The markets are hopping… Happy Easter!

• Renewed rate cut expectations triggered a global rally in equities that pushed benchmarks from the US to Japan and Europe to record highs last week.
• The S&P ASX/200 is within 51 points of its record. Now trading at 7,802 as I type. I suspect there will be some profit taking later in the week.
• I am less bullish on the chances of our interest rates coming down before the end of the year end due to our “sticky” services inflation and low unemployment rate of 3.7%.
• Today’s AFR reports that, “Perth posted the sharpest increase in the share of profit-making sales at 91.6%, reflecting the city’s strong showing over the past 12 months. At this level, the Perth market is now more profitable than Melbourne”.
• We are still under 4,000 properties for sale in Perth, and this time last year it was 7,335.

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