From the Westpac Bulletin:
Housing credit has lost momentum under the weight of past tight monetary policy and with the sector facing a number of headwinds.
Housing credit grew by just 0.30% in the month of June. This is the weakest monthly result on record (back to 1976), with the exception of a one-off fall of -0.38% for June 1984. Annual housing credit growth has now slowed to 5.1%, moderating from 6.0% a year ago.
Colin Twiggs is a former investment banker with almost 40 years of experience in financial markets. He co-founded Incredible Charts and writes the popular Trading Diary and Patient Investor newsletters.
Using a top-down approach, Colin identifies key macro trends in the global economy before evaluating selected opportunities using a combination of fundamental and technical analysis.
Focusing on interest rates and financial market liquidity as primary drivers of the economic cycle, he warned of the 2008/2009 and 2020 bear markets well ahead of actual events.
He founded PVT Capital (AFSL No. 546090) in May 2023, which offers investment strategy and advice to wholesale clients.