I have been amazed over the last few weeks by how quiet Sydney was over the school holidays.
Superstars such as Elton John, Billy Joel, Red Hot Chili Peppers, Dua Lipa and Kendrick Lamar have already come, while others such as Coldplay , Drake, Pink and Beyonce will be arriving in the next 12 months.Music event revenue in 2022 increased 400 per cent from the depressed 2021 levels and in 2023 it is forecast to increase by 30 per cent from 2019 pre-pandemic levels.
In fact, so far 2023 has seen a risk-on rally fuelled by moderating inflation indicators, unemployment staying low while wage growth lessens, corporate profits being OK but above some disastrous predictions, unseasonable warmer northern hemisphere weather lowering energy prices, and a faster-than-expectedIn the last few weeks, consensus has switched from lamenting how severe the recession will be, to debating mild recession/soft landing scenarios or even no recession at all, which is...
Behaviour indicators have shown longer term investors have been accumulating bitcoin versus short-term traders looking to take quick profits. And supply dynamics are also becoming more positive as we approach the next bitcoin halving in 2024 and Ethereum supply becomes increasingly deflationary.