Goldman with the outlook. AUD, NZD, & CAD: Caution signs. Cyclical G10 currencies, AUD, NZD, and CAD, have underperformed in August. After touching or nearly-reaching our 3-month targets, each has doubled back weaker versus the Dollar over the past month. Risk has been under pressure and could be weighing on the more cyclical parts of
Australia’s pivot to Palestine, which has no practical implications for anything or anybody outside of Albo’s politicking, is developing into a major risk to the Australian national interest. While the nation sinks into the greatest distraction since the Rubik’s Cube, Australia’s real strategic settings are dangerously adrift, which appears to be exactly how Albo’s cowards
The state of Victoria has the highest unemployment rate in the nation. As illustrated below by Alex Joiner from IFM Investors, Victoria’s unemployment rate was 4.55% in July, 0.32% above the weighted average of the rest of the nation. The next chart from CBA plots trend unemployment rates across the states and shows that Victoria’s
The Australian government has cancelled the use of the word “immigration” internally, including at supposedly “independent” entities such as the RBA and PC. Now the government is wasting taxpayer dollars trying to eliminate the word from media coverage. A nice juxtaposition comes from the US today, where democracy still exists, and the US government is
This deal is the worst-case scenario for Aussie gas: The Abu Dhabi National Oil Company’s international investment arm and its partners were given a second extension on Monday to continue conducting exclusive due diligence of Adelaide-based energy giant Santos – more than two months after their non-binding takeover agreement was reached in June. Santos has
The Australian Bureau of Statistics’ (ABS) attempted censorship of the migration debate, explained in detail here and here, received support from ABC’s Media Watch, which attacked so-called ‘right-wing’ media outlets for raising alarm at the astronomical numbers of net migrants landing in Australia, which are higher than anything Australia experienced before the pandemic. An extract
The Market Ear on the bubble. Hold your shorts GS US Equity Sentiment Indicator of investor positioning continues to be a mystery. Do not short until this one is positive 1 sigma again. Source: Goldman Only half a sigma The Deutsche Bank “consolidated equity positioning” indicator still has plenty of room to reach levels associated
A key reason for the decline in Australia’s productivity and living standards is that the country has grown rapidly through mass immigration. World Bank data presented below shows that Australia’s population increased by 45% (circa 8.5 million) in the first 25 years of this century, the strongest growth in the advanced world. However, Australia has
Everybody celebrate! Yahoo. Shanghai, the commercial and financial hub of mainland China, has further relaxed its home purchase policy, following Beijing’s lead to rejuvenate the nation’s sluggish property market. Local residents could now own an unlimited number of flats outside the city’s outer ring road, an area where two-thirds of Shanghai’s housing is located, municipality authorities said
Below is another brilliant guest post from MB reader Erin Rolandsen, CEO of Angelassist: It is rare, as a writer, that I ever venture beyond the comfortable veil of the third person. But the enthusiastic response to my recent article on Performative Democracy has compelled me to set aside convention. Many readers urged me to