Risk markets were unable to move much overnight as the latest US initial jobless claims came in slightly higher than expected (until revised by Sharpie by the Fanta Fuhrer) while a lot of Fedspeak around the slowing US economy led Wall Street to closed mixed at best. Oil prices pushed lower while the USD was
DXY was soft. AUD up. CNY is stalled. Gold is signalling Waller cuts! Metals not so much. Big bear tries again. EM hugs the bubble. Junk is lagging badly. Yields did the opposite to gold. The bubble inflates. It looks like a new and dovish Fed chair is front-running. Bloomberg. Federal Reserve Governor Christopher Waller is emerging
Exorbitant land costs are the primary driver of Australia’s high home prices. According to the Australian Bureau of Statistics (ABS), residential land values, which underpin the housing market, increased by 8.8% between 2023 and 2024, reaching $7.7 trillion. Residential land values increased from 1.1 to 2.9 times Australia’s GDP over 35 years, ending in 2023-24.
It was all about tariffs again today in the minds of risk markets but Asian shares have all broadly advanced except the ASX200 which put in a scratch session. More rate cut speculation builds as the US Federal Reserve has to weigh up increasing inflation against further jobs losses as the USD continues to
The latest data from the Real Estate Institute of New Zealand (REINZ) showed that house prices nationally have fallen by 16.4% over 44 months, with all major centres experiencing heavy declines. As illustrated below by Justin Fabo from Antipodean Macro, home prices in real terms have crashed back to 2019 levels. Cotality released its house
Victoria disease is the malady of a permanent Labor government leading to an ever-rising population, along with state dependency and falling living standards. It is a national pandemic, but patient zero is Victoria, and she is now dying from a combination of crush loading, energy failure, excess debt, and inflated expectations. One area where Victoria
One of Australia’s most significant educational policy failures was the gradual closure of secondary technical schools between the 1970s and 1990s, driven by the mistaken belief that young people should attend university. The mistakes were then compounded when governments redirected funding for vocational education and training (VET) to universities, alongside redirecting what little VET funding
The ferrous complex is still easing after the recent ill-conceived push. The outlook remains weak. The big event refers to a September 3 Beijing ceremony, commemorating the 80th anniversary of the end of World War Two. Chinese steelmakers, especially those in the northern region, usually constrain production before big events to ensure air quality in
Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen, look at a number of concerns that investors have about market concentration. The two big ones: (1) With almost 40% of the US market in the hands of just 10 stocks (2) at the same time the amount of money in passive stocks
These poor folks at the ABC are a leading indicator. Regional Victorian residents in 10 towns reliant on standalone gas networks are in shock after learning their supply will be cut off by the end of next year. Solstice Energy has announced it will phase out its compressed natural gas (CNG) networks in Robinvale, Swan