The latest House Income and Labour Dynamics in Australia (HILDA) survey, conducted by the University of Melbourne and the Melbourne Institute, showed an increasing wealth disparity throughout the country. As illustrated below, older Australians’ wealth increased the most over the past 20 years. Australians aged 75 and over experienced by far the largest percentage increase
DXY is through the trapdoor. EUR to the moon. Even so, ‘risk off’ hit AUD. Lead boots are walking to Mar-A-Lago. Golden rocket. Oil abortion. The world does not need Goldman’s copper play Playing copper via diversified miners is stupid. EM meh. We need much more pain in junk. Yields eased. New inversion deepened. Stocks
As Trump waited an hour to speak to his Russian handlers overnight, news of more tariffs coming April plus some lackllustre results in tech stocks (while Tesla’s burn everywhere) sent Wall Street lower while European stocks continue to outperform. Meanwhile the USD slipped further against Euro and Pound Sterling while building against Yen in anticipation
The Market Ear on the roaring bear. Hitting the head in the trend line SPX’s short term negative trend line remains intact for now. We need to break above this to have a clear technical signal. Source: Refinitiv No de-gross Hedge fund current peak to trough de-gross still not extreme compared to August and December
Global energy analysts Doomberg published a stinging critique of Australia’s energy policy, entitled Power Blunder Down Under. “The country is hurtling toward a pronounced energy crisis, yet its political leaders seem deaf to the warnings and blind to its true causes”, Doomberg reported. “Having demonized traditional sources of energy, Australia is now all but certain
The Guardian’s Peter Mares penned a spurious article claiming that building smaller homes would boost Australia’s productivity. Walking past a building site in Sydney recently, I was struck by the pitch for the new homes under construction. “Outrageously spacious”, proclaimed a hoarding spruiking apartments with “2 living areas, 2 dining areas, 3 car parks, 4
Another positive day for stock markets here in Asia as risk switches back to on following the big rebound on Wall Street from Friday night although local stocks struggled to make headway. The USD is trying to fight back as it remains weak against Euro and Pound Sterling although is pushing higher against Yen this
Two opinion polls have been released showing that the Albanese government has experienced a resurgence in the polls. Roy Morgan’s latest polling shows that Labor increased its two-party preferred lead on the Coalition to 54.5% to 45.5% after Cyclone Alfred and President Trump put tariffs on Australia. Roy Morgan stated that if a Federal Election
Deutsche with the note. How much further can the selloff go? Viewing the selloff through the lens of equity positioning, from the post-election peak in December near the top of its long-run historical band (0.77, 92nd percentile), positioning has been cut sharply, but only to modestly underweight levels (z score -0.36, 26th percentile). Discretionary positioning has fallen
As we know, energy ministers have kicked a decision on whether or not to take up Victoria’s insane proposal to publically underwrite LNG imports until July. To give you some idea of how crazy this idea is, I have made the following chart which compares an average East Coast gas price with LNG imports according