Only Charts
www.antipodeanmacro.com
1. Markets are pricing in roughly a two-thirds chance on an RBA rate cut by mid-2024
2. The US JOLTs data overnight showed a further modest decline in job openings. The ‘normalisation’ of job openings/vacancies has been a common feature across economies
3. The declining worker quits rate in the US foreshadows further slowing in wages growth
4. A similar relationship is apparent in Australia
5. Motor vehicle registrations in Australia dipped in December but remained at a high level
6. Aussie consumer spending in Q4 won’t get the boost from car buying that occurred in Q3
