Good morning, it’s Ainslie and Matt here for the first day of August. The RBA meets later today, but first…
Today’s must-reads:
• House price growth decelerated in July
• China’s lagging growth
• Futures point to positive open
Australia’s house price growth slowed in July as property listings increased, suggesting sellers are taking advantage of current market strength, including those struggling to meet their obligations after rapid interest-rate increases. Mortgage holders may feel more pain with economists and money markets divided over whether the Reserve Bank of Australia will lift rates at its meeting later Tuesday.
Australian equities futures are pointing to a strong open, after
global stocks finished higher in the final day of July. The S&P 500 notched its longest streak of monthly gains since August 2021, defying worries about an overheated market.
Economic growth in Australia’s biggest trading partner, China, is fading after decades of supercharged expansion. A much-anticipated post-pandemic recovery appears to have flopped, with data flashing warning signs across the economy. This time, the government’s traditional tools for reversing course may not be viable options. In the Bloomberg Originals mini-documentary China’s Great Slowdown, we look at why China’s slowdown could send ripples around the world.
Waste from winemaking may have uses in supplements, according to research from Monash University. Researchers found compounds in wine byproducts in can be made into a liquid that tastes and smells like a weak grape juice, and may have some health benefits. The polyphenols, which include things like resveratrol, and anthocyanins have been associated with protecting against health issues ranging from cancer to cardiovascular diseases and diabetes in some preliminary studies.
Up Next
House Price Growth Slows: Australia Briefing