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.
Wall Street stumbled amid a mixed bag of economic releases as traders pivot towards Friday’s NFP print. US 10 year Treasury yields remain elevated at their recent monthly highs but a little too quiet, while the USD is gaining strength against the majors particularly Euro and Canadian Loonie while the Australian dollar has slipped to
Australian property has benefited from numerous support mechanisms and government interventions to bolster its fortunes in the years since the pandemic began. $188 billion in funding from the RBA to the banks at just 0.1% interest, facilitating the rise of 3-year fixed-rate mortgages at under 2%. This led to 40% of all Australian mortgages being
Asian share markets are not doing well despite a strong lead from Wall Street overnight with commodity volatility one of the culprits as oil prices move lower as silver explodes higher. Currency markets are seeing a little bit of stability with USD losing some ground against Yen but outperforming Euro and Loonie. The November inflation
An American madman is loose. At a press conference on his plane as he returned to Washington for a new political year he entertained the idea of targeting another four nations. He started with Colombia, which he said had a leader who “likes making cocaine” but is “not going to be doing it very long”.
Everybody wants a royal commission into anti-Semitism, apparently. With the government’s reasons for opposing a royal commission being widely panned and the inquiry being backed by leading figures in the business, sporting, legal and security sectors, the issue was scheduled to be debated earlier this week at a meeting of the national security committee of
With the release of the latest ABS Building Approvals data, it was revealed that non-detached house approvals had risen to their highest level since June 2018, up by 34.1% month on month and 55.3% year on year to 8,463 for the month of November. Meanwhile, approvals for detached houses were up by 1.3% for the
When in late November the ABS delivered it’s first complete monthly inflation print, it immediately triggered a dramatic repricing in interest rates and economists predictions for future inflation. When the AFR polled 38 economists for their views on where interest rates were heading prior to today’s monthly inflation print, 17 out of 38 predicted that
Is a widening commodities bid suggesting reflation? Or a bubble? OR something else? The Market Ear. No inflation… ….unless you need commodities. Are we in the early stages of reflation? As Goldman’s Privorotsky writes: “…either points to a broad dollar devaluation or a rapid re-acceleration in the global economy.” Chart 1 shows BCOM vs US