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Bi Monthly Market Update | Momentum across the board – Corporate earnings…

By Drew Dwyer

Momentum across the board – Corporate earnings…

  • The US and Emerging markets are leading the post COVID recovery, but all major markets are showing strong earnings momentum with boom PMI’s (Purchasing Managers’ Index). Ahead, vaccine rollouts, ongoing stimulus, and rising confidence will drive additional strong growth and earnings momentum. In the US, economists were surprised by an April 4.2% leap in year-on-year CPI, the fastest pace since 2008.
  • Global shortages and bottlenecks are interfering with global supply chains.  A stark example is the cost of a shipping container – “a 40-foot container from China to Australia 12 months ago would cost $1,200-$1,800. Last month, it was $5,500”. AFR
  • Iron Ore shipments to China hit another record high in April helping to bolster our nation’s trade surplus to $10.1 billion – the third-highest on record.
  • Speculators had driven Iron Ore prices to new records, believed to be above fundamentals, so China decided to intervene which has resulted in a 20% drop over the last two weeks. Iron Ore is now at $US 187/t.
  • The S&P ASX-200 was up 1% yesterday and is at 7,105.9. The Aussie dollar is $US .777c.
  • Banks have started to lift rates on fixed-term mortgages and everyone is complaining that Finance Approvals are taking 40-60 days. Make sure you allow adequate time in your Offers & Acceptances (obviously, when Listed with our Team of professionals it’s one of the many things we stay on top of for you).
  • Perth’s top-end affordability is clear again as the East Coast market continues to make records. The $20 million + sale of an apartment in Sydney’s Barangaroo is a case in point.  Apartments start at $9.4 million for a two bedder. Mind blowing!
  • This relative affordability and the lack of rental stock are driving demand in Perth’s Western Suburbs. Call me soon before you see your Buyer on his way back home to the East Coast.

Authored by Jody Fewster

Please call 0414 688 988 if I can provide you with a current market appraisal and detailed marketing plan for your home or investment property. Please click here to read some of my testimonials.
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