Nfib Small Business optimism and we will get retail sales at 8 30 a. M. And earnings before the bell. Scarlet fu will take us through jpmorgan at 7 a. M. With earnings. Bill cohan will join us. How many big banks are there . Five or six. We will have earnings all week. We will have a lovely roundtable like states of the bank. Falling revenue. This is a data check. Everything is up a little bit after the fade yesterday. There is a lot of other Global Statistics just as weighty. Vxx was under 12 yesterday. Gold was 1250 when i walked in the door. The chinese currency is strong. Lira moves through new weakness. I dont want to overplay this. This is the beginning of the year and you can see we faded yesterday after 10 p. M. Its not a plunge. Busy yesterday about 3 p. M. And then it got even busier. We skerritt we scoured the papers. A new year, new leaf for congress . We have seen the house and Senate Negotiators agree on a budget through september. They unveiled a 1. 1 trillion spending p
Investor sell-down sinks Melbourne house prices
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Australians very bullish on house prices
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Following last week’s update on aggregate wage inflation, Westpac revised its profile for wages growth over 2023 and 2024. In essence, the update speaks to a broad-based moderation in the pace of wage inflation. This is certainly highlighted by the softer-than-expected outcome for the headline figure in June, up 0.8% (3.6%yr), but is also witnessed to by the detail. The moderation is evident across most components of the data, not only in the breakdowns by sector and by bargaining arrangement, but also if bonuses are included or only those who received a pay increase are considered. The next update for September quarter 2023 will capture an above-average increase in the minimum wage (5.9% in 2023 vs. 4.7% in 2022) in addition to the 15% pay raise for aged care workers. Still, factoring in that strength – a forecast 1.3% gain – is still not enough to offset the broader moderation at play, leading us to revise down our year-end forecast for wages growth from 4.1%yr to 3.8%yr.