The policy process in Canberra is broken. The government of the day refuses to budge on any national interest reform that threatens vested interests. As the polity grows increasingly agitated due to this inaction, the vested interests realise that their social license to operate is under attack. Over time, it is a risk they cannot
On Wednesday this week, the ABS will finally release a full monthly CPI series that will ultimately replace the quarterly measure. Nowcasting measures suggest inflation is already falling back from the recent energy shock. As we know, the RBA pause has kicked the consumer in the teeth. And other measures are also weakening. Energy has
Wall Street rebounded again on Friday night on renewed hope that the December rate cut maybe in play all due to the comments of Fed NY Chair Williams. This is going to probably lead to a significant lift on Asian share markets this morning, with SPI futures up at least 1% plus increased chances of
The rorting of Australia’s immigration system seems never-ending. In addition to the widespread rorting of the student and working holiday maker program and the blowout in asylum seeker claims and bridging visas, Australia’s partner visa program is also being ruthlessly rorted. In 2018, Dr Bob Birrell from the Australian Population Research Institute and former immigration
The latest batch of auction and home price data suggests that the steam may be coming out of the nation’s housing market following the Reserve Bank of Australia’s (RBA) decision to keep interest rates on hold. Cotality’s auction clearance rates have been moderating since September, which historically has been a leading indicator for price growth.
By Ashwin Clarke, Senior Economist at CBA Wages measured by the Wage Price Index rose by 0.8%/qtr held up by strength in state government enterprise agreements, in line with both our, consensus, and the RBA’s expectations. The annual rate remained at 3.4%. The Minutes of the November Monetary Policy Board meeting highlight the key questions
So much for the consumer recovery. Last week’s Roy Morgan consumer confidence number lifted slightly, but since the RBA held, it has wiped out over a year of gains. The Westpac alternative consumer sentiment measure mysteriously jumped hugely last month. But get ready for the great retracement as its credit card tracker pulls the handbrake.
The 12 months ending 31 October were volatile. But, after all was said and done, our international fund finished up 25%, our Australian fund finished up over 10%. Our tactical growth finished up around 15%. All of our funds look attractive relative to their benchmarks, especially as they were all significantly less volatile than the
International Reading: Top Economist Warns Trump Tariffs Effectively Impose Tax Rate On Low-Income Households That Is Triple Of High-Income Ones – Bezinga ‘China was playing chess while the rest of us were playing checkers’: Bombshell study finds $200 billion of secret loans to U.S. businesses over 25 years – Fortune Low-income Americans being priced out
Not quite a bath of blood on Asian equity markets today but it has been a pretty broad selloff in response to the volatility on Wall Street overnight. Currency land was more sanguine with even the Japanese Yen relatively stable amid a new big stimulus package announced by the Japanese government while local shares hit