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Weekly Overview March 21 - drought and $10 in Singapore
This week I look at the drought and how it probably
won’t create a recession, how it was worth giving $10 to a
bloke in Singapore but not $50, some positive financial
sector growth signs for Singapore, and I reference a US
survey producing similar foreign house sales data as for my
survey of last week.
Welcome to
the March 21 Weekly Overview.
A full pdf copy of the Weekly Overview is loaded here.
http://tonyalexander.co.nz/wp-content/uploads/2013/03/WO-March-21.pdf
New subscribers can be added to the emailing list here.
http://feedback.bnz.co.nz/mail/link/4p2yI6s7RtTn_JMznFtp-A
Lead Article
I cover three things in my lead article this week – why recession from the drought is a low probability scenario, why I gave $10 but not $50 to a stranger on the Marina Bay Promenade in Singapore, and why Singapore’s financial sector is strong and set to get a lot bigger.
NZ Housing Market
Following on from last week’s release of data showing NZ sales of dwellings to people offshore we examine a similar study from the United States which shows similar results.
Interest Rates
Drought pushes out further in time any tightening of monetary policy, but the strong December quarter GDP numbers challenge that a tad. Add it all up and factor in uncertainty and we are still left with the Reserve Bank not raising the official cash rate until sometime next year.
Offshore
Again not much this week – due to travel back from Singapore and loss of sleep from over-priced bad seats plus travel to Christchurch for functions including another visit to EPIC.
Exchange Rates
The very strong GDP numbers have pushed the NZD toward USD 82.5 cents and up against a Euro hit by worries about Cyprus and the banking sector in Europe once again. But all exchange rates remain within their recent ranges.
This
week I look at the drought and how it probably won’t
create a recession, how it was worth giving $10 to a bloke
in Singapore but not $50, some positive financial sector
growth signs for Singapore, and I reference a US survey
producing similar foreign house sales data as for my survey
of last week.
Welcome to the
March 21 Weekly Overview.
A full pdf copy of the Weekly Overview is loaded here.
http://tonyalexander.co.nz/wp-content/uploads/2013/03/WO-March-21.pdf
New subscribers can be added to the emailing list here.
http://feedback.bnz.co.nz/mail/link/4p2yI6s7RtTn_JMznFtp-A
Lead Article
I cover three things in my lead article this week – why recession from the drought is a low probability scenario, why I gave $10 but not $50 to a stranger on the Marina Bay Promenade in Singapore, and why Singapore’s financial sector is strong and set to get a lot bigger.
NZ Housing Market
Following on from last week’s release of data showing NZ sales of dwellings to people offshore we examine a similar study from the United States which shows similar results.
Interest Rates
Drought pushes out further in time any tightening of monetary policy, but the strong December quarter GDP numbers challenge that a tad. Add it all up and factor in uncertainty and we are still left with the Reserve Bank not raising the official cash rate until sometime next year.
Offshore
Again not much this week – due to travel back from Singapore and loss of sleep from over-priced bad seats plus travel to Christchurch for functions including another visit to EPIC.
Exchange Rates
The very strong GDP numbers have pushed the NZD toward USD 82.5 cents and up against a Euro hit by worries about Cyprus and the banking sector in Europe once again. But all exchange rates remain within their recent ranges.
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