Asian stock markets have seen a big boost across the region as the US election results come in with a Trump win most likely, giving USD a big boost alongside other risk markets. Euro reversed course alongside Yen while Australian dollar has been slammed back below the 65 cent level. Oil futures are being pushed
Morgan Stanley with the note. Gauging Potential Economic Implications of Higher Tariffs Although future trade policy is heavily debated heading into the US election, our Global Economics team believes the market may still be underappreciating the degree to which higher tariffs, if implemented, could affect the US economy. They estimate that if 60% tariffs on
Markets are breaking for Trump with AUD and bonds down hard. The deciding factor in the election at this point is the unexpected flip of Virginia. Harris is doing well in the blue wall but without Virginia she will need to flip another state, unexpectedly, to win. El Trumpo 2.0 looms!
Charlie McElligott at Nomura on a post-election melt-up. Equities are resilient after last week’s mini-wobble and with “Vol leak” pressures building, while USTs are rallying significantly alongside US Dollar being hit lower….as “Harris (Gridlock)” is trending ‘hard’ in final polling, reversing some of that past month’s-worth of “Trump (Red Sweep)” hedging –premium, which is seeing
Former Home Affairs Minister Claire O’Neil lamented last year that Australia’s migration system encouraged too many temporary residents, creating “huge problems” and holding the country back. “Today, really for the first time in our modern history, our uncapped, unplanned temporary program is the centrepiece and driver of our migration system. This simple fact is the
The Guardian’s Benita Kolovos penned a propaganda piece entitled “Downsizing the Australian dream: why families are trading houses with back yards for apartments”, putting a positive spin on forcing Australian families to live in high-rise apartments. The article profiled a family of four living in a two-bedroom, two-bathroom apartment in the inner Melbourne suburb of
Ross Gittins needs to do some fact-checking: For several years, we had prices rising at a rate that was actually lower than the Reserve Bank and economists regarded as healthy: less than 2 per cent a year. But then, in the months before the federal election in May 2022, at which Scott Morrison and crew
ABC political reporter Keane Bourke acknowledges that “Australia doesn’t have enough houses”. Bourke also believes that there is “a hidden capacity in the market which, in theory, could help solve that problem”, namely an abundance of homes with spare bedrooms. According to Bourke, Australia would have capacity “for about five million extra people” if these
Australia’s governments want to ‘solve’ the housing crisis by pushing Australians into high-rise apartments. However, high-rise apartment approvals have collapsed, as illustrated in the following chart: Since peaking between 2015 and 2017, high-rise approvals have fallen by the following amounts across the major markets: NSW: down 74% from the September 2016 peak. VIC: down 68%
So far, sales of new property have not been better than prior stimulus bursts: Sell-side sentiment is not better, either. The demand side is a bit better. The bounce in new home search measures is barely perceptible and over. There has been some improvement in inventory as completions fall away. There is nothing here for