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1/8/09 – Australia – REITS

REITs (Real Estate Investment Trusts) – massive write downs as was expected (due to GFC, property is to be revalued for each periodic reporting period). GPT writes off $2 billion. Becton another $85million on top of earlier $150 million.

1/8/09 – Australia – domestic housing

Domestic housing market has stabilised. TOp end is increasing. Sydney reserves for properties > $1 million are being beaten. Monthly price index (RP Data Rismark) rising since January.

31/7/09 – Australia – John Hewson comment

John Hewson (former Liberal Party leader):- “…the coming global bond market shake-out could be Stage 2 of the Global Financial Crisis, and that any recovery may prove unsustainable; there could even be a double-dip recession…” “… US budget deficit is already some 13% to 14% of GDP”…The bond market is being undermined. (AFR 31/7/09)

31/7/09 – Japan – manufacturing

Manufacturers have lifted production for the 4th month. (AFR 31/7/09)

31/7/09 – US – Beige Book

The US “Beige Book” (a compilation of anecdotal information from business across America) suggest the worst might be over (AFR 31/7/09).

31/7/09 – German ecomony

…might have bottomed; consumer prices down (first annual decline in 22 years); but unemployment is up.