The Market Ear with the latest macro set up for equities. and it’s gone Goldman’s volatility panic index has collapsed over the past weeks. GS Pushing it UBS points out that the SPX has not had a down 2% or more day since February 2023: “…the largest string of days since pre Volmageddon (2017), and
It happens nearly every year as Chinese Q1 restocking ends: And southern rains disrupt construction starts: And this about to begin too: Mineral Resources has readied up two brand new vessels that can be loaded with 20,000 tonnes of iron ore without needing to visit a deep water port, in preparation for the start of
A slew of important economic releases overseas has been overshadowed by the local Federal Budget coverage, with the latest US PPI print coming in a little hotter than expected, helping Wall Street surge a little while European markets were broadly unchanged with German inflation coming in as expected. As a result the USD initially surged
Below are CBA’s and Westpac’s takes on the federal budget and its impact on the economy: CBA’s Take: For 2023/24 the Budget is now expected to be in surplus by $A9.3bn (0.3% of GDP), up from the December 2023 MYEFO estimate of a deficit of -$A1.1bn (0.0% of GDP)and the original estimate of a deficit
SQM Research has released its rental vacancy report for April, which recorded a slight seasonal uptick in the nation’s vacancy rate to 1.1%, up 0.1% from March: However, the national vacancy rate was still 0.1% lower year-on-year. As shown above, all major capital city markets remained extremely tight, with vacancy rates just above or below
The Australian government has announced significant financial support for eco-friendly businesses, including $19.7 billion for the Future Made in Australia program, $1.5 billion for the Australian Renewable Energy Agency, $8 billion for green hydrogen, and $7 billion for essential minerals. The program aims to transform Australia into a renewable energy powerhouse, with $1.2 billion allocated
This week, CBA released its Household Spending Insights (HSI) survey for April, which is based on spending data from CBA customers. According to CBA, per capita household spending rose just 1.4% over the year to March, well below CPI inflation of 3.6%: On Tuesday, Westpac released its credit card activity report for March, which also recorded
The slow start to the new trading week continues with most Asian markets putting in scratch sessions with tonight’s Federal Budget looming large on local stocks as they take a hit. The USD is still in a weak phase although both the Euro and Pound Sterling are struggling to lift going into the London open
Morgan Stanley with the note. A key component to watch on Wednesday will be rents. Housing inflation comprises 40% of core CPI and 18% of core PCE, so wherever housing inflation goes, the whole index will likely follow. By now, most folks in markets know that the BLS takes current rents and essentially spreads those
Builders are not happy and are telling the RBA so. Via liaison: Home building is expected to slow as builders work through their backlog of projects. Sales of house and land packages have been fairly stable in recent months, at low levels. There is considerable variation across the country, reflecting factors such as population flows and