Dear %%first_name%%,
Ok Mr Glenn Stevens, it’s time to stop playing nice and get more aggressive! That statement yesterday after the Big Bank left rates on hold was almost word for word the same as the last month. Mostly I’m on a unity ticket with the RBA Governor, but if the dollar stays high, there may be cause for another rate cut early next year. And if that happens Stevens also needs to come out big on how strong the economy is to avoid more negative headlines that are bad for the economy.
Because the economy is strong! On Monday, when half the country was recovering from Grand Final weekend, we had a run of very positive data.
- Job ads spiked 3.9%, the strongest gain in 15 months.
- The Performance of Services Index in September came in at 52.3 – any reading over 50 means the biggest employer sector in the country is expanding.
- Car sales in September were up 6.8% and a record 1,143,209 cars have been sold over the past 12 months!
But with conflicting reports on the economy, volatility will continue in our local markets, so what to do in these kind of markets? Well that’s why you need to subscribe to the Switzer Super Report and read articles like James Dunn’s yesterday who shared some secrets from the professional money makers.
It might surprise you but one of their top tips was to do nothing! Of course it’s easier said than done but it’s a very important lesson. Volatility may make you feel like you HAVE to do something, but the professionals are able to take a more clinical look at the markets, and know that it’s silly to do something just because you feel you should.
For more from the professionals subscribe today to read James’ article in full. It’s a good example of the kind of access we get to the best money minds in the business. If they’re not writing for us already, they’re always happy to talk to us!
Click here to learn more more about the Switzer Super Report, or call 1300 794 893 to speak with my colleagues.
Sincerely,
Peter Switzer