Is it a Chinese “bazooka” or not? Media reporting has been so bullish that one would have thought so. Some highly regarded strategists also think so. Michael Hartnett at BofA for instance: China stimulus: RRR cut 50bps (lowest since Feb’07) = 1tn yuan ($142bn) in bank liquidity; cuts in mortgage rates = 150bn yuan ($21bn)
Friday night saw the release of the latest US PCE (personal consumption expenditure) print and it came in a little softer than expected, but this still gave no relief to Wall Street as tech stocks sold off slightly. European stocks did much better, translating the outsized returns here in the Asian session into a solid
One of the common arguments the property lobby makes against negative gearing reform is that rents would skyrocket if investors were no longer allowed to claim rental losses against their wage and salary income. We saw this argument again in an article published on realestate.com.au, whereby an investor with 110 properties claimed that “rents will
CoreLogic’s daily dwelling values index, which measures value growth across the five major Australian capital city housing markets, rose by 0.5% in September: As illustrated above, the 0.5% monthly growth was driven by Perth (1.6%), Adelaide (1.3%), and Brisbane (0.7%), whereas Sydney (0.2%) and Melbourne (-0.2%) recorded modest growth and falling prices, respectively. Similar trends
Monthly data from the Department of Home Affairs, reproduced below by Justin Fabo at Antipodean Macro, shows that the number of temporary visas on issue in Australia (excluding visitors) reached a new high in August, but growth has flattened out: The number of temporary student visa holders has flattened out just below 700,000, and has
Last weekend recorded the lowest final auction clearance rate of 2024, with only 60.7% of homes selling across the combined capital cities. The result was also 5.4 percentage points below the success rate seen in the same weekend last year (66.1%). In Melbourne, 1,335 homes were auctioned last weekend, the busiest week of the year
DXY is still tripping the light fantastic: AUD is up and away. 70 cents next: North Asia thermal: Gold stopped. Oil is still troubled: The new metals boom paused: Mining melt-up: EM gapping is unprecedented: Junk the red rag: Yields faded: Stocks too: Goldman has wrapped on the AUD: AUD: Temporary tailwinds. With the Fed
Treasurer Jim Chalmers recently claimed that the RBA was “smashing the economy” by keeping interest rates high. On Tuesday, the RBA kept the official cash rate on hold at 4.35% and warned that rates are unlikely to come down this year. The RBA acknowledged that headline inflation will fall below the target on the back
International Reads: Trump Would Totally Demolish Economy With His Plans, Says New Report – New Republic Most Millennials Believe They Need to Be Millionaires to Thrive, a New Report Says – Yahoo How Harris’s ‘opportunity economy’ could finally free the US from poverty – The Hill Disney Layoffs Underway: Hundreds Of Corporate Staffers Impacted –
It’s still green across the board as Asian share markets as the PBOC pushes through with its rate cut agenda, although local shares barely moved in response. The pullback in USD has continued although Yen is moving around due to localised inflation prints while the Australian dollar is stalling out just below the 69 cent