In the years since the Global Financial Crisis, the Australian economy has become ever more reliant on government for positive outcomes. Much of the revenue required to underpin this ongoing intervention has been derived from the explosive rise in resource exports, which rose by well over 200% at their peak in 2023 compared with their
Asian share markets are not doing well as the positive lead from Wall Street dissipated overnight with commodity volatility continuing to dominate other risk markets while bonds go sleepy. Currency markets are selling off commodity currencies while Euro and Pound Sterling are trying to stabilise after a wobbly start to the new year, relatively speaking
The Market Ear on where we are. SPX stuck SPX remains stuck in the wide range that’s been in place since September. We’re now sitting in the upper end of that range, an area that has rejected price on three prior occasions, with 7000 (futures) standing out as major resistance. Mean reversion has been the
Readers will be well aware of the looming global LNG glut. Global LNG output rose 6% in 2025 and is expected to grow for at least another four years on the back of record-setting investment in new facilities. This year alone, two giant projects — Golden Pass in Texas and a major expansion in Qatar — are
The Albanese government’s 5% deposit scheme for first home buyers, which came into effect on 1 October, has pushed the last of Australia’s affordable housing beyond reach. Lower-priced properties, or those covered by the extended Home Guarantee Scheme price caps, have generally seen better growth since September of last year, according to new Cotality study.
The iron ore jaws are opening wide. Put your hand in if you dare. The widest in three years, in fact. Scuttlebutt is excited! Iron ore futures rallied on Wednesday to their highest in multiple months, boosted by hopes of improving demand in top consumer China following Beijing’s pledge of easing monetary policy this year.
During Bill Clinton’s 1992 campaign for the U.S. presidency, campaign strategist James Carville coined a now-legendary catchphrase. Those four simple words were: “It’s the economy, stupid”. While originally intended as a campaign motto to maintain on-message, it became a de facto campaign slogan that remains a point of focus to this day. But in the
Yesterday’s monthly inflation number was softer than expected, easing fears of a February rate hike. Summing up, headline CPI was lower than Westpac had anticipated, coming in at 0.0% for the month as opposed to its projection of 0.4%. This puts Westpac’s current December quarter nearcast of 0.6%qtr for the Headline CPI and 0.8%qtr for
As things currently stand, the Albanese government possesses the largest majority achieved by any postwar federal Labor government at the ballot box, holding 94 out of the lower house’s 150 seats. Meanwhile, unlike other governments of the recent past that were heavily reliant on a broad range of Senate crossbenchers, Labor needs only the support
DXY has shown signs of life since El Trumpo crashed the world order. AUD has nonetheless been riding the Asian assets party. Which ended yesterday. Gold is overbought again. Oil is doomed. The metals blowoff collapsed under its own weight. Big miners are parabolic. EM in free air. None of it is supported by spreads.