Is it any wonder? Hopeless government. Mad immigration-led economic model that systematically impoverishes. No conversation about anything that matters. Westpac with the note. Westpac Consumer Sentiment Index down 2.4% to 82.4. The pessimism that has dominated the consumer mood for nearly two years now is still showing few signs of lifting. The latest Index read
International students have been the driving force behind Australia’s record net overseas migration boom: The latest temporary visa data from the Department of Home Affairs shows that there were a record 713,144 international students in Australia at the end of February 2024: This record surge in net overseas migration has more than halved Australia’s rental
The Market Ear with its “perfect storm”. Trend please NASDAQ is up 1.3% from mid February highs. Tech needs a new trend. Refinitiv “Weird” VIX VIX was very well bid last week as the stress from Thursday was present into Friday as well, despite the market bouncing. Today, we are seeing VIX down, not your
Iron ore went nuts yesterday, as it is want to do on the Dalian exchange: Coking coal was a less volatile partner: There was zero support from Chinese steel futures but SGX joined in: There was some data to excite the uninitiated. CISA late March steel output climbed. But it remains well down year on
DXY is doing nothing: AUS has spent a few days ripping into “no landing” excitement but is technically stuck in a neutral wedge: No support from North Asia: Oil dipped and ripped. Gold bubble inflating: Along with base metals: Goldman got miners with a well-timed dead cat upgrade: EM still considering higher: Junk BTFD: But
Wall Street was unable to translate its big boost from Friday night with the higher oil prices keeping risk sentiment in check. Most undollars finished the session higher with the Australian dollar breaking out above the 66 cent level. 10 year Treasury yields made a new high for 2024 above the 4.4% level while Brent
Seek has released its preliminary job ads report for March, which includes both good and bad news. Job ads rose by 2.4% in March, meaning they have tread water since December. On the other hand, the number of applicants per job ad continued to rise, up 1.7% in February (latest available data), to be tracking
Last week’s dwelling approvals data from the Australian Bureau of Statistics (ABS) showed that the nation approved only 12,400 homes for construction in February in trend terms: This was the worst monthly result since April 2012 and represents a run rate around 40% below the Albanese government’s 1.2 million housing target, which requires 20,000 homes
A mixed start to the trading week here in Asia following the US jobs report on Friday night which came in hotter than expected and caused Wall Street to spike higher. This hasn’t translated into gains on Asian share markets today however with some pushback on USD as well, with the Australian dollar for instance
Lord Charlton and Lady Pharcus need your help: Labor’s replacement treasurer Andrew Charlton (kidding, Jim) has found himself bereft of a tenant in one of the many luxury homes that he and barrister wife Phoebe Arcus own in their property portfolio. The going rate is $2250 per week for their empty $5m-plus terrace in Woollahra;