1 00:00:03,840 --> 00:00:06,960 Speaker 1: It's Monday, the second of February twenty twenty six. Welcome 2 00:00:07,000 --> 00:00:09,440 Speaker 1: to the Fast five Business News by Fear and Greed, 3 00:00:09,440 --> 00:00:11,280 Speaker 1: where we give you the top five business stories you 4 00:00:11,320 --> 00:00:13,480 Speaker 1: need to know in just five minutes. I'm Michael Thompson 5 00:00:13,520 --> 00:00:14,800 Speaker 1: and good morning Sean Aylmer. 6 00:00:15,240 --> 00:00:17,000 Speaker 2: Good morning, Michael, Sean. 7 00:00:17,120 --> 00:00:20,079 Speaker 1: Five stories, five minutes. Let's go Story number one. House 8 00:00:20,120 --> 00:00:22,599 Speaker 1: prices have kicked off the year stronger than expected, with 9 00:00:22,720 --> 00:00:27,080 Speaker 1: totalities Home Value Index rising zero point eight percent in January, 10 00:00:27,400 --> 00:00:29,960 Speaker 1: higher than the previous month. It came as the first 11 00:00:29,960 --> 00:00:32,760 Speaker 1: big week of auction showed an improved preliminary clearance rate 12 00:00:32,800 --> 00:00:34,760 Speaker 1: for most capital cities behind. 13 00:00:34,400 --> 00:00:38,240 Speaker 2: The headline number, though there were clear disparities. The totality 14 00:00:38,240 --> 00:00:41,080 Speaker 2: figures show that Sidney and Melbourne weighed on that headline figure, 15 00:00:41,120 --> 00:00:43,639 Speaker 2: recording zero point two and zero point one percent increases, 16 00:00:43,680 --> 00:00:47,040 Speaker 2: respectively in January, better than December, mind you, because in 17 00:00:47,080 --> 00:00:50,280 Speaker 2: those cities prices went backwards. The mid sized capitals Brisbane, 18 00:00:50,320 --> 00:00:52,479 Speaker 2: Adelaide and Perth continue to run harder, though some of 19 00:00:52,520 --> 00:00:56,400 Speaker 2: the momentum is escaping those markets. Demand side factors are 20 00:00:56,440 --> 00:01:01,200 Speaker 2: becoming more relevant. Affordability, lower levels of immigration, a more 21 00:01:01,200 --> 00:01:04,480 Speaker 2: cautious credit environment, particularly since reserve banks set to lift 22 00:01:04,480 --> 00:01:08,280 Speaker 2: interest rates tomorrow, there are still tailwinds. According to Cotality, 23 00:01:08,319 --> 00:01:12,479 Speaker 2: supply levels remain constrained, incentives for first home buyers, rental 24 00:01:12,520 --> 00:01:15,000 Speaker 2: markets tight. Also, people have jobs and that tends to 25 00:01:15,000 --> 00:01:18,720 Speaker 2: help the housing market. Overall, the thirteen trillion dollar housing sector, 26 00:01:18,760 --> 00:01:22,000 Speaker 2: which is many people's primary financial asset, is heading into 27 00:01:22,040 --> 00:01:25,040 Speaker 2: this year in solid, if unspectacular feedal. 28 00:01:25,560 --> 00:01:27,759 Speaker 1: Yeah, the property market is back up and running after 29 00:01:27,800 --> 00:01:31,120 Speaker 1: the Australia Day Long weekend sewn and the preliminary clearance 30 00:01:31,200 --> 00:01:33,880 Speaker 1: rate came in at sixty nine point seven percent, which 31 00:01:33,920 --> 00:01:36,760 Speaker 1: is actually much higher than where it finished twenty twenty five. 32 00:01:37,080 --> 00:01:39,840 Speaker 2: So just peaked under seventy eight percent in September last year, 33 00:01:39,920 --> 00:01:42,560 Speaker 2: then it fell back to sixty three percent in December, 34 00:01:42,880 --> 00:01:45,400 Speaker 2: sixty nine point seven pretty good result. Fatality said the 35 00:01:45,440 --> 00:01:47,640 Speaker 2: pickup could be a sign of vendors adjusting their pricing 36 00:01:47,680 --> 00:01:52,920 Speaker 2: expectations I have of an expected rate increase across the capital's. 37 00:01:52,960 --> 00:01:55,520 Speaker 2: Melbourne lead in terms of volumes of market came in 38 00:01:55,560 --> 00:01:58,200 Speaker 2: at sixty nine point three percent, Sydney seventy one percent, 39 00:01:58,680 --> 00:02:01,400 Speaker 2: Brisbane seventy five, Adelaid eighty six you think it keep 40 00:02:01,400 --> 00:02:04,320 Speaker 2: getting better at Canberra ouch under forty percent. 41 00:02:04,600 --> 00:02:07,840 Speaker 1: Okay, moving on to story number two now Seawan. The 42 00:02:07,880 --> 00:02:12,360 Speaker 1: Reserve Bank Board convened today for two days, very lengthy 43 00:02:12,440 --> 00:02:15,639 Speaker 1: meeting that one and at two thirty tomorrow afternoon we'll 44 00:02:15,680 --> 00:02:17,880 Speaker 1: make the big announcement. Everyone's hanging out for it, whether 45 00:02:17,960 --> 00:02:20,799 Speaker 1: interest rates will stay on hold or whether they will rise. 46 00:02:20,880 --> 00:02:22,520 Speaker 1: And most economists are tipping a hike. 47 00:02:22,919 --> 00:02:24,760 Speaker 2: Yes, but it's not a laydown Masaire. But it would 48 00:02:24,760 --> 00:02:27,200 Speaker 2: be a surprise for they don't hike. The major bank economists, 49 00:02:27,200 --> 00:02:29,519 Speaker 2: for example, if they think they will, financial markets have 50 00:02:29,560 --> 00:02:31,800 Speaker 2: priced and a seventy five percent chance of it. The 51 00:02:31,840 --> 00:02:34,560 Speaker 2: Reserve Bank Board will be concerned about inflation staying above 52 00:02:34,560 --> 00:02:38,160 Speaker 2: its target band, also about employment growth staying strong. Only 53 00:02:38,200 --> 00:02:41,320 Speaker 2: two major developed nations Michael with an interest rate tightening bias, 54 00:02:41,639 --> 00:02:44,400 Speaker 2: Australia and Japan. There you go, as an aside. An 55 00:02:44,440 --> 00:02:46,360 Speaker 2: interesting point of contention at the moment is where the 56 00:02:46,360 --> 00:02:49,480 Speaker 2: Reserve Bank provides too much commentary on the economy Under 57 00:02:49,520 --> 00:02:52,200 Speaker 2: the new system. The RBA Governor Michelle Bullock gives a 58 00:02:52,280 --> 00:02:55,440 Speaker 2: press conference after each meeting. Some argue that leads to 59 00:02:55,560 --> 00:02:58,239 Speaker 2: confusion rather than clarity okay. 60 00:02:58,680 --> 00:03:01,520 Speaker 1: Story number three the plenty of action in global markets 61 00:03:01,520 --> 00:03:04,640 Speaker 1: over the weekend after US President Donald Trump announced Kevin 62 00:03:04,680 --> 00:03:07,760 Speaker 1: Walsh would replace Jerome Powell as head of the FED 63 00:03:07,919 --> 00:03:12,079 Speaker 1: in May. Markets reacted positively to the announcement, and that. 64 00:03:12,000 --> 00:03:14,480 Speaker 2: Wasn't because he's likely to cut interest rates. It's because 65 00:03:14,520 --> 00:03:17,880 Speaker 2: he's a half decent appointment, according to analysts, and while 66 00:03:17,919 --> 00:03:20,440 Speaker 2: more recently he's been on the Trump bandwagon in terms 67 00:03:20,480 --> 00:03:22,480 Speaker 2: of the need to cut rates, at other times in 68 00:03:22,520 --> 00:03:25,840 Speaker 2: his career he's been pushing for higher rates. His appointment 69 00:03:25,880 --> 00:03:29,320 Speaker 2: triggered some incredible moves in currency and commodity markets. It's 70 00:03:29,320 --> 00:03:31,360 Speaker 2: the price of goal, which last week pushed through fifty 71 00:03:31,400 --> 00:03:36,040 Speaker 2: six hundred US dollars an ounces fell ten percent. That's huge. 72 00:03:36,160 --> 00:03:39,560 Speaker 2: The price of silver, quadrupled over the past year, dropped 73 00:03:39,640 --> 00:03:43,800 Speaker 2: nearly thirty percent. It's because the incoming FED governor is 74 00:03:43,920 --> 00:03:47,080 Speaker 2: less likely to do something crazy that would trigger inflation. 75 00:03:47,560 --> 00:03:50,000 Speaker 2: Therefore there might not be as much need for gold 76 00:03:50,080 --> 00:03:53,120 Speaker 2: and silver. The US dollar also appreciated, pushing gasid back 77 00:03:53,160 --> 00:03:56,000 Speaker 2: to sixty nine point five US cents, and bitcoin was hammered, 78 00:03:56,280 --> 00:03:58,800 Speaker 2: hitting seventy seven thousand US dollars a Unit. 79 00:03:59,360 --> 00:04:02,840 Speaker 1: Story number for Shawn Susan Lee, the leader of the 80 00:04:02,840 --> 00:04:05,000 Speaker 1: Federal Liberal Party David Little Proud, the leader of the 81 00:04:05,000 --> 00:04:08,200 Speaker 1: Federal Nationals, are both facing possible leadership spills this week, 82 00:04:08,320 --> 00:04:11,480 Speaker 1: but the Coalition is now the third choice for voters 83 00:04:11,560 --> 00:04:14,680 Speaker 1: behind Labor and One Nation, and Pauline Hanson, of course, 84 00:04:14,680 --> 00:04:17,760 Speaker 1: the leader of One Nation, is now actually the most 85 00:04:17,760 --> 00:04:19,760 Speaker 1: popular politician in the country. 86 00:04:20,240 --> 00:04:22,919 Speaker 2: Less than twenty percent of voters support the coalition party's 87 00:04:22,920 --> 00:04:25,960 Speaker 2: twenty six percent support One Nation. According to the latest 88 00:04:26,000 --> 00:04:30,320 Speaker 2: the Australian Financial Review, Redbridge Group Accent Research poll, combined 89 00:04:30,320 --> 00:04:32,640 Speaker 2: support for the coalition parties have gone from twenty six 90 00:04:32,680 --> 00:04:36,040 Speaker 2: percent last month to nineteen percent or twenty six percent December. 91 00:04:36,080 --> 00:04:39,960 Speaker 2: Sorry to nineteen percent, which is thirteen points lower than 92 00:04:39,960 --> 00:04:43,920 Speaker 2: the primary vote at the last election. One Nation. It's 93 00:04:43,960 --> 00:04:46,400 Speaker 2: gone to twenty six percent was six percent at the 94 00:04:46,440 --> 00:04:49,880 Speaker 2: last election, so it's an incredible run. Labor remains statistically 95 00:04:49,960 --> 00:04:52,520 Speaker 2: even at thirty four percent, Greens fell two percentage points 96 00:04:52,520 --> 00:04:55,640 Speaker 2: to eleven percent. Truly amazing part of this though. In 97 00:04:55,760 --> 00:04:59,680 Speaker 2: terms of favorability ratings, Hanson is at thirty eight percent, 98 00:05:00,040 --> 00:05:03,200 Speaker 2: Albanezi at thirty four percent and Lee at ten percent. 99 00:05:03,880 --> 00:05:06,719 Speaker 1: Okay, last one sean story number five. The latest trove 100 00:05:06,920 --> 00:05:10,760 Speaker 1: of Epstein correspondence released over the weekend, highlight the relationship 101 00:05:10,800 --> 00:05:14,120 Speaker 1: between the sex offender and high profile political and business leaders. 102 00:05:14,279 --> 00:05:17,040 Speaker 1: Now they throw little new light, you would say about 103 00:05:17,279 --> 00:05:18,920 Speaker 1: his relationship with Donald Trump. 104 00:05:19,400 --> 00:05:22,039 Speaker 2: Emails from an accountant appeared to belong to Jeffrey Epstein 105 00:05:22,120 --> 00:05:25,640 Speaker 2: claim Microsoft co founder Bill Gates tied to hide a 106 00:05:25,800 --> 00:05:29,400 Speaker 2: sexually transmitted disease from his wife Melinda after having sex 107 00:05:29,400 --> 00:05:32,400 Speaker 2: with Russian girls. That's according to the ft A spokesperson 108 00:05:32,440 --> 00:05:35,400 Speaker 2: for Gates, and the claims were absolutely assert and completely false. 109 00:05:35,680 --> 00:05:38,159 Speaker 2: There are a lot of claims in these emails, but 110 00:05:38,360 --> 00:05:40,680 Speaker 2: they haven't been tried. We must keep that in mind. 111 00:05:40,920 --> 00:05:43,760 Speaker 2: The file show Epstein's connections with powerful figures including former 112 00:05:43,880 --> 00:05:47,680 Speaker 2: US President Bill Clinton, billionaire TESLA owner Elon Musk, and Gates. 113 00:05:47,680 --> 00:05:50,960 Speaker 2: There are more emails and picks involving Andrew mount Batton Winsor, 114 00:05:51,000 --> 00:05:54,359 Speaker 2: several where he was leaning over an unidentified female. Emails 115 00:05:54,360 --> 00:05:57,840 Speaker 2: also indicated Epstein had financially supported mount Baton Winsor's former wife, 116 00:05:57,880 --> 00:05:59,760 Speaker 2: Sarah Ferguson for several years. 117 00:06:00,240 --> 00:06:02,400 Speaker 1: Okay, there we go. The top five business stories in 118 00:06:02,440 --> 00:06:03,799 Speaker 1: five minutes. Thank you very much, Sean. 119 00:06:04,080 --> 00:06:04,719 Speaker 2: Thanks Michael. 120 00:06:04,960 --> 00:06:07,839 Speaker 1: It is Monday, the second of February twenty twenty six. 121 00:06:07,880 --> 00:06:10,080 Speaker 1: Remember to hit follow on the podcast. End of five 122 00:06:10,120 --> 00:06:12,279 Speaker 1: minutes isn't enough. You're going to find our longer daily 123 00:06:12,320 --> 00:06:15,240 Speaker 1: show called Fear and Greed wherever you listen to podcasts. 124 00:06:15,320 --> 00:06:17,720 Speaker 1: I'm Michael Thompson and now as the Fast five Business 125 00:06:17,760 --> 00:06:19,680 Speaker 1: News by Fear and Greed. Have a great day.