The post FOMC breakouts ceased on Friday night as other Fed officials muddied the waters with talk about the decline in inflation not as severe as once thought. Wall Street failed to hit another new record high and slid backwards, although European stocks did worse on the wobbly mood. USD remains weak with Euro still
In September 2022, the newly elected Albanese government convened the Jobs & Skills Summit with the express purpose of turbo-charging net overseas migration into Australia. Then Home Affairs Minister Clare O’Neil said that immigration had been the “special sauce in our national story” and wanted more. She said that Australia had to move “away from
Victoria already has the lowest credit rating and the worst debt profile in the nation. Over the past several weeks, the world’s two largest credit rating agencies have warned the state government that it risks further downgrades unless it controls its debts. A single-notch downgrade could see Victoria’s interest bill rise by 0.5% from its
PropTrack’s latest housing affordability report revealed that housing has never been more unaffordable in Australia, with median-income households earning just over $112,000 a year only able to afford 4% of homes sold across the nation over the past year: Australians now need to be high-income households earning $213,000 a year (i.e., in the top 20%
This week we get the monthly inflation print for August. Westpac sees 2.7% and Antipodean Macro 2.6%. Well within the RBA’s target band and a trigger for rate cuts: However, the result will be driven by energy rebates: The RBA does not include the rebates in quarterly trimmed mean inflation, which Westpac sees as a
DXY still looks awfully vulnerable: AUD is knocking on the breakout door: North Asia is mixed: Oil is stalling, gold unstoppable: Metals are confused: Miners pumped then dumped: Is there life in EM yet? Junk sees sunny uplands of soft landing: Yields are still selling the Fed fact: Stocks eased back: AUD positioning has turned
Insolvency data from the Australian Securities and Investments Commission (ASIC) shows that around 1,900 hospitality businesses collapsed last financial year amid rising food and energy costs, and the sharp decline in discretionary consumer spending. The accommodation and food services sector saw the highest growth in insolvency appointments of any sector last financial year, increasing by
Courtesy of Treasurer Jim Chalmers comes the least affordable housing market on record. PropTrack: Housing affordability deteriorated further over the past year to reach its worst level on record, driven by high mortgage rates and increasing home prices. A median-income household earning around $112,000 could afford just 14% of homes sold in the 2023-24 financial
International Reads: House Republicans reject their own funding bill with a shutdown around the corner – Forbes Andrew Cuomo personally altered COVID nursing-home death report that lowballed fatalities, emails show – NY Post People underestimate the income of the top 1%, researchers find – Phys Ford’s CEO and CFO took a drive in a Chinese
‘Winter Morning near Heidelberg’ Louis Buvelot, 1866, NGV AUD/USD EUR/USD USD/JPY GBP/USD Gold WTI Brent Australia 200 US S&P 500 UK 100 Japan 225
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