This is not just our worst-ever correction. It is also the fastest

Detailed summary

Property prices are falling faster than ever but bond markets and bold contrarian buyers are already eyeing the turn.

If we zoom out from the dramatic day-to-day noise of the media cycle, arguably the most important news this week was the smoking-hot US inflation data.

It implies that over the three months to October, core inflation has accelerated to a stonking 3.8 per cent annualised pace, while the 12-month rate has lifted from 3.1 per cent to 3.3 per cent, way above the US Federal Reserve’s official 2 per cent target.

Opening of the article, excerpted from Australian Financial Review. To read the rest, open the article on the publisher's site.