NSW Premier Chris Minns aims to alleviate Sydney’s housing crisis by expediting the supply of shoebox apartments. Minns last week accused previous governments of being “timid” due to “the NIMBY [Not In My Backyard] backlash” but argued that the conversation had changed to “opening the gates to more urban consolidation and development”. “I think Sydneysiders
I have been bullish on gold for a year or more. The Market Ear sets us up. Decision time in gold Gold is back flirting with the short term negative trend line. The bounces on the 50 day and the long term trend were once again schoolbook examples of buying dips in strong trends. A
Cotality (formerly CoreLogic) has reported a tightening in rental vacancy rates over recent months. This tightening is illustrated below by Justin Fabo from Antipodean Macro. Vacancy rates have tightened across the board and are tracking below 2% across all capital city markets. Despite the lower vacancy rates, Cotality reported a moderation of annual asking rents
It’s bloody painful, but slowly iron ore is being ground down. The PMIs were no help at all. The NBS manufacturing PMI increased from 49.0 in April to 49.5 in May. The new export order sub-index, which dropped from 51.8 in March to 49.2 in April, climbed to 49.8 in May. But, the NBS construction
The official Q1 CPI inflation print from the Australian Bureau of Statistics (ABS) showed that the policy-important trimmed mean inflation rate declined to 2.9% year-on-year, within the Reserve Bank of Australia’s (RBA) inflation target of 2% to 3%. RBA Governor Michele Bullock’s media appearance following last month’s 0.25% rate cut suggested that she was less
DXY is breaking down again. AUD at the top of the range. Lead boots no more. Gold poised for more. Oil bought the fact. Metals are eyeing DXY. Nothing can save big miners. EM meh. Junk is worried. Yields are up as DXY is down. Markets HATE Trump tariffs. Stocks eked out gains. The
It was all about the TACO trade overnight as Wall Street rallied on an extension of Chinese tariff pauses despite a lot of vitriol between Trump and the Middle Kingdom about breaking the recent trade deal. Meanwhile the Trump regime is still waiting on “best offers” from other nations with a new Wednesday deadline which
Wind power has become a significant contributor to the electricity supply in Australia. As of September 2024, Australia had an installed wind capacity of around 13.3 GW. Wind power accounted for 13.4% (or 31.9 TWh) of Australia’s total electricity production in 2024. The Albanese government has set a target of producing 82% of Australia’s electricity
Cotality’s (formerly CoreLogic) latest housing affordability report showed that the cost of purchasing and renting a home in Sydney was the worst on record at the end of 2024, as well as the highest in the nation. As illustrated above, Sydney’s dwelling value-to-income rate was 9.8 at the end of 2024. It required a typical
More hesitation on risk markets as the weekend news of increased tensions on Chinese and US trade, including more off the cuff tariff announcements from the TACO-in-Chief unsettles the new start to the trading month. Currency markets area again winding up strength against the USD in response with the Australian dollar breaking out and accelerating