Pete Wargent blogspot

Co-founder & CEO of AllenWargent property buyer's agents, offices in Brisbane (Riverside) & Sydney (Martin Place), & CEO of WargentAdvisory (providing subscription analysis, reports & services to institutional clients).

5 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's one of the finest property analysts in Australia" - Stephen Koukoulas, MD of Market Economics, former Senior Economics Adviser to Prime Minister Gillard.

"Pete 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 & charts, the most comprehensive analyst I follow in Australia. If you follow Australia, follow Pete Wargent" - Jonathan Tepper, Variant Perception, Global Macroeconomic Research, author of the New York Times bestsellers 'End Game' & 'Code Red'.

"The level of detail in Pete's work is superlative across all of Australia's housing markets" - Grant Williams, co-founder RealVision - where world class experts share their thoughts on economics & finance - author of Things That Make You Go Hmmm, one of the world's most popular & widely-read financial publications.

"Wargent is a bald-faced realty foghorn" - David Llewellyn-Smith, 'MacroBusiness'.

Saturday, 2 April 2016

US recovery continues

Payrolls beat

The US economic recovery continues steadily with another +215,000 jobs added in March according to the Bureau of Labor Statistics (BLS), just beating consensus forecasts of around +200,000 or so to rack up a 73rd consecuctive monthly gain. 

Retail trade was once again very strong, adding +48,000 jobs and construction had another big month, while manufacturing and mining were again weaker performing sectors.  

There were only moderate revisions to the January and February figures, and so for the year to date the economy has been averaging +209,000 jobs per month, a bit slower than the pace of gains sustained through 2015, but solid nevertheless. 

The participation rate has improved over a period of time to 63 per cent. There were around 8 million unemployed persons, and the unemployment rate ticked up to 5 per cent, with the 3 month average unemployment rate essentially remaining flat. 

The closely observed average hourly earnings figure increased by 7 cents to $25.43, after the slight decline last month (highlighting the fallacy of drawing strong conclusions from one month of figures). Year-on-year average hourly earnings were up solidly by +2.3 per cent. 

Overall, a pretty good set of numbers, suggesting that the US economic recovery remains on track.

That said, markets are pricing a long, slow haul for the tightening of interest rates...