Attention anybody. Australian gas is now comfortably the most expensive anywhere on planet earth: US $2.50Gj Europe $8.70Gj net back. Asia $10.60Gj net back. Australian gas is $11.73Gj. It comes out of the ground for next-to-nothing up the road: Canberra has a spaghetti bowl of existing and possible regulations to fix this in an instant:
CoreLogic has released its preliminary auction results for the weekend, with the preliminary clearance rate soaring across Sydney to its highest level since mid-October 2021 despite the strongest volumes this year: Sydney held 688 auctions this weekend, resulting in a preliminary clearance rate of 81.7%. Melbourne held 961 auctions, with 72.2% selling at auction thus
Oddly, DXY fell after a red hot PPI: The entire market pivoted back to value over growth. AUD pumped: North Asia sleepy: AUD bears have surged on CFTC. Hard for the currency to fall much now: Oil is trending higher. Big trouble here if it rolls on: Dirt popped: Miners too: EM up: EM junk
Sydney’s median house price hit an all-time high of nearly $1.6 million at the end of 2023, according to Domain: At the same time, Sydney’s rents are by far the highest in the nation after experiencing explosive growth since the start of the pandemic: The above represents a ghastly equation for aspiring first home buyers
It is not me saying this. It is Westpac’s Luci Ellis, former Head of Financial Stability and Assistant Governor of Economics at the RBA. First, core inflation measures have not fallen anywhere near as much as headline measures in most countries. Headline series are being flattered by the unwind of the previous surges in food
International Reads: New poll shows it’s the greedflation, stupid. 85 percent blame ‘corporate greed’ as a cause for inflation – Daily Kos Japan unexpectedly slips into recession, Germany now world’s third-biggest economy – Reuters Students lose out as cities and states give billions in property tax breaks to businesses – The Conversation Americans Blame Corporate
Asian share markets are seeing a solid finish to the trading week as overnight risk sentiment continued its positive trajectory despite disappointing macro news on both sides of the Atlantic. The USD is slightly higher after being down against everything overnight while the Australian dollar still can’t make much headway as it climbs slightly above
The past few weeks has seen New Zealand’s interest rate watchers and financial markets swing wildly on interest rates. Last month, when New Zealand’s Q4 CPI inflation came in lower than Reserve Bank projections, economists and markets tipped that the next move in the official cash rate (OCR) would be down. Then New Zealand’s Q4
Below is a detailed interview on The Treasury of Common Sense with Radio 2GB’s Mike Jeffreys. In this episode, we go into great detail about the latest report from the NSW Productivity Commission, which asserts that high housing costs are driving young families out of Sydney and that the solution is to “upzone” the city
Former Treasury Secretary Dr Ken Henry, who published a 1,000-page review of Australia’s tax system in 2010, has urged fundamental tax reform, arguing the current system is an “intergenerational tragedy”. Henry says Australia’s tax system is worse than it was 15 years ago, and young people are paying the price via higher tax burdens (lower