Some of the banks changing base cases for Fed cuts:

UBS: June to September
Wells Fargo: June September
Goldman: June to July
Citi: holding to June, later cuts are increasingly likely

you think…

Construction workers on state projects are pulling wage rises of 30% under the union's new deal with the Queensland government. Industry modelling suggests traffic controllers could earn more than $200,000 a year. youtu.be/gU-_pKg9zDA Jacquelin #7NEWS

Speechless - Qld Govt signs deal with construction union. Double time wages when it rains, extra month leave in RDO’s.
Treasurer says - will never apologise for workers getting higher wages. Premier says Govt jobs should be the highest paid job.
Wow!!
Total disregard for…

Brisbane 𝐁𝐑𝐈𝐒𝐕𝐄𝐆𝐀𝐗𝐄 ™ ❌

Only Charts 📈

US CPI special

antipodeanmacro.com/p/only-charts-…

Podcast: State of the Markets, March 2024

Owen Rask 🇦🇺 Rask 🇦🇺

raskmedia.com.au/2024/04/09/sta…

Pete Wargent 1. Moar immigration
2. ??
3. Profit!

> Augusta

🤣

Rental market

macrobusiness.com.au/2024/04/austra…

Retailers join builders in insolvency firestorm

macrobusiness.com.au/2024/04/retail…

Aust Melb Institute survey consumer inflation expectations and wages growth expectations point to slowing wages growth ahead.
(Macquarie Macro Strategy charts)

Earlier this week, Ryan Lundquist, an appraiser in Sacramento, tweeted a homebuilder ad that ran in the Sacramento Bee on August 19, 1980.

The builder was advertising a 9.75% mortgage rate at a time when the 30-year fixed mortgage rate averaged 12.95%.
x.com/SacAppraiser/s…

And long may they remain so.

cf. my missus walking into Seasons IGA, Noosa Junction Plaza

Alex Harris

Very soft numbers.

CHINA MARCH PPI -2.8% FROM A YEAR AGO (REUTERS POLL -2.8%)
CHINA MARCH CPI +0.1% FROM A YEAR AGO (REUTERS POLL +0.4%)
CHINA SAYS MARCH FOOD CPI -2.7% FROM A YEAR AGO; NON-FOOD CPI +0.7%

$CNY

Yep. Weak as water

The US is standing out as the only place struggling to get inflation lower.

Could be a function of mass fiscal stimulus

Pete Wargent You heard it here first