Anthony McDonald

So...

On one hand, we've got confidence through the floor.

The actual data, the jobs market at least, is really steady.

Economists are saying that's because jobs can be the last thing to go.

It costs a lot for the business to hire.

It takes a lot of time to train people up.

They really don't want to be shedding stuff unless they have to.

They sort of wait to see whether the economy is going to sort of just bounce its way out of this or whether it's real.

But for now, the jobs market is solid.

I mean, in addition, James, we've got a couple of speeches from the RBA Deputy Governor, Andrew Houser, who has emerged as someone who's really worth listening to.

And he basically just parroted the Michelle Bullock lines that, you know, inflation is a concern, we'll raise rates higher if we have to.

Let's just wait and see what happens.

Well, the shaken sentiment, James, while it's a forward-looking indicator, it is impacting some profits materially, and boards are having to start to think about disclosure.

So the big one we got this week, and it's the one we've been waiting for, the obvious one, the most exposed oil stock on ASX outside of the energy sector, and that's Qantas.

Guess how much Qantas spends on fuel every six months?

Tell me.

About $2.5 billion last half.

Right.

Up to $3.3 billion this half.

Huge fuel bill, right?