The well-read investor: All the highlights from the articles you probably weren’t going to read anyway.
1. Several rate rises possible, says former RBA insider Luci Ellis
AFR
Two weeks ago, former RBA deputy Governor Luci Ellis said rate hikes were done. Now, after the latest batch of data, she’s saying a number of rate hikes might be possible now.
There probably isn’t anyone in the pubic domain with better insight into the RBA’s thinking that Ellis right now. So we should pay attention.
2. Retail sales another warning shot for RBA
MacroBusiness
The problem is this: the economy is just not slowing quick enough. Last week’s inflation data were a shocker, but the most recent retails sales numbers came in hotter than expected too.
That’s a headache.
3. Spike in credit cards and personal loan demand suggests pain ahead
AFR
But while some sections of the economy are overheating, others are struggling. A surge in credit cards and personal loans suggests people are feeling stretched. Recessions aren’t painful for everyone, but for some people they’re devastating.
4. Peak fossil fuel demand is coming, IEA chief Birol says
CNBC
Remember we used to talk about peak-oil? The idea is that someday we just wouldn’t be able to produce enough oil to meet demand. We’re back to talking about peak-oil again, but this time the peak is in demand not supply, as global economies get on with the transition.
For me this shows that given enough time, humans are pretty good at getting out of the way of most train-wrecks.
5. Saudi Arabia Confirmed as Sole Bidder for 2034 World Cup
NY Times
And in more important news, Australia withdrew from the race for hosting rights for the 2034 World Cup, after the process devolved into something completely shonky, imho.
It’s a beautiful game, nested in ugly politics.
And now you’re all caught up. Have a power week!
JG.