"Intelligent Insight"
This is an edited edition of a live discussion about the current state of the financial system and whether it’s fit for purpose featuring both John Adams, and also Robbie Barwick from the Citizens Party.
Go to the Walk The World Universe at https://walktheworld.com.au/
In my coverage of Fintech, I caught up with the Founder and CEO of Tanggram.com. a wealth management start-up with an emphasis of Gamification.
Conceived in 2016, the venture has had multiple rounds of funding, and most recently went to a crowd sourcing equity funding, so we discussed this method of raising too.
Note: DFA has no commercial relationship with Tanggram
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The Homebuilder programme was discussed in Senate Economics Legislation Committee today and revealed that the original budget of around $680 million blew out to over $2.7 billion dollars, and that it was responsible for helping to push up the costs across the construction industry. In addition, renovations were a large part of the exercise, wtih few controls on what could be renovated, Sounds like massive waste of taxpayer money.
Go to the Walk The World Universe at https://walktheworld.com.au/
Join me for a live discussion about the current state of the financial system and whether it’s fit for purpose.
I will be joined by John Adams and also by Robbie Barwick from the Citizens Party. https://citizensparty.org.au/
You can ask a question live.
Go to the Walk The World Universe at https://walktheworld.com.au/
The latest edition of our finance and property news digest with a distinctively Australian flavour. On Monday US Equity markets rose and the dollar slid, driven by the idea that China may ease COVID restrictions, the prospects of a GOP rise in the mid-terms and hopes the U.S. economy is slowing enough to allow the Federal Reserve to ease its aggressive hiking of interest rates.
While a divided Congress is typically viewed as good for markets, the hope the U.S. economy is losing enough momentum for the Fed to slow the pace of monetary tightening pushed the dollar lower, said Joe Manimbo, senior market analyst at Convera in Washington. “The market is really desperate for the Fed to pivot,” Manimbo said. “It will take anything it can get in terms of signs of a softening economy to hold out hope that a pivot might materialize sooner rather than later,” he said.
The relatively strong U.S. jobs report last week ensured the Fed will be in no rush to ease policy, though the pace of rate hikes may slow as the U.S. central banks keeps rates higher for longer, a view that pressured Treasury yields higher.
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The latest from our property insider Edwin Almeida. We look at the latest listings numbers, the auction of 2022, and all the normal Monday stuff…
https://www.ribbonproperty.com.au/
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Adams and North caught up with Senator Bragg, who has launched the ASIC inquiry.
We discuss the purpose of the review, the process, and the nature of the submissions the review would like to see.
https://www.aph.gov.au/Parliamentary_Business/Committees/Senate/Economics/ASICinvestigation
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Another outing thanks to Cookie’s research. More evidence of falling prices, this time in a region to the west of Brisbane.
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A look at price falls in NSW, thanks to Cookie.
Go to the Walk The World Universe at https://walktheworld.com.au/
The latest edition of our finance and property news digest with a distinctively Australian flavour.
Ricochet is defined as a glancing rebound (as of a projectile off a flat surface). And in the markets, we are seeing that in spades at the moment.
So, in this week’s market review we will as normal start in the US, cross to Europe and Asia and end in Australia. But I want to stress how volatile things are, in a situation where good news is bad news, expectations of a recession or slow down are growing, and Central Banks are still generally talking interest rates higher.
Plus, as I discussed yesterday, there is a growing divergence between the RBA’s approach compared with other Central Banks, to the point where we risk higher rates for longer in a slowingeconomy, which is exposed not only to exchange rate risks, but also a slowing China.
The Dow gained Friday as investors mulled a mixed jobs report and speculation about China easing Covid-19 lockdown measures, but that wasn’t enough to prevent the marketfrom snapping a three-week win streak following the Fed’s rate hike this week.In fact, global shares rose on Friday and the U.S. dollar fell, after jobs data came in stronger than expected but also hinted at some slack in the tight American labor market,triggering again that hope that the Federal Reserve might ease up on monetary tightening –despite what was said just a day earlier about higher rates.
Data from the U.S. Bureau of Labor Statistics showed the economy generated 261,000 jobs in October. That was higher than an estimate of 200,000expected but it also showed unemployment rising to 3.7% from 3.5% in September while wage inflation dropped to 4.7% from 5% in the prior month.Average hourly earnings increased 0.4% after rising 0.3% in September, but the rise in wages slowed to 4.7% year-on-year in October after advancing 5.0% in September.The participation rate eased back a little to 62.2%.The stronger jobs report comes just ahead of fresh inflation data next week, which if continues to show inflation running hot would lift the prospect of another 75 basis point hike next month.
In Australia. Afterpay-owner Block led the Australian sharemarket higher on Friday after reporting a stronger-than-expected third quarter profit, causing its share price to leap 10.9 per cent to $97.03.
The S&P/ASX 200 added 0.5 per cent, or 34.6 points, to 6892.5 on Friday, lifting its weekly gain to 1.6 per cent. The broader All Ordinaries index added 0.6 per cent to 7089.3 on Friday.
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