Inflation is easing
The used car price bubble is bursting in the US, with prices down 13 per cent from the highs.
Lumber prices have plunged 64 per cent so far this year, and are back to pre-COVID levels.
Meanwhile shipping container costs are down around 80 per cent and also back to pre-pandemic levels.
Chris Weston of Pepperstone shows how markets are now expected inflation to return to 3 per cent quite fast from here.
Source: Chris Weston, Pepperstone
In just three weeks US 30-year mortgage rates have eased from 7.1 per cent to around 6.5 per cent as markets price in the rapidly changing environment.
Concerns in the US are likely to shift now from inflation to a lack of growth.
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Alex Joiner of IFM Investors shows how Australia's labour force supply is lifting fast with the borders open and migrants arriving.
