The Market Ear continues its examination of the mini-crash. It was a volatility shock Yes, this was a volatility shock primarily…and not a stock shock. Impressive moves in VIX, both ways. Refinitiv Buying the dip Macro hedge funds have added to longs. Nomura The volatility control equities reduction Volatility control strategies mostly done rightsizing their
From the ABS just now. In seasonally adjusted terms, in July 2024: unemployment rate increased to 4.2%. participation rate increased to 67.1%. employment increased to 14,469,600. employment to population ratio increased to 64.3%. underemployment rate decreased to 6.3%. monthly hours worked increased to 1,961 million. full-time employment increased by 60,500 to 10,010,600 people. part-time employment decreased by
I have argued repeatedly that Victoria’s $200 billion Suburban Rail Loop (SRL) project will consume most of the state’s infrastructure budget, starving existing transport corridors and growth areas of funding for decades. 9News surveyed residents of Melbourne’s outer suburbs and found that they feel neglected by the government, with infrastructure failing to keep pace with
Bloomberg has finally caught up with MB, three years late: At least 48 million homes in China have been sold before construction has been completed, suggesting the country’s property crisis won’t be resolved anytime soon, according to a report from Bloomberg Intelligence. The figure, based on pre-sales data from 2015 through the first half of
Recall that failed Home Affairs Minister Clare O’Neil, who drove the rental crisis by overseeing the largest immigration spike in the nation’s history, was appointed Australia’s Housing Minister because she excels at spin. She [O’Neil] remains in cabinet and has now moved to minister for housing and homelessness — a portfolio that needed a stronger
Qingdao iron ore fell 1.3% to $93.62 yesterday. SHFE futures were pulverised and SGX caught down: Mad Dalian was also bad: Coking coal will halve yet! Baowu Group summed it all up better than I could: Conditions in China’s steel sector are like a “harsh winter” that will be “longer, colder and more difficult to
Last night saw the release of the highly anticipated US CPI print for July which came in a little softer than expected. This gave Wall Street pause and could put a stop to the recoveries here in Asia while the USD pulled back slightly again most of the currency majors. Euro pushed right through the
Over many years, I have debunked the claim that international education is a major export industry for Australia. According to the Australian Bureau of Statistics (ABS), education is Australia’s fourth largest export valued at $48 billion currently: Around two thirds of these reported exports come from goods and services spending by students, with the rest
Ahead of the Australian Bureau of Statistics’ (ABS) July labour force report later today, Jobs & Skills Australia released its internet vacancy index (IVI), which fell another 3.7% in July to be 23.1% lower year on year: Job vacancy numbers have decreased in 11 of the past 12 months, although there are still 25% more
DXY is breaking down with inflation: AUD fell anyway: North Asia is mixed: Oil and gold soft: Metals too: Miners have have fallen down the bottomless shaft: EM meh: Junk is back: As yields confirm US inflation is beaten: Stocks are jumpy: US inflation is beaten. Goldman: July core CPI rose 0.17% month-over-month, roughly in