We look at the latest from the Reserve Bank, and consider the mismatch between the RBA view and market view of rates. There a a cogitative dissonance between the two.
Underlying this is the horrid truth, both Government and RBA seems to want to keep rates below inflation, thus disadvantaging savers while supporting more lending, despite the high leverage. This leaves the high risk of policy missteps, especially if the FED lists rates to tackle inflation.
Go to the Walk The World Universe at https://walktheworld.com.au/
Join us for a live Q&A as I discuss the intersection of Politics and Economics with Professor Steve Keen (he has just written a new book) and the Founder of the New Liberals Victor Kline.
You can ask a question live via the YouTube chat feature. I also made a short introductory show about what I hope to explore. This is an important episode.
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.
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APRA released their Macro-prudential Framework for consultation. We look at their approach, and consider the implications. Spiced wet lettuce comes to mind!
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/
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/
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/
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/
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Go to the Walk The World Universe at https://walktheworld.com.au/
In tonight’s live show Adam Stokes and I discuss the state of Crypto, as mainstream players impinge from all sides. Who wins? You can ask a question live via YouTube Chat.
