Last week’s federal budget revealed that the cost of the National Disability Insurance Scheme (NDIS) will reach $50.8 billion next financial year, exceeding the $51 billion allocated to the defence budget. The cost of the NDIS is also projected to reach $63 billion by mid-2029. The growth of the NDIS is the key driver behind
The ABC has lost the plot entirely. The relationship between Peter Dutton and resources billionaire Gina Rinehart has soured over the Coalition leader’s plan to force energy giants to sell gas into the domestic market at a likely loss. The ABC also understands that Ms Rinehart’s enthusiasm for Mr Dutton has waned in recent weeks
This week, the Housing Industry Association (HIA) released data on new house sales, which continued to disappoint. As illustrated below, the number of private new home sales fell by 0.6% in February and has shown little movement in two and a half years. Moreover, as shown by Justin Fabo from Antipodean Macro below, new house
The ferrous jaws closed somewhat with all commodities last night. Chinese steel demand is pretty meek, according to MySteel. Production is a bit better but won’t be as export markets dump with tariffs. There’s a lot of front-loading that’s been done. And now for a demand hole on the other side of it.
It kind of crashed last night. We are once again at the pesky $70 Brent support level. Surely, this time, it breaKS. The key is this. Bloomberg. In a video conference on Thursday, the coalition of crude producers led by Saudi Arabia and Russia was expected to simply remind errant members to respect their output
Shadow treasurer Angus Taylor defended the Coalition’s proposed East Coast gas reservation policy in a National Press Club Q&A on Wednesday. Taylor argued that requiring gas exporters to redirect a proportion of their output to the domestic market will result in the price of gas falling below $10 per gigajoule for all households and businesses.
The Australian reported that international student visas have “dived” amid de facto caps implemented by the Albanese government. Data compiled from the Department of Home Affairs shows that the number of student visa applications in the first two months of 2025 was tracking significantly below the levels of 2023 and 2024. The number of student
The Market Ear with the charts. The big one SPX is approaching the huge trend line that has been in place since Covid lows. Source: Refinitiv No… …nothing good happens below the 200 day moving average. SPX has not traded this much below the 200 day in a very long time. The “light” death cross
A bath of blood overnight on all risk markets with the NASDAQ dropping 6% while the S&P500 lost nearly 5% as bond markets surged on a rush to safety and the USD was hit on all fronts with undollars lifting 2% or more against what was “King” Dollar before wannabe King Don upended the global
DXY was pulverised. Which held AUD up, though not against EUR. CNY was hit. Oil crashed as OPEC decided to pump. The copper bubble goes “pop”. Base metals head for hard landing. Big miners, big damage. EM meh. Junk breaking at last. Yields are in free fall, but a long way to go to make