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
In the weeks since the Albanese government’s latest federal budget was unveiled, there has been a growing chorus of criticism over the government’s changes to the tax system. While some economists and commentators have welcomed the changes to the tax system as they relate to investment in existing property, as Leith covered here at Macrobusiness
If you needed any more elegant proof that the world has changed since Iran, look no further than this: China is poised to fire a nuclear-capable missile with a dummy warhead in the South Pacific in the next 24 hours, according to briefings by Chinese embassies to regional governments on Monday Foreign Minister Penny Wong was
Or, at least, out of fashion. TME. The outcasts that nobody wants Markets have an uncanny habit of punishing consensus. While investors continue chasing yesterday’s winners, positioning data reveal a surprisingly long list of sectors sitting near multi-year lows in ownership. These aren’t necessarily buys—but they’re where the fuel for future reversals may be building.
Hilariously, as a cold snap spikes East Coast gas prices and the Iran war delivers windfall profits, the gas industry has ramped its whinging to 100%. They’ve rolled out good ‘ol industry patsy Wood Mackenzie: Labor’s proposed domestic gas reservation scheme would flood Australia’s east coast market with excess gas supply in the short-term before
In June, the British government proposed mandatory changes on how content is discovered on YouTube and other online video platforms, which would give government unprecedented influence over what content makes it to the screens of viewers. Under the proposed plans there would be a “prominence regime” which could require platforms such as YouTube to give
According to Primara Research, I have never heard of the latest ABS Business Conditions data for June 2026 indicates that 1 in 7 Australian firms are now boosting prices in reaction to gasoline costs, up from 11% to 15%, 36% more enterprises than last month. It’s mining, construction, wholesale, transport: these are the input expenses
The ferrous complex is trying to hold $100. It may succeed for a few months with the aid of seasonal tailwinds. Iron ore inventory edged down on the week. Steel inventory jumped and is well above last year’s. MySteel indexes are adjusting down to CISA measures. Prospects for demand remain dim. Property is kaput. Policy
The AFR devoted a lengthy and laborious investigation to One Nation’s funding over the weekend. Perhaps part of the disbelief rumbling through Canberra stems from the knowledge that small-dollar, direct-to-voter fundraising like this isn’t how Australian political parties make their bread in 2026. When asked by AFR Weekend, the Labor Party declined to say how
In recent times the issue of migration has been catapulted to the forefront, with each of the now three major powers in Australian federal politics (as measured by primary vote) pledging further cuts to the intake which currently stands at 301,000. The Albanese government has effectively pledged a strategy of steady as she goes with
In the weeks since the Albanese government delivered it’s latest federal budget, whatever pretense of a free market that existed surrounding the issue of housing prices has been gradually evaporating. Where once there were claims that the impact of negative gearing and the capital gains tax discount were minimal, and that Australian housing was a
Elioth Gruner Frosty sunrise 1917 Art Gallery of New South Wales Gift of Howard Hinton 1927 Somewhere near here Albanese and Chalmers see reform and risk-taking as an antidote to populism – ABC Are the wheels falling off the AI investment boom? – ABC Predicted $27bn wartime windfall for Australian LNG exporters
OK, so where Korea goes, goes AI. TME with more. Memory Cracks The technical deterioration across the AI memory complex is becoming difficult to dismiss as stock-specific. From SK Hynix and SanDisk to Micron, Kioxia and Samsung, momentum is fading at the same time, with several leaders breaking key trendlines and short-term support. Whether this
DXY is holding resistance turned support. AUD was aided by JPY intervention. Oil and gold parted ways, suggesting the Warsh test is peaking. Base metals are oscillating. Mining charts remain hideous EM stocks are hanging in, casting doubt over the DXY rally. Junk is serene. The Treasury curve is still bear flattening as the Warsh
After a few good days and some more missiles, the Strait of Hormuz remains open. MS fro two days ago. Yesterday we saw 7 vessels exiting the Strait of Hormuz. Data from last weekend got revised upwards from a rate of 3 vessels per day to ~7-8 units/day. Inbound vessels are also trending at ~8-9
When it comes to gaslighting HQ, look no further than today’s rubbish. A comparison by the $384 million Amplitude using publicly available data seeks to dispel some of the myths of the “manufacturing versus big gas” rhetoric, and make the case why forcing producers to cross-subsidise the manufacturing industry is not a solution to the
As the path for housing price growth continues to deteriorate, with more cities slowly joining Melbourne and Sydney in the falling housing prices club, concerns are building on the potential impact on the economy. In the latest RBA Board Minutes they noted: “Conditions in the established housing market had softened and housing credit growth looked
I have now done my best to describe the extraordinary policy failures that have done nothing to improve VIC frontline services, with record suicide rates. The failure of the Rosy Batty panopticon: MARAM has replaced frontline workers’ judgement with a centralised information-sharing system. The failure of AHPRA regulation to hold medical bad actors to account. The use
Earlier this year, RedBridge asked voters if they agreed or disagreed with a vitally important question. “Almost anything is better than the way things are now, I just want to vote for change”. Across every single demographic breakdown except voting intention, there was net support for this perspective. Generation Gender Location Education Home ownership
As the debate over the right set of economic, immigration and housing policies in Australia continues, Canada is often raised as an alternative pathway, one where housing prices and rents are falling and net overseas migration is a negative number. But this different strategy, which ultimately rests upon a reality where the Canadian government lacks
TME with the news. Under The Hood The indices may not be saying much, but beneath the surface the market continues to evolve. Leadership within AI is shifting, market structure is becoming increasingly important and several cross-asset relationships are beginning to diverge. How bullish is the AI bull? SOX has gone nowhere over the past
0The Chinese wolf warrior diplomat is back. China’s top diplomat in Australia has launched a remarkable attack on ASIO and other Western intelligence agencies, accusing them of fabricating spying claims against his nation as he issued a sweeping denial that Beijing engages in foreign interference. The combative intervention has sparked calls for ambassador Xiao Qian
Gas propaganda HQ just won’t stop. One of the nation’s big energy users and producers, Ryan Stokes, says Labor’s proposed 20 per cent domestic gas reservation will wipe out small energy companies and subsidise multinational manufacturers that are neglecting Australia’s long-term economic interests. The heavyweight pushback from the Seven Group Holdings boss came as Japanese
With the war in the Middle East still unresolved and growing domestic inflationary pressures, concerns continue to mount about the future of the Australian economy. Back in May, RBA Assistant Governor Sarah Hunter delivered a speech, during which she put forward the RBA’s perspective that a significantly more serious downturn within the economy and labour
Today, I continue my series on the disaster that is Victorian frontline services for family violence, mental health and child protection. So far, I have recounted: The failure of the Rosy Batty panopticon: MARAM has replaced frontline workers’ judgement with a centralised information-sharing system. The failure of AHPRA regulation to hold medical bad actors to
During parliamentary question time last week, Prime Minister Anthony Albanese took issue with tech algorithms, stating that they drove people to “more and more extreme positions”. “So, they start off in a mainstream position talking about ethnicity perhaps or faith, and they end up over a period of time receiving in their inbox — not
