Blogotariat

FT has the scoop: The chief executive of Moderna has predicted that existing vaccines will be much less effective at tackling Omicron than earlier strains of Covid-19 and warned it would take months before pharmaceutical companies can manufacture new variant-specific jabs at scale. Stéphane Bancel said the high number of Omicron mutations on the spike

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After a painfully slow start, Australia has become one of the world’s vaccination leaders. Currently, 85.6% of Australia’s population aged 12-plus has received two vaccine doses, with NSW (91.5%) and Victoria (89.9%) leading the way: Victoria is expected to hit 90% vaccination today, with the other jurisdictions expecting to hit that target as follows: QLD

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S&P Global Ratings contends that Victoria will emerge from the pandemic in the weakest financial position of all the states and territories, and will have more than triple the debt it did before the pandemic. S&P tips that the majority of the states and territories will have more than double the debt they did in

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The ABS today released current account data for the September quarter, with Australia’s current account surplus hitting a record high $23.9 billion. The result will contribute 1.0 percentage points to the September quarter GDP, which will be released tomorrow: The current account surplus was driven by a $8.1 billion increase in the balance on goods

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Three takes. First, Mizuho, which has been consistently virus bearish over the past year: Omicron–what we know “Omicron”, as the WHO has classified it, is reported to have a material number of spike protein mutations. It seems likely at this point that this new variant will have spread much more than has already been identified,

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 old WO

The unhinged pursuit of profit is destroying us

CoreLogic has released its daily dwelling values index for 30 November, which shows that values across the five major markets rose by 1.1% over the month – a significant deceleration from earlier this year: Brisbane (2.8%) and Adelaide (2.5%) led growth, with Sydney (0.9%), Melbourne (0.6%) and Perth (0.2%) trailing: Quarterly growth across the five

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Is Chinese property turning Japanese? The answer is “yes”. But there will be differences. Goldman with the note: The Chinese property market experienced a dramatic boom during the 2010s, similar to the housing boom in Japan in the second half of 1980s. In Japan, land prices halved and economic growth ground to a halt during

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The Australian Prudential Regulatory Authority (APRA) yesterday afternoon released its new “more risk-sensitive” bank capital framework, which incentivises banks to lend to lower-risk owner occupiers rather than higher risk investors: The framework, developed over four years of consultation, will help to ensure Australian banks continue to have the financial strength to withstand future adverse economic

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Risk markets recovered some of their nerve after the overreaction on Friday to the new COVID variant breakout, despite Asian share markets still falling on Monday. A higher than expected German CPI print and US pending home sales data also helped risk spirits. European shares and Wall Street lifted more than 1% while bond markets

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