See the latest Australian dollar analysis here:
A small rebound in risk appetites here in Asia today despite the mixed messages overnight with most stock markets rising on the chances that more stimulus from the US Congress may actually be on the way (Mad King aside not signing it). Bitcoin is relatively steady below the $19000 level again, while gold has put on more gains above the $1800USD per ounce level following its swing long trade higher, now at $1833 but well off its pre-breakdown highs:

The Shanghai Composite is the only stock market really struggling, down 0.2% to 3442 points while its a much brighter day in Hong Kong with the Hang Seng Index advancing nearly 0.7% to 26713 points. Japanese stock markets are still going nowhere with the Nikkei 225 barely moving at 26809 points while the USDJPY pair has come back from its near two week high, retracing to the mid 104’s again:

The ASX200 has broken above the 6600 point level, up 0.4% to 6615 points while the Australian dollar is valiantly trying to break back above the 74 handle and its recent session high, but remains somewhat overstretched:

Eurostoxx and S&P futures are coming back slightly with the four hourly chart of the S&P500 showing a small gain to the 3660 points level as this market looks overstretched and already pricing in any stimulus coming from Congress:

The economic calendar continues tonight with US initial weekly jobless claims and the non-manufacturing ISM print for November.
- Macro Afternoon - March 4, 2021
- Macro Morning - March 4, 2021
- Macro Afternoon - March 3, 2021
NEW ZEALAND’s LATEST IPSOS ISSUES POLL: HOUSING LEAPS TO TOP CONCERN … AGAIN …
… Housing major concern rockets to 53% ( by far worst since 1st poll Feb 2018 !!! ) of New Zealanders … 16% of Australians …
… Watch the ‘affordability gap’ widen dramatically in Australia’s favour … and aspirational young New Zealander’s flee there in droves …
The Ipsos New Zealand Issues Monitor … November 2020 (pdf)
https://www.ipsos.com/sites/default/files/ct/news/documents/2020-11/12th_ipsos_new_zealand_issues_monitor_nov_2020.pdf
… and housing hyperinflation sets in … as the Real Estate Institute of New Zealand October Report released mid-November illustrates …
REINZ Report … Month of October 2020
https://www.reinz.co.nz/residential-property-data-gallery
Median house prices across New Zealand increased by 19.8% from $605,000 in October 2019 to a new record median high of $725,000 in October 2020; and up from $689,000 in September this year (a 5.2% lift) according to the latest data from the Real Estate Institute of New Zealand (REINZ), source of the most complete and accurate real estate data in New Zealand.
… Most New Zealanders … with Adrian Or, the Governor of the Reserve Bank of New Zealand … are interested in knowing when the government intends to remove the political and planning impediments, so that new affordable housing is ALLOWED to be built … again …
Record house prices not caused by Reserve Bank – Adrian Orr … TVNZ
https://www.tvnz.co.nz/one-news/new-zealand/record-house-prices-not-caused-reserve-bank-adrian-orr
… so the median price for serviced lots / sections is about $50,000 … as is the case in the United States (access extensive further background information via http://www.PerformanceUrbanPlanning.org ) …
Lot Values Hit Record Highs (U.S 50,000 median price per serviced Lot) … Natalia Sineavskaia … U.S National Association of Home Builders
http://eyeonhousing.org/2019/11/lot-values-hit-record-highs/
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My sense is that 2021 is shaping up to be Jacinda Arderns ‘Year From Housing Hell’ … much like what it was for John Key in 2016 with his governments housing failures … check out ‘GONE GONE GOING …’ section box (towards bottom) via front page of my archival website Performance Urban Planning (link above).
NEW ZEALAND …
Mike Hosking: We’re dawdling while Australia’s open for business … New Zealand NewstalkZB
https://www.newstalkzb.co.nz/on-air/mike-hosking-breakfast/opinion/mike-hosking-were-dawdling-while-australias-open-for-business/
NEW DETACHED HOUSING TAKES OFF IN AUSTRALIA …
Detached house building approvals hit a 20-year high … Nathan Jolly … Elite Agent
https://eliteagent.com/approvals-for-detached-house-building-approvals-hits-a-20-year-high/
Detached housing approvals have hit a 20-year high, with October seeing the most detached house building approvals in Australia since February 2000.
According to Master Builders Australia, a total of 10,936 new detached houses received building approval throughout the month.
“The numbers out today provide further proof that the HomeBuilder scheme is a huge success in supporting new home building at a very challenging time,” Master Builders Australia Chief Economist Shane Garrett said. ,,, read more via hyperlink above …
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Western Australian building biggest new homes in Australia … Colin Brinsden … Perth Now
https://www.perthnow.com.au/business/property/western-australian-building-biggest-new-homes-in-australia-ng-b881716008z
How long will everyone spend in the China thread tonight? Lol
Good to see everyone having so much fun, good for Totes to get a moment in the spotlight.
He seems a bit down on the Labor party.
And very up on Totes, I can’t believe someone can honestly post this stuff, yet it all appears to be genuinely posted and not trolling. So much autofellation:
“I’ve achieved a whole heap in my life”
“Whatever I end up doing politically will be considered and devastatingly effective”
“I am a life long proven achiever”
So far, in the short time I’ve been on MB Totes has had 3 different names, had 3 failed ideas to “save Australia” but talked a whole lot about it and actually done nothing and the ideas only failed because Totes “decided against it”.
There’s an aspect to the deteriorating relationship that I think a lot of people are missing, but they’d only understand it if they’d lived in China. I may post something about it at some stage if I feel like sticking my head above the parapet, but basically the relationship is done for in the short to medium term and there is nothing to do done or said to reverse it (even capitulating and giving the CCP everything they’ve said they want will not save the relationship and would be a disaster of unimaginable proportions). The CCP is obviously trying to destroy as much goodwill that the Chinese people have towards Australia as possible; this has gone beyond anything they’ve done before and is hugely material. We’re being turned into an enemy (which is saying something because we were not one of the evil western countries who caused China’s century of shame). Our dmbfck elites need to wrap their head around this reality now and quit bleating in public. What most people also don’t realise about this is that the CCP has no choice in this matter, their own people, specifically the urban Chinese middle class, have backed them into a corner and forced them into this course of action wrt to Australia. Anyway that is the bare bones of my take of this. It was all horribly foreseeable and inevitable and I at least invested accordingly (so no I did not go long Chinese middle class buying Aussie products stocks cos you never knew when it was going to implode, just that it would at some stage).
Thanks, elaborate anytime 👍
“What most people also don’t realise about this is that the CCP has no choice in this matter, their own people, specifically the urban Chinese middle class, have backed them into a corner and forced them into this course of action wrt to Australia”
Why?
+1. Thanks Poppy. That bit caught my eye too…..
Read 1984…
I’m looking forward to hearing any and all,opinions you might provide.
Why do you think China hasn’t yet pressured Chinese students to reject Australia if we are being cast as the official enemy of the people ?
Would love to read your musings some time PC.
Perceptions from people who have spent time on the ground are always so much more insightful than those who speculate from afar.
I’ve seen comments on Chinese forums (using google translate) indicating that they think we are trivial non entities who deserved to be crushed for our insolence, that Australia belongs to them and that we haven’t realised it yet….is that the sort of thing you’re talking about?
“that Australia belongs to them”. Does the thinking really go this far? Wow.
Didn’t keep the links… should have. Experiment for yourself using chrome’s built in translation tools to render chinese sites in english. Search with Baidu and use the google translate website to turn your english into chinese. Copy and paste the chinese into Baidu (or google just for fun). I guarantee you’ll find something interesting if you look.
Thanks Robert
“during the ridiculously long November 3rd election” which took place on November 3rd, and you’re ridiculously refusing to concede.
You’re welcome.
Statement by Donald J. Trump, The President of the United States
https://twitter.com/realDonaldTrump/status/1334240039639937026?s=19
When was the last time US had faithless electors? I’d forgotten about the potential for that until I saw an article about it today.
“The laws are somewhat toothless, but that seldom matters because the sense of duty in the electors is usually strong.
Faithless electors have never changed an election result”
https://www.abc.net.au/news/2020-12-03/meet-the-americans-who-make-up-the-electoral-college/12911222
Good to know, didn’t want any more bad news from the orange man.
The market is pricing in suggested good news through the 2030’s as well
LOL’d.
Have you seen the Nasdaq? I reckon they’re pricing in humanity’s eventual ascension too.
haha 🙂
😁
DM!
https://www.dailymail.co.uk/news/article-9011631/The-shocking-level-Chinese-ownership-Australia-cattle-stations-ports-water.html
Never late for a bandwagon that one.
Lol
https://www.news.com.au/travel/travel-updates/fight-over-pristine-whitsundays-beach-reaches-fever-pitch/news-story/c9afd2dfa76e36e46fc1def63d319101
Bend over now?
Happy birthday to me.
You’re a hundred and three (or something that rhymes with it)
You look like a monkey.
And smell like one too!
👍
FCKEN!
What’s for dinner? (And happy birthday)
Any special treats from the misuse? Like buying you shares in gold or silver?
A transgender little person with a gram of rack, a case of Grange and a single mint wafer.
Speaking of rack – there’s a young hippy type chick at work, got all upset with me for betting on Melbourne Cup because I “participated in animal cruelty”, I then proceeded to ruin her day by telling her I’ve been working in horse racing for over a decade lol.
Anyway, out of the blue she tells me she spent all weekend hitting the rack. Last thing I expected – mushies, reefer, “natural” drugs all to be expected, but rack threw me. She was less than impressed when I proceeded to detail the number of animals that suffer due to the rack trade. Fkn faux hippies sh!t me.
Do as I outrage, not as I do.
Yeah… all those videos of terriers high on the stuff are just terrible.
Great if you want a pool dug on the cheap though.
another year older
another year wiserCongrats!
Shouting the bar?
Ah! Hence the risky trip into the CBD on Saturday night 👏
Happy Birthday Niko!!!
And to me too.
HB
Thanks.
happy birthday mate.
https://m.youtube.com/watch?v=yPgNB3tBmwU
And likewise.
Narcissist
Happy Birthday to ya!
https://www.youtube.com/watch?v=RcVZfJO01NI
GOD
https://www.youtube.com/watch?v=w-BMe5TPH1A
Mock if you will MiBo, but you can’t deny this is cool.
https://www.dailymail.co.uk/news/article-9010779/Anchor-chain-slices-sunken-cargo-ship-reveal-4-200-Hyundai-cars-inside.html
The sad part is inside the glovebox of one of those cars was a golden ticket that would entitle the holder to a special tour of the Hyundai factory.
lot of ship stories lately, oh well, yesterday as well anyhow.
The Shipping News
That is impressive.
This is big news.
https://www.politico.com/news/2020/12/02/congress-clears-bill-to-ban-trading-in-chinese-firms-that-thwart-us-auditors-442362
It will effectively stop Chinese companies from being listed in the US stock exchange.
Yes I saw that one. The issue of dodgy auditing of Chinese firms with US listings was allowed to go on for too long
Hopefully it leads to existing ones being delisted
That would indeed be deloitteful.
Price(waterhouseCoopers)less!
Goodbye Mr Andersons.
hope it happens.
I just don’t get why people try and talk to me while I have headphones on. I’m specifically wearing them so I don’t have to talk and yet, the talking happens.
People you know: point at your headphone on their side and look confused.
People you don’t: take that earphone out and pretend to be Serbian.
That’s ab Serb
If [email protected] is Serbian, it would be totally reasonable.
Not Serbian but you wouldn’t find me balkan at their food, it looks tasty
Jeez that was cheesy, Pule the other one. 😉
“First @DaveMilbo gets stuck into Herald Sun, then News Corp holds a national ‘panic session,’ now @MrKRudd and @TurnbullMalcolm are twisting the knife. All in one day. #MurdochsPetitionPanic smear pieces coming your way guys.”
https://twitter.com/PRGuy17/status/1334415158911746049?s=19
Dunno if everyone knows about the current brouhaha about the BBC’s current religious affairs editor, and a little interview he did in the 90s.
https://www.bbc.com/news/uk-54991018
https://www.dailymail.co.uk/news/article-8968539/Sick-pay-cheaper-suspending-fire-Martin-Bashir.html
Anyway, reminded me of this…
https://www.theguardian.com/media/2005/jun/19/ITV.jackson
Militant greenies?
https://www.abc.net.au/news/2020-12-03/suspicion-around-second-mass-salmon-escape-tasmanian-fish-farm/12947734
It’s Rear Admiral Finney of the Salmon Freedom Front!
feild marshal Tree Hugger
Major Mal Function.
A totally shelfish act.
Definitely smells fishy.
The worst part is when they spend all night nibbling your toes and then go all Koi.
https://www.bloomberg.com/news/articles/2020-12-03/vietnam-asks-china-to-end-tourism-activities-on-disputed-islands
Good luck with that Vietnam
haha, can you please stop.. please?