Here is a downloadable version of the letter Dale Webster (The Regional) and I sent to the member of the Senate Standing Committee on Rural and Regional Affairs and Transport about the economic impact of in-person banking being systematically removed across the country.
Author: Martin North
Martin North is the Principal of Digital Finance Analytics
The Crypto Story Gets Even Worse!
More bad news from the fallout from FTX, with derivatives and lending now under questions. Genesis, derivative business has a hole and Gemini is also under pressure. The industry is tied in knots, and the links back to major players means risks are stacked on risks, totally unregulated!
Go to the Walk The World Universe at https://walktheworld.com.au/
Is A 5% Fed Rate On The Cards?
The latest US sales data and GDPNow data signals the potential for higher rates, with some now talking about 5%, as Fed officials talk up more rises in the months ahead.
Results from retail were weaker, and some high-tech also, but markets are beginning to think about higher rates again, after the Fed continues to battle inflation. Mary Daly says a pause is off the table.
As a result, the markets had another down day.
Today’s post is brought to you by Ribbon Property Consultants.
UK Inflation Surprises On The Up Side…
The UK inflation data come in hot today, signalling broad-based inflation, including across services. Gas, electricity costs and food costs were among the main drivers, offset small falls in petrol and used cars.
This suggests the Bank of England will need to hike rates some more – though that may depend on the Chancellors Budget tomorrow.
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Wages Rose More Than Expected But We Are Still Falling Behind!
The latest Wages Price Index data released by the ABS today contained some stronger than expected growth, especially in the Private Sector. Some of this was because of the Fair Wage Commission Award. Public Sector workers did less well.
Nevertheless, despite the rise, inflation is running hotter, and we know that neither the Treasury nor RBA expect real wages growth for the next couple of years. On the other hand, stronger wage rises will stoke inflation further.
The latest edition of our finance and property news digest with a distinctively Australian flavour.
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DFA Live Q&A HD Replay CBDC Vs Crypto: Who Wins? With Adam Stokes
This is an edited version of a live discussion about the current FTX debacle, the trajectory of Crypto, and the rise of Central Bank Digital Currencies. Is the future one of “harder, faster safer money”?
https://www.youtube.com/c/AdamStokes24
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FINAL REMINDER DFA Live: Crypto Vs CBDC With Adams Stokes 8pm Sydney Tonight
Join us at 8pm Sydney time for our regular live event this week we will be looking at the latest ructions in Crypto, and what we can learn from it, as well as how Central Bank Digital Currencies are playing into the argument.
If one Bitcoin always worth one Bitcoin, how does the concept of “trust” play into the evolution of digital finance?
New Zealand Home Prices Take Another Knock…
The latest from the REINZ Home Price Series, with some interesting twists, but still looking weaker in terms of sales volumes, longer days on markets and some compositional change as illustrated by the differences between the HPI Index and Median Prices.
With more rate rises expected, and higher fixed rates ahead, expect more weakness.
https://www.reinz.co.nz/residential-property-data-gallery
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Another Topsy Turvy Day!
Monday ended up a down day on Wall Street ‘s main indexes ended lower on Monday, as investors digested comments from U.S. Federal Reserve officials about plans for interest rate hikes.
Losses accelerated toward the end of the up-and-down session, with focus turning to Tuesday’s producer price index report and markets highly sensitive to inflation data. real estate and discretionary sectors leading broad declines.
The Fed Outings included Christopher Waller on Sunday who said the Fed may consider slowing the pace of increases at its next meeting but that should not be seen as a “softening” in its commitment to lower inflation. Monetary policy tightening “isn’t ending in the next meeting or two”, and Fed Vice Chair Lael Brainard who signalled that the central bank would likely soon slow its interest rates hikes but added that there still was “additional work to do on raising rates.”
“There is still a sensitivity to Fed speak… One was a little hawkish, one was a little dovish,” said Eric Kuby, chief investment officer at North Star Investment Management Corp.
Today’s post is brought to you by Ribbon Property Consultants.
Its Edwin’s Monday Evening Property Rant!
My latest chat with our Property Insider, as prices in NSW get a kick-up from the stamp duty changes, China stops more migration and auctions are not what they seem.
https://www.ribbonproperty.com.au/
Go to the Walk The World Universe at https://walktheworld.com.au/