The Greens have cancelled the King: Greens deputy leader Mehreen Faruqi says she will sit out today’s parliamentary reception for King Charles and Queen Camilla, and that she hopes the royal tour is their last visit to Australia. Faruqi says Labor’s move to ditch plans for a new republic referendum is a failure. Once a
A night without significant economic data or other macro cataylsts has seen risk markets pull back across the complex, with only tech stocks leading the NASDAQ slightly higher while the USD continued its surge against the undollars. Euro and the Australian dollar were hammered yet again, with the former almost breaking below the 1.08 level
Last week, the Australian Bureau of Statistics (ABS) released a stronger-than-expected employment report, with 64,000 jobs created in September (51,600 full-time), a 0.1% decline in the nation’s unemployment rate, and record participation and employment-to-population rates. The strong result prompted interest rate traders to push back their expected timing of the first Reserve Bank of Australia
DXY is an unstoppable rocket: AUD is a scorched stool: CNY keeps being rewarded for cutting rates: Oil stuffed. Is gold noise or signal? If it is the latter, is it discounting American election violence? Commods crushed under DXY: Miners too: And EM: Junk anxiety is creeping in: As yields jackknife: Stocks have discounted nothing
CoreLogic’s daily dwelling values index shows that Sydney home values have recorded zero growth over the past 28 days, as illustrated below: Final auction clearance rates have fallen sharply across Sydney, pulling down prices. SQM Research managing director and founder, Louis Christopher, believes that last weekend’s auction results were the weakest since 2022, despite CoreLogic
Asian stock markets were somewhat mixed as the new trading week got underway as the PBOC joined the rate cut brigade with an expected cut to prime lending rates today while the RBA seemed to have reiterated its stubborn stance going into the end of the calendar year. Wall Street and European stocks are likely
ABC News’ David Taylor posted the message below on Twitter (X), lamenting that Australia is only building around 165,000 dwellings a year, well below the 240,000 needed to address the housing crisis. “Where does that leave us?”, asked Taylor. Taylor’s concerns are justified. Only 158,750 dwellings commenced construction in the 2023-24 financial year, 81,250 (34%)
Sydney faces an impossible housing conundrum. Last week, Mirvac chief executive Campbell Hannan told a Citi investment conference panel that “there’s just not enough builders to build the homes because they’re busy with all the [government infrastructure work]”. NSW Treasurer Daniel Mookhey agreed, telling the conference that big infrastructure projects divert labour from housing construction.
There were only ever two reasons to read Crikey. Guy Rundle and Bernard Keane. Everything else is toilet paper. Now there is one reason: Crikey’s correspondent-at-large Guy Rundle has been sacked after he sent a text to ABC Radio saying sexual assault complaints have gone up because “every grope is now a sexual assault”. Guardian
Once again, the Origin Energy-sponsored Grattan Institute is busy trying to divert every possible dollar into the East Coast gas export cartel. Its latest willing victim? The always ready for vested interests AFR: As a new Climate Change and Energy Minister, Chris Bowen was reluctant to embrace the notion that gas would still have a