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Sector spotlight: Supply chain inflation

With the inflation debate well and truly established as an investment theme, we spoke to Australian supply chain insiders to get a snapshot of exactly what is going on in their businesses. Perpetual SHARE-PLUS Long-Short Fund Portfolio Manager Anthony Aboud takes us through the findings. Fund manager quarterlies and stock broking strategy pieces are coming…

Could inflation be the painful hangover of excessive policy?

When Freddie Mercury penned the eventual smash hit “Don’t Stop Me Now”, little did he foresee how the lyrics and growing song popularity would be analogous to market conditions today. Originally released in 1978 on the group’s album Jazz, the song only reached 86 on the USA’s top 100.  Forty years later, “Don’t Stop Me…

Investor Signposts: Week Beginning 22 November 2021

Australia: Spotlight on business investment and construction data · In the coming week, there are a couple of indicators to be released that are key inputs into the September quarter economic growth (GDP) calculations – business investment and construction work activity. · The week kicks-off on Tuesday when ANZ and Roy Morgan jointly release the…

Investor Signposts: Week Beginning 15 November 2021

Australia: Reserve Bank and wages data dominates In the coming week, the Reserve Bank dominates the Australian financial markets calendar. And the main economic data to watch is the Wage Cost Index on Wednesday. The week kicks-off on Monday when the Australian Bureau of Statistics (ABS) releases industry multi-factor productivity data. One for the purists….

Vital Signs: Marketing is getting in the way of markets

This week the prime minister entered full marketing mode. Scott Morrison’s topic was climate change and his plans to get to net-zero. At the Victorian Chamber of Commerce and Industry on Wednesday, he tried out a few slogans. Among those he test marketed: can do capitalism, not ‘don’t do governments’ no one passed a law…

Unsustainable markets the new abnormal

Ferris Bueller would be proud. The RBA’s day off set the cat amongst the pigeons. That free market interest rate pricing bore no resemblance to the market price should have been obvious. It did not stop those accustomed to turning up at the auction every day to sell their overpriced bonds to an overly enthusiastic…

Investor Signposts: Week Beginning 8 November 2021

Australia: Jobs data dominates In the coming week, there is plenty for investors to watch, including the October jobs data and business and consumer sentiment surveys. The week kicks-off on Monday when the National Skills Commission issues preliminary results for the October Internet Vacancy Index. Skilled job vacancies rebounded by 4.9 per cent in September….

Will Australia see a volatile recovery?

The rotation to an economic recovery favouring value stocks continues but risks loom on the horizon. Perpetual’s Head of Equities, Paul Skamvougeras, looks at the lessons learnt from reporting season and the trends he expects to see as NSW and Victoria reopen. A strong August reporting season for our portfolios vindicated many of our positions….

Are markets worried about a correction?

Earlier this week I was taking questions on the markets alongside the publication of my quarterly investment outlook. We kicked off with a deceptively simple one. It asked whether, given the increasing likelihood of a sharp correction in markets, it made sense to sell up into cash. The question was made more interesting by the…

Building more houses quickly is harder than it looks

Thanks to HomeBuilder and the housing price boom, house building is experiencing its hottest year on the record. Over the space of a year the number of houses (not apartments) under construction has jumped from 56,060 in the June quarter 2020 to 88,445 in the June quarter 2021 — the biggest peak of all time….