It's Friday... show me cool graphs

FinTech

Dancing with elephants

Since 1990s, the traditional banking sector has been consolidated massively in the US. This has created companies that are both inefficient yet too big to fail

New FinTech have a Trillion reasons for wanting to disrupt Visa in the small spend market...

Most FinTechs are still using the rails/infrastructure which Visa hold. How long they will have this moat, who knows, but it is an amazingly lucrative business...

China

Mentions of “common prosperity” in President Xi’s speeches

As much as China is adopting Western practices, there are pockets where the Western market is nowhere to be seen - such as alcohol consumption

Australia

Steel production - how bad is it really?

Big Resi developers - Mirvac and Stockland have record pre-sales for units

NZ - sure house prices are high but +80% LTV levels are similar to 2019. The only difference is the total lending pool has increased.