According to leaked details obtained by The AFR, the Albanese government plans to limit universities to enrolling no more than 40% of international students. The limits will remain in force for two years, beginning in January 2025, with baseline numbers chosen from 2019 levels. Around ten universities have enrolments of 40% or greater, including the
Qingdao iron ore is trading down 0.74% this morning at $98.66. Shanghai rebar and SGX iron ore future rolled yesterday: Mad Dalian is falling too: Coking coal knows no bottom: Scuttlebutt is negative: Prices of the key steelmaking ingredient were hit by receding near-term buying appetite after more Chinese steelmakers recorded loss, said analysts. “We
The Reserve Bank of Australia’s (RBA) Statement of Monetary Policy (SoMP) was released on Wednesday and warned that Australia faces an extended period of strong rental inflation. The SoMP noted that “underlying demand for housing has remained strong”, driven by “strong population growth and a low average household size continue”. The SoMP also noted that
The Market Ear explores the equity crash bottom. The sharp correction So far the correction has been sharper than the average over the past 100 years. GS Post crash anatomy “Typically, we see ~4-8 weeks of price oscillations (large initially, dampening over time) and there is usually a re-test of the initial low at the
Overnight saw stock markets return to some semblance of stability as Wall Street rallied but lost momentum at the close as US Treasuries sold off after the big bid earlier in the week. This may not yet be over as US recession fears and other macro concerns still loom that could turn this wide dip
Australia’s labour market continues to deteriorate, with the ANZ-Indeed job ads index falling a sharp 3.0% in July to be down 16.7% since January and 28.6% from its peak in November 2022. ANZ Economist Madeline Dunk commented: “ANZ-Indeed Australian Job Ads recorded its sixth consecutive monthly decline in July, with the series down 16.7% since
The National Bank of Canada has released the following chart showing that annualised real per capita GDP growth in Canada has declined for eight consecutive quarters: “Economic growth remains weak given the demographic boom”, note the economists at National Bank of Canada. “This trend is set to continue and GDP per capita might have declined
Asian share markets are trying to fight back today, with Japanese equities returning with a near 10% gain in a single session while overnight markets were down between 2 and 3% with futures indicating some recovery underway. This may be shortlived as markets remain highly volatile and cautious around the trajectory of the Fed, with
As expected, the Reserve Bank of Australia (RBA) has chosen to keep the official cash rate on hold at 4.35% at today’s Monetary Policy Board Meeting. In arriving at its position, the RBA noted that “inflation remains above target and is proving persistent”. “Inflation is still some way above the midpoint of the 2%–3% target
Victoria’s Suburban Rail Loop (SRL) wins the award for Australia’s worst-ever infrastructure project. Former premier Daniel Andrews announced the project on the eve of the 2018 state election, proposing a cost of $50 billion. The SRL was a “captain’s call” by Andrews and was never disclosed to Victoria’s transport department before its announcement because Andrews