Australia is already experiencing a prolonged per capita recession. As illustrated in the following chart, Australia’s per capita GDP has fallen for five consecutive quarters and six times in the last seven quarters: Next week, the Australian Bureau of Statistics (ABS) will release the Q2 national accounts, which will show that per capita GDP fell
The Market Ear on scary seasonality. The upcoming buyback fade In markets it is always about the “change”…and this bid is going to fade soon. There is $6.62B worth of daily purchasing power until the closed window (where it normally gets cut in half or even more). Blackout starts on the 13th, which is only
Anybody with half a brain would recognise that lowering international student numbers (and migration generally) will alleviate the rental crisis. The correlation between the surge in international students and temporary migration is obvious. Temporary visa numbers in Australia have surged by around 400,000 higher than the pre-pandemic peak, as illustrated in the next chart from
SHFE and SGX fuutres are opening a new set of jaws: Given steel mills are already losing money, this only increases the likelihood of further shut-ins and reduced iron ore demand. Dalian is looking toppy and coking coal has rolled: The Angry Dragon is not happy: “The current rise in iron ore prices lacks fundamental
There’s a great piece at Bloomberg today on how Japan is destroying Australia using our own gas against us: Every six hours, somewhere in the world, a shipment of liquefied natural gas controlled by a Japanese company leaves a port. The vessels — giant, floating thermoses that keep the fuel super-chilled — cross the globe,
The USD saw a surge overnight due to a better than expected initial jobless print but also a revision in US 2nd quarter GDP but it didn’t stick completely against all the majors as it faded towards the end of the session. This kept Wall Street on edge while European markets took benefit from the
The Australian Energy Market Operator has released new forecasts regarding electricity supply and demand over the next decade. AEMO says that a slower uptake of battery-electric vehicles is set to reduce pressure on the electricity grid. In December, AEMO forecast that seven million electric vehicles would be sold over the next ten years, but it
On 12 December 2023, Victorian Premier Jacinta Allan ignored expert advice and signed the first tunnelling contract to build the $200 billion, 90-kilometre Suburban Rail Loop (SRL) to nowhere. “We are full steam ahead with the Suburban Rail Loop – by 2026, tunnel boring machines will be in the ground and Victorians will be hard
Yarra Capital Management chief economist Tim Toohey warned that the $300 billion in extra savings accumulated during the pandemic may have run out, curtailing household spending. Toohey estimates that households probably spent the last of their pandemic-era buffers around March 2024, as younger consumers struggling with cost-of-living pressures pulled back on saving to pay for essentials.
Unbeknownst to all of Australia, the Australia Energy Market Operator (AEMO) has its finger on the answer to everything: Favorable weather conditions toward the end of winter and reduced gas generation demand have allowed Iona to start refilling its storage capacity. Iona inventory is currently sitting at 44% or 10,736 TJ, while Newcastle LNG is