The Never-Never Evergrande!

Well, the China Evergrande saga rumbles on, as the ramifications of an easing Chinese property sector play out. Bloomberg reported that some China Evergrande Group bondholders received an overdue interest payment shortly before the expiry of a grace period, buying more time for the debt-stricken property developer as it tries to raise cash through asset sales. The shares were up nearly 10% on Friday to 2.78, well off recent lows, but then if you take a longer – say 6th month view then the story is rather different. Still on the mat. Though I still see some analysts saying both bonds and shares are a distressed bargain… we will see.

Certainly. certain holders of the 9.5% dollar note maturing in 2024 received notification they had been paid last Thursday. Evergrande skipped an interest payment due Sept. 29, starting the clock on a 30-day grace period before investors could declare a default. It’s the second time this month that the debt-stricken property developer avoided default.

Go to the Walk The World Universe at https://walktheworld.com.au/

APRA Adds A Little Late Spice To Its Mortgage Wet Lettuce!

APRA released their Macro-prudential Framework for consultation. We look at their approach, and consider the implications. Spiced wet lettuce comes to mind!

https://www.apra.gov.au/news-and-publications/apra-sets-out-framework-for-using-macroprudential-tools-to-promote-financial

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

The Alarm Bells Are Ringing: With Tarric Brooker

My latest Friday afternoon chat with journalist Tarric Brooker covers monetary policy, inflation, politics, and of course his famous slides! You can find him at @AvidCommentator on Twitter.

Go to the Walk The World Universe at https://walktheworld.com.au/

Employment Numberwang 2.0

TV show That Mitchell and Webb Look included many recurring sketches, including Numberwang which is a “maths quiz” game show in which two contestants, Simon and Julie (Paterson Joseph and Olivia Colman), call out numbers until the host (Webb) declares “That’s Numberwang.” The rules of the game are left completely unexplained to the viewer, and appear to follow no logic whatsoever, to the point that sometimes the gameplay contradicts itself (for instance, a character giving an answer which is deemed wrong, immediately followed by another character giving the exact same answer which is deemed correct.) Despite this, all character’s onscreen act as though the rules are clear and obvious.

I think the ABS employment data, out today follows the same rules. according to figures released today by the Australian Bureau of Statistics (ABS) the national underemployment rate increased by 0.3 percentage points to 9.5 per cent in October 2021.

Go to the Walk The World Universe at https://walktheworld.com.au/

Pop Goes The Inflation Weasel – The DFA Daily 11 Nov 2021

Like it or not the shadow of inflation continues to cast a long shadow over the markets and the economy. No surprise then that Wall Street lost ground on Wednesday as surging consumer prices fueled fears of a longer-than-expected wave of heightened inflation. As a result, all three major U.S. stock indexes were in negative territory, extending their losses and adding to Tuesday’s sell-off which snapped the S&P 500’s and Nasdaq’s eight-session runs of all-time closing highs.

The latest edition of our finance and property news digest with a distinctively Australian flavour.

Go to the Walk The World Universe at https://walktheworld.com.au/

Inflation Fears To The Fore: DFA Daily 10th Nov 2021

In today’s show we check in on US markets as new economic data suggests to some that inflation may be peaking. Then we look at the NAB results, where margin compression is actually the main story, consider how Blockchain may impact property, and whats expected from today’s Chinese data on inflation, which is running hot.

The latest edition of our finance and property news digest with a distinctively Australian flavour.

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.

Go to the Walk The World Universe at https://walktheworld.com.au/