ANZ has the chart. RBA cash rate futures are pricing four rate cuts through 2025, the fewest anywhere thanks to Alboflation: I agree that the Aussie easing cycle will start more slowly than elsewhere but it will catch and overtake in due course. As China fades way, commodity prices continue to collapse. The following chart
CBA economists Gareth Aird and Stephen Wu estimate that the household savings war chest accumulated over the pandemic will be largely exhausted by the end of 2024. As a result, “the boost to consumer spending power in 2024/25via the 1 July 2024 tax cuts will be partially offset by the decline of the tailwind on
International Reads: US Mortgage Rates Tumble to 6.55% in Biggest Drop in Two Years – Yahoo 40% of Americans Now Worry They Can’t Pay Their Bills – Franknez The mystery of Argentina’s gold: Milei admits that it was transferred abroad, without specifying the quantities or destination – Elpais Dell reportedly cuts over 12,000 jobs as
Asian share markets are having some good positive sessions to end a quite volatile trading week but other risk markets also reducing in volatility again today. Yen is weakening again to alleviate some pressure on Japanese equities but could be shortlived as the Australian dollar also fails to get back above the 66 cent level.
He’s the orator of the century: Former Labor prime minister Paul Keating has lashed out at the current government, once again criticising the endlessly-debated AUKUS defence pact. Appearing on the ABC’s 7.30 program last night, Keating called the Albanese government a “sellout”, declaring: “In defence and foreign policy, this is not a Labor government. This is a party which
The Australian Bureau of Statistics (ABS) estimate of population growth, gleaned by Justin Fabo from the per capita retail trade estimates, remained turbo-charged at 2.5%: This suggests that the demand-supply imbalance in Australia’s housing market will have widened, increasing the cumulative housing shortage. As a result, home prices have risen to record highs and rents
CoreLogic’s latest housing chart pack notes that the monthly pace of rental growth eased to its lowest since August 2020, with rents rising only 0.1% in July: Results varied across the capitals, with rents rising in Adelaide (0.6%), Melbourne (0.3%) and Perth (0.3%), flat in Darwin and Canberra, and falling in Sydney (-0.1%), Brisbane (-0.1%)
Master Builders Australia (MBA) claims that Australia’s immigration system is “severely broken” and needs to preference migrants in the construction trades if Australia is to meet its housing targets. MBA released its migration blueprint for the construction sector on Thursday and urged the government to adopt a simpler visa system with lower costs and faster
Data from the Australian Securities and Investments Commission (ASIC) revealed a record 11,049 corporate collapses in 2023–24: Persistent inflation, high interest rates, and the Australian Taxation Office pursuing tax debts were blamed for the 40% increase in corporate insolvencies in 2023–24. “The usual suspects of inflation, interest rates and sentiment are influencing insolvencies”, Ashurst restructuring
Property Council of Australia (PCA) CEO Mike Zorbas told a parliamentary inquiry that “build-to-rent is the missing piece of the Australian housing puzzle”, noting that Australia’s build-to-rent share of 0.2% was well below levels of 12% in the United States and 5% in the UK. Zorbas’ claim follows last year’s Ernest & Young report, commissioned by