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Speaker 1: Welcome to Fear and Greed business news you can use today.

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Speaker 1: The local share market rebounds from Monday's plunge, but remains

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Speaker 1: at the whim of Donald Trump's commentary. Australia sends hardware

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Speaker 1: and personnel to the Middle East, and the value of

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Speaker 1: housing across the country passes twelve twillion dollars for the

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Speaker 1: first time. Plus David Little Proud resigns as leader of

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Speaker 1: the Federal Nationals and Ozzie is heading to Europe. Take

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Speaker 1: the long way around. It's Wednesday, the eleventh of March

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Speaker 1: twenty twenty six. Oh Michael Thompson and good morning, Sean Aylmer.

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Speaker 1: Good morning, Michael, Sean. The main story this morning, the

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Speaker 1: local share market rebounded from its selloff earlier in the week,

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Speaker 1: with the s and PASX two hundred closing up more

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Speaker 1: than one percent to eighty six hundred and ninety two points.

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Speaker 1: It means about thirty four billion dollars of the ninety

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Speaker 1: billion dollars in value wiped out on Monday has now returned.

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Speaker 2: It was going to be a bit more exciting, but

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Speaker 2: you know, the last hour yesterday the market fell back again,

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Speaker 2: so it didn't rise quite I mean, it was up

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Speaker 2: much higher for most of the day. It came after

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Speaker 2: US President Donald Trump suggested the war against Iran could

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Speaker 2: end soon. Now that's in oil prices back below ninety

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Speaker 2: US dollars of barrel. Basically, Trump said military operations were

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Speaker 2: very far ahead of the initial four to five week

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Speaker 2: time frame. And the problem it's very hard to know

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Speaker 2: whether or not that's true. Basically, markets at the moment

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Speaker 2: are being driven by whatever headline is loudest, and Donald

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Speaker 2: Trump tends to provide the noisiest headlines of the lot.

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Speaker 2: After saying the conflict could be over soon, he went

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Speaker 2: on social media. I quote him, if Iran does anything

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Speaker 2: that stops the flow of oil within the Strait of Hamuz,

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Speaker 2: they will be hit by the United States of America

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Speaker 2: twenty times harder then they've been hit thus far. End quote.

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Speaker 2: So when an investor reads that, it doesn't sound like

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Speaker 2: the market that the war's going to be over anytime soon,

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Speaker 2: and the market loses ground again, how do you.

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Speaker 1: Deal with that kind of volatility right as a as

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Speaker 1: an investor, because this is surely this is almost unprecedented

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Speaker 1: in terms of the volatility on the at the whim

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Speaker 1: of a political leader like this, we haven't seen anyone

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Speaker 1: quite as volatile as Donald Trump, have we?

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Speaker 2: No, In some ways, he's sort of regular in his volatility.

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Speaker 2: He's inconsistent, that's the thing. So yesterday he said very

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Speaker 2: far ahead, almost over this war, and then the next

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Speaker 2: thing he says, We're going to hit you twenty times harder.

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Speaker 2: And it's really hard for an investor to look through

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Speaker 2: the noise. I mean, Shane Oliver on our show yesterday

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Speaker 2: morning talked about, you know, you got to look through

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Speaker 2: the noise, but wow, it's pretty hard to look through

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Speaker 2: the noise at the moment, given what's going on. It

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Speaker 2: is really difficult for investors.

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Speaker 1: Yeah, so yesterday what led the local market high. It

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Speaker 1: looks like the text stocks have done pretty well.

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Speaker 2: Yeah, I mean they remain will blow when they started

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Speaker 2: the year, But companies like Life, three sixty, Technology one, Wisteck, Globe,

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Speaker 2: well rallied yesterday. The big miners also bounced, Batch Peoples

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Speaker 2: up more than two percent. Some of the lithium plays

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Speaker 2: did pretty well. Mini Resources Pls goals. Mike I's sort

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Speaker 2: of given up on understanding goal, to be honest, I mean,

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Speaker 2: they've been the ticket has been sold off in this

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Speaker 2: time of uncertainty, which in itself is an unusual thing

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Speaker 2: to say. Normally gold miners do well in times of uncertainty.

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Speaker 2: Then goal price is stabilized around fifty one to fifty

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Speaker 2: US dolls announced yesterday having fallen from their peaks.

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Speaker 1: So what did investors do?

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Speaker 2: They bought gold companies, of course they did. Northern Star

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Speaker 2: and Newmont both did well. Energy stocks which surged on Monday,

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Speaker 2: they've got they got a bit of a reality checked

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Speaker 2: yesterday's a Woodside, Santos, Korean Energy all lower. But you know,

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Speaker 2: I think most people are long term investors, well, hopefully

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Speaker 2: most people are long term investors. They're diversified, they are

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Speaker 2: in it for the long haul. So hopefully these moves

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Speaker 2: don't do too much damage.

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Speaker 1: Can you imagine, And we just talked about how hard

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Speaker 1: it is for investors, can you imagine being a business

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Speaker 1: or economic student at the moment. At the moment as well,

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Speaker 1: we have.

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Speaker 2: A lot of comics journalists for that matter.

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Speaker 1: Yeah, indeed, we have a lot of students listening to

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Speaker 1: us because we hear from them that they that they

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Speaker 1: listened to get a bit of an understanding on what's

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Speaker 1: going on. But having to deal with things that are

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Speaker 1: that have kind of almost behaving behaving counterintuitively, it's a

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Speaker 1: a real crash course in the economy.

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Speaker 2: It is actually a fun time to be looking at

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Speaker 2: the economy in market Stone because there is so much

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Speaker 2: volatility and uncertainty. It's kind of cool.

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Speaker 1: I reckon, yeah, oh, you're probably right there. Now Australia

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Speaker 1: Sean is getting more involved in the conflict in the

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Speaker 1: Middle East. We had US President Donald Trump on the

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Speaker 1: phone to Prime Minister Anthony Albernezi early yesterday morning about

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Speaker 1: members of the Iranian women's soccer team seeking asylum. We're

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Speaker 1: also going to deploy more resources to the region. We

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Speaker 1: actually found out quite a bit yesterday. Since the fourth

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Speaker 1: of March, more than twenty six hundred Australians have returned

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Speaker 1: on eighteen flights from the region. Energy Minister Chris Bowen

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Speaker 1: said that Australia's fuel security situation was good, that is

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Speaker 1: a quote good, and that the National Oil Supplies Emergency

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Speaker 1: Committee had met three times in the last week. I

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Speaker 1: bet they did.

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Speaker 2: I bet they did. Of course, Australia granted visas to

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Speaker 2: five members of their Iranian women's soccer team who were

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Speaker 2: in the country for a tournament that was pretty much settled,

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Speaker 2: of course, before Trump woke up Albanzi in the middle

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Speaker 2: of the night to tell him to do it. Defense

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Speaker 2: Minister Richard Miles said Australia has deployed aircraft and missiles

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Speaker 2: to the Middle East, a decision supported by the opposition

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Speaker 2: in e seven A wedge Tail. Don't you love that

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Speaker 2: A wedge tile surveillance aircraft is being deployed to the UAE,

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Speaker 2: along with around eighty five Defense Force personnel. We sent

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Speaker 2: a wedge Tail to Ukraine last year. It flew forty

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Speaker 2: five missions in three months, so clearly very useful. We're

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Speaker 2: also providing advanced to medium range air to air missiles

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Speaker 2: in that region.

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Speaker 1: Okay, plenty is still to come Sean. We'll be back

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Speaker 1: in a moment with the rest of the day's business news. Sean.

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Speaker 1: Consumer sentiment rose slightly last month, although there does remain

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Speaker 1: more pessimists than optimists according to the Westpac Melbourne Institute Reading. However,

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Speaker 1: the A and Z Roy Morgan poll says confidence nosedived

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Speaker 1: in response to the war in the Middle East.

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Speaker 2: So according to the Westpac Melbourne Institute Reading, we've been

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Speaker 2: pessimistic since twenty twenty two. A sentiment has turned weaker

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Speaker 2: more recently. Confidenced readings measures in recent days were weaker

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Speaker 2: than a few weeks back. That was supported by the

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Speaker 2: A and z Roy Morgan idea that people certainly that

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Speaker 2: the war has not helped confidence. The prospect of higher

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Speaker 2: interest rates they're not helping either.

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Speaker 1: Now.

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Speaker 2: The good news is that people reported that current family

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Speaker 2: finances are holding up reasonably well. The A and zed

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Speaker 2: Roy Morgan surveys showed that respondents inflation expectations have lifted,

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Speaker 2: as in they think prices are going to be rising.

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Speaker 2: That can actually very quickly become a self fulfilling prophecy,

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Speaker 2: which is something to Reserve Bank Governor Michelle Bullock has

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Speaker 2: been very concerned about because as soon as it becomes

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Speaker 2: self fulfilling, people think it's going to happen, it does happen.

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Speaker 2: Suddenly you've got inflation. So that's something the Reserve Bank

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Speaker 2: will want to stamp on.

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Speaker 1: Okay, that's consumers. Business sentiment and conditions both declined last

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Speaker 1: month according to the National Australia Bank Survey.

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Speaker 2: So business confidence is now a negative territory for the

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Speaker 2: first time in almost a year. Retailers, transport and utilities

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Speaker 2: groups dragged the index lower. Now survey suggested final product

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Speaker 2: prices were stable. That's actually good news. That's certainly on

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Speaker 2: the inflation front. The NAP survey has something called the

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Speaker 2: capacity utilization measure, which is kind of like from a

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Speaker 2: nineteen seventies sci fi show. Capacity utilization measure very important

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Speaker 2: though the Reserve Bank likes it. Came in an eighty

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Speaker 2: two eight percent unchanged but actually quite high. Just means

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Speaker 2: there ain't much spare capacity in the economy.

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Speaker 1: Doc, well done. I love you your old school sci

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Speaker 1: fi references. Sean to the Future, Michael, See it's a

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Speaker 1: back to the future was what nineteen eighty.

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Speaker 2: Yeah, I don't know.

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Speaker 1: Seven See, I should look this up before I start

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Speaker 1: talking about it. It is one of the all time

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Speaker 1: classic films and it's one of the rare trilogies where

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Speaker 1: I think it actually almost got better as it went. Yeah,

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Speaker 1: back to the Future three fantastic loved Beff, Yes, Biff Tannon,

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Speaker 1: Well done, great reference anyway. With the total value of

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Speaker 1: Australian dwellings has pushed past twelve trillion dollars for the

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Speaker 1: first time. That compares to about four and a half

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Speaker 1: trillion dollars for the superannuation sector, making housing clearly the

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Speaker 1: most valuable asset class.

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Speaker 2: The value of housing in Australia jumped nearly four hundred

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Speaker 2: million dollars last December quarter to take the total to

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Speaker 2: twelve point three trillion dollars. There's been thirteen uninterrupted quarters

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Speaker 2: of growth since September twenty twenty two, according to the

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Speaker 2: Australian Bureau of Statistics. The figures show that dwellings in

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Speaker 2: Western Australia, Queensland and South Australia rose most last quarter.

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Speaker 2: No surprises there. Western Australia now is a median value

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Speaker 2: of just over one million dollars. New South Wales already

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Speaker 2: passed that, Queensland's past that now WA's passed that. Meanwhile,

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Speaker 2: superannuation balances continue to grow. In February, the medium balanced

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Speaker 2: option was up one point one percent according to super Ratings.

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Speaker 2: So far this fiscal year, the median balanced fund is

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Speaker 2: up six point three percent.

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Speaker 1: Turning it to politics, Sean David little Proud has resigned

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Speaker 1: as Leader of the Nationals after almost four years in

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Speaker 1: the job and two splits in the Coalition in less

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Speaker 1: than a year. Yea saying perhaps unsurprisingly that he was

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Speaker 1: too exhausted to continue in the role.

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Speaker 2: Yes, I mean what a job he's had. Standing side

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Speaker 2: by side with his wife Amelia Dobson after question time yesterday,

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Speaker 2: a teary Little Proud said it was time for someone

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Speaker 2: else to lead. Let me quote him. I believe it

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Speaker 2: is time to transition to a new leader. I'm buggered.

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Speaker 2: I've had enough to lead this great party. Would be

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Speaker 2: the wrong thing for me to do. Where else in

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Speaker 2: the world do you have a national leader saying I'm buggered?

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Speaker 2: Do not know? Little Proud said had stay in Parliament

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Speaker 2: as a Member for queens for the Queensland seat of Marianoa,

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Speaker 2: which he first won in twenty sixteen. Both Anthony Albernezi

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Speaker 2: and Angus Taylor were generous in their praise of mister

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Speaker 2: Little Proud.

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Speaker 1: It's an unenviable job, isn't it Leading a party in opposition,

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Speaker 1: whether you are the Liberal Party the leader or the

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Speaker 1: National Party leader. It's a tough, tough thing to try

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Speaker 1: and do, and when they've had when you have the

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Speaker 1: added complication of trying to manage a coalition as part

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Speaker 1: of it, it would be a tough task.

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Speaker 2: And certainly Barnaby Joyce he replaced Barnaby Joyce. Barnaby Joyce

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Speaker 2: at least got a gig as Deputy Prime Minister of Australia. Yeah,

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Speaker 2: where as Davette I've never quite got that.

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Speaker 1: No no. Having said that, if Barnaby Joyce was still

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Speaker 1: in the Nationals and hadn't affected to one nation, he

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Speaker 1: would now have three former leaders still within the parties

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Speaker 1: sitting as Michael McCormack still there, David Little Proud, then

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Speaker 1: Barnaby Joyce. There's a lot of former leaders kicking around

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Speaker 1: in Canbera right now. Indeed, share in the conflict in

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Speaker 1: the Middle East is discouraging travelers from heading to Europe

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Speaker 1: via the West, but plenty of changed directions and are

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Speaker 1: now buying tickets that will actually take them through the US.

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Speaker 2: Yes, so. United Airlines chief executive Scott Kirby so the

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Speaker 2: number of customers from Australia and New Zealand traveling to

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Speaker 2: Europe through the US had jumped to more than one

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Speaker 2: thousand a day. Speaking on CNBC, he said Aquatum last

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Speaker 2: year we booked less than one a day, so from

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Speaker 2: one two thousand a day. Said demand for fights in

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Speaker 2: the world's biggest airline by fleet size had not taken

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Speaker 2: even a tiny step back since the missile strikes began

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Speaker 2: on February twenty eight. Quantas is another winner, given it

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Speaker 2: doesn't really fly via the Middle East unlike Virgin Australia.

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Speaker 2: They're also very strong demand for Singapore Airlines and KFE Pacific.

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Speaker 2: I actually checked our prices yesterday and if you can

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Speaker 2: get on a plane, it's not too bad. So the cheapest,

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Speaker 2: you know, US Skyscanner. Skyscanner is the best. The cheapest

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Speaker 2: flights from Melbourne or Sydney to London about twenty three

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Speaker 2: twenty four hundred dollars.

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Speaker 1: Economy and where are they where are they going through?

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Speaker 1: Is it through?

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Speaker 2: They're routed through Dubai, So whether these are the ones

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Speaker 2: going through the Middle East, just have the care you

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Speaker 2: be wary of potential for delays.

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Speaker 1: Yeah.

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Speaker 2: Yeah, So they're not super sans of business classes like

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Speaker 2: fifteen thousand, eighteen thousand of the cheapest on business class.

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Speaker 2: But economy is not too bad at this point.

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Speaker 1: Okay, turning to our international news now Sean China's exports

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Speaker 1: surged twenty one point eight percent year on year in

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Speaker 1: January and February, putting the world's second largest economy on

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Speaker 1: course for another year of record trade surpluses, just weeks

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Speaker 1: before Donald Trump and Jijinping are set to meet in Beijing.

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Speaker 1: Kind of forgotten about that, Yes.

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Speaker 2: I mean this is not the news. Donald Trump once

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Speaker 2: before he meets Shijingping. Export growth in China the first

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Speaker 2: two months of the year far exceeded expectations. Imports for

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Speaker 2: up nearly twenty percent January February. The Phibia has put

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Speaker 2: China's trade surplus for the two month first two months

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Speaker 2: of the year at a record two hundred and thirteen

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Speaker 2: point six billion dollars. Now what's it mean? So the

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Speaker 2: strong growth will heighten concerns among China's training partners that

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Speaker 2: a flood of low cost goods is putting their own

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Speaker 2: factories out of business. So China, with these sanctions on

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Speaker 2: them from the US, looking for other markets, flooding other

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Speaker 2: markets and not everyone's happy about that, economist said was

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Speaker 2: encouraging to see inputs rising rapidly too. According to the

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Speaker 2: FT China this earlier in the week actually put out

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Speaker 2: a growth forecast which was relatively low. So the fact

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Speaker 2: that imports are rising that means, you know, Chinese people

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Speaker 2: are buying stuff from overseas. That's good news. China's trading

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Speaker 2: practices are a particularly particular point of contention for Trump,

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Speaker 2: who's set to arrive in Beijing at the end of

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Speaker 2: the month. For all that meeting with g the president's

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Speaker 2: trade war basically has failed to put a dent in

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Speaker 2: China's surplus, which last year hit a record one point

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Speaker 2: two trillion dollars. If he keeps at this pace, it'll

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Speaker 2: be higher than that this year.

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Speaker 1: Wow. Okay. Up next is Fear and Greed Q and

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Speaker 1: A Today, Sean, your guest is Anuk Darling, who is

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Speaker 1: the CEO of Escape. This was an interview that we

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Speaker 1: recorded as part of our partnership with Salesforce. We went

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Speaker 1: along to the Age Force World Tour in Sydney and

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Speaker 1: spoke with a number of people and Nick Darling is

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Speaker 1: one of those that we spoke to, the CEO of Escape,

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Speaker 1: talking about how AI has changed her business.

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Speaker 2: Yeah, so she was at the conference a great enthusiast.

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Speaker 2: I think that's probably fair to say. And their business

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Speaker 2: have done has done really really well, in large part

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Speaker 2: through AI and basically making processes so much more efficient

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Speaker 2: than they ever were before. That's really the nub of it.

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Speaker 2: So it Escape very involved in student housing all sorts

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Speaker 2: of things like that, and you can imagine providing rentals

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Speaker 2: to students, just how complicated that might get. Well, Escape

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Speaker 2: has used AI to actually not solve that issue, but

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Speaker 2: certainly make inroads into efficiencies.

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Speaker 1: She tells the story very well for using AI. There's

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Speaker 1: a story about a chicken carcass that you just need

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Speaker 1: to listen. Listen to the interview. It's a good one.

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Speaker 1: Coming up next in the Fear and Greed playlist on

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Speaker 1: your podcast platform or at Fearangreed dot com dot au.

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Speaker 1: We sign up for our free daily newsletter as well.

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Speaker 1: Thank you Sean, Thank you Michael. It's Wednesday, the eleventh

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Speaker 1: of March twenty twenty six. Make sure you're following the

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Speaker 1: podcast and please join us online on LinkedIn, Instagram, ex

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Speaker 1: TikTok and Facebook. I'm Michael Thompson and that was Fear

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Speaker 1: and Greed. Have a great day.