Stop-start-stop and more…

• The US is at it again, escalating a trade war with Canada, where 50% tariffs are being imposed and retaliated, dollar for dollar. Relations have deteriorated, with Trump even threatening to rename Lake Ontario as Lake America. What next?!
• Relations are no better with Iran, with peace ended as the US threatens an “economic D-Day”. Sanctions on any country aiding and abetting Iran are hoped to bring the regime back to the negotiating table. Good luck with that.
• Australia’s Gross Government Debt crossed the $1 trillion mark – we are now paying more in interest costs than we spend on the Army. Not how I was taught to manage the books at Harvard.
• Inflation data just out is above forecasts for both headline and trimmed mean which suggests the RBA may be closer to a rate rise than a cut at their next meeting.
• S&P/ASX 200 is trading lower post the CPI read at 9,141. The Aussie dollar is up at US71.62c.
• On the commodities front, Gold is up 17% since January at its highest in nearly 3 months at US$4,602/oz; Copper is still going up US$6.80/lb just shy of another record close, and markets seem almost bored with Brent oil which is down nearly 5% to US$85.95 a barrel.
• It’s now the price of diesel where all the concern lies – as futures are trading around $100 above those of crude oil. Diesel is a major inflationary force due to a dearth of diesel refinery capacity worldwide, following effective attacks by Ukraine on Russian refineries.
• On the property front, Perth’s western suburbs are holding up well. Buyers are trying to claim control, but that’s a falsehood based on East Coast reporting. Limited supply is the key here – check out the table below.
• Call me today to find out whether your property could fill a gap in this market.

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