According to the Australian Bureau of Statistics (ABS), 1,044,160 net permanent and long-term arrivals have landed in Australia since the Albanese government took office in June 2022. New data from Jobs & Skills Australia, collated by Justin Fabo of Antipodean Macro, demonstrates that the record net overseas migration has done nothing to alleviate high-skilled labour
The latest sales data is flatlined. Sentiment flatlined. Inventory a bit better. But the completions cliff appears to be here. Not good for bulks as steel breaks down. ‘Dem jaws is wide.
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On last week’s ABC Q&A program, federal health minister Mark Butler claimed the government has “been working very hard to get migration levels, immigration levels down to something we think the country can manage”. Wow, the gaslighting when it comes to immigration and housing is off the charts. Check out this excellent question and the
The latest House Income and Labour Dynamics in Australia (HILDA) survey, conducted by the University of Melbourne and the Melbourne Institute, showed an increasing wealth disparity throughout the country. As illustrated below, older Australians’ wealth increased the most over the past 20 years. Australians aged 75 and over experienced by far the largest percentage increase
DXY is through the trapdoor. EUR to the moon. Even so, ‘risk off’ hit AUD. Lead boots are walking to Mar-A-Lago. Golden rocket. Oil abortion. The world does not need Goldman’s copper play Playing copper via diversified miners is stupid. EM meh. We need much more pain in junk. Yields eased. New inversion deepened. Stocks
As Trump waited an hour to speak to his Russian handlers overnight, news of more tariffs coming April plus some lackllustre results in tech stocks (while Tesla’s burn everywhere) sent Wall Street lower while European stocks continue to outperform. Meanwhile the USD slipped further against Euro and Pound Sterling while building against Yen in anticipation
The Market Ear on the roaring bear. Hitting the head in the trend line SPX’s short term negative trend line remains intact for now. We need to break above this to have a clear technical signal. Source: Refinitiv No de-gross Hedge fund current peak to trough de-gross still not extreme compared to August and December
Global energy analysts Doomberg published a stinging critique of Australia’s energy policy, entitled Power Blunder Down Under. “The country is hurtling toward a pronounced energy crisis, yet its political leaders seem deaf to the warnings and blind to its true causes”, Doomberg reported. “Having demonized traditional sources of energy, Australia is now all but certain
The Guardian’s Peter Mares penned a spurious article claiming that building smaller homes would boost Australia’s productivity. Walking past a building site in Sydney recently, I was struck by the pitch for the new homes under construction. “Outrageously spacious”, proclaimed a hoarding spruiking apartments with “2 living areas, 2 dining areas, 3 car parks, 4
Another positive day for stock markets here in Asia as risk switches back to on following the big rebound on Wall Street from Friday night although local stocks struggled to make headway. The USD is trying to fight back as it remains weak against Euro and Pound Sterling although is pushing higher against Yen this