In the latest Treasury of Common Sense with Radio 2GB’s Clinton Maynard, I discussed the band-aid federal budget, why net overseas migration numbers will overshoot projections, and why Australia’s inflation dragon has been slain. Below are the highlights pertaining to the inflation discussion. Clinton Maynard: Do you think inflation has been beaten? Have we broken
Sharri Markson from Sky News interviewed me on Wednesday night, where I explained why the Albanese government’s attempts to boost manufacturing would fail without plentiful and affordable energy. Edited Transcript: Australia is an energy superpower. We should have the cheapest energy in the world. But instead, through policy failure, we actually have some of the
Goldman continues its breakdown of Chinese property inventory rescue plans. Following our latest note What would it take to clear China’s housing inventory? where we expected housing “trade-in” programs to be a key policy initiative to help saleable inventory digestion and stabilize the property price outlook, we observe this program has expanded to more cities
Westpac with the note. I agree given the dire leading indicators for unemployment. Both the government and RBA are walking a fine line, but some budget decisions might not be as inflationary as they seem at first glance. Households in Australia are collectively doing it tough. Their cash flows are being squeezed by the high
The RBA yesterday painted a dire outlook for Australian renters: Overall then, there is currently an imbalance between new supply of housing and growth in demand. Given the implications of this for rents, construction costs and activity, we are closely watching how these imbalances unwind. Our assessment is that there are several potential avenues through
For some time, the warnings have been apparent that Australia cannot create enough jobs to keep pace with record levels of net overseas migration. Last week’s data from Seek should have sent alarm bells ringing, with the number of applicants per job ad surging by 8.6% in March to be tracking 55% higher than the
The Market Ear on what’s hot and what’s getting tired. The 10 year Trading right on the 200 day moving average… Refinitiv Next “thing” in AI A key debate in A.I. is predicting the next trend. Initially, A.I. excitement centered on Silicon/Semis, then expanded to manufacturing/power/infrastructure. Investors are now debating the “Edge” (with catalysts like
DXY firmed overnight: AUD paused: No help from North Asia: Gold is either going to double top or take off. Oil is cooked for now: Dirt stumbled: Big miners are range trading: EM is off and running: Supported by junk: Yields paused: And stocks: Charlie McElligott at Nomura sums it up nicely: MARKET REMAINS “BUYERS
It was another day of choppy trading yesterday for iron, with prices finishing up: Dalian was up: Coking coal too: The latest CISA data is lukewarm at best, down 2.5% YTD, 40mt iron ore equivalent. Inventories are almost identical for steel, Yoy: It’s a strange picture. The steel output falls will continue, the inventory of
Wall Street failed to make another new record high overnight as the impact of the latest US inflation print was fully absorbed and the strong swing against USD was pared back a little. European stocks lost a little confidence as well which is likely to translate into a mixed finish for the trading week here