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Markets dominates by federal election, hawkish RBA move



Another wild ride for US sharemarkets last week, down over 6 per cent at one point, before a rally on Friday helped trim losses to a more respectable 2.4 per cent.

The month of May has lived up to its reputation as a volatile one for the ASX200, which closed the week 1.8 per cent lower at 7075 after being down 3.75 per cent at one point.

Here are the top five things to watch in markets this week:

1. RBA meeting minutes

The RBA’s May meeting minutes are expected to be hawkish, reinforcing expectations for another rate hike at its next board meeting in early June.

2. AU labour force survey

The market is looking for 20,000 increase in employment.

The participation rate is expected to stay at 66.4 per cent, and the unemployment rate is expected to fall from 4 per cent to 3.9 per cent.

3. First-quarter 2022 US earnings season continues

US earnings season continues with some of the country’s largest retailers set to report, including Walmart, Home Depot, Target and Lowes.

Shoppers flocked to Target during the pandemic, resulting in an acceleration in sales and earnings growth.

Adjusted EPS is expected to fall 16.2 per cent from last year to $3.09 as it comes up against tough figures from the year before.

Overall revenue is forecast to rise 2.2 per cent year on year to $24.4 billion.

4. Can Bitcoin continue to bounce back?

Bitcoin fell by 25 per cent last week to nearly $25,000 after the third-largest stable coin, Terra, de-pegged from the US dollar.

Bitcoin has since rebounded above $30,000, leaving signs of capitulation at last week’s low.

Capitulation is often seen in markets ahead of rebounds.

5. Federal election

The Australian election is just five days away.

Both polling and betting markets have the ALP well ahead.

Although these aren’t necessarily foolproof, and unlike the 2019 election, the economic policies of the major parties are similar, which means the impact on markets should be limited in the event of an ALP win.

If neither party wins enough seats to form government in their own right, then both parties will seek the help of independents to form government.

In return for their support, independents may insist on policies that are less market friendly.

Brought to you by City Index. Access to over 4500 global markets on shares CFDs, Indices, Forex & Crypto with a trusted provider.

All trading carries risk. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.





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Weighing up the counter-offer | The New Daily



Counter-offers are flying in today’s abundant job market. With so many positions unfilled – 423,500, according to the Australian Bureau of Statistics – the war for talent is firing up.

Traditionally counter-offers have focused on increased salaries and financial incentives such as bonuses. But since the pandemic, workers are increasingly looking for offers to satisfy work-life balance priorities.

“It’s not all about money,” said Lezly D’Limi from recruitment firm talentko.

Lezly D'Limi
Today’s counter-offers are about more than money – Lezly D’Limi.

“Money helps, but a lot of people at the moment will want work from home options and in some circumstances some people may want to work a four-day week rather than getting a pay rise.

“Employers have to think of those types of offers as well. Not everyone can afford to put $10,000 or $20,000 on people’s salaries, but they can manage people working less and getting paid the same because a lot of people are looking at lifestyle.”

Job vacancies rose by 6.9 per cent between November last year and February this year. It’s given job-seekers a distinct advantage in the job market and has put employers on the back foot.

Organisations are desperately trying to guard against talent losses and avoid the costly process of hiring and training new staff, said Shane Rodgers, chief operating officer of the Australian Industry Group.

“At the moment there is a clear skills and labour shortage and people are more keen than ever to keep good people,” he said.

“There are practical considerations – a lot of skills are hard to find in the economy at the moment, but it’s also costly to train people and it probably takes companies three months to bring people up to speed in a new organisation.”

When tailored to an employee’s specific needs and wants, counter-offers can be effective ways to retain workers. But they are less likely to work when an employee has made a considered decision to leave, Rodgers warns.

“Sometimes people have applied for a job and got a job, and that is usually part of a conscious career plan,” he said.

Shane Rodgers
Counter-offers from current employers are more effective when workers have been headhunted – Shane Rodgers.

“Sometimes people have been approached out of the blue and offered a job. If it’s part of a career plan where people have already applied for a job, committed to a job and maybe even signed a contract, counter-offers are probably less likely to be successful.

“They are more likely to be successful in cases where people have been approached out of the blue with a job offer and have to think quickly about whether it fits with their career plan, is it the right fit, is it the right culture.”

To anyone when weighing up the pros and cons of competing job offers, D’Limi and Rodgers have the following advice:

  • Don’t rush your decision. Take the time to understand the conditions being offered and seek clarification on anything that doesn’t seem clear.
  • Money may motivate you, but will you be happy working there? Consider the time you need to spend with family or pursue passions. Work-life balance is important and organisations understand this.
  • Cultural fit. Aligning your values with a new employer is crucial. Working for an organisation you don’t believe in spells unhappiness for both parties.
  • Be clear about your expectations and voice these to prospective employers. If their offers don’t match your preferred working conditions, be direct and ask them what can be done.
  • Don’t be persuaded by flattery. Being headhunted is an ego boost, but it may mean you change jobs for the wrong reasons. Thoroughly check the conditions of the job offer against those in the position you already occupy.





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