1. Rate watch…
Nearly 100% of new mortgage loans are on variable rates in Australia. This compares to ~55% last year. And almost 60% of fixe rate mortgages will reset by the end of 2023.
Source: ABS, Macquarie Macro Strategy
Source: APRA, RBA, Macquarie Macro Strategy
2. Beer is back…
United Malt Group gave an update this week. Detailing how beer is in, and seltzers are apparently out. According to Nielson data, US beer sales were up 7.8% y/y in the 4 weeks to 5 November. And up over 13% versus the same period in 2019. While seltzer sales were down 8% y/y in the 4 weeks to 5 November. Drink responsibly.
Source: NielsenIQ, UBS analysis
3. It’s coming home…
Whether it’s onshoring, nearshoring or reshoring, companies are bringing employees back in droves.
Source: Bofa Global Research