• Recent jobs data shows that Delta is slowing but not halting the US recovery.  Rising wages are showing continued tightness in the labour market. Overall unemployment fell from 5.4% to 5.2%.
• Chinese efforts to cut Steel production combined with a pickup in supply dragged Iron Ore to a 7-month low on Monday; trading now up slightly $US 138 a tonne.
• China’s share of global GDP will increase to 18.8% in 2021 up from just 7.7% over the past two decades.
• The price of Aluminium hit a 10 year high on Monday after the coup in Guinea led to uncertainly over the supply of Bauxite.
• As expected, the RBA left the official cash rate on hold at 0.1%, reiterating they expect rates to stay low until 2024. Less expected was their move to taper bond-buying adding further liquidity to markets which is a positive for asset prices.
• In the RBA’s statement, Dr Lowe acknowledged lockdowns would trigger a “material” downturn in the September quarter. The good news is that he expects the economy to be back on its pre-Delta path by the second half of next year.
• The ASX closed higher on that news and is now at 7,512. The Aussie dollar is at US$ 74.1.
• All eyes are on tomorrow’s State Budget with predictions of the biggest operating surplus of $5 billion. Great to see a large chunk of it will go to our ailing Health Care system.
• Whilst on an optimistic note – check out this short and funny TED Talk on Positive Psychology
• Corelogic has reported house prices across the combined Capitals have risen by 16.8% while regional house values were up by 14.7%.
• We are seeing a Spring time bubble that is hard to dismiss. So whilst we are COVID free and with limited stock, it’s a great time to sell. Call me for your plan.

Authored by Jody Fewster