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The New-Normal Down-Under

If you thought the utter insanity of the new-normal's central-planner-driven "bad news is great news" inflate-a-thon was reserved for The Fed, think again... This week Australia has had the dubious honour of seeing a huge 'surprise' surge in its unemployment rate to a 13-year high at 6.4% (from 6.1%) - which was largely ignored by the cognoscenti as anomalous data, but really just shows the utter farce that seasonal adjustments have become on government data. Tonight something else happened... the Australian stock market has soared 11% in the last 2 weeks to its highest sincee May 2008.

 

 

Welcome to the farcical world of modern finance...

 

Charts: Bloomberg