It is a laugh a minute now for the politico-housing complex. First up the RBA, which “economists” say was actually bullish last week: Economists believe the market misinterpreted comments by Reserve Bank of Australia deputy governor Guy Debelle, whose speech on Thursday was received as dovish but in fact was “frank” and consistent in substance
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It is a laugh a minute now for the politico-housing complex. First up the RBA, which “economists” say was actually bullish last week: Economists believe the market misinterpreted comments by Reserve Bank of Australia deputy governor Guy Debelle, whose speech on Thursday was received as dovish but in fact was “frank” and consistent in substance
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By Leith van Onselen Yesterday, the Sydney housing market hit an important milestone, recording a peak-to-trough decline of 10% after falling for 17 consecutive months: Already, this is the second worst housing correction experienced in Sydney over the past 40 years: It is also happening at a much faster rate than Perth’s housing correction, which
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By Leith van Onselen I noted last week how the Scanlon Foundation’s mouthpiece, professor Andrew Markus, rubbished most recent opinion polling, from a variety of sources, supporting lower immigration into Australia, including: Australian Population Research Institute: 54% want lower immigration; Newspoll: 56% want lower immigration; Essential: 54% believe Australia’s population is growing too fast and
I put it to you that this is one major reason why Sydney property is crashing and Melbourne trailing it down. From Domain: Foreigners are again making an impression on Sydney’s trophy home market but it isn’t the purchase of high-end mansions and penthouses keeping agents busy. It’s all about selling the Sydney home. Experts
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CoreLogic released its auction report yesterday, which reported another pathetically weak round of auctions, with auction clearances remaining near 2011 lows. The preliminary national auction clearance rate was just 45.3% versus 47.0% last weekend (later revised down to 41.3%). The preliminary clearance rate was also way below the 59.5% recorded in the same weekend of
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DXY was soft Friday night. EUR and CNY strong: AUD was hammered across DMs: EMs were mixed: Gold broke higher: Oil tried on a robust OPEC deal but couldn’t: Base metals were soft: Big miners down: EM stocks too: And junk: Treasuries were bid bigly: Not bunds: Stocks slumped again: US jobs were pure Goldilocks:
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Dick Wakelin capitulates today: Sydney and Melbourne prices are likely to drift downwards in the first three to six months. That forecast is based on continued lending tightness by the banks until the dust settles after the publication of the final royal commission report in February and a general skittishness of participants. The downward trajectory
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China release trade and inflation data over the weekend and both showed it is slowing sharply. For trade, exports were 5.4% year on year and imports 3.0%, both large misses to expectations. The trade deficit is still large at $44.7bn: Inflation was also concerning. The CPI decelerated sharply: Aided by petrol: And the PPI slumped
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Global Macro / Markets / Investing: Trump Is Gripped by Market Volatility—And His Role in It – WSJ Trump is reportedly ’glued’ to the stock market’s fluctuations and worried he’s causing them – CNBC Trump’s trade war has cost the S&P 10% this year, JP Morgan estimates – CNBC The Planet Has Seen Sudden Warming
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