The AFR’s Julie Hare reported over the weekend that “foreign students are leaving Australia in droves after visa crackdown”: “Net migration for international students was down 55% in the latter part of 2023 as departures far outpaced arrivals in the last two months of the year”, Hare wrote. “Australian Bureau of Statistics data shows that
CBA economist Harry Ottley has published a chart pack that illustrates the dire consequences of record net overseas migration on Australia’s rental market. Residential building approvals have collapsed across the major jurisdictions: House commencements have also collapsed: Apartment commencements have likewise collapsed: The next chart summarises the situation at the national level, with approvals, commencements,
Ah, the good old days. When political operatives were intellects and patriots first. Party hacks second. I give you Bill Kelty at The Saturday Paper destroying Treasury unreformer Jim “Chicken” Chamlers. Many people have paid a high price for some very bad policy decisions: when governments stopped building homes for the poor in the numbers
All we need is a proper gas reservation regime on the East Coast to supply our own super cheap gas to ourselves ahead of giving it all away to China, and this goes away: The energy industry has hit back at a proposed system allowing state governments to seek temporary extensions for [coal] power station
Friday night saw the follow up release of the US PPI inflation print that also came in hotter than inspected but didn’t garner the same reaction earlier in the week with the USD relatively steady and bond markets also calm. Wall Street fell back a little but remains near a record high with European stocks
The Market Ear on the big stretch. Finally, stretched The GS sentiment indicator that measures positioning across various investors finally crawled back to “stretched” which should indicate lower returns going forward. Not a sell-signal per se, but “in the zone”. Goldman Et tu Bull-Bear? Can we get a nice “betrayal of the bulls” sell signal
If you want a textbook example of why the Australian Greens cannot be trusted, check out the below lies from housing spokesperson Max Chandler-Mather on Sunday’s ABC Insiders program. Chandler-Mather point blank lied that record immigration has had minimal impact on the nation’s housing market. He has also called for an even larger intake, claiming
Attention anybody. Australian gas is now comfortably the most expensive anywhere on planet earth: US $2.50Gj Europe $8.70Gj net back. Asia $10.60Gj net back. Australian gas is $11.73Gj. It comes out of the ground for next-to-nothing up the road: Canberra has a spaghetti bowl of existing and possible regulations to fix this in an instant:
CoreLogic has released its preliminary auction results for the weekend, with the preliminary clearance rate soaring across Sydney to its highest level since mid-October 2021 despite the strongest volumes this year: Sydney held 688 auctions this weekend, resulting in a preliminary clearance rate of 81.7%. Melbourne held 961 auctions, with 72.2% selling at auction thus
Oddly, DXY fell after a red hot PPI: The entire market pivoted back to value over growth. AUD pumped: North Asia sleepy: AUD bears have surged on CFTC. Hard for the currency to fall much now: Oil is trending higher. Big trouble here if it rolls on: Dirt popped: Miners too: EM up: EM junk