By Lucinda Jerogin, Associate Economist at CBA Australian headline inflation surprised to the upside, sharply rising by 2.8%/yr in July. However, electricity and travel prices contributed to the majority of the forecast miss and will likely unwind in coming months. The Minutes of the August Monetary Policy Board meeting highlighted a shift in focus for
Australia’s auction market has gathered strength over recent months. Last week’s national final auction clearance rate of 70.0% was the strongest result since the week ending 11th February 2024 (70.3%). This weekend’s preliminary auction clearance results showed further strength, with Cotality reporting a national preliminary clearance rate of 76.3%, a full percentage point higher than
Goldman with an important note. We have previously argued Australia’s labour market is not inflationary because indicators that contain the most predictive power for wage growth have already normalised. Nonetheless, the unemployment rate is historically low, boosted by employment in the healthcare & social assistance industry, and it is not obvious why this has not
DXY is down, down. AUD is up, but it’s still a grind. Lead boots to the moon! Commods too. Big bear intact. EM launch! Junk vertical! Yields pounded! Stocks roar! So many exclamation marks in one post means it can only be dovish Fed. Jay Powell at the bottom of the Jackson Hole. Putting the
The Market Ear. Watching the sensitive stuff ETH trying to tell tech something? These two have moved in perfect tandem over the past 2 months, but the latest gap is becoming very wide. Source: LSEG Workspace The worrisome part of the calendar The S&P 500 down 5 days in a row – front-running the calendar
DXY is back. AUD has entered freefall. CNY is fine. Gold is confused. Metals are nervous. Big bear intact. EM swoon. Junk hiccupped finally. As yields broke higher. Stocks kept falling. There wasn’t any earthmoving data. All eyes are on Jay Powell. Goldman says he’s going to break. Goldman economist David Mericle expects Powell to
Australian stocks led the way to a new record high today but the rest of Asian share markets were mainly down across the board as risk sentiment continues to shift further into negative space as we all await the Jackson Hole conference tomorrow. The USD remains on a small rally against the majors although Euro
APA Group with the news. AFR. The chief executive of the country’s biggest gas transporter, APA Group, has fired off against plans to import LNG to avert a potential gas shortage, warning that the high cost of imports risks turning consumers and industry against gas altogether. Adam Watson said importing liquefied natural gas into the
There is nothing a central banker likes more than to waste money while forcing everybody else into austerity. The cost of renovating the RBA’s asbestos-ridden head office in Sydney’s Martin Place has risen to $1.2 billion, prompting the newly installed governance board to consider selling the building and walking away from the troubled project. The
Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and distressed debt manager Jonathan Rochford run through the problems facing Australia and it’s tumble down the productivity tables. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen is Chief Investment Officer at the Macrobusiness Fund,