1. Stock prices hit the roof!

House prices are up 10% nationally in a year but stocks are up a whopping 24%. The end of the financial year yesterday showed the All Ords was up a huge 24%, but the AFR’s survey of fund managers says the share market will be lucky to be up 2% for rest of this year. Lockdowns, the delta variant, inflation and China were cited as potential problems for stocks prices. But remember, this is purely guesswork and I suspect that this 2% call is way too conservative.

2. Speed up vaccinations but beware!

Leading business groups want to offer flexible hours and access to paid or unpaid leave to speed up vaccinations. Four of our leading business associations agreed more vaccinations will protect our economic recovery from lockdowns and they think workers need incentives to get jabbed. Economically, it’s a good idea but if a boss encouraged an employee to be vaccinated and they had a clot, it could become an insurance problem and a brand challenge if the employee died.

3. Pay to work from home

Working from home has taken a new twist with a Japanese company charging employees who want to be home-based. Yesterday we learnt accounting firm Deloitte was to allow its employees to work ‘where and when’ they want, even after lockdown. But Japan’s Disco Chief has a different idea. The boss of the company explained his pay-to work at home levy on his employees this way: “Ordering some people to go in while others stay home is unfair. The company offers behavioural incentives and the choice is up to you.”

4. EU and UK agree to 'sausage war' truce

The European Union and the United Kingdom have agreed to a three-month truce in the post-Brexit 'sausage war' that would prevent some chilled meat products, including sausages, from being sold in Northern Ireland. "Northern Ireland is an integral part of the United Kingdom and its consumers should be able to enjoy products they have bought from Great Britain for years," said David Frost, the UK's Brexit minister.

5. Dow up as S&P 500 fifth consecutive high

The Dow Jones rose 210.22 points or 0.61% to 34,502.51 overnight, while the S&P 500 reached another record-high close of 4,297.50 after rising 5.70 points or 0.13% during the session. The Nasdaq was down 24.38 points or 0.17% to 14,503.95.