Stocks tried to bounce back from the big falls on Friday following the (over) reaction to the latest COVID variant news, with Asian stock markets continuing to sell off mildly while Wall Street and European futures are upbeat. The USD is taking back positions against a transitory higher Euro while Yen safe haven bidding is
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As expected, the Coalition’s fake housing affordability inquiry is set to shift blame the states by accusing them of restrictive planning and profiteering from rising property taxes: The inquiry chairman, northern beaches federal Liberal MP Jason Falinski, said affordability could be improved over the long-term if the states boosted supply and slashed property charges. Mr
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Analysis conducted by the Australia Institute indicates that $3.9 billion has been allocated under seven federal grants programs since the federal Coalition came to power in 2013, with the programs being ones where ministers had discretion over where money was allocated. Some $2.8 billion, or 71% of the money, has gone to government-held seats, while
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For years MB has lamented how Australia’s public service has been stripped raw by decades of government outsourcing, waves of senior redundancies, and a preference for governments to seek advice from paid consultants. The end result is that the “frank and fearless advice” that the public service was once renowned for has vanished, replaced by
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Has China buckled on Aussie coal? There are some signs that it has done so: Australian miners are increasingly optimistic they may be able to resume selling coal to China, after official data confirmed small volumes of Australian coal cleared the Asian superpower’s borders in October. China imported 2.78 million tonnes of Australian coal in
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Following Infrastructure Minister Barnaby Joyce’ decision last week to reshuffled the board of Infrastructure Australia (IA), appoint former Tamworth mayor Col Murray (from Joyce’s own electorate) as chairman, and direct IA to adopt a greater regional and rural focus, Labor intends to commission an independent review of IA operations if it wins the next federal election.
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ANZ-CoreLogic has released its 2021 housing affordability report, which shows that the barriers to buying a home in Australia has worsened materially following rapacious price growth and a sharp rise in the time taken to save a deposit: The national dwelling value to income ratio reached a record high 7.7 in the June quarter 2021.
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The ABS has just released business indicators data for the September quarter: Of most importance, inventories declined 1.9% over Q3 (versus expected -0.6% and +0.2% in Q2): This came as the Delta strain shut down NSW, Victoria and the ACT. Elsewhere, rising company profits on the back of stimulus was largely offset by falling wages
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TS Lombard with the note: For the PBoC, growth and financial stability concerns trump inflation and worries about monetary policy divergence. The bank’s recently released Q3 monetary policy report indicates a dovish shift and confirms our expectations of sustained policy support for the economy, particularly for the property sector. A 50 bps RRR cut is
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