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We still may get a Santa Rally…

By Jody Fewster
  • Corporate America is in good shape with third quarter earnings season showing a better-than-expected +5.4% change in the S&P 500 year-on-year.
  • We are not the only country suffering a housing shortage. The US is also in crisis with vacancies at all-time low of 0.8%.
  • If data on the economy and inflation prove hotter than expected, the RBA minutes have flagged the potential for another rate rise (most likely in February if at all).
  • Yesterday the Aussie dollar hit a four-month high of US 65.8c off the weaker greenback as investors bet that US rates have peaked.
  • Iron Ore hit a nine-month high (above $US 130/tonne) on expectations of more economic stimulus in China.
  • Resource and energy stocks pushed the S&P/ASX 200 up yesterday to 7,078. We are down today.
  • On the local housing front, stock levels remain extremely tight. There are only 2,500 homes for sale in Perth and there are only 1,300 houses you can rent.
  • Call me today to see how this skin-tight market affects you and your home value.
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