In December 2023, The SMH reported that year 12 applications to the University Admissions Centre (UAC) hit their lowest in over a decade: The general manager of marketing and engagement at UAC, Kim Paino, noted that the high cost of living, a robust job market, and rising costs of higher education were likely to blame
The Market Ear wraps up the correction. What is happening…? Here are a couple of short/medium term catalysts to explain the weakness (outside the most important one – the MoMo carnage – dealt with in previous email). 1. Rotation rampage……Several days of Big Tech underperformance, as investors expanded their exposures, adding more pro-cyclical exposure and
As they should say and don’t, history doesn’t repeat, but it sure does repeat. Why is China trying to combat a real estate crash with higher interest rates? China’s central bank is readying a bold new experiment in global monetary policy — taking a leaf out of the hedge fund playbook and arranging to short
Shanghai rebar is howling that the FE complex is in deep trouble as it takes out seven-year critical support on the monthly chart: The trigger yesterday was a meek Third Plenum statement: At the session, an analysis of the present situation and the tasks we face was conducted. It was highlighted that we must remain
AMP chief economist Shane Oliver posted a series of charts on Twitter (X) suggesting that Australia’s labour market is not as rock-solid as Thursday’s official June labour force survey from the ABS suggested. Oliver noted that the June quarter NAB business survey showed a further fall in hiring plans: This followed the monthly NAB business
As is often the case, Australians are forced to look to foreign maniacs to address their interests over the policies of the Canberra suicide squad. I have noted many times how China is often Australian punters’ friend ahead of their illustrious leaders. Examples include Beijing shutting down the Chinese trade in Australian property in 2018,
More political and macro volatility overnight as the ECB meeting came and went with no change while the odds of President Biden stepping down increase. Wall Street pulled back further alongise European stocks although the latter had some relief as Euro pulled back as USD captured the safe haven bid. Volatility is increasing across all
PropTrack’s rental affordability index has collapsed to a record low, with households earning the median income of $111,000 only able to afford to rent the lowest share of properties since records began in 2008. Unlike mortgages, rents cannot be leveraged. This means that rental growth tends to be tied to household incomes, limiting its potential
DXY rebounded last night: AUD fell: North Asia too: Oil and gold eased: The copper bubble burst: Miners retest on deck: EM too: Junk is fine, suggesting a run of the mill correction for overheated risk: Yields popped: Stocks dropped: Commodities were puked, and why not? China’s Third Plenum was all quality and no quantity
Wednesday’s dwelling construction data from the Australian Bureau of Statistics (ABS) was an unmitigated disaster and showed that the nation’s housing shortage continues to worsen. Only 171,667 dwellings were completed in the year to March, roughly 78,000 below the Albanese government’s annual 240,000 construction target. The forward-looking construction indicators were even worse. There were only