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'.

Sunday, 2 July 2017

Iron ore bounces 22pc

Dirt rally

Something of an upside surprise given recently reported record high Chinese port inventory levels. 

Yet Australia's most valuable commodity has notched up a welcome 11 gains from the last 12 trading sessions, in doing so rising by nearly 22 per cent from its recent nadir.

The 62% Fines Fe benchmark iron ore spot price closed out the financial year a little under 17 per cent higher at US$64.71/tonne.

A recent speech by the Chinese Premier Li Keqiang may in part account for the magnitude of the rebound. 

The best explanatory commentary, as ever, can be found here at Business Insider. 

Leia's paradox

The Aussie dollar remains rather too high for comfort, trading at just under 77 US cents. 

But, then again, can that really be a surprise when ex-RBA Board Members are publicly anticipating a tightening cycle which could start soon and may be neither gentle nor gradual?

For the record, Bloomberg's recent survey of economists reported a median result of the cash rate staying flat at 1.50 per cent over the year to June 2018, with several forecasting houses still anticipating further cuts.