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The war might be in Ukraine, but we're all going to feel it
Posted on Thursday, March 10, 2022
Have you felt the pain at the petrol bowser yet? Blame Vladimir Putin. The Russian President’s invasion of Ukraine is already having global impacts. While Ukrainians suffer through the very real fear and danger of missiles raining down on them, the rest of the world has also started wearing the consequences, as the sanctions against Russia start to impact global supply lines and spur on inflation. The even worse news is petrol prices are expected to rise north of $2.50 per litre, with some pundits predicting $3 per litre might be on the horizon. This is exacerbated by the fact that many Australians, Melburnians in particular, are still tentative to get back on public transport thanks to COVID, which means we’re churning through the petrol more than we ever have. Obviously, a bit of pain to the hip pocket for us here doesn’t compare to the horrible suffering that Ukrainians are going through, but the point is that while this war may feel a long way away, we ...
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How the floods up north and the war in Ukraine impact us all
Posted on Wednesday, March 2, 2022
The floods in NSW and QLD are beyond devastating, with flood waters in some cases up to 15 metres. Unthinkable really, and our thoughts and prayers are with our neighbours in the north. However, we’re a nation that’s used to natural disasters, from floods, to storms, to bushfires. And the conversation that often arises when these horrible things occur, centres on insurance. When thinking about all your insurances, it’s important to consider what you’re covered for, but also what you’re not covered for. For example, there is a difference between flood and storm damage coverage, just as there is a difference between trauma and critical illness policies. Similarly, there are some travel insurance providers that are now excluding COVID coverage, particularly in the US. The lesson is to make sure you’re actually covered for what you believe you need to be covered for. The downside is that the more coverage you have, the higher your premiums are likely to be. But in the ...
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Global sharemarkets are looking ugly on the back of Russia v Ukraine
Posted on Thursday, February 24, 2022
The unrest around Russia and Ukraine has given investors that much more to be worried about. With the increase in global sanctions, the market is now pricing in higher energy prices and seeing significant risk aversion. This has been highlighted by the Nasdaq which has now tumbled more than 15% so far this year, while the S&P500 confirmed a correction in the previous session, when the index ended down more than 10% from its 3 January closing record high. Our share market has only fallen 7%, largely due to a much better than expected reporting season from the banks and the big miners. So where to from here? Do you just ride the wave, or trade? For most of us who are invested in superannuation, our employers are making contributions at weekly, monthly or quarterly intervals, so we are buying into this market. For others it depends on your risk profile and what I like to call the ‘sleep test’. That is, can you sleep at night with your current or f ...
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Ignore the RBA, the CBA has made its rate call
Posted on Wednesday, February 16, 2022
We’ve spoken a lot recently about interest rates and inflation, with the Reserve Bank hinting repeatedly last year that it doesn’t intend to increase the official cash interest rate until 2024. But it appears the tides are changing, and that interest rate increase could come sooner than expected. Last night on Money News I interviewed Gareth Aird, the head of Australian Economics at the Commonwealth Bank. Mr Aird gave us some insight as to how the CBA sees the next 12 months playing out, and it’s not great news. The CBA expects: the RBA will lift rates by 0.15% in June. the RBA will make 3 more rate rises by the end of the year, as they rarely do a singular rate rise. the CBA sees inflation growing by around 1.5% for the March quarter. 2023 will see double-digit percentage falls in the property market. What does that mean for you and me? The obvious answer is increased mortgage costs for property owners, and increased rents for tenants. That might seem obvious, bu ...
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You've heard of COVID-tentativeness, but what's petrol-tentativeness?
Posted on Wednesday, February 9, 2022
Investors across the world are quickly coming to terms with the new normal: higher interest rates. Reserve banks in New Zealand, the US and UK have either increased rates already, or said they’re going to do so soon. But not in Australia, where with a federal election looming, the RBA is going to sit on its hands for at least a while longer. However, unlike the RBA, inflation doesn’t have the option to sit around and watch the show and is steadily on the increase. This week the world is watching how the US Federal Reserve will react to intensifying price pressures, with many investors eyeing Thursday's consumer price index data release (Friday morning our time) as a key event for markets this week. The inflation data is expected to show that prices rose 0.4% in January, for a 7.2% gain from one year ago, which would be the highest in almost 40 years. So, while we may not be feeling the pain on our mortgages just yet, we can expect to feel it at the bowser with petrol prices set to push throu ...
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