10 things you need to know this morning in Australia

It could be worse. Picture: Universal Pictures

Good morning.

1. Sydney property prices aren’t likely to cool – perhaps ever. Sorry to bring your day down, but the SVP of recruitment site Indeed, Paul D’Arcy gave us this great – or depressing – reason why Sydney real estate is so hot right now. It’s fourth on the list of world’s most desirable destinations abroad to work in, for starters. And now, with the changing face of the jobs markets, technology means the work is now following the workers, rather than vice versa. And the workers are all herding towards the best places to live…

2. So when Joe Hockey says something he really shouldn’t, like “The starting point for a first home buyer is to get a good job that pays good money”, the sad reality is, if that first home buyer wants to live in Sydney, Joe’s right. It isn’t unaffordable – for the best workers looking for the best place to live.

3. Australian stocks are on a losing streak and Glenn Stevens could make it worse today by not indicating rates will drop further. The RBA governor has a speech to give in Brisbane at 12.50pm and if the market doesn’t like it, a decline today would be its seventh consecutive fall. And that will be the longest losing streak since July 2010.

4. In Asia yesterday, Shanghai was down a little and there could be some disappointment today in that MSCI announced it will be including China A shares in its index, but just not yet, due to unresolved issues including market access. That sets up a very interesting day’s trade with a probable bearish bias given moves globally on stocks and the fact that market’s stellar rise has it in nosebleed territory. US Trust’s John Quinlan reckons it’s time to take some cash off the table in Chinese stocks.

5. Here’s a gem from the archives from way back when global politics was sexy dangerous. It’s Fidel Castro, wearing two Rolexes, lighting a cigar while visiting the USSR for the first time:

6. Apple Music launches soon, bringing iTunes users up to pace with streaming fans. It’s bound to be a tough first month as they realise they’re downloading an iTunes collection that could be worth thousands for $10. But wait, there’s more – Steve Kovach got to test drive the new service and here’s his complete users’ guide to Apple Music.

7. Everyone loves a PR-advised edit and Apple had a great one at yesterday’s iOS 9 reveal. CEO Tim Cook wanted to tell the story of how all the Cleveland Indians baseball team are Apple fans. When their first baseman Brandon Moss hit a home run into his own bullpen, his teammates stole it and gave Moss a ransom note of demands to meet if he wanted it back. Relief pitcher “Zep” asked for a “50 gallon drum of lube”. It didn’t make the cut:

8. Australia’s wasters are happy to admit they’re driving stoned. A National Cannabis Prevention and Information Centre (NCPIC) internet poll of more than 4,600 people shows that of those who have recently used cannabis almost 70% have driven while still under the influence. If you’re one of them, you’re probably thinking you’re okay because you’re driving slower and more carefully, right? Senior researcher Peter Gates says wrong:

We know cannabis use compromises reaction time, decision-making, time and distance perception, short-term memory, hand-eye coordination, and concentration while driving.

9. McDonald’s and Pizza Hut are losing money and it’s all because of millennials lying about what they want to eat. Fast food chains loaded up their menus with premium goodness, but the reality is, millennials sneak off and still buy the cheap stuff when their judgmental mates aren’t looking. Here’s why that’s a problem and here’s 10 things they could be eating which are cheap and make them smarter.

10. Powerful people aren’t like normal people and that’s a problem, because sometimes getting ahead means getting powerful people to like you. According to Columbia University professor Heidi Grant Halvorson, the key to that is “proving your instrumentality”. Here’s what “instrumentality” is.

BONUS ITEM: What’s it like to be the first person to climb the 135-metre curve of Wembley Stadium? Stomach-churning. But watch it anyway.

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