The pandemic crisis is over:buy stocks! That’s the message from risk markets across the world at the moment, as stocks breakout of their holding patterns and all the short positions are wound back, while rational investors remain on the sidelines. In mainland China, the Shanghai Composite is up nearly 1% to be one or two
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From News: China has slammed claims it backed down and Australia had a victory over the probe into COVID-19 as a “joke”. In the latest diplomatic war of words between the two nations, the Chinese embassy has lashed out at claims it has backed down over the investigation under international pressure. “The draft resolution on
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A few weeks back, Per Capita released a report arguing that the COVID-19 pandemic would be a financial boon for employment agencies that are members of the federal government’s Jobactive program. The think tank’s report suggested that Jobactive agencies would receive at least $210 million in additional service fees based on expectations that an extra
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Callam Pickering, economist at global jobs site Indeed, has updated his Australian job listings data, which shows a continued improvement; albeit from highly depressed levels. As shown in the next chart, new job listings postings on Indeed for seven days or less have doubled since their low: However, they would need to double again to
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The Australian’s Adam Creighton believes that the COVID-19 shutdown will deliver a productivity dividend for Australia: If there’s a serious silver lining to lockdowns it’s that businesses, especially large ones, will become more efficient, freeing up resources. That spells lay-offs, which will be painful for the workers concerned, but ultimately beneficial if they end up
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Last week, it was Victorian Premier Daniel Andrew’s West Gate Tunnel that was facing massive delays and cost blowouts. Sadly, Daniel Andrew’s Metro rail tunnel is facing a similar fate. The consortium involved Metro’s construction is seeking up to $3 billion extra to complete the project, and has threatened to walk away if the government
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The ABS has released its weekly Payroll Jobs and Wages data, which reveals that total payroll jobs fell by 7.3% in the seven weeks from mid-March to early May, with Victoria leading the decline (-8.4%): The next chart shows that jobs (-7.3%) have fallen more sharply than wages (-5.4%): Wages have fallen most sharply in
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Chinese house prices were out yesterday and showed a sudden acceleration, up 0.5% on the month and 5.3% on year: The breadth of price rises expanded to 54 cities: Top tiers lagged: Here’s the raw data: It’s a little odd given sales remain shite: But that’s the rub in China. Monetary easing always ends up
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The Australian Prudential Regulatory Authority (APRA) has updated its data on the Morrison Government’s early release of superannuation policy, which reveals that just under $9 billion of payments have been made on nearly 1.2 million applications at an average payment of $7,242: Looking deeper into the data, we see that industry superannuation funds have dominated
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This morning I was interviewed by Luke Grant on Radio 2GB where I explained how the Australian Government should respond to China’s imposed trade war, as well as how Australian Universities have sold their soul to the Chinese Communist Party in the pursuit of international student dollars.
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