The latest edition of our finance and property news digest with a distinctively Australian flavour. In this week’s market update we look across the main markets to see what has been happening. Are the markets set for further falls as we approach year’s end?
CONTENTS 0:00 Start 0:15 Introduction 1:00 US Macro 4:20 US Markets 6:45 Oil 11:34 Gold 12:25 Europe And UK 14:45 Asia 16:42 China Macro 23:15 Australia 26:08 Crypto 29:15 Conclusion And Close
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Well clearly most central banks got the 50-basis point hike memo, as following the Fed yesterday, with the Bank of England, the ECB and The Swiss Central Bank all hikes their rates by 0.5%. Markets reacted with significant falls, as the higher for longer mantra is threatening future earning, while Treasury yields fell across the curve. This all does put the RBA out of line given its recent 25-basis point rises and suggests we in Australia are behind the ball – significantly. Hey, but then of course Australia is different – right?
U.S. stock indexes finished sharply lower on Thursday with the Dow Jones Industrial Average logging its biggest daily decline in over three months, as investors continued to digest tough talk from the Federal Reserve on inflation that revived concerns about a potential U.S. recession.
In the UK, Bank of England Governor Andrew Bailey said he saw “good news” in UK inflation figures that ticked down from a 41-year high, but there was a concern that consumer prices could leap again and that the central bank has more to do to prevent a wage-price spiral. Speaking after policy makers lifted their key rate a half point to 3.5%, the highest since 2014, Bailey said the risk is that inflation sticks around longer that the BOE is anticipating.
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People are leaving NSW for other states, driven by the failure of housing and planning policy and ultra-lose lending. The consequences are significant in terms of younger households exiting, while the burden of providing adequate support for older Australians is rising fast.
This mess will create massive problems in the years ahead.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
So the FED hiked again, and lifted the expected terminal rate to above 5% with the majority of board members agreeing this this projection. So, the markets and the FED are now not on the same page, with traders still betting on lower rates during 2023.
In addition, a slowing growth rate and higher unemployment means future earnings will be lower, suggesting that markets are over optimistic.
Things are as they say, complicated.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Today’s post is brought to you by Ribbon Property Consultants.
If you are buying your home in Sydney’s contentious market, you do not need to stand alone. This is the time you need to have Edwin from Ribbon Property Consultants standing along side you.
Buying property, is both challenging and adversarial. The vendor has a professional on their side.
Emotions run high – price discovery and price transparency are hard to find – then there is the wasted time and financial investment you make.
Edwin understands your needs. So why not engage a licensed professional to stand alongside you. With RPC you know you have: experience, knowledge, and master negotiators, looking after your best interest.
Shoot Ribbon an email on info@ribbonproperty.com.au & use promo code: DFA-WTW/MARTIN to receive your 10% DISCOUNT OFFER.
A replay of an investment podcast as Nucleus Wealth’s Chief Investment Officer Damien Klassen and Senior Financial Adviser Samuel Kerr, with guest Martin North of @WalkTheWorldDFA, as they discuss property rate cut that nobody noticed.
Agenda:
● The percentage of GDP that this year’s rake hikes have consumed ● Discount rates on standard variable rates ● Fake standard variable rates?
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Nucleus Wealth is an Australian Investment & Superannuation fund that can help you reach your financial goals through transparent, low-cost, ethically tailored portfolios. To find out more head to https://nucleuswealth.com/
The information on this podcast contains general information and does not take into account your personal objectives, financial situation or needs. Past performance is not an indication of future performance. Damien Klassen is an authorised representative of Nucleus Wealth Management. Nucleus Wealth is a business name of Nucleus Wealth Management Pty Ltd (ABN 54 614 386 266 ) and is a Corporate Authorised Representative of Nucleus Advice Pty Ltd – AFSL 515796
This is an edited version of a live discussion with Cameron who recently republished his book from 2017 Game of Mates: How favours bleed the nation as Rigged “How Networks Of Powerful Mates Rip Off Everyday Australians”.
This book will open your eyes to how Australia really works. It’s not good news, but you need to know it.’ – Ross Gittins
‘You’ll be shocked at how far the Mates have their hand in your pocket.’ – Nicholas Gruen
Australia has become one of the most unequal societies in the Western world, when just a generation ago it was one of the most equal. This is the story of how networks of Mates have come to dominate business and government, robbing ordinary Australians.
Every hour you work, thirty minutes of it goes to line the Mates’ pockets rather than your own. Mates in big corporations, industry groups, government departments, the halls of parliament and the media skew the system to suit each other. Corporations dodge taxes, so you pay more. You pay more for your house and higher interest rates on your mortgage, more for your medicines and transport, and more for your children’s education and insurance, because the Mates take a cut.
Rigged uncovers the pattern of political favours, grey gifts and information-sharing that has been allowed to build up over two decades. Drawing on extensive economic research, it exposes the Game of Mates as nothing less than cronyism on a grand scale across Australia and how we have fallen behind other countries in combating it.
We also discuss housing policy and economics in general.
Dr Cameron K. Murray is a Research Fellow in the Henry Halloran Trust at the University of Sydney and an economist specialising in property and urban development, environmental economics, rent-seeking and corruption. Professor Paul Frijters teaches at the London School of Economics and was previously Professor of Health Economics at the University of Queensland.
http://www.martinnorth.com/
Go to the Walk The World Universe at https://walktheworld.com.au/
Join me for a live discussion with Cameron who recently republished his book from 2017 Game of Mates: How favours bleed the nation as Rigged “How Networks Of Powerful Mates Rip Off Everyday Australians”.
You can ask a question live!
This book will open your eyes to how Australia really works. It’s not good news, but you need to know it.’ – Ross Gittins
‘You’ll be shocked at how far the Mates have their hand in your pocket.’ – Nicholas Gruen
Australia has become one of the most unequal societies in the Western world, when just a generation ago it was one of the most equal. This is the story of how networks of Mates have come to dominate business and government, robbing ordinary Australians.
Every hour you work, thirty minutes of it goes to line the Mates’ pockets rather than your own. Mates in big corporations, industry groups, government departments, the halls of parliament and the media skew the system to suit each other. Corporations dodge taxes, so you pay more. You pay more for your house and higher interest rates on your mortgage, more for your medicines and transport, and more for your children’s education and insurance, because the Mates take a cut.
Rigged uncovers the pattern of political favours, grey gifts and information-sharing that has been allowed to build up over two decades. Drawing on extensive economic research, it exposes the Game of Mates as nothing less than cronyism on a grand scale across Australia and how we have fallen behind other countries in combating it.
We also discuss housing policy and economics in general.
Dr Cameron K. Murray is a Research Fellow in the Henry Halloran Trust at the University of Sydney and an economist specialising in property and urban development, environmental economics, rent-seeking and corruption. Professor Paul Frijters teaches at the London School of Economics and was previously Professor of Health Economics at the University of Queensland.
Go to the Walk The World Universe at https://walktheworld.com.au/
Another outing with our property insider Edwin Almeida, as we look at the latest in the rental sector, the latest listing numbers, and the latest from our We-Chat chatters…
Go to the Walk The World Universe at https://walktheworld.com.au/
