Shanghai rebar is not well. Iron ore is trying but largely failing: Dalian is likewise weak: Steel mills have destocked coking coal: There’s not much good news coming from China. Goldman: The PBOC governor Pan Gongsheng delivered a speech on Lujiazui Forum in the morning of June 19. The speech discussed China’s current monetary policy
Defenders of mass immigration frequently assert that a decrease in the population per dwelling is the main factor contributing to Australia’s rental crisis. The proliferation of Australians moving into shared housing in order to save money refutes their claim. On Tuesday, The ABC reported the following: More than 350,000 Australians are living as part of
Judo Bank flash PMI has rolled again: Flash Australia Composite PMI Output Index: 50.6 (May: 52.1), 5-month low Flash Australia Services PMI Business Activity Index: 51.0 (May: 52.5), 5-month low Flash Australia Manufacturing PMI Output Index: 47.7 (May: 49.2), 3-month low Flash Australia Manufacturing PMI: 47.5 (May: 49.7), 3-month low Warren Hogan is still glass
For 13 years, this website has tracked the decline and fall of Australian policymaking. We have been astounded at how low politics and policy can go at every turn, but in actuality, this is a reflection of our age. The nation is only occasionally blessed with periods of Presbyterian clarity. The natural state of Australian
Wall Street reopened from its mid week holiday, started with potential but lost ground as hesitation and confidence disappeared with tech stocks leading a mild selloff. European stocks however reengaged to the upside on the lower Euro as the Swiss Central Bank cut rates again while Yen made another multi decade low. The Australian dollar
DXY is firming again: AUD is stuck in the range. Up against EUR: North Asia is woeful: CTAs are pressing another oil head fake: Driving metals: And miners: EM has held support: Junk is threatening breakout: The yield curve steepened: Stocks reversed: The AUD is being hit from all sides by forex: DXY is being
In this week’s Treasury of Common Sense on Radio 2GB, I discussed the NSW State Budget and explained how the federal government’s mass immigration policy is burying the states in debt. Edited Transcript: The New South Wales budget slipped from an expected $2 billion surplus over the next 3 years to an $8.5 billion dollar
HSBC chief economist Paul Bloxham believes that the Reserve Bank of Australia (RBA) will need to see Australia’s unemployment rate rise to 5% before it considers cutting interest rates. “The unemployment rate at the moment has risen from 3.5% to 4% and we think that the unemployment rate will probably have to get up closer
Westpac’s credit card tracker is not improving: The Westpac Card Tracker Index* continues to warn of a renewed weakening in consumer demand. While the index held steady at 132.8 over the first two weeks of June it remains materially below the 136.2 average recorded in the March quarter. If the index continues to hold around current levels
With Wall Street returning from its mid week holiday tonight, risk taking has reduced across most markets with Asian stocks mixed or lower across the region. Local stocks are just holding on to their post RBA hold gains with the Australian dollar still hovering just below the 67 cent level. Oil prices are holding on