Overnight saw Wall Street stumble for the fifth consecutive session as traders get nervous about tonight’s Jackson Hole meeting and possible big changes at the Federal Reserve proper as the Trump regime wants to install sycophants on the board ASAP. The USD is seeing more signs of a strength with a strong flash PMI overnight
Recall that the federal government has set a fantastical target to construct 1.2 million homes over five years, from 1 July 2024. This target would require a level of construction that has never been achieved before. The highest single 12 months of construction in Australia’s history was achieved in Q1 2017 when 223,600 dwellings were
On Wednesday evening, I received an email from an Australian Bureau of Statistics (ABS) media officer suggesting that I have misled the public by quoting the ABS’ monthly net permanent and long-term arrivals data. The article where I have purportedly misled can be read here. The email, presented below with the officer’s name removed, claimed
Australian stocks led the way to a new record high today but the rest of Asian share markets were mainly down across the board as risk sentiment continues to shift further into negative space as we all await the Jackson Hole conference tomorrow. The USD remains on a small rally against the majors although Euro
Cotality has released its final auction results for last weekend, which recorded a clearance rate of 71.7% for Sydney—the highest of the major capital cities. Sydney’s clearance rate held above the 70% threshold for the third consecutive week, coming in at 71.7%—the strongest result in five weeks. Sydney’s monthly average final auction clearance rate now stands
APA Group with the news. AFR. The chief executive of the country’s biggest gas transporter, APA Group, has fired off against plans to import LNG to avert a potential gas shortage, warning that the high cost of imports risks turning consumers and industry against gas altogether. Adam Watson said importing liquefied natural gas into the
There is nothing a central banker likes more than to waste money while forcing everybody else into austerity. The cost of renovating the RBA’s asbestos-ridden head office in Sydney’s Martin Place has risen to $1.2 billion, prompting the newly installed governance board to consider selling the building and walking away from the troubled project. The
Join us this week as Nucleus Wealth’s Chief Investment Officer, Damien Klassen and distressed debt manager Jonathan Rochford run through the problems facing Australia and it’s tumble down the productivity tables. 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,
With the release of the Reserve Bank of Australia’s (RBA) latest Statement on Monetary Policy last week, the media focus was swiftly placed squarely upon the RBA’s forecast that productivity growth would be anaemic 0.7% per year on a long-term time horizon. But buried in the RBA’s lengthy forecast table was perhaps an even more
The ferrous complex remains weak despite an overnight convulsion. Led by steel prices is bearish. Bloomberg. Some mills in Tangshan had received notices to restrict sintering machines by 30% from late August to early September, while other plants had been ordered to cut blast furnaces by 40%, according to a survey of 21 mills by