Melbourne’s status as an economic wasteland continues to grow. The latest labour force data from the Australian Bureau of Statistics (ABS), presented below by CBA, shows that Victoria has recorded the steepest rise in unemployment in the nation: Victoria’s trend unemployment rate is also the highest in the nation at 4.7%, sitting well above the
The ferrous jaws are finally closing. Another 3-4% and we will be at some kind of weak equilibrium in steel profits. That is, if steel prices don’t start falling again. And they well might. CISA output for the last ten days of January was poor. The year has started tracking 2019. There was a silver
A blowout in US unemployment claims, a collapse in cryptocurrencies and more unease over the AI uber-bubble added to rise in volatility across risk markets overnight as Wall Street fell back again, taking other markets with it. The USD continued its comeback against most of the majors, particularly the Aussie, Loonie and Kiwi while the
Australia’s 50% capital gains tax (CGT) discount for individuals (introduced in 1999) has come under renewed scrutiny, with a broad coalition calling for reform to ease the housing affordability crisis, bolster the federal budget, and improve intergenerational equity. The push spans economists, think tanks, former regulators, international bodies, the New South Wales Treasurer, and even
Not a good day for precious metals or crypto currencies as Asian share markets also remain in a dour mood after the poor showing on Wall Street overnight. The USD is strengthening again and holding back the Australian dollar which is struggling to get back above the 70 cent level despite a good trade print
As noted many times, Australia enjoyed a few brief sane years of trade diversification when ScoMo stuck COVID up Beijing in 2020 and the nation responded by looking for other markets. Since then, Albo has bent over forwards to restore the same trade vulnerability. Thankfully, he partially failed because the Chinese trade mix has changed,
NDX is threatening to make a mess as recent range breaks down. Charts from TME. The fringe always leads the centre. Enough? SOX socked. So far, it has been software that has crashed, but if semis follow, then the AI story is cracking up. Tech volatility is near range lows unless this is something new.
The Albanese government’s 5% deposit scheme has encouraged many Australian first-home buyers to enter the market. Introduced in October 2025, the First Home Buyer Guarantee program allows eligible buyers to purchase a home with a 5% deposit, with the federal government guaranteeing the remaining 15%. This means buyers avoid paying Lenders Mortgage Insurance (LMI), which
As the full scope of the decline of the Coalition continues to become apparent, elements of the Labor base are revelling in the ongoing political demolition of their longtime rivals. According to the latest polling from RedBridge, the Coalition is polling just 19% for their primary vote, compared with 26% for One Nation. While it’s
The ferrous jaws are closing, though we still need a price nearer to $90 for iron ore for steel enterprises to make sense. With a mild cyclone season so far, price pressure is likely to continue into CNY, which runs from February 16 to February 22. Typically, there is some kind of bounce afterwards before