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RBA cut as expected by 25bps today, market now pricing in a ~3.25% cash rate by December - implying another ~60bps of cuts (or more than two additional 25bps cuts this year). Interestingly, RBA pushing the trade war is "disinflationary" line, which we had asserted in March/April.

Is a housing recovery on the way?

‘Confident cut’ by RBA, Bullock says afr.com/markets/equity…

RBA’s Bullock shocks market with ‘jumbo’ rate talk afr.com/markets/debt-m…

House price risk won’t stop another rate cut: Bullock afr.com/policy/economy…

Huge public spending secures soft landing afr.com/policy/economy…

A remarkable 63 per cent of all Australia’s economic growth since December 2019 has been driven by the public, rather than private, sector. Expressed another way, 53 per cent of all jobs created since 2019 have been attributable to government agencies rather than private firms.

christopher joye

The impact of government largesse on economic growth and employment is well recognised and has been for some time. Due to the resources booms since the 2000s we have simply become a rich enough country that can ‘afford’ to be relatively poorly managed.

From NZ mate: "Chinese EV shares tumble as BYD sparks ‘rat race’ price war fears. Electric vehicle leader announces fresh round of price cuts for its models BYD announced a fresh round of price cuts for more than 20 models over the weekend, bringing the price tag of its

The RBA marks down the neutral cash rate again livewiremarkets.com/wires/the-rba-…

The singularity already happened, just ask the monkeys 🙈🙉🙊

Australia could become akin to Asia’s Ibiza over the next two to three decades. A beach resort for well-heeled members of the Indo-Pacific that trades off tourism and natural amenities rather than any intellectual edge. It certainly satisfies the popular stereotype of bronzed

christopher joye I think that has been the trajectory for a while. It matches the squatter mentality as well. It will need to increase the nanny state to maintain distance between domestic problems and the well heeled tourist migrants though.

christopher joye Lee Kuan Yew, the late great premier of Singapore, stated over 30 years ago that Australia would become the 'white trash of Asia'. Never a truer word.

christopher joye Yeah, nah, there are much better beach resorts in Bali, Fiji, Thailand, Vietnam and even Hainan Island in China than Austalia.

christopher joye Bangkok is already more developed, connected, and alive than any Australian city. It’s got the strategic edge and the Ibiza vibe — without the housing crisis, $18 sandwiches, or 10-year approval for a train line to an airport.