I have argued repeatedly that Australia is facing record net overseas migration (NOM) next year that will dwarf the federal budget’s 235,000 projection: Why? Because the Albanese Government has committed to the largest temporary and permanent migration intakes in this nation’s history via: Raising the permanent non-humanitarian migrant intake by 30,000 to a record high 195,000
Brisbane’s house price correction has hit a new milestone according to CoreLogic’s daily dwelling values index, with prices now down 8% from their mid-June peak: Brisbane prices continue to fall at the fastest pace in the nation, down 5.6% over the quarter: Brisbane housing values soared by 42.7% between August 2020 and June of this
DXY found some footing Friday night: AUD eased: Interesting that the bear market rally has not dislodged speculative shorts: Oil looks ready to break: Base metals are stuck: Miners don’t care: EM stocks are unconvincing: Though EM junk is closing in on crucial levels: The Treasury curve remains mired in a deep red inversion: Stocks
Global Macro / Markets / Investing: Elon Musk to “make an alternative phone” if Google and Apple remove Twitter from their App Stores – Greek City Times U.S. Poised to Grant Chevron License to Pump Oil in Venezuela – WSJ Amazon faces Black Friday protests, strikes in 40 countries – Stripes Tech’s reality check: How
Global Macro / Markets / Investing: Ghana plans to buy oil with gold instead of U.S. dollars – Reuters Mark Zuckerberg enjoys hydrofoil in Hawaii after laying off 11,000 staff and amid resignation rumors – Daily Mail Tesla’s Full Self-Driving Beta now available to all in N. America, Musk says – Reuters New York governor
Heading into Black Friday, Asian stock markets are somewhat mixed due to the lack of open markets in the US and likely thin trading tonight on Wall Street overnight. The USD remains weak against the currency majors but there hasn’t been much movement throughout the session with Euro holding at the 1.04 level while the
Reserve Bank of New Zealand (RBNZ) Governor, Adrian Orr, told Thursday’s parliamentary Finance & Expenditure Committee (FEC) that the Bank was deliberately engineering a recession. Orr was asked what he thought about commentary on Wednesday’s 0.75% official cash rate (OCR) increase suggesting the RBNZ was deliberately engineering a recession. He responded “I think that is
The Workplace Gender Equality Agency’s latest employer survey shows that 71% of respondents now have a formal policy on working from home, compared with just 35% in 2019. The survey also reports 1423 employers have implemented an “all-roles flex” approach, which focuses on output and outcomes rather than hours in the office. Meanwhile, one-third of
Below is Westpac’s analysis on Brisbane’s housing market, which has switched “abruptly from a vigorous boom that was still in full-swing back in Q1 to steep declines in turnover and prices in the second half”. However, while Brisbane’s house price falls are currently leading the nation, Westpac believes values will hold up better over the
The ferrous complex has hardly moved this week: CISA output lifted slightly in mid-November. Inventories rose as well and are high: There’s little evidence that underlying demand is lifting. The current rally is restocking. Seasonal strength is now a tailwind and will continue through Q1 next year. This is being offset by the ongoing global