Blogotariat

Earlier this month, I tipped that New Zealand’s housing market was poised for a correction after experiencing record breaking growth of 27.6% 2021, according to CoreLogic: Today, the REINZ released its house price index for December, which recorded a 1.6% monthly decline; although prices were still up 21.5% over the calendar year: The next table

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When Barnaby Joyce regained the leadership of the Nationals in June last year, no-one could have been more happy than his dear friend and supporter, Gina Rinehart. She immediately offered to host a party for him.  Those VIPs lucky enough to secure an invitation to spend an evening with Barnaby and Gina at her palatial…

The reopening of Australia’s international border saw a solid increase in overseas arrivals and departures in November, according to new data published today by the ABS: There were 197,000 overseas arrivals to Australia and 229,000 overseas departures from Australia in December 2021, the highest volumes since international travel restrictions were introduced in March 2020, according

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Ah yes, freedom Morrison Government style. Freedom for mates that is: The shortage of rapid antigen tests for consumers is being exacerbated by state and federal governments and large corporates placing mammoth orders for the kits, causing stock to be diverted from online retailers and pharmacies. Australia is in the middle of a huge Omicron

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From RIO’s freshly minted Dec QTR production report: Iron ore shipments and bauxite production guidance remain subject to weather and market conditions. Our guidance assumes development of the pandemic does not lead to government-imposed restrictions and widespread protracted cases related to new highly contagious variants with high severity, which could result in a significant number

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Treasurer Josh Frydenberg has kicked off the election cycle by scaremongering over Labor’s “class warfare”: “Anthony Albanese has spent his whole career arguing for higher taxes whether it was the retirees tax or the housing tax or the super tax, and a big supporter of the carbon tax and the mining tax”… “Anthony Albanese has

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gouging

Retailers charging “beyond outrageous” prices for rapid antigen tests are being referred to the federal police for investigation, as supply issues continue to hamper Australia’s testing regime.

The ferrous complex fell further on January 17: Chinese data delivered pretty much what I expected. Property starts are in free fall, down 31% in December and at their deepest falls ever on year-on-year in the quarter: There is some offset in infrastructure coming. Pantheon: As with exports, the pivot toward consumption will likely fade

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NSW recorded 29,830 new COVID cases over the past 24 hours alongside 36 deaths: Victoria recorded 20,180 new cases and 22 deaths: Daily cases since the beginning of the Delta waves last winter are plotted below: Active cases across both NSW and Victoria seem to have passed their peak: Hospitalisations are still rising in NSW:

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Anyone with a memory longer than a goldfish will know that the last time Australia was fighting a combined falling commodity price and rising wages outlook was in the late 1980s: The Prices and Incomes Accord was an agreement between the Australian Council of Trade Unions and the Australian Labor Party government of Prime Minister Bob Hawke and Treasurer (later Prime Minister) Paul Keating in 1983. Employers

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Stock markets were relatively buoyant overnight due to the holiday on Wall Street plus the lack of economic releases, although the calendar plays catchup today with the latest BOJ interest rate meeting leading the charge here regionally. With US bond markets closed, there was no impetus there for change with the 10 year yield likely

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