See the latest Australian dollar analysis here:
Stock markets are pushing forward with gusto across Asia in the wake of the “conceding non-concession” from ex-President Trump overnight, with USD giving back some of its gains against the majors overnight, although gold is flopping to new monthly lows, now at the $1824USD per ounce level:

The Shanghai Composite is meandering nowhere going into the afternoons session, down about 0.1% to 3409 points while in Hong Kong the Hang Seng Index its still a case of just treading water with a second scratch session in a row, stuck at 26498 points. Japanese stock markets reopened with a flourish, the Nikkei 225 up over 2.5% to 26189 points while the USDJPY pair has held on to its surge from overnight but is stalling out here at the 104.50 mid level:

The ASX200 is having another very solid day, this time up over 1.3% to the 6664 point level while the Australian dollar is trying to regain from last nights big pullback as it remains floating just above the 73 handle against USD:

Eurostoxx and S&P futures are really picking up on the “OMG there’s going to be an actual functioning adult in the White House soon” realisation with the four hourly chart of the S&P500 showing price breaking out above it own high moving average and above the 3600 point level:

The economic calendar includes the closely watched German IFO survey plus 3Q GDP results and then in the US its consumer confidence and house price figures.
- Macro Afternoon - January 22, 2021
- Macro Morning - January 22, 2021
- Macro Afternoon - January 21, 2021
pherst.
Sorry my spelling NQR-but I was so excited by the Victorian Andrews government’s mind boggling innovative policy of halving stamp duty for new builds. Juice those peasants, and make it rain for cheap house builders (Metrican, Poeter Davis et al) and I’m sure we tax payers will foot the bill when they collapse on the poor battlers!
This is what we need to hear!!
“Debt will fuel quicker recovery, Treasurer says”
https://www.abc.net.au/news/2020-11-24/victoria-budget-2020-stamp-duty-discounts-wage-subsidies/12912644
Got to get back to surplus brother.
Few days ago I watched interview on Real Vision with William White and at the end of the interview he basically admits there is too much debt and there is nothing CBs and Gov can do about. His view is it will be dealt via inflation – rob the savers and creditors.
Which creditors die with the savers and which ones get bailed?
It’s pretty easy to tell who’s been balled-in after the event. If that helps.
Jim Grant, who was the interviewer asked William if he thinks that inflation will rob savers and creditors and William’s response was – the theft already happened, now is just a matter of allocating the losses – did not expand who he thinks will be saved and who will be shot. But he summed it to – there is nothing that can be done to save the day as we went to deep down the rabbit hole. Something along those lines.
I can share 5 videos for free so send me direct message on Twitter with your details and I will send you the link. You will like it.
Yep, inflation to deal with the debt. More wealth to flow net-upwards as a result.
You think that’s good, how about Job Mentor? 🤣🤣
And what qualifications will these job mentors have? “I’ve got a job because govt created it for me, but not you…”
LOL
lol
That’s funny cos it’s true
file under known knowns
https://www.yardeni.com/pub/yardenifangoverview.pdf
NEW ZEALAND … MORTGAGES … WHERE ARE THE MORE SIGNIFICANT DEBT TO INCOME (DTI) DISCIPLINES ? …
BNZ joins Westpac, ANZ and ASB to demand 30 per cent deposits from investors … Rob Stock … Stuff New Zealand
https://www.stuff.co.nz/business/123495497/bnz-joins-westpac-anz-and-asb-to-demand-30-per-cent-deposits-from-investors
… No mention above of the far more important Debt To Income (DTI) changes underway by some New Zealand banks … as outlined recently …
… access expanded post …
https://www.macrobusiness.com.au/2020/11/links-24-november-2020/#comment-4035159
NEW ZEALAND … CITY DWELLERS MOVING TO THE REGIONS …
… Clear message to local government … perform or perish (with the larger amalgamated disasters likely to choose the latter) …
Rising house prices prompt city-dwellers to move into the regions … Newshub
https://www.newshub.co.nz/home/new-zealand/2020/11/rising-house-prices-prompt-city-dwellers-to-move-into-the-regions.html
Soaring house prices and the increased ease of working from home has driven more urban-dwellers to head to the regions.
Upwards of 12,000 Aucklanders have left the city this year, but it’s offset by the 36,000 moving there or returning from overseas, as well as a natural increase following births and deaths.
Christchurch had the second-largest exodus, farewelling almost 2000 residents, followed by Wellington with 1400. … VIEW & READ MORE via hyperlink above …
.
.
… note the collapsed international migration since April 2020 …
International migration: September 2020 … Statistics New Zealand
https://www.stats.govt.nz/information-releases/international-migration-september-2020
actual functioning adult
…….. pictures Biden adjusting his adult pull-up pants after letting fly with an old geezer fart that knocks back 3 supporters in coughing fits.
Biden: “Yellen….. I choose you as my Treasury Biatch”
Yellen: “Sorry did you say something?”
Biden: “About 3:30”
Yellen: “I will unleash hell for you Donald”
Wondering if the TAB will opens a market for the first person of the Biden Administration to die….they all seem so old.
Depends.
See the top democrat in the judicial committee is stepping back from the role after being criticised for being a bit soft on Trumpy’s last handmaiden judge. I would have thought at 87 she could probably make room for someone half her age. Shows much much WD40 the yank political scene needs. 87 and she is still holding down a seat in congress…
#AusPol #Entitlement #Boomer https://www.abc.net.au/news/2020-11-24/mathias-cormann-government-funded-plane-oecd/12914276
Apparently this year’s tradtional Presidential pardoning of the White House turkey has been cancelled. Not entirely surprising given the circumstances.
White House Council advised Trump it was too likely to be overturned at a later date by the Supreme Court.
https://www.theatlantic.com/ideas/archive/2020/11/one-word-bars-trump-pardoning-himself/617170/
Comment of the week.
Thanks. But it’s only Tuesday, there’s plenty of scope for anoth… no, wait. You’re right. 🙌😁
Considering they’re just too useless to learn what Opposition means (Or standing for the People) we have 6 days till the bail in bill becomes another Albodross around Labors neck. If I thought he’d listen I’d give him a call, but I’m sure his hearing aid is only tuned for orders from Scomo & the Bankers.
+1
What news of a bail in bill have I missed?
Less than a week to call MP,s
Australian Citizens Party media release 24 November.
Look it up.
DOA – Albodross has apparently kowtowed to the LNP as per usual. Best to get oneself a good mattress for Xmas to hide one’s money under. “Informal” is looking to be the only candidate on the ballot paper worth voting for next time, unless you are lucky enough to one of those independents with some backbone and integrity currently representing you?
Pretty sure it picks up radio CCP just fine also.
“OMG there’s going to be an actual functioning adult in the White House soon” FFS that isn’t what’s happening at all. They’re rejoicing at Washington grid lock which means no real change just more of the same BS from the Fed that’s been driving asset prices for the last 11 years.
Exactly.
https://www.smh.com.au/national/nsw/berejiklian-grateful-queensland-will-reopen-to-sydney-20201124-p56hix.html
A relief? Why? So they get to the theme parks or something? I thought she was moaning and whining constantly about the loss of revenue for her State but really she just wants to go on holidays somewhere nice. Meanwhile Qld reaps the tourist dollars…….
I would wager her mates have lots of Airbnb places along the coast of Qld. We wouldn’t want them to remain vacant now do we?
On second thought, she doesn’t need to know about that bit
😁
Yeah. Nah. I reckon her mates are about as vacant as they’re ever going to get.
Edit: to clarify, I’m fine with that.
Yep, hot mess Gladys needs some time out but not much loyalty from her if she is looking to party north of the border?
I don’t think Annastacia will have her after defying isolation rules.
https://mobile.twitter.com/AnnastaciaMP/status/1330709334938976258
And could you blame her? Who needs someone who will be part of the problem, rather than part of the solution?
Have been banging this drum for a while, so ill hit it again, but QLD didn’t miss southern tourists, with the exception of a minor number of frequented spots by token southerners (PD, Noosa, GC).
It takes an enormous amount of self delusion to think that your holiday x1000000 represents what would have been spent in QLD and that’s exactly what QLD has missed out on. It’s as if there aren’t people already in QLD who don’t enjoy holidays 🤷♂️
I don’t think she actually gives a rat’s about the QLD border.
She’s just doing her master’s bidding.
Thought she more than one?
She may well do. But you don’t need to know about that.
https://www.bostonglobe.com/2020/11/24/world/taiwans-leader-launches-production-domestically-made-sub/?camp=bg%3Abrief%3Arss%3Afeedly&rss_id=feedly_rss_brief&s_campaign=bostonglobe%3Asocialflow%3Atwitter
And apparently, we can’t be trusted to build a canoe.
MB growth fund down today… When are you actually going to get some growth in your growth fund?
What is your investment horizon?
Like most these days …. the next hour
Hahaha much longer than a day… you just expect a ‘growth’ fund to go up when markets in general go up… they have lost money in the last 9months since the markets puked..
lucky to get in before that, so no losses.
Opportunity cost?
That’s what a 100% cash portfolio will gets ya.
😉
Kinda annoying when you double down with them in the middle of puke expecting upside when markets recover… donkeys in a horse race these guys
9 months ago is February. The very start of a global pandemic; one that MB themselves were writing about and trying to draw attention to. Damien even did interviews.
Choosing that moment, given that information at hand, to double down into a growth fund was a bold strategy.
lolololol… buy low sell high… blood on the streets is how you make money… they’ve had to months to re-do their portfolio… From their mail out today;
“We have been cautious on risk for months, avoiding the crisis at the start, but with minimal participation in the market recovery. And, to date, we have been wrong. We did identify the most likely reason to be wrong would be if governments would take ever more extreme steps to cancel capitalism. And that is what happened”
Umm, not really. It has been pretty easy to make even modest gains in the last few months. The suspension of capitalism has been apparent for a while.
As somebody wrote here a few weeks after the lows- you had your 30% fall in the market, what did you do?
They got a 30% discount but bet on further falls despite massive stimulus and stocks already priced at depression levels.
I think their assumption was that this virus was far worse than it was. But life did start going back to normal in much of the world around May.
I sold late January then jumped back in late March. Rode most of the bull market.
#linktotradingaccounthistoryoritdidnthappen
😉
Oh I’m sure this New taskforce will be right on top of it. Instead of things like restricting work rights for student visas, learning the road rules and getting an proper Australian licence, there will probably be the usual how do we make this easier and pass the risk off to someone else.
Stupidest industry ever
https://www.smh.com.au/business/workplace/cheap-pizza-putting-lives-at-risk-nsw-launches-taskforce-into-food-delivery-deaths-20201124-p56hfm.html
It is a disgrace that we allow humans (imm!grants in this case) to be treated so badly. Their lives are callously put at risk in order to increase profit.
Poor working conditions anywhere are a threat to good working conditions everywhere.
Agree
+1
America’s hospitals are preparing for the expected deluge of covid-19 admissions. It looks like they will come up short due the sheer number of cases.
https://www.theatlantic.com/health/archive/2020/11/americas-best-prepared-hospital-nearly-overwhelmed/617156/
#whatwouldswedendo?oh….waitfcuk
Someone was posting at the very start of covid with links to a US nurse/medico’s blog. Can’t remember who it was or the blog but would be keen to see the updates.
Equity mate is back baby!
https://www.westpac.com.au/personal-banking/home-loans/next-home/unlock-equity/?cid=wc:ad:NEWSPART_2020:oth::eqty&utm_source=&utm_medium=oth&utm_campaign=NEWSPART_2020
We’re Westpac and “we’re here to help”
It’s KevBank!
I look forward to watching the ABC broadcast its impending demise live @3am on some future day. Too.
Up for bank of the month award from Josh Rainbowberg for getting ahead of the curve in his lend irresponsibly crusade and also knowing that the depositor bail-in regime is as near as next Monday.
We will be like the EU in a couple of years. 0.5% rates on the back of a mountain of QE and TFF. AUD will fall and all blame will be pointed at the CCP ending relations.
But it’s ok, we will finally get some inflation and new migrant relations with Nigeria or some other overpopulated hell hole.
Just don’t hold cash.
How funny are these clowns. Nooohhh the crush loading has nothing at all to do with overloading infrastructure to aid in financialisation lol
https://mobile.twitter.com/DrDemography/status/1331103822211543040
frk.. gold.
Ouch. Chart don’t look too healthy
Hmmm…smells like risk on / blowoff
The blowoff is Biden you are smelling…. or Yellen
Prepare for more of the same.
https://www.smh.com.au/business/banking-and-finance/perfect-choice-for-the-times-biden-sends-clear-message-to-wall-st-with-yellen-pick-20201124-p56hev.html
Biden, like Obama before him, is Wall Street’s man.
And so are McConnell and Trump.
Wall St walk / bribe both sides of the street. At least DNC do try to improve universal health and basic wages for the bottom 50 %.
Russians still have sense of humour. Are you invading or just lost?
Imagine if Russian ship does this – we will be forced to watch it on the news for 3 weeks. And more sanctions on Russia.
https://www.rt.com/russia/507633-navy-threat-warship-border/
BTC $19k
Interesting how the word Populism has its origins in an, almost agrarian socialists, left wing political movement in the United States.
The closest thing America ever had to a British or Australian style Labour party according to Thomas Frank.
Yet today our establishment media uses the term to denote pandering to deplorable, Working Class “right wingers” and as a slur against democracy.
https://youtu.be/-GiAb6pi32g
When watching a documentary on WW2 Tom gets annoyed when the narrator describes Hitler as a “populist”
What!,…It was the populists that finished that guy!
His contrasting of the US in the 1930s with Europe is also interesting.