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).

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 is 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 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'.

"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 of the world's most popular & widely-read financial publications.

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

Wednesday, 7 September 2016

National Accounts day! (100 not out)

Headline GDP looks good

Favourable GDP partials have been reported this week.

Although net exports will be a drag this time around, there was a particularly a big drive in public demand (+2.7 per cent) including a surge in investment, suggesting that today's National Accounts could show that the economy grew anywhere from +3.3 to +3.5 per cent over the year to June.

Watch out for downward revisions to the first quarter.

This will notch up an amazing 100 consecutive quarters without a technical recession for Australia.

The terms of trade also posted a welcome +2.4 per cent increase in the June quarter.

All great news.

On the other hand, the mostly ignored Balance of Payments figures showed the current account deficit widening from $14.9 billion to $15.5 billion in seasonally adjusted terms.

Meanwhile, net foreign debt rose by $22 billion to $1,044 billion from $1,022 billion in March, and as a share of annual GDP net foreign debt rose to a fresh high of 63.8 per cent. 

Of course, borrowing is very cheap right now, so debt servicing costs are at a 15-month low in declining from 8.1 per cent to 7.2 per cent.

I'll take a look through the National Accounts later.