Pete Wargent blogspot
Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), and CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).
4 x finance/investment author - 'Get a Financial Grip: a simple plan for financial freedom’ (2012) rated Top 10 finance books by Money Magazine & Dymocks.
"Unfortunately so much commentary is self-serving or sensationalist. Pete Wargent shines through with his clear, sober & dispassionate analysis of the housing market, which is so valuable. Pete drills into the facts & unlocks the details that others gloss over in their rush to get a headline. On housing Pete is a must read, must follow - he is one of the better property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.
"Pete Wargent is one of Australia's brightest financial minds - a must-follow for articulate, accurate & in-depth analysis." - David Scutt, Business Insider, leading Australian market analyst.
"I've been investing for over 40 years & read nearly every investment book ever written yet I still learned new concepts in his books. Pete Wargent is one of Australia's finest young financial commentators." - Michael Yardney, Australia's leading property expert, Amazon #1 best-selling author.
"The most knowledgeable person on Aussie real estate markets - Pete's work is great, loads of good data and charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, and author of the New York Times bestsellers 'End Game' and 'Code Red'.
"Pete's daily analysis is unputdownable" - Dr. Chris Caton, Chief Economist, BT Financial.
Friday, 20 March 2015
ASX to a 7 year high
Reserve Bank Governor Glenn Stevens made some remarks today to the American Chamber of Commerce.
Some of the key points included that :
Share markets absorbed the likelihood of further interest rate cuts and went on another run, while the implied cash rate futures yield curve is pricing in a cash rate of 1.75 percent as far out as August 2016.
Despite this the next rate cut looks more likely to take place in May rather than April for a couple of reasons, including the Board's awaiting of further inflation and housing market data.
The ASX 200 (XJO) added another 24.7 points to close at 5975.50, a fresh 7 year high.
We are now getting close to the psychological 6,000 barrier.
There was a new all-time record high for Commonwealth Bank, up 71 cents or 0.5 percent to $96.32, valuing the behemoth at a market cap of well over $155,000 million.
Household wealth surging higher
Next week the ABS will release its latest Finance and Wealth data for December 2014.
The Q3 2014 showed aggregate household wealth breaking new record highs, if average household is yet to recover its past glories.
With share markets at a 7 year high and dwelling prices rising, we can clearly expect to see new record highs in Q4 2014 and Q1 2015 too.