Goldman has an amusing take on the Shenzhen property market, once the hottest in China. Policy environment:The expert was relatively cautious regarding policy environment in Shenzhen. The expert highlighted that easing measures that have been introduced so far, such as HPR relaxation and mortgage rate cuts, have had limited effects and failed to effectively boost
The Market Ear with more. Perfection prevails NASDAQ continues to trade perfectly within the trend channel that’s held since May. Buying dips near the channel lows and the 50-day has remained a simple and profitable strategy. The hammer candle we flagged over the weekend (here) looks powerful and confirms the setup. Source: LSEG Workspace More
The ferrous complex is weakening fast, as it should. Streel production has been slashed, but prices keep falling. The steel export pressure release valve has closed. Mills are shuttering. “We are hearing more stories about steel mills facing mounting losses, prompting several to announce maintenance plans in November,” said Westpac’s head of commodity strategy, Robert
The Climate Change Authority recently warned that electric vehicles (EV) will need to account for 50% of Australia’s new car sales over 10 years if the federal government’s emissions reduction targets are to be met. Federal and state governments already provide substantial subsidies and incentives for EVs, which cost their budgets billions of dollars. Many
DXY is fading again. AUD popped. CNY yawn. Gold rebound. AI metals too. The chosen one returns. EM is back. Junk green light. Yields ease. Stocks BTFDUMF! The shutdown is nearly over. The White House expressed support for the bipartisan deal to end the US shutdown, which makes it likely the government reopens within days.
Everything is awesome on risk markets again as the US government shutdown appears over due to some spineless and feckless Democrats (but I repeat myself) bend the knee in the Senate. Wall Street rallied taking back most of last week’s losses with other stock markets following suit. This will probably last until the Supreme Court
In the ongoing debate surrounding the Australian economy, there have always been and will continue to be defenders of the current economic strategy, whatever it may be. Historically, it was one of backing industries, boosting home ownership and strongly targeted migration. This strategy, for the most part, had goals that both sides of the political
In 2023, the media in Australia and around the world became enamoured by research claiming that ‘upzoning’ planning changes introduced in Auckland in 2016 had resulted in a building boom and lower home prices and rents. I showed at the time that the research was inaccurate because it used a “biased sample” to skew the
Risk markets in Asia are responding positively to possible news that the Republican shutdown of the US government may finally be coming to an end with the Senate passing a spending bill. Futures for Wall Street and undollars like gold and the Australian dollar have gapped higher as well with the latter leaping above the
IEEFA wants Albo to waste another $1bn on green iron. As Australia pours $1 billion into its Green Iron Investment Fund, it can learn important lessons from the US and EU, where several low-emissions steel projects backed by capital grants were subsequently cancelled or delayed. Projects with a “gas first, green hydrogen later” approach struggled,