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Macro Morning

November 26, 2021 - 09:30 -- Admin

Overnight share markets were relatively quite given the US Thanksgiving holiday with European shares finally putting in a decent positive session, while bond market volatility was lower due to the closed markets. The USD was down slightly against the majors although the Australian dollar remained below the 72 cent level, while gold continues to struggle

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Goldman: US yields continue to rise on faster taper

November 26, 2021 - 09:00 -- Admin

Goldman with the note: The November FOMC minutes provided little new insight into the FOMC’s tapering plans. All participants judged it appropriate to announce the start of tapering at the November meeting and “some” participants favored a faster taper, but the September minutes had already revealed that “several” participants advocated for a more rapid reduction

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For companies, not all inflation is created equal

November 26, 2021 - 08:00 -- Admin

TS Lombard with the note: Not all inflation periods are created equal: when inflation is “demand-pull”(pro-cyclical), corporates are able to pass on PPI increases to customers. Historically, margins improve when inflation is pro-cyclical and contract when it is counter-cyclical. The current regime is pro-cyclical; we remain positive on margins and equities. Rising input costs do

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Australia’s housing boom one of the biggest in 140 years

November 26, 2021 - 00:10 -- Admin

Realestate.com.au has examined 140 years of data and declared that the current Australian house price boom is the third biggest on record: It wasn’t until the 1950s that prices started to increase relative to other goods. Prices rose gradually at first, and then since the late 1990s began a period of very strong growth… The

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CoreLogic weekly house price update: Brisbane still booming

November 26, 2021 - 00:05 -- Admin

In the week ended 25 November, the CoreLogic daily dwelling values index increased another 0.25%: All major markets except Perth recorded rising values, again led by Brisbane and Adelaide: So far in November, dwelling values have risen by 0.97%, led by Brisbane (2.31%) and Adelaide (1.99%): Quarterly price growth remains turbo-charged but slowing at 4.09%

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Links 26 November 2021

November 26, 2021 - 00:01 -- Admin

Global Macro / Markets / Investing: OPEC Weighs Shift in Oil Policy After Crude Release – WSJ Inflation is about to get way worse in 2022 – Macleans JPMorgan’s Jamie Dimon and Tesla’s Elon Musk Feud Behind the Scenes – WSJ Cities with empty offices see new room to expand housing – Politico Fed members

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Macro Afternoon

November 25, 2021 - 17:00 -- Admin

Heading into the end of the trading week, Asian stock markets are starting to find some bullishness helped by lower domestic currencies across the region as USD remains very strong against most of the major currency pairs. Gold is climbing very slowly but has been unable to get back above the $1800USD per ounce level

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Sydney’s apartments are riddled with defects

November 25, 2021 - 14:30 -- Admin

Last month, NSW Premier Dominic Perrottet declared himself “someone who believes in a big NSW” and promised to lobby Prime Minister Scott Morrison to significantly lift the migrant intake: “We’re going to have a real discussion [about] catching up some of those numbers that we’ve lost during this pandemic,” Mr Perrottet said… “I’m someone who

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Is Australia poised for an offshoring boom?

November 25, 2021 - 14:00 -- Admin

Deloitte and KPMG will soon allow Australians to work remotely from overseas: Deloitte sent an email to its 3000 Australian staff on Tuesday outlining the new work perk, which would allow them to take a trip overseas and work remotely including in destinations like Britain, Singapore and India. It will allow them to extend overseas

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NZ’s property market is cruising for a bruising

November 25, 2021 - 13:30 -- Admin

The latest house price results from the REINZ shows that New Zealand’s property market is still booming, with prices growing a whopping 30% over the 12 months to October: However, the insane price growth alongside recent policy actions have left New Zealand’s property market in a precarious position in 2022, with potentially large price falls

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