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.
Thursday, 2 March 2017
Record surge in commodity prices
The Reserve Bank of Australia's Index of Commodity Prices recorded another solid 1.7 per cent gain gain February in SDR terms, following on from a revised 4.2 per cent increase in January.
The spectacular rebound follows a long decline in commodity prices from 2012 to early 2016.
After a remarkable run since January 2016, the figures for spot prices suggest that a peak may soon be in, with coking coal prices recently retracing, although the iron ore price has remained very strong for now.
Over the past year the index has increased by 56 per cent in SDR terms, with the last two months notching the largest annual percentage gains on record, also driven by coal and iron ore.
In Aussie dollar terms the index is up by 41 per cent over the year to February. .
With LNG exports now accounting for a greater share of GDP growth, other key trends to watch will include the price of oil and the contract export prices for LNG.