As predictable as the dawn. As the northern hemisphere enters it’s off peak seasonal restock of LNG and prices firm up, Australia’s gas price is following north of Albo’s $12Gj price cap joke: As night follows day, the electricity price is ripping: Never fear. It won’t hit your bill because Treasurer Jim “Chicken” Chalmers concocted
The Albanese government’s net overseas migration (NOM) forecasts have consistently undershot the actual outcomes. Last year’s federal budget forecast 400,000 NOM for 2022-23. The actual official figure came in at 528,500 for 2022-23. The forecast of 315,000 NOM for 2023-24 was then revised up to 375,000 in December’s MYEFO and then to 395,000 in Tuesday’s federal
Australia’s housing system is caught in a vicious cycle. The federal government has locked in permanently high population growth via net overseas migration (NOM). Even if the federal government is successful in lowering NOM to levels projected in the latest Intergenerational Report, illustrated in the next chart: This would see Australia’s population surge to 40.5
Using cost-of-living subsidies to reduce headline inflation is a “political trick,” according to former Reserve Bank board member Warwick McKibbin. The Reserve Bank of Australia’s 2 to 3 percent target range for inflation is expected to be re-entered by the end of the year, according to the budget, far sooner than the RBA had predicted,
The NAB Survey for April was not pretty for workers. Business confidence and conditions slipped 2 points to +7 index points, below the 10-year average but around the long-term average of the monthly series. Confidence remained positive at +1 index points. However, the employment sub-component fell 5 points to +2 index points, the lowest level
DXY is frozen: AUD looks a little bullish: North Asia is not helping: The AUD bears are running for the hills: Oil is meh: Goldman’s copper bubble is inflating nicely: Opening big miner jaws: EM breakout signals weak US CPI to come: Junk is back: Yields and stocks are frozen: Markets await this week’s US
As we know, there has been some recent hope for a rescue of a new Chinese property. The most recent report from the April 30 Politburo meeting seemed willing to consider a different strategy for handling the real estate crisis, advocating for concerted efforts to demolish the stock of existing homes. The problems with the
An unexciting first session of the trading week on overnight markets as both European and US stocks struggled to put on any gains in the absence of good macro news, with Fedspeak still focusing on inflation fears while the latest earnings didn’t impress either. The USD is starting the week slightly lower against the majors
The Market Ear on the latest macro set up for stocks. 5000/5300 The great range remains intact. Playing breakouts, either way, continues to be an expensive strategy. Refinitiv They front ran The systematic crowd “front ran” a further move lower in markets…and are now in chase back longs mode. To us this looks like trading
The Albanese government will present legislation to limit the number of students enrolled in each institution or college. Under measures announced over the weekend, Labor plans to alter the Education Services for Overseas Students Act to allow the education minister the authority to establish enrolment caps at each institution, including for certain courses or locations.