Following Thursday’s Q2 CPI inflation and retail sales data from the Australian Bureau of Statistics (ABS), I sat down with Gunnamatta to analyse the numbers and explain what they likely mean for interest rates: The bottom line is that the 0.8% trimmed mean result for Q2 undershot expectations of a 1.0% rise and was in
When I labelled Simandou the “Pilbara killer,” I did not expect the name to travel so widely. All the way to the top, in fact, as RIO responded directly to the label yesterday: Long-dubbed the Pilbara Killer, Rio’s latest major development will bring the world’s largest untapped high-grade iron ore deposit to market, with its
Join us in this week’s podcast as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and Chief Strategist, David Llewellyn-Smith, dive into the arguments for and against more rate hikes in Australia, just as the rest of the world seems resigned to lower interest rates. Can’t make it to the live series? Catch up on the content
Albo from Marketing has taken to Twitter to proclaim that his government has delivered “more jobs, higher wages and lower taxes. We’re working hard to help Australians get ahead”: Let’s examine each of these claims. Yes, it is true that job growth has been strong under Anthony Albanese as Australia has rebounded from the pandemic. However,
Albo’s $12Gj gas price cap joke gets louder every day: Triggering another round of electricity price madness: There is no movement to fix it and so it will continue worsening until there is a policy shift. Not under industry-captured Resources Minister Mad King. Indeed, Albo’s regime of energy rebates covers up the underlying energy shock
As the Great China Bust gathers pace, it is interesting to look forward and see what plans the Albanese government has made in advance. Unlike in 2015, the Treasury is better prepared with conservative commodity price forecasts to help weather the revenue hit. Using FOB prices means adding roughly $10 per tonne for CFR. So,
China’s PMIs puked all over themselves yesterday. Manufacturing is cactus long before Donald Trump: In July , the manufacturing purchasing managers’ index ( PMI ) was 49.4% , down slightly by 0.1 percentage point from the previous month, and the manufacturing industry’s business climate was basically stable. Local and global new orders are slip-sliding away: But, if you thought that was
Australia’s federal and state governments hope to achieve National Cabinet’s 1.2 million housing target by bulldozing middle-ring suburbs into high-rise apartments. Tuesday’s dwelling approval data from the Australian Bureau of Statistics (ABS) drove a dagger through these hopes, with only 4300 units & apartments approved for construction in June in trend terms, to be around
Qingdao iron ore spot is at $97.09, up a measly 0.5%. Mad Dalian is off and running on the fumes of Chinese yawnulus, Fed easing, and geopolitical turmoil: Coking coal less so: Meanwhile, Shanghai rebar is in outright freefall and SGX jaws are back: The steel selloff is getting worse, not better, as it should,
What a twenty four hours for risk markets! With widening war looming in the Middle East, commodities are going crazy, the Yen soared nearly 500 pips on a tiny rate hike from the BOJ and the Federal Reserve indicating several rate cuts on the way, giving Wall Street the green light to go go go…The