1. Winter is coming…
European gas continues to hit new high prices. So the Germans are looking for alternate energy sources. ‘Firewood’ is trending as a google search term, as the country prepares for winter.
Meanwhile we are hearing that workers are back in the office across Europe in post pandemic record numbers. Free air con amidst the soaring summer temperatures has lured them back. And free heating in winter is set to keep them there!
Source: Google Trends
2. What’s in the box…
S3 Global Opportunities Fund holding HelloFresh reported this week. What caught our attention was their historically low cancellation rates among their active customer base. The company has attributed this to improved relative affordability and greater selection of meals. But we also like how it makes us feel like MasterChef’s when we get home from a long day of results!
Source: HelloFresh
3. Help still wanted…
We’ve seen the help wanted signs posted on every shop front. And it looks like we’ve finally got some extra hands on deck in Australia. Net permanent & long-term arrivals, which is a good monthly proxy for Australia’s net immigration, rose in June. And expectations are for a further increase in official net immigration in Q3.
Source: ABS, Macquarie Macro Strategy