The Council of Small Business Organisations Australia (COSBOA) launched a campaign on Monday, calling on Labor and the Coalition to lower the company tax rate from 25% to 20% for the 2.6 million businesses with an annual turnover of less than $20 million. Research undertaken by Insightfully for COSBOA found that 69% of voters support
Not that he didn’t hit it earlier, but he is still giving it a pounding. Albert Edwards of Société Générale. The equity market is at a critical level. So too is the wealthier US consumer! Before we kick off, I wanted to highlight what was, from my perspective, the most surprising quote of the week.
Chinese PMIs are meh. Manufacturing is barely growing. Services likewise. All those government bonds are doing something, but it isn’t much. Why? Bloomberg. The property crisis that hobbled China’s economy and created a nearly $160 billion pile of distressed debt — the world’s largest — is getting worse. Signs of trouble are now popping
Via ABS. The February 2025 seasonally adjusted estimate: Rose 0.2% month-on-month. Rose 3.6% compared with February 2024. Is that a trend reversal developing from weak improvement to failing improvement? Barely running at the pace of inflation and adjusted for population growth going backwards in February.
CoreLogic’s March housing results show that rental values are at record highs, having increased a further 0.6% in March. Dwelling rents rose across every capital city in March, led by a 1.2% lift in Hobart, while Melbourne recorded the smallest monthly rent rise, up just 0.3%. The good news is that annual rental growth has
JPM kicks us off. Country-Level: we look at Australia, Japan, and the UK as being relative safety havens. China may work, too, given the potential to add fiscal stimulus but that is a lower conviction long. US Sector Level: Energy and Utilities (ex-AI plays) are the two best longs and look for Lower-Income Discretionary and higher beta
After his recent botching of the Chinese maritime missile tour of Australia’s major cities, Albo is again trumped by the appearance of another hostile Chinese vessel. The Australian. Defence has handed responsibility for the monitoring of a suspected Chinese spy ship to the Australian Border Force despite Anthony Albanese’s claim that the ADF is on
The Australian Energy Market Operator (AEMO) does not mince words. GPG plays a critical function in supporting the reliable and secure operation of the power system. When coal generation and/or renewable generation output is low, it is often the role of gas-powered facilities to increase output to firm available electricity supplies. Analysis from the 2024
The ferrous complex continues to struggle. At issue are steel output cuts. Beijing said it intends to curb steel production in the country due to overcapacity. While there is no official release yet, some steelmakers have voluntarily reduced production in anticipation of the formal announcement, therefore curbing demand for iron ore. Furthermore, worries over demand
Last week’s softer-than-expected monthly inflation gauge from the Australian Bureau of Statistics (ABS) was matched by the Melbourne Institute’s (MI) trimmed mean inflation gauge for March. As illustrated below by Justin Fabo from Antipodean Macro, the seasonally adjusted trimmed mean inflation fell to its lowest level since 2020 on a 3-month average basis. The following