The Market Ear on the surge in tech stocks. THE trend line held SPX bounced right on that massive trend line. Note we are now above the 50 day again…. Refinitiv Dry powder? UBS’ Sauerbier points out: “….fundamental equity long/short hedge funds had started cutting risk in late June amidst growing consensus that the rally
CoreLogic’s July housing report contained welcome relief for tenants. Asking rents rose by only 0.1% over the month, the smallest monthly increase since July 2020. The monthly change in rents was negative in Sydney and Brisbane (-0.1% in both cities and the first monthly decline since 2020) as well as Hobart (-0.3%). CoreLogic noted that
DXY fell last night but not much: AUD has turned hysterical with a drop and pop: North Asia is back, baby, for a few days: Israel wants Trump so it bombed the oil price higher: Metals mania is back. Yawn: Miners up: EM has survived its test: Junk is mad bullish: As US yields break
I have repeatedly argued that the Albanese government’s record immigration program is the main cause of Australia’s housing shortage and rental crisis. The Albanese government’s first federal budget in October 2022 projected that Australia’s net overseas migration would be 235,000 in 2022-23 and 235,000 in 2023-24: Instead, an unprecedented 980,000 net overseas migrants landed in
Honeymoon, yes, but aggregated polling is still moving strongly toward Kamala Harris: Swing states less so: Betting markets are still Trump but with a greatly reduced margin: Harris is within striking distance but has work to do.
The post Harris polling surges appeared first on MacroBusiness.
Asian share markets are pushing through the volatility around the latest BOJ rate hike and local inflation figures with green across the board. The USD is obviously in retreat against Yen as a result but the Australian dollar has cracked below the 65 cent level as core inflation was less than expected, increasing chances of
Below is Westpac chief economist Luci Ellis’ note on today’s Q2 CPI inflation result: Inflation in the June quarter was in line with our expectations, and a shade below on some key measures. With the disinflation on track, we affirm our view that rates are on hold until November and likely to decline from then.
For several weeks, Australian leaders have condemned the attempted assassination of Donald Trump. This reaction is self-serving and opportunistic yet, on its surface, also supportive of the community. But there is something worse than political violence: apathy. When a person is the victim of a crime and turns to authorities for protection or justice, it
For some time, I have labelled The Guardian’s allegedly lefty senior commentators the “useful idiots” of capital. I have been kind. The alternative explanation is that they are biased, if not captured, by partisanship. Essential Media has long been a Labor polling henhouse but head honcho Peter Lewis is taking it to a whole new
The Australian Bureau of Statistics (ABS) has released retail sales data for the month of June and the quarter. Australian retail turnover rose 0.5% (seasonally adjusted) in June on the back of “end-of-financial year sales”, which “boosted spending in June by more than usual, particularly on discretionary items like furniture, electrical goods and clothing”. Despite