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Macro

Understand the fast-changing domestic and global economic forces under the tectonic plates driving our markets.

Macro

The RBA marks down the neutral cash rate again

RBA staff have revised down the estimated neutral rate cash rate to c2¾%, although it is not clear if policy-makers take it at face value.
Kieran Davies
Coolabah Capital
Macro

It's very clear who Aussie equity investors should be supporting in State of Origin

And the world should watch out if Queensland wins the 2025 series
Anthony Doyle
Pinnacle Investment Management
Macro

Why bitcoin isn't the future of money, and you won't escape CGT on sales

Bitcoin won't work as money, although tokenising assets like stocks and shares may be the future of money. Here's why.
Tom Richardson
Livewire Markets
Macro

A deeper easing cycle than suspected by most

Despite attempts by central banks to improve communication, the reality is they continue to communicate in riddles. However, every once and while a central bank...
Tim Toohey
Yarra Capital Management
Macro

Beyond tariffs

Despite concessions, the trade war still entails a very large shock for the US economy.
Chris Iggo
AXA Investment Managers
Macro

Why Trump's Big Beautiful Budget Bill could light another fire under bitcoin, gold

A signature piece of tax and spending legislation is passing through Congress with potentially huge implications for asset prices.
Tom Richardson
Livewire Markets
Macro

This time is different: Learnings from a shifting global regime

An update on our learnings post-U.S. election tax debates, ‘Liberation Day’, and travels both abroad and at home in early May.
Henry McVey
KKR Australia
Macro

The drivers of higher US bond yields

Higher US bond yields reflect a higher expected future real short rate, the return of a real term premium & higher expected inflation.
Kieran Davies
Coolabah Capital
Macro

Bulls vs bears: Which sectors are investors backing and bailing on?

Tech remains the darling, while interest rate-sensitive sectors have turned more bullish as RBA rate cuts come through.
Anna Dadic
Livewire Markets
Macro

Australia’s central bank finally confronts reality

RBA cuts interest rates again by 0.25% to 3.85% in May 2025
Bob Cunneen
MLC Asset Management
Macro

Betashares economist says RBA could slash rates to 2% if US enters recession

David Bassanese says his base case is the RBA takes rates to 3.35% this year, while other economists warned the cut is a mistake.
Tom Richardson
Livewire Markets
Macro

Tariff Turmoil

A topic front of mind for every investor at the moment is the potential impact of tariffs on the global economy. The Trump administration in the US has imposed tariffs...
Jonathan Kearns
Challenger
Macro

Fewer births, tighter borders. Who will drive the next phase of growth?

With birth rates falling and immigration facing political pushback, what does that mean for future economic growth and equity markets?
Alex Cathcart
Drummond Capital Partners
Macro

The case for optimism: Inside our macro pivot this month

Trump’s pivot on fiscal and trade policy has changed our macro view. We no longer expect a recession - here’s why we’ve turned bullish.
Xinyu Ru
Fawkes Capital Management
Macro

President Trump’s policies and the equity risk premium – the good, the bad and the ugly

Shares have rebounded on Trump’s tariff retreat, but his erratic policy shifts could weigh on long-term return expectations.
Shane Oliver
AMP
Macro

Tariffs, policy, and valuations

Given US equities’ recent performance investors will be assessing what conditions are necessary to re-enter the market.
Chris Iggo
AXA Investment Managers
Macro

US CPI is good news, but old news

The April CPI report was lower than expected, bringing the annual headline increase to 2.3%, the smallest year-over-year gain since February 2021. Core inflation was...
Seema Shah
Principal Asset Management
Macro

Trump announces 90-day trade truce on China

The U.S. and China have announced that they will temporarily lower tariffs on each other's exports, with the U.S. reducing its tariffs on China from 145% to 30%...
Seema Shah
Principal Asset Management
Macro

Shares recover 'liberation losses' - the week ahead

The stock market roller-coaster has continued with the S&P 500 notching up nine consecutive daily gains and the FTSE 100 up 15 days on the trot. The latest rally means...
Tom Stevenson
Fidelity International
Macro

Tariffs, turbulence, and the new global order

The 2025 trade shock redrew economic lines. With alliances shifting, what does it mean for investors in a fractured world?
Tim Davies
Carrara Capital
Macro

FOMC holds rates as they wait for more clarity

As expected, the Federal Open Market Committee decided to keep its benchmark policy rate unchanged at 4.25%–4.50% at its May meeting. The Fed continues to see the U.S....
Seema Shah
Principal Asset Management
Macro

Are US Treasuries no longer a safe haven?

In all the chaos of the past few weeks in the world of financial markets, the most alarming development has been the rise in US bond yields, even while stock markets...
Janu Chan
Bitesized Economics
Macro

Lies, lies and GDP statistics

Get long...
Callum Newman
Fat Tail Investment Research
Macro

Trump vs The Fed - What's next?

President Donald Trump’s longstanding criticism of Federal Reserve (Fed) Chairman Jerome Powell—ironically, someone Trump himself appointed during his first...
Seema Shah
Principal Asset Management
Macro

Solid momentum in US Jobs report play before the tariff hit

The April jobs report showed a solid 177,000-worker boost in payrolls, above consensus expectations, suggesting the impact of trade war-related uncertainty has yet to...
Seema Shah
Principal Asset Management
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