Morning team!

1. Australian property prices rose 2.1% in February, marking their strongest national growth in 17 years according to CoreLogic. It comes as every state and territory market rises simultaneously, on the back of record low interest rates and a ‘fear of missing out’. “The last time we saw a sustained period where every capital city and rest of state region was rising in value was mid-2009 through to early 2010, as post-GFC stimulus fuelled buyer demand,” head of research Tim Lawless said.

2. Surging prices are putting interest rates back on the agenda. Some economists participating in the Sydney Morning Herald/The Age survey believe the RBA, which meets today, may have to start lifting rates as early as next year to deal with exploding house prices. Reserve Bank boss Philip Lowe has repeatedly suggested that Australia’s low-interest rate environment will persist for some years yet.

3. But HSBC chief economist and 12-year RBA veteran Paul Bloxham told the AFR the RBA will view surging pries as evidence monetary policy is working. If the RBA wants the inflation target of between 2-3%, the thinking goes, it needs house prices to be rising.

4. Australia’s overall financial comfort rose to record levels in the six months leading to December, according to new research from ME Bank. Who is that driven by? You guessed it: Boomers. But other groups, including single parents and casual workers, continued to bear the brunt of the pandemic and industry downturns.

5. Meme stocks like GameStop and AMC are surging again, as day traders aimed to spark rallies. The stocks have fluctuated in recent sessions as bullish momentum locks horns with profit-taking. Day traders now lack the element of surprise, and regulators are investigating whether Reddit posts constituted manipulation.

6. Buy now, pay later giant Klarna has tripled its valuation to $31 billion, making it Europe’s most valuable private startup. Reuters had reported last week that the company, which competes with PayPal and Afterpay, was finalising another private funding round. Klarna is available in Australia, in partnership with the Commonwealth Bank, but to date has seen slower growth against its homegrown competitors.

7. Zoom reported better-than-expected Q4 revenue on Monday. The video-chat service reported revenue of $882.5 million versus estimates of $811.8 million. Zoom users have surged in the past year through the coronavirus pandemic, led by remote work and at-home learning.

8. Goldman Sachs has restarted its cryptocurrency trading desk amid a boom in bitcoin, Reuters first reported. The investment bank will deal bitcoin futures and non-deliverable forwards beginning next week. It is also reportedly exploring a bitcoin exchange-traded fund.

9. As people anticipate an end to the COVID-19 pandemic, some cruises are selling out well in advance. Monthlong trips from the US with Oceania Cruises and Seabourn for 2023 have sold out. Couples are paying up to $US500,000 ($645,900) for a five-month cruise, and the company had to recently open waiting lists, Bloomberg reported.

10. Twitter will begin banning users who repeatedly post COVID-19 vaccine misinformation. The social media site will also label posts that contain false information about COVID-19 vaccines. “As health authorities deepen their understanding of COVID-19 and vaccination programs around the world, we will continue to amplify the most current, up-to-date, and authoritative information,” the company said in a release.

BONUS ITEM

Great thread on the government’s Online Safety Act, if you’re interested.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.