Hi all, A quick note to offer guidance on the new website. As well as the layout changes that make it easier to access content for new readers, it comes with a dramatically improved sign-up and resubscription process, greatly enhanced speed, and a much better mobile experience (since 95% of traffic is now phone!). The
The ferrous jaws are all but closed after a Friday flush. CISA early February data was out and was not good. We are well below 2025 output here, though the later CNY is playing a role. Steel inventories climbed 2.7%. As you can see, mills are about to pile it up over the Chinese New
I am an avid follower of leading Sydney auctioneer Tom Panos. I always watch his Saturday auction market report on YouTube for insight into the market’s pulse and developments in the real estate industry. In this weekend’s update, Panos took direct aim at the Albanese government’s rumoured changes to the capital gains tax (CGT) discount,
By Lucinda Jerogin, Associate Economist at CBA RBA appearances last week reinforced the cautious but hawkish leaning nature of the Monetary Policy Board. We continue to expect a 25bp rate hike in May to take the cash rate to 4.10%. The value of new housing loan commitments rose sharply in Q4 25 (+9.5%/qtr), driven higher
This week’s news that Sussan Ley has been rolled by Angus Taylor has largely been met by yawns. Who really cares? Nobody in their right mind thinks the Liberals are anywhere near being able to return as government. They are still redolent of the party in power, which did essentially nothing for three terms while
The latest interest rate hike from the Reserve Bank of Australia (RBA) has failed to dampen enthusiasm in the housing market. The final auction results from last week were solid, with 66% of the homes sold and February’s clearance rates rebounding from late last year: The momentum continued this weekend, despite a strong uplift in
For January, the Australian dollar was the key story. At an index level, Australian stocks rose 1.5%, but international stocks (largely due to the Australian dollar) fell 2.5%. Our funds were well-positioned for the change. Our core international fund bucked the trend to rise 1.9% for the month. Not holding as many US stocks helped,
International Reading: How Europe outsmarted US tariffs without escalating the conflict. – Cenrix Cuban Peso Hits Record Low as Life Grinds to a Halt, now trading at 500 peso per US dollar. – Hot Air Trump DOJ Launches Bunk Investigation Of Netflix Merger As a Favor To Larry Ellison – Tech Dirt The 45-year decline
There is a lot of paranoia about AI. And we should be worried about it taking jobs too quickly, worsening inequality and mental health effects. But you also need some perspective. Not everything AI-related is a cause for concern. Water is one. In my view, data centres using water are a local issue; their overall
The ‘Yes in My Backyard’ (YIMBY) movement has long argued that the solution to Australia’s crisis lies in upzoning our cities to permit high-rise apartments in more locations. YIMBYs often point to the Auckland Unitary Plan (AUP), implemented in 2016, which allowed the upzoning of approximately three-quarters of Auckland’s residential land area. The Grattan Institute
According to a recent analysis by social media creator statistics website Feed Spot, which breaks down the number of Only Fans Creators per country, the United States boasts the highest number with 1.1 million. This has led to quite a headline, with 1 in 315 Americans a creator on Only Fans. But when one starts
The Australian Bureau of Statistics (ABS) on Thursday released monthly overseas arrivals and departures data for December, which continued to show strong growth in the number of people arriving and intending to stay in Australia for 12 months or more. In 2025, a net of 480,520 people arrived in Australia on a permanent or long-term
Charts from TME. Tech is in a spot of bother. Tech volatility is trending the wrong way. What is the problem? AI capex is insane. The market is now caught between concerns about the ROI of these hyperscalers and the impact that such capacity will have on all industries that can deploy AI apps. VIX
The Albanese government last year dumped its controversial proposal to tax unrealised gains on superannuation balances above $3 million without indexation. On Wednesday, Treasurer Jim Chalmers introduced legislation in the House of Representatives to amend Division 296 and impose additional taxes on superannuation balances over $3 million, with thresholds indexed to inflation. If passed by the
A number of prominent Chinese economists have argued in favor of loosening restrictions on the movement of money into and out of the country. They argue that a weakening dollar presents a special opportunity to raise the value of the yuan abroad. According to Miao Yanliang and Ju Jiandong, this year and next represent a
I reported on Thursday on the record lift in mortgage commitments for first home buyers in the fourth quarter of 2025, driven by the Albanese government’s expanded 5% deposit scheme, which came into effect on October 1, 2025. The December quarter of 2025 saw $19.310 billion in lending to first home buyers, an increase of
DXY stopped falling last night, possibly as Trump withdrew ICE from Minneapolis. The AUD strongman refused to fall as much as broader risk supported by North Asia. I do not think that Beijing will allow the CNY upside acceleration for very long. Gold and oil fell after the American madman suggested Iran talks should continue.
An angry Michelle Bullock won’t hear a bad word about the Australian economy. Reserve Bank governor Michele Bullock has fired back at Nationals senator Matt Canavan after he accused her of “gaslighting” Australians over the state of the Australian economy. Ms Bullock has also rejected repeated efforts by the federal opposition to pin the blame
Following the reopening of international borders after the conclusion of the Covid-19 pandemic, Canada experienced a record surge in immigration alongside a corresponding rise in rents. The following chart from the National Bank of Canada from February 2024 illustrates the situation at the time, with both population growth and rents exploding: Temporary residents drove Canada’s
Charts from TME. Tech continues to range trade, reminiscent of 2024/25 when it ultimately fell out of bed. Tech volatility continues to trend higher as well One possible threat to tech is oil, which is pushing the upper limits of its downtrend. If it were to break out and put pressure on long-end yields, tech
The Albanese government’s expanded 5% deposit scheme for first home buyers came into effect on October 1, 2025. The First Home Buyer Guarantee program enables eligible buyers to purchase a home with a 5% deposit, with the federal government guaranteeing the remaining 15%. This means buyers avoid paying Lenders Mortgage Insurance (LMI), save $10,000–$30,000 depending
AGL Energy is the latest to warn that Albo’s gas dog’s breafast is delaying critical investment needed to prevent supply shortfalls later this decade. Chief executive Damien Nicks said the absence of detail about how the scheme would operate was already affecting contracting and capital decisions, cautioning that ambiguity risked chilling new supply. The federal
In this week’s podcast, MB Fund’s Chief Investment Officer, Damien Klassen, unpacks how AI is rapidly devouring the software sector — examining why AI leaders are absorbing ever-larger slices of market cap, what’s driving the widening performance gap, and what this power shift means for investors positioned in traditional software stocks. Download presentation slides here
Data centres contribute significantly to greenhouse gas emissions, primarily through electricity consumption, and their impact is growing as demand for digital services increases. According to the International Energy Agency (IEA), data centres are responsible for approximately 1-1.5% of global electricity use, which translates to around 330 million tons of CO2 equivalent emissions annually. This figure
When your leadership challenge turns into a joke before it even starts, it’s not a good look. Crikey. I rarely agree with Crikey these days, but Bernard Keane is right about this. Is Angus Taylor carrying out the single worst major party leadership challenge in Australian political history? …The stuttering, bumbling, on-again-off-again nature of Taylor’s
Australians have a resolute belief in the property market. The discount variable mortgage rate has soared from a low of 2.4% in April 2022 to a peak of 6.25% between November 2023 and January 2025 before falling to 5.5% following last year’s three 0.25% rate cuts from the RBA. Despite the surge in mortgage rates,
