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Bi Monthly Market Update | Equities running hot…

By Jody Fewster

Equities running hot…

  • Markets rallied hard yesterday after good news regarding vaccines plus the Government announced an extension to the JobKeeper/JobSeeker wage subsidies. The S&P ASX-200 closed up 2.6% at 6156.3 (only 14% off its all-time record).
  • Gold remains above US$ 1,800/oz, Iron Ore is at US$ 111 a tonne, with the Aussie dollar is at US$ .71c.
  • Our largest trading partner (China), continues to grow reporting a 3.2% increase in GDP amid a global recession; it’s hard not to be impressed.
  • All eyes on tomorrow’s economic update where Josh Freydenberg will report on unemployment (expected to hit a 22-year high) and National Debt (expected to be the largest deficit since WWII).
  • The Financial Review today reported that “Australia’s ‘safe-haven’ status from the Coronavirus in contrast to many advanced economies, such as the US, Europe, and UK will encourage investment in property….”.  Yesterday they reported, “The rich look to buy their way into Australia’s virus haven”.
  • Having just negotiated my largest deal ever, I see evidence the smart money is moving.
  • Aside from being an eternal optimist, I have to temper my enthusiasm with the thought that despite all the positives I can see in our long term future, I do feel if I was considering selling my home in the 12 to 18 months, I would sell now due to the lack of quality stock.
  • Call me for your Strategic Plan!
Authored by Jody Fewster
Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property.
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