Seeing – markets within markets…

• Geopolitical tensions seem no clearer, as Iran’s major reshuffling of the country’s leadership favours anti-American hardliners, which doesn’t bode well for peace.
• Warren Buffett now has $570 bn in cash reserves, with many commentators suggesting, “the sky is darkening”. US equity markets are still humming along with AI investment, but perhaps it’s a caution around public and private Debt. US total public debt is around 100% of GDP, and deficits are running around 6% of GDP.
• After yesterday’s hold by the RBA, all eyes will be on next CPI read on 28 October. Inflation is still running too high, and the chance of an interest rate rise in November has risen.
• On the commodities front, Brent Oil is up at $US88.91 with the Strait of Hormuz still closed, Copper prices are near record highs at $US 14,378 a tonne (think all things AI), Gold is at US$4405 an ounce, and Iron Ore is at $US 95.34 a tonne.
• Stand-out indices at present are Japan’s Nikkei 225 at +33% year to date and our Metals and Mining at +19.5%.
• Earnings season has shown 77% of companies reported EPS that were stronger than consensus analysts’ estimates.  This is skewed to financial services and mining.
• On the property front, house prices are now falling in all Capital cities and new housing loans are down across all major banks post the Budget announcement.
• REIWA is reporting that there are now 6,852 properties for sale in Perth. What these stats don’t show is that there are markets within markets, so don’t believe everything you read in the press.
• The Western Suburbs remain tightly held, with limited choice for buyers. It’s no time for inexperienced negotiators to educate buyers. Having successfully weathered the GFC, staying in good stead with all my sellers and buyers, I can assure you,  I’ve got this, I’ve got you covered.

Jody Fewster

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