Great piece here from Bloomie: China’s first-quarter 5.3% growth handily beat expectations and Beijing’s own target of “around 5%.” But if you ask households, companies and even the taxman, the reality on the ground feels a lot less rosy. By the end of 2023, only 9.5% saw good job prospects, according to the central bank’s
According to the Department of Home Affairs’ latest temporary visa data, there were a record 713,144 international students in Australia as of the end of February 2024: This is an increase of around 100,000 from the pre-pandemic peak. With Australia’s rental crisis raging out of control, eight peak bodies in the international education sector have
New data from the Australian Securities & Investments Commission (ASIC) shows a big jump in external administrations in March, with 7,742 firms going under in the nine months to 31 March 2024: The following chart from Justin Fabo at Antipodean Macro shows that insolvencies surged in March to their highest number in decades: Construction continues
Brendan Coates from the Grattan Institute was at it again this week, calling on Australia’s major cities to copy Auckland and open up to high-density development: “The core problem when it comes to housing in Melbourne, is that in a lot of the most attractive areas – where people most want to live, with the
The freshly re-elected Lord Mayor of Brisbane Adrian Schrinner has taken aim at the record net permanent and long-term arrivals figures released by the Australian Bureau of Statistics (ABS) on Tuesday. This data showed that Australia recorded the strongest monthly (105,500), quarterly (172,400), and annual (498,300) net permanent and long-term arrivals on record. Adrian Schrinner
The Market Ear on the new trend. That’s new April MTD – down moves bigger than up moves. Haven’t seen this since October 2023. Nomura NASDAQ – say hello to the 100 day NASDAQ is closing in on the 100 day moving average. 17500 is a massive short term support to watch. Note that the
The USD rebounded on more hawkish Fedspeak overnight, with Wall Street still unable to put runs on the board as inflation concerns linger. European stocks moved higher on more dovish speak from the ECB which will give Asian stock markets mixed signals on the open this morning. The Australian dollar retraced back to the 64
The Albanese Government has declared a population war on Australians. It intends to substitute the existing population with cheap foreign labour from the Third World as swiftly as possible. The strategy’s beauty is twofold. It lowers the standards and costs of all public services, and the population accepts it because it is being debased so
DXY won’t go away: AUD is stuck at the bottom of its range: Anyone who thinks CNY is on its way to reserve currency status is not paying attention: Oil faded: But the Goldman-engineered copper scam is running full tilt: Miners weak: EM meh: Junk hope: No landing yields: Stocks are landing instead: Charlie McElligott
The geniuses at the RBA have turned their eye to Chinese steel, and, as usual, the outcome is a disaster: Weakness in the Chinese urban residential construction sector has persisted since 2021, and has significantly reduced the sector’s demand for steel. However, overall demand for steel has remained resilient due to recent growth in infrastructure