Lots of betting, but not all on horses…

• After recent threats of renewed attacks (from all sides), there is somewhat of a pause in the Middle East, with the US midterms and elections in Israel distracting at least two of the actors. Riots in France have spread to several other European countries with the reasons behind the initial peaceful demonstrations all but lost.
• After the fizzle of Firmus, equity markets are a buzz with Anthropic’s IPO. The filing includes 93 pages outlining the risk factors!
• Today’s headline inflation jumped to 4.3%, with core inflation also up slightly at 3.7% in the 12 months to July, well above the RBA target range of 2-3% (and still heading in the wrong direction). All eyes are on Tuesday’s Melbourne Cup and/or the meeting for the RBA’s next interest rate decision.
• The S&P/ASX 200 dropped on the inflation read and closed at 8,847. The Aussie dollar is at US.70c. Interestingly, the AFR reported today that Aussie dollar short bets are at a record high, betting on a falling Aussie dollar. There is a relationship between sentiment around the technology sector and our risk-sensitive currency.
• Brent Oil is up at $US116 a barrel. Gold is up at $US4,016. Iron Ore is at a two-year low of US$89.25 a tonne (keep an eye on Chinese growth), and Copper is at US$14,515 per tonne.
• REIWA are reporting nearly 9,000 properties for sale in Perth. The Western Suburbs are offering a little more choice than a month ago, but supply is still very tight.
• Having sold almost all my homes, I have a huge number of buyers scrambling to acquire before the new school year. Many are happy with a longer settlement or a rent-back.
• Call me today for a confidential conversation about your next move.

Jody Fewster
Please contact me on 0414 688 988 or by email at jody.fewster@raywhite.com
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