgan Stanley with the note. US Reshoring Momentum Is Outpacing Early Expectations Our US Industrials analysts note that May US manufacturing construction starts sustained the strength seen in April, and activity is tracking at ~2x the pre-Covid run rate. The average project size
As the gas cartel unleashes another energy shock… There is nothing it will not destroy in due course. We can no longer make plastics, nor glass, nor many forms of steel. Soon it will be any and every metal processing as well. AFR. The chief executive of Nyrstar Australia says the metal processor urgently needs
DXY eased lower. AUD higher. Lead boots too. Will gold have another crack? Metals paused. EM meh. Junk rejection. Short end sold on the passage of Trump Big Beautifil Bill. Stocks sold in EOFY. Deutsche says the hiccup in US capital flows is very large indeed. The US trade numbers have been very volatile in
Wall Street took a step back after the US Senate passed the Billionaire Tax Bonus Bill while the Trump regime waved off concerns that not even a single nation has done a trade deal coming up to the July 9th deadline. Meanwhile Fed Chair Powell said they would have cut already if not for those
Some charts from Westpac make the point. After increasing by 0.6% in May, the Cotality house value index increased by 0.6% in June. The current price increase is 2.3% since January, after a minor 0.8% drop at the beginning of the year. At 2.7% annually, growth was somewhat stable. Similar increases were seen in all
The new financial year is seeing some calm return to Asian share markets with Japanese bourses pulling back amid tariff dramas with the Trump regime, while Yen is firming on solid manufacturing data from both China and Japan as we await the US ISM print later tonight. Oil markets continue to steady after their recent
As we know, VIC is the worst-run state in Australia. This is strange given that there is no native industry left to drain talent from the government. But it is what it is. Lowest income growth. Highest debt. And unemployment. Worst business conditions. And, you guessed it, absurd population growth. But don’t get cocky, because
The Market Ear on stocks. Melt-up mode Will this market morph from a traditional bull to a proper melt-up? Yardeni weighs in: “So far, the current bull market looks like a normal one, with the potential to match the returns of some of the best bull markets since the mid-1960s. We are still targeting 6500
Judging by the PMIs, the notion that China is growing at 5% is preposterous. Industry is still shrinking. New orders managed to flop into the positive locally, but are exports are dropping. Services are slightly better but barely moving. With new orders going backwards. Construction is doing a bit better, but is not convincing, either.
On Monday, former Realestate.com.au Director of Economic Research and now independent property analyst Cameron Kusher posted on X (Twitter) that in his view the family home should be included in the pension assets test and that rather than older demographics being provided with additional incentives to downsize, “it’s time for the sticks rather than carrots”.