From Bloxo today: Sentiment indicators show a stark gap between businesses and consumers. While surveyed business conditions are around decade-highs and business confidence is well above average, consumer confidence is below average. Importantly, it’s not just a confidence effect – growth in household spending has been sluggish. The main drivers appear to be weak growth
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And now for CBA: Commonwealth Bank recognises the importance of ensuring borrowers can sustain a strong path to property ownership and will be reducing our owner-occupier standard variable rate for those repaying principal and interest. From 7 July, customers paying off the home they live in will benefit from a lower standard variable rate of
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Via the AFR: Westpac Group is set to whack self-managed superannuation fund property investors with tougher rates, policies and processes in the lead up to this weekend’s changes to caps on lucrative tax concessions being imposed by the federal government. The changes will also coincide with the Westpac and subsidiaries, Bank of Melbourne, BankSA, St
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From Citi: The oil bears look to have taken perhaps their final fling as money manager net positioning as a percentage of open interest fell to ~7% and just ~1% above the all-time low in 1Q’16 when oil prices fell below $30/bbl. Money managers have a record level of short positions open on ICE
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First, Market Matters (whoever they are): According to Market Matters analysts it’s not a crazy idea. Miners traditionally outperform during the upcoming period and after considerable pressure there could be a buying opportunity in some mining names. “Locally the market continues to underperform with stocks down by 1 per cent last week versus the US
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By Leith van Onselen The ABS has just released the Census 2016 data, which reveals that Australia’s population ballooned by 1.9 million people (+8.8%) in the five years to 2016, driven by a 1.3 million increase in new migrants. The key data is provided in the below tables: Melbourne’s population surged by an insane 485,200
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By Leith van Onselen A fortnight ago, several labour market experts raised concern about the proliferation of unpaid internships, which risked becoming a black market for slave labour. Today, The ABC has picked up on the theme: Unpaid internships are increasingly becoming the default way of beginning a professional career in Australia. According to the
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By Chris Becker Walk quietly and listen carefully to central bank doublespeak was the name of the game last night on risk markets as most stocks finished in scratch or slightly up mode on each side of the Atlantic. A big dump in the gold price and on e-currencies was the only real action
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Chinese iron ore port inventories are out for last week and we saw another rise of 2.5mt to 141.45mt, a new world record: Proof positive, if any more were needed, that the iron ore glut is so large that the price cannot hold up unless inventories accumulate. And then, of course, there is this: The
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By Leith van Onselen Amid anger within Victoria over the lack of infrastructure funding from Canberra, the Turnbull Government this morning announced that it would provide an additional $500 million in funding for Victoria’s regional rail network. From The Australian: Prime Minister Malcolm Turnbull this morning pledged an extra $500 million of federal funds in
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