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
Global diesel prices are tracking at record highs in real, inflation-adjusted terms as conflicts in the Middle East and Russia continue to disrupt refinery operations and export routes. The wars have damaged some refineries while leaving others unable to maintain normal output because they cannot source enough crude oil or export the fuels they produce.
The Australian Public Service has expanded by about 25% since the Albanese government took office in June 2022. The budget papers show that staffing costs are expected to be $19.6 billion higher over the next four years than previously anticipated, with further increases expected from upcoming enterprise bargaining wage agreements. An AFR analysis of the
For months, I have been calling for the abolition of the pension income test so seniors can take on additional work without losing access to the Aged Pension. A broad coalition of groups recentlyĀ backed the call, arguing that retaining more people in the workforce longer reduces the need to fill skill gaps with migrants. ABC
Victoria has legislated a target to source 95% of its electricity from renewable energy by 2035. This is one of Australia’s and the world’s most ambitious renewable energy goals, designed to accelerate the stateās transition away from cheap brown coal and toward cleaner energy sources such as wind, solar, and storage. The Renewable Energy (Jobs
Gold broke through $4000 support Friday night. This is starting to look ugly. CFTC is still long. Robots haveĀ sold more. I am still cautious, but nibbling here makes short-term sense. The major issue remains yields and the Iran war, and any post-midterm escalation. Bonds will be bid as the market prices in a growth shock,
On Tuesday (Wednesday Australian time), the American people will go to the polls for one of the most consequential midterm elections in living memory, as President Donald Trump’s Republican Party attempts to defend their control of Congress and the Senate. At this stage it’s not looking favourable for the President, with aggregate polling analysis from
Once again, Cotality’s official dwelling value results for November have been heavily downgraded, with values falling far more sharply than its daily dwelling values index suggests. Let me explain. Cotality’s daily dwelling values index, which tracks home values across the five major capital city markets, recorded a 4.1% quarterly decline at the 5-city aggregate level:
US midterm elections donāt usually determine the direction of markets on their own. But this time, the result could have an unusually important influence on how much room Donald Trump has to pursue his economic agenda in the second half of his term. For investors, there are four broad scenarios worth considering. 1. Republican Win:
The bottom has well and truly fallen out of Australia’s auction market, with Cotality’s final clearance rate for last weekend collapsing to only 43.6% nationally, the worst result since late June: Auction volumes were also tracking 42% lower than the same weekend last year. Every capital that held auctions last week had a lower clearance
International Reading: Trump fired him. The āDEI Watchlistā shamed him. Then came 500 job rejections. – Washington Post As US ties fray, Europe plans first undersea cable link to Greenland – Ars Technica Half of Americans are skipping meals because grocery prices are so high, poll finds – Independent Banks and healthcare firms are outbidding
Twelve years of Labor government have completely destroyed Victoria’s finances. When the Andrews government took office in late 2014, Victoria’s net debt was only around $20 billion. Today it is more than $165 billion and is forecast to hit around $200 billion by the end of the decade. The per capita level of state debt
TME with a big roundup of equity charts. Soggy tech, Russell revived The market is starting to look very different beneath the surface. Nasdaq remains trapped in its trading range, tech volatility continues to command a substantial premium, and CDS stress refuses to disappear. Meanwhile, Russell has staged an impressive comeback, reclaiming its 200-day moving
In the years prior to the pandemic, Victoria came far closer to living up to the slogan which one emblazoned its number plates ‘The Place To Be’, than it does today. In 2018-19, it had the fastest growing rate of Gross State Product per capita of any of the major states, running at a rate
Gas reservation, such as it is, has finally arrived. A plan to ease power bills by pumping the Australian energy market with an oversupply of gas will now likely become law despite lingering concerns from industry and environmentalists. Labor’s domestic gas reservation scheme will force producers to set aside 20 per cent of their annual
The Albanese government is trying to censor debate via its Digital Duty of Care Bill, which would make the eSafety Commissioner the central regulator with significantly expanded powers to police what we say online. In a doorstop address at Parliament House on Thursday, Prime Minister Anthony Albanese announced that the Digital Duty of Care Bill
DXY is still chopping wood while EUR tries. AUD has North Asian support. The twins keep dooming it up. Metals are serene. Miners not so much. EM is a concern. But junk is trying it on. As the long bond rallies. Stocks are confused. US growth was good in Q3, driven by AI capex to
War headlines today. Iran bombs 4 tankers. Houthis bomb Riyadh again. Russian diesel exports resume as Ukraine stops refinery attacks. Israel in political deadlock, Brent was up and diesel was down as cracks narrowed. LNG is a rocket. The Dem sweep odds firmed, even as diesel eased. RBC weighs in. While Democrats are favored to
In April this year,Ā Professor Bruce Mountain and former energy executive Ted Woodley warned that Snowy Hydro 2.0 could ultimately cost $42 billion, comprising direct construction costs of $20 billion, transmission infrastructure costs totalling $12 billion and interest charges of $8 billion over 15 years: They said that Snowy 2.0 was a “dreadful idea” from the
Sydney’s housing correction has reached a new milestone, with dwelling values down 10% from their 6 March 2026 peak, according to Cotality’s daily dwelling values index. Sydney’s current decline of 10% ranks below the record 12.9% peak-to-trough fall recorded between June 2017 and May 2019, when the banking Royal Commission, APRA’s curbs on investor mortgage
Over the past decade, taxpayers have heavily subsidised virtually every large-scale renewable project undertaken in Australia. To meet the federal government’s 82% renewable energy target (RET), Australia must retire most of its current coal fleet and replace it with about 6ā7 GW of new large-scale renewable generation annually, along with several gigawatts of storage. However,
In this weekās podcast, Nucleus Wealthās Chief Investment Officer, Damien Klassen, digs into the financial mess behind AIās problem children ā from mounting debt and soaring infrastructure costs to delayed data centres and projects being put on hold. We examine what the troubles at companies like CoreWeave and NEXTDC reveal about the risks beneath the
I almost admire Andrew Forrest today. Andrew Forrest wants diesel gone from Fortescueās Pilbara mines by 2028, as the mining magnate lashed US President Donald Trump and Russiaās Vladimir Putin for pushing up the cost of living for Australians. Speaking at Fortescueās annual shareholder meeting on Wednesday, Dr Forrest said both Australiaās mining industry and
ABC 7.30 Report ran a segment on how Australia’s rental crisis is forcing tenants into group accommodation and other sub-optimal living arrangements to save on costs. “Real estate agents say these tight markets are pushing some renters beyond the city limits or into new living arrangements”, reporters Nicole Hegarty and Courtney Bembridge said. “The suburbs
Westpac’s credit card tracker is powering.Ā The WestpacāDataX Card Tracker Index* has edged down slightly since late September, slipping 0.9pts to 160.6 in the week ended October 17. Despite this, growth in activity continues to track a robust pace with quarterly momentum running at close to 2%qtr and annual growth at 6%yr. Some of this
In May 2023, the Albanese government announced changes to Australiaās Working Holiday Maker (WHM) Program and the UKās Youth Mobility Scheme as part of the Australia-UK Free Trade Agreement (AUKFTA). Below are the specific changes: From 1 July 2023, UK passport holders will be able to apply for a Working Holiday visa between the ages
