Australian housing construction indicators continue to falter, jeopardising the Albanese government’s fantastical target of building 1.2 million homes over five years. Dwelling approvals, commencements, and completions are each tracking around decade lows, roughly one-third below the government’s target. On Wednesday, the Australian Bureau of Statistics (ABS) released data on the value of construction work done
The Marker Ear reports. Second lower high? NASDAQ continues losing momentum and risks putting in a big second lower high. NASDAQ is trading below the 50 day once again. 100 day is down at 19k. Source: Refinitiv King tech Tech remains king when it comes to sector flows, but is that a “reversal”? Source: JPM
My initial reaction to Wednesday’s monthly CPI inflation indicator was lukewarm, noting that inflation remains sticky for services and non-tradeable items. However, analysis by Stephen Wu at CBA showed that “the disinflationary impulse continued to broaden”. In particular, “the number of items in the CPI basket with annual inflation below 2% continued to rise and
The share market bears are sniffing around the woods although the post close NVIDIA earnings surprise might re-embiggen risk spirits later tonight. Wall Street faltered again as bond markets again lead the risk charge, although it was net no change in yields for US Treasuries despite some big auctions recently. The USD initially firmed against
SHFE and SGX futures flamed out yesterday: Mad Dalian faded overnight: Coking coal too: Scuttlebutt is strange: “The valuation of the ferrous market has recovered a bit thanks to the persistent price rally and futures prices of steel products and iron ore are slightly higher than their counterparts in the spot market,” said Cheng Peng,
DXY bounced off support last night: AUD is hitting resistance: Noth Asia rolled: Oil is in trouble: Metals flamed out: Miners puked: This is not your grandfather’s EM rally: Junk is fine: The curve steepened: Stocks are toying with a nasty double top: NVDA passed the test but it still may not be enough: At
For years, I have called on the federal government to crack down on the international education sector via the following types of reforms: Raise financial barriers to entry (i.e., how much funds a student must have available before arriving in Australia). Significantly increase entrance requirements (e.g. English language proficiency and academic testing). Raise pedagogical standards.
The chief economist at IFM Investors, Alex Joiner, posted the below chart on Twitter (X) showing the massive divergence in household debt between Australia and Canada on the one hand and the United States on the other: As you can see, the United States deleveraged significantly after the Global Financial Crisis, whereas Australia and Canada
Just how dumb are we going to get? If it is up to the AFR, it will vegetable stupid: Headline inflation is expected to fall sharply again in August as more consumers receive $300 federal government energy bill credits, potentially sending headline inflation below 3% and back into the RBA’s target band. But the latest
‘The Road at Eltham’ Walter Withers, 1913 National Gallery of Victoria AUD/USD EUR/USD USD/JPY Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
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