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Macro

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

Expert Insights

Has China become "unavoidable" after being once labelled "uninvestable"?

JPMorgan's Gabriela Santos thinks so. But Catherine Yeung at Fidelity International goes one step further.
Hans Lee
Livewire Markets
Macro

Why you should still be optimistic on China’s re-opening

When China first began to back down from its zero covid policy, there was a lot of skepticism. Whether it was doubt about whether the country could handle the huge...
Janu Chan
Bitesized Economics
Macro

The beginning of the end

Increasingly it looks like the key turning points are behind us or in sight, whether we look at inflation, interest rates or property.
Craig Schloeffel
HMC Capital
Macro

Cash flow, excess savings & the risks to consumer spending

Consumer spending could hold up for longer than commonly thought if households change their saving behaviour.
Kieran Davies
Coolabah Capital
Macro

March Podcasts: It's Hard To Kill A Banking Crisis, Is A Banking Crisis Underway?, The Smashed Aussie Economy, Why India Is Not The Next China and A Sectoral Guide To Surviving The Business Cycle

Below is a summary of the topics we covered on Nucleus Investment Insights this month. See the links for more information.
Damien Klassen
Nucleus Wealth
Macro

Charts of the Week - The Powell spread, money market inflows and trouble in Sweden

This week’s charts begin with bearish trends
Macrobond Financial
Macrobond Financial
Macro

Three reasons why an RBA “pause” on interest rates is a bad idea

Is a policy rethink needed? We canvass the views of GSFM’s Stephen Miller and other market commentators
Glenn Freeman
Livewire Markets
Macro

Corporate and RMBS default waves arrive

Both Australian and US default data point to rising stress
Christopher Joye
Coolabah Capital
Macro

A fragile and volatile world

“Beware the Ides of March” Global share markets opened the new year with mild optimism that inflation and interest rate risks were becoming more manageable and...
Bob Cunneen
MLC Asset Management
Macro

ChatGPT's take on Australian inflation

Three charts to explain this month's CPI print with commentary written with the help of ChatGPT.
Macrobond Financial
Macrobond Financial
Macro

Will Deutsche Bank be the next domino to fall?

That is the question on investors’ minds following the plunge in Deutsche Bank’s share price and the record spike in credit default swaps late last week. Will Deutsche...
Adrian Chow
Realm Investment House
Macro

Options for budget repair for the new NSW government

Fiscal repair will be a priority for the new government given still-large deficits will propel already substantial debt even higher.
Kieran Davies
Coolabah Capital
Macro

Moral Hazard in the Tech Industry: The Case of Silicon Valley Bank

In this episode of Stocks Neat, co-portfolio manager Gareth Brown joins me, all the way from London, to delve into the Silicon Valley Bank bankruptcy and the broader...
Steve Johnson
Forager
Macro

Charts of the Week - The Fed balance sheet grows, AT1s turn risky, and the outlook for real estate

This week’s charts address the repercussions of banking crises on both sides of the Atlantic
Macrobond Financial
Macrobond Financial
Macro

This banking crisis is far from over

Tim details the likely implications for Australia and concludes that despite the coming headwinds, Australian banks will remain resilient.
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Tim Toohey
Yarra Capital Management
Macro

Lessons from the Credit Suisse wipe-out

Don't move down the capital structure unless you are comfortable with the company's underlying default risk...
Christopher Joye
Coolabah Capital
Macro

Regulators need to combat speculative attacks on systematically important banks like Deutsche Bank

High velocity digital deposits have opened-up big banks to attacks by speculative short-sellers trying to engineer a crisis of confidence
Christopher Joye
Coolabah Capital
Macro

Lessons from past financial crises for the RBA’s monetary policy

A central bank will prioritise financial stability over dealing with high inflation if the instability evolves into a financial crisis.
Kieran Davies
Coolabah Capital
Macro

The FED doesn’t blink

It still raised rates despite upheaval in the banking sector
Daniel Siluk
Kapstream
Macro

Where in the world of stocks and bonds T. Rowe Price is investing now

"Clearing fog" in global equities and a return of balance to credit assets boosts investment potential, say these two portfolio managers
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Glenn Freeman
Livewire Markets
Macro

The RBA strongly signals a pause in April

The RBA will consider pausing in raising rates at its April board meeting.
Kieran Davies
Coolabah Capital
Macro

Banking crisis: All you have to fear is fear itself

The banks having problems now are the ones that stuffed up their hedging. The ones that stuffed up their lending are still to come.
Damien Klassen
Nucleus Wealth
Macro

Brace, brace, brace

The commentariat until recently had shifted from hard to soft landing to no landing at all. All of a sudden, those lags in monetary policy don’t look so long and...
Andrew Canobi
Franklin Templeton
Macro

Charts of the Week - Inverted curves, the SVB effect, and pessimistic Britain

This week’s charts revisit the evolution of Fed funds futures as the US central bank heads into a potentially pivotal meeting
Macrobond Financial
Macrobond Financial
Macro

Cost-push or demand-pull inflation?

The RBA is fighting inflation with higher rates but how effective will it be without suitable fiscal policy support?
John Abernethy
Clime Asset Management
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