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.
Saturday, 7 November 2015
US unemployment down to 5% (Fed to lift off?)
Payrolls beat expetcations
The US Bureau of Labor Statistics released its payrolls report and the result smashed expectations of +180,000 jobs, with the economy adding an estimated +271,000 positions in October.
It looks as though a December interest rate hike really could finally be live.
There were additional employment gains totalling +12,000 from revisions to the preceding two months, meaning that US businesses have added around 13 million jobs since the end of 2009.
Average monthly employment gains ticked up to +230,000 for the past 12 months and +206,000 for the calendar year to date (this is still some way lower than the massive +260,000 monthly average in 2014).
Meanwhile the unemployment rate ticked down to 5.0 per cent which is the lowest recorded since April 2008.
Job gains were seen across professional and business services, health care, retail trade, food services, and construction, while average earnings were up by +2.5 per cent over the year.
Markets are now pricing a 72 per cent chance of a hike in December.
The Aussie dollar dropped sharply by around 1 per cent on the news, potentially helpful news for the domestic economy.