The ferrous market does love seasonality, and no sooner has it closed the jaws than it is reopening them. This is part short squeeze, part hope for stimmies, with a dash of Iran thrown in. Futures markets have gotten rather short over the last month, so some corrective medicine was due. Second, hope for stimmies
In a normal post-pandemic year, auction clearance rates in Sydney leap out of the gates as the holiday season hibernation period ends and the property market surges in February and March. In 2022 and 2024, this period had the highest clearance rates of the year. Without an external catalyst, such as movements in interest rates,
Australia is suffering its worst rental crisis in living memory. Advertised rents have soared by around 47% since the end of 2019, according to Cotality, adding around $11,470 to the annual cost of renting for the typical Australian: Australian rental vacancy rates are also tracking at historical lows, at around half pre-pandemic levels: Cotality shows
The Albanese government has signalled that it will scale back the capital gains tax (CGT) discount in the May budget, most likely from 50% to 33% or 25%. It has also signalled that it will limit the number of investment properties that an individual can negatively gear. However, Greens senator Nick McKim says the 50%
Even the missteps of the American Madman can have a positive aspect. China still relies less on foreign energy sources than most large nations, but it has vulnerabilities worth exposing from time to time. This degree of dependence is far lower than that of major European industrial nations like Germany, Italy, and Spain, as well
The Australian Bureau of Statistics (ABS) released national accounts data for the December quarter, which printed headline real GDP growth of 0.8% over the quarter and 2.6% year-on-year. The result beat expectations of 2.2% growth. Thanks to backward revisions, per capita GDP has now grown for four consecutive quarters, rising by 0.9% in 2025, the
Charts from TME. Like acne. AI bubbles are bursting everywhere. An oil shock is almost uniquely well-placed to smash tech because it causes a spike in duration, which hammers growth stocks on long-term ROE horizons. We already know that the Sag7 are kaput. Do you like your KOSPI served crispy? Who’s next? The cause is,
The latest quarterly dwelling completions data from the Australian Bureau of Statistics (ABS) showed that over the first 15 months of the National Housing Accord, 81,000 (27%) fewer homes were constructed than required to meet the government’s target of building 1.2 million homes over five years, commencing July 1, 2024: Out of the major markets,
Australian growth will be okay today, by all accounts. Forecasters have the December quarter coming in at 0.7-1.1% supported, largely, by, you guessed it, Albo’s rampant spending. Despite a significant decline in public infrastructure work (-3.8% qtr), public investment increased 0.9% qtr in Q4. Strength was centred at the federal level, where federal public corporations’
Two weeks ago, I flew to Sydney to record an SBS Insight special examining the immigration debate in Australia. The scissor reel below showcases my three appearances on the episode: SBS did a competent job presenting my arguments with minimal editing. But, as with all such shows, I would have said more if I could.