It’s a marvellous spectacle as predictable as the sunrise. When Newspoll collapses, the leaks begin. Labor backbenchers are furious at Albo the Disaster. Labor MPs are pushing for expanded targeted relief for millions more Australians and an overhaul of stage 3 tax cuts due to commence from July 1 next year, amid concerns the government
Bond yields fell back slightly alongside the USD overnight on the back of mixed US economic data and reactions to a slew of Fed speeches, while stock markets coasted through without much volatility. The US Dollar Index is off over 0.4% against the undollars with the Australian dollar surging well above the 66 handle to
The ANZ CoreLogic Housing Affordability Report for November is out and shows that affordability has worsened for prospective buyers, mortgage holders and renters, with worse to come in 2024. Prospective home buyers face a triple whammy of factors conspiring against home ownership. First, rents are rising strongly, which makes saving a deposit more difficult. It
Asian share markets are struggling to post positive returns with the USD coming back slightly after a stumble on Friday night with Wall Street expected to again open a little lower following the wobbly session post the Thanksgiving holiday and absorbing last night’s disappointing home sales data. Oil prices are trying to stabilise with Brent
Goldman with the note via ZH. Are we there yet? Yes. We have less than ~5 trading sessions left of peak flow-of-fund demand for 2023, and then the pain trade moves to the downside, no longer upside. These are the 13 flow-of-funds points on why the market will be choppy, trade sideways, more ups and
By Stephen Wu, economist at CBA: Key Points: Retail trade fell by 0.2% in October, following the solid 0.9% gain in September. There was broad-based weakness with the exception of food retailing. Black Friday will support spend in November. Retail trade fell by 0.2%/mth in October. The result split the difference between our forecast for
For a party that markets itself on safeguarding the environment, the Greens’ silence on the federal government’s mass immigration ‘Big Australia’ policy is breath-taking, given there is nothing more destructive to Australia’s natural environment than extreme population growth. The most recent State of the Environment Report explicitly stated that “most population-driven pressures are considered to
Here’s the chart. No rebound in Chinese property sales and none coming: And the outlook for starts versus floor area under construction: The pace of the decline will be determined by how much public support is offered to complete projects. This is an entirely different outlook versus iMSM drivel: “Basically, sentiment for iron ore next
The Albanese government’s targets of a 43% reduction in carbon emissions by 2030 and ‘net zero’ by 2050 are already looking dead in the water. The climate targets were legislated in one of the first acts of the newly elected Albanese government last year. The 2030 emissions target was based on achieving an 82% renewable
NAB has released its latest edition of its Financial Hardship Report, which reveals that the number of Australians experiencing financial hardship has risen to a survey high 44% (from 36% one year ago): “This increase has occurred against a backdrop of rising inflation (particularly for every day essential such as groceries, petrol, gas, and electricity),