At the recent federal election, the Albanese government was reelected with by far the best result for a first-term government in the nation’s post-World War 2 history. Such was the failure of the Opposition, led by Peter Dutton, to present an alternative case for its leadership to the Australian people that the Coalition now holds
Chinese inflation is sinking again. The CPI is stalled while the PPI gallops backwards. CPI: +0.1% yoy (+1.9% mom annualised*) in June vs. GS: -0.1% yoy, Bloomberg consensus: -0.1% yoy; May: -0.1% yoy (+0.5% mom annualised*). Food: -0.3% yoy in June (+6.2% mom annualised*) vs. -0.4% yoy in May. Non-food: +0.1% yoy in June (+1.1%
When Cotality starts talking about specific suburbs, you know the boom is not here yet. Almost 45% of all suburbs across Australia are now at a record high in value, according to Cotality’s latest Housing Chart Pack. The suburb-level analysis reveals the broad-based nature of the current housing upswing, with values across 44.8% of the 3,722 suburbs
The Market Ear on crushed volatility. The rocket fuel is running out. Kill volatility The race to reset VIX and MOVE has been strong, but don’t forget volatility is a mean reverting asset. Source: LSEG Workspace Natural floor Using options for directional plays is attractive again… irrespective if you are bullish or bearish. VIX at
DXY is up and EUR down. AUD doesn’t care because Chyna! Lead boots are not so persuaded. Oil sense, gold trouble. Metals scream Chyna! Even big miners! EM meh. Yields edged up. Stocks stalled. Chyna! is going to yawnulate again! And consolidate! No it isn’t. But we can enjoy the rally while it lasts. Oddly,
New record highs for Wall Street and Bitcoin as the latest US weekly initial jobless numbers weren’t as high as expected, giving USD another lift against most of the undollars. However, the Australian dollar rallied on more Chinese stimulus speculation while Lots of auctions in the US Treasury market saw 10 year yields dip lower
Most Asian share markets are mixed despite a solid lead from Wall Street overnight, with local stocks taking back their recent losses despite the constant bullying from the Trump regime’s tariffs on pharmaceuticals. There’s more tariff announcements and letter printing on the way, but of course we still await the TACO trade. Oil markets are
This is why. The Guardian. The West Australian Labor premier, Roger Cook, has encouraged his federal counterparts to consider a gas reserve on the east coast as it mulls a regulatory overhaul to shore up supply and contain prices. Cook said WA’s gas reservation policy, which requires offshore producers set aside 15% of supplies for
The Reserve Bank of New Zealand paused following the RBA this week. The decision was expected. ANZ sees it as temporary. Our view on today’s decision was that the recent soft data justified another 25bp OCR cut, but that lingering concerns about upside inflation risks would on balance see the Committee decide to hold the
Ferrous markets are hoping against hope! Nomura has a great assessment of the Chinese economy. It seems like “déjà vu all over again” for China’s economy. During the past few years, we have observed first halves associated with optimistic expectations for a sustained stock market boom, a decent growth recovery, an end to the property