Nick Reece, Melbourne’s Lord Mayor and prominent promoter of mass immigration, believes he has the solution to the city’s housing crisis and failing economy: more migrants and international students. Late last year, Reece announced that he was actively canvassing Chinese and Indian companies to open headquarters in Melbourne, citing the city’s large Indian and Chinese
DXY is hanging on again. AUD is still grinding up but failing to launch Leads boots are climbing Gold and oil shaky. Metals no bueno. EM meh. Junk all clear. Yields eased. Stocks eased. It is a strange new world in which both DXY and AUD are heavily shorted so both may climb at any
The release of a set of “real” FOMC minutes sent Wall Street lower overnight as the Fed reiterated its fears about a US recession in the wake of the Trump regime’s tariffs, even with all the TACO drippings that seem to follow each new threat and bluster. The real effect on isolation of the US
The following chart from Alex Joiner from IFM Investors shows how average Australian mortgage sizes have chased home prices higher. There is an element of ‘chicken and egg’ on display here. Higher home prices require borrowers to take out larger mortgages, whereas people taking out bigger mortgages bid prices higher. Higher home prices combined with
In the early 2000s, the federal Labor government made the disastrous decision to allow the export of liquefied natural gas (LNG) from Queensland without forcing gas companies to first supply Australians. Gary Grey, the then-Federal Resources Minister under the Gillard/Rudd Labor governments, argued that domestic gas reserve policies create uncertainty and discourage investment, pitting the
A couple of comments from the BOJ over the Japanese bond market and the ongoing trade war with the US didn’t upset most risk markets in Asia as they move in correlation with a resurgent Wall Street. The latest local inflation figures came in a little hotter than expected but this was overshadowed somewhat by
The Market Ear looks at the hated rally. Intact SPX’s steep trend channel since April panic lows remains intact. So far a perfect bounce on the lower part of the trend channel and the 21 day moving average. Support 5800, resistance 6000. Source: LSEG Workspace Missing even more Non dealers reduced the US equity futures
More yawnulus please. Sales pancaked. Inventory a bit better. Completions down, down. It really doesn’t matter how much floor area developers sell, the enormous shadow inventory or unsold, empty, furloughed, half-built, half-dug apartments won’t run out for another 10k years. Iron ore demand to keep falling.
The May federal budget forecast that Australia’s population would grow by 1.25% on average over the four-year forward estimates, with the nation projected to add 1.4 million residents in the four years to 2029: In the four years to 2028-29, Victoria’s population is projected to grow by 1.46% annually, adding 426,000. The Victorian government’s latest
The ferrous complex is going over a cliff of some sort led by steel. Iron ore will inevitably follow. The question is why and how far? It is right about now we would expect the initial round of tariff wars to making its way upstream in a demand deficit bubble. As well, property continues to