The ferrous market is beginning to teeter as the steel glut grows and more countries get angry about it. Prices cracked lower Friday: The problem is relentless Chinese overproduction despite weak margins It is unheard of for the year to end with sufficient inventory to render the new year’s restock moot, but that is where we are
China accounted for nearly one-third (31.5%) of global carbon emissions in 2023. China alone also accounted for 67% of the rise in the world’s carbon emissions between 2000 and 2023. This month, the Albanese government announced that Australia, which only accounts for around 1% of global emissions, will reduce emissions by more than 62% and
From the Market Ear: Tiny tech bubble feelings “…vendor financing was a feature of that era and when when the telecom equipment makers (Cisco, Lucent, Nortel, etc.) extended loans, equity investments, or credit guarantees to their customers who then used the cash/credit to buy back the equipment…well suffice it to say, it did not end
Recent figures from the Department of Home Affairs revealed that almost 100,000 asylum seekers had their claims for asylum in Australia rejected, yet they remained in the country. This includes an estimated 50,000 who have completely exhausted their avenues for appeal. This figure has been heavily driven by individuals formerly on student visas applying for
“Stubborn empty nesters” refusing to downsize from their family-friendly homes have become Australia’s latest housing scapegoat. In April, the Daily Telegraph’s Taylor Troeth cited research from Australian Seniors showing that two-thirds of empty nesters in NSW “were still living in large family homes with no plans to sell, despite research showing this could free up
By Belinda Allen, head of Australian economics at CBA: The August monthly CPI surprised to the upside. There is clear upside risk to Q3 25 CPI and makes a November RBA rate cut not a done deal. The week ahead brings the RBA Monetary Policy Board meeting. We expect the cash rate to remain steady
Australian house prices are already at their highest level in history and are beginning to surge higher. According to Cotality, last week’s combined final auction clearance rate rose to 71.6%, which was the capital cities’ highest result since early June 2023 (73.1%). It was also the third time in five weeks that the final clearance
International Reading: Scott Bessent tells NYC to ‘drop dead’ while he arranges a $20b swap line for Argentina’s chainsaw-wielding, dog-cloning president – Fortune Trump Admits Farmers Are Getting Screwed By His Tariffs – Daily Beast The man Trump nominated to undermine Fed independence once wrote a scathing critique of how the Fed wasn’t independent enough
‘C’mon Queenslanders, you know it’s what your heart craves…..’ AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225 Friday evening video selection Mearsheimer and Hugh White – good discussion Varoufakis and Technofeudalism Jack Ma and the global economy The BOM Trump Russia
After years of watching residents flee to the north, we ‘Mexicans’ in Victoria are beginning to see a net flow of Queenslanders down south. Last week’s Q1 2025 population data from the Australian Bureau of Statistics (ABS) revealed that for the first time since the onset of the pandemic, Victoria recorded a net inflow of