I have long argued that RIO’s treasonous Simandou mine is the Pilbara and QLD killer via crashing iron roe and coking prices. Increasingly, it is also a plain and simple killer of human beings. 13 worker deaths reported at Simandou since June 2023, sources and documents say Some safety guidelines not implemented, according to sources
The Market Ear technicals still say buy! Inverse fear correction VIX is getting “sick” of the SPX move lower. Source: Refinitiv VVIX definitely not buying it VIX is muted, but VVIX is even more muted. Volatility markets showing green shoots of hope? Source: Refinitiv 12th of March = low point & turning point That’s it
DXY is bank. Overcooked EUR in reverse. AUD went down with the ship. Led boots are made for stability. Oil down, gold up. Copper is the new gold. Miners are not. Nor EM. In better news for stock bulls, junk is breaking down. Yields fell too. The US PPI was soft. There’s still no sign
On Wednesday, I posted charts showing the record decline in Australian real per capita household disposable income. Annual real per capita household disposable income fell for a record tenth consecutive quarter, down 8.1% from the Q2 2022 peak. The magnitude of this decline is illustrated in the following chart, which compares the current episode against
Prime Minister Anthony Albanese announced in November 2024 that the federal government would forgive 20% of student debt if re-elected. The Greens took the proposal to the next level, vowing to forgive 3 million graduates’ student loans and make university and TAFE education free, at a cost of more than $120 billion over the next
In August 2024, the Actuaries Institute stated that rising home insurance prices were causing financial strain for 1.6 million Australian households. This marked an increase of 360,000 households under stress, or 30% over the previous year. According to Sharanjit Paddam, the lead author of the Actuaries Institute study, insurance premiums were rising faster than wages,
The Market Ear gives us smashed stocks. General awakening NVDA gonna take this market higher in the short term? Source: Refinitiv Not so sexy SOX… ….but it sure is sexy when you catch the moves. SOX has done little since last Feb, but the moves inside the range have been well rewarding for the mean
Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen checks in on the markets after recent large falls and discusses what to watch for going forward. Can’t make it to the live series? Catch up on the content via Podcasts or our recorded Videos. Damien Klassen is Chief Investment Officer at the Macrobusiness Fund, which is
Australia’s last major plastics manufacturer, Qenos, closed last year due to high energy costs. Now, Australia is wholly reliant on imported plastics from China. In February, Australia’s only architectural glass manufacturer, Oceania Glass, collapsed after 169 years of operation, amid soaring gas costs. Oceania Glass was Australia’s only manufacturer of architectural flat glass, producing and
For a while there it was almost as of iron ore might turn rational and close its jaws with steel prices. Soon enough! Goldman on Chinese construction conditions. We continue to monitor the trend of post CNY construction activities after coming back from our China trip and conducting machinery dealer channel checks. This week, we