South Korean President Lee Jae Myung recently pledged to rein in real estate speculation, which was threatening his nation’s future, vowing to stabilise the housing market “by any means necessary.” “For the sake of a reasonable and prosperous nation, (I) will put an end to real estate speculation that could ruin the country by any
The ferrous jaws must close, and slowly they are. Scuttlebutt is bearish. Chinese steel mills trimmed purchases ahead of the extended Lunar New Year holiday while preparing for scheduled maintenance, dampening near-term demand. Port activity in China also softened, with industry data showing lower transaction volumes, suggesting mills are relying less on spot cargoes. Port
Every day, the Albanese government’s Housing Accord target of building 1.2 million homes over five years slips further from reach. Data released on Tuesday by the Australian Bureau of Statistics (ABS) showed that the rate of monthly dwelling approvals in trend terms stalled at just under 16,500 for the month of December, 3,500 below the
The most recent Roy Morgan Poll reflects the ongoing turmoil among the opposition parties. With 30.5% of the vote still going to the ALP, One Nation is up 2.5% to 25% ahead of the Liberals, the Greens are down 2% to 18%, and 14% of voters back Independents and Other Parties, including 2.5% who favour
Overnight saw a big swing in volatility all based on US markets as AI concerns on earnings sent half of the NASDAQ down while a rally in precious metals gave undollars a lift against USD across the board. Then we saw a big bounce in oil prices with more speculation about the Trump regime bombing
The Reserve Bank of Australia (RBA) on Tuesday lifted the official cash rate (OCR) by 0.25% to 3.85%, adding around $110 to the monthly cost of servicing the average new mortgage of $700,000. To make matters worse, the forecasts presented in the February Statement of Monetary Policy (SoMP) show that the RBA does not expect
Warren Hogan, managing director of EQ Economics, published an article in the Australian Financial Review arguing that the Reserve Bank of Australia’s (RBA) monetary policy board has failed in its core mandate of price stability, allowing inflation to remain above target for five consecutive years. Hogan claims this failure stems from poor forecasting, weak leadership,
Asian share markets are bouncing back strongly on the back of a solid US manufacturing PMI print overnight and a possible resolution to the latest Epstein distraction as Iran deliberates on shutting down its nuclear capabilities. The USD remains strong against the undollars amid its recent resurgence with Euro heading below the 1.18 handle while
As widely tipped by financial markets (~70% probability), the Reserve Bank of Australia (RBA) unanimously voted to lift the official cash rate by 25 bps to 3.85%: The increase will add roughly $110 to the monthly cost of servicing the average-sized $700,000 new mortgage. In arriving at its decision, the RBA noted that inflation “picked
Chart from TME. Why have stocks ignored collapsing trade, the Chinese crash, anarcho-imperialism, civil, fiscal and monetary instability in the US? In a word: earnings. Kicking. Arse. Better still to come if AI delivers. Carving it up. Easy money. Roaring economy. Trending off planet. M&A bouncing. Not much to criticise there.