Home Wires

Macro

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

Reporting Season

Inflation: Are you sceptical?

Anyone feeling sceptical about inflation would be wise to tune in to the final week of the August reporting season. If the first three weeks is any guide, inflation...
Dion Hershan
Yarra Capital Management
Macro

A pain in the bottleneck for supply chains

There are tentative signs that substantial supply chain bottlenecks in the US are starting to ease. But delivery times remain elevated, and we see inflationary...
Anthony Doyle
Anthony Doyle
Firetrail Investments
Macro

Unravelling the Aussie bank liquidity mystery

A scarcity of Australian government debt meant that the RBA and APRA had to be creative when implementing the post-GFC global banking reforms, known as Basel 3. The...
+1
Matthew Johnson
Matthew Johnson
Coolabah Capital
Macro

Economists again calling on RBA to adjust QE taper in light of recession

Interesting thoughts here from UBS on the RBA's QE program (see below), which reflects the emerging consensus, although I would personally like to secure some more...
Christopher Joye
Coolabah Capital
Macro

Four signals from the Fed you don't want to miss

COVID-19 has changed the world and the repercussions will be felt in the bond market for several years. But the message from markets is murky, at best. We're at the...
Mia Kwok
Mia Kwok
Livewire Markets
Macro

Six reasons why shares are at or near record levels. But is it sustainable?

Despite lots of worries – around the resurgence of coronavirus driven by the Delta variant, peak growth, peak monetary and fiscal stimulus and high inflation – global...
Shane Oliver
AMP
Macro

Closed borders have highlighted Australia’s population Ponzi scheme

Philip Lowe’s recent comments on the impacts of migration were basic economic analysis but hit a raw nerve for those invested in Australia’s population Ponzi scheme....
Jonathan Rochford
Narrow Road Capital
Macro

Heads bankers and fund managers win, tails taxpayers lose

In the Australian Financial Review I write, what do you get when politicians hire bankers to run their treasury and fund managers to lead their debt issuance agency?...
Christopher Joye
Coolabah Capital
Macro

Bond markets tempt FAIT amid prospects for a steeper US yield curve

Since the hawkish Fed meeting in June, investors have talked of a ‘policy mistake’ that could undermine the central bank’s Flexible Average Inflation Targeting...
Anthony Doyle
Anthony Doyle
Firetrail Investments
Macro

Sophia Rodrigues gets the wobbles on QE3

There is one little-known RBA watcher who has got things more-or-less right of late: Central Bank Intel's Sophia Rodrigues. About one month before the RBA announced...
Christopher Joye
Coolabah Capital
Macro

The inflation debate watchlist for investors

Headline monthly consumer price index (CPI) figures are not enough to tell us if inflation will linger beyond the coming months. The pace of economic recovery and the...
WLE
Matthew Haupt
Wilson Asset Management
Macro

Peter Costello and Joe Aston on NSW becoming a massive levered hedge fund...

The scandal around NSW using tens of billions of dollars of taxpayer debt to turn itself into a gigantic leveraged hedge fund (reaping substantial fees for the...
Christopher Joye
Coolabah Capital
Macro

Winning portfolio strategies for the road ahead

From dodging growth traps in global markets to navigating the maze of global small and micro-caps and hunting down defensive property assets, top stock-pickers from...
Glenn Freeman
Livewire Markets
Macro

Setting the course for H2 2021

The macro and policy transition we flagged last month is now more clearly underway. The pace of the recovery from 2020’s global recession looks set to peak in the...
Scott Haslem
LGT Crestone
Macro

NSW Treasurer changes tune on using tens of billions of taxpayer debt to punt equities

All roads in this scandal lead to the potentially career-defining decisions made by the NSW Treasurer Dominic Perrottet. Until now, Perrottet stayed conspicuously...
Christopher Joye
Coolabah Capital
Macro

What can we expect from inflation?

It has been noted by some economic observers that Fed Chairman Jerome Powell has, in 2021, been consistent in one aspect of his predictions about inflation; that he’s...
Roger Montgomery
Montgomery Investment Management
Macro

Questions on NSW's debt-funded, $27bn punt on stocks and global financial markets

In the AFR today economics editor John Kehoe, arguably one of Australia's best financial journalists, has an important page-one news story on how NSW's Treasurer...
Christopher Joye
Coolabah Capital
Macro

The shortest commodity supercycle ever?

Has anybody else noticed how nobody is talking about a "commodity supercycle" anymore? There is a good reason for this. A commodity supercrash has begun instead....
David Llewellyn-Smith
David Llewellyn-Smith
Nucleus Wealth
Macro

3 global trends to watch for

To be forewarned is to be forearmed, and so we thought it’s worth sharing some insights on themes that investors should keep an eye on. 1. Income: this is...
Chad Padowitz
Talaria Asset Management
Macro

Is a growth shock coming? | Video podcast

Earlier this week I published is a growth shock coming? which was included in today's daily Livewire email. This podcast we recorded last week is a continuation on...
Damien Klassen
Nucleus Wealth
Macro

China regulation: Opportunity may lie in the midst of a stock sell-off

The situation is still evolving with regard to China’s new regulations for the after‑school tutoring (AST) sector and the subsequent sell‑off in platform education...
T. Rowe Price
T. Rowe Price
Macro

Participate and protect: The key to riding out uncertainty

The financial year has ended and it’s a fitting time to take stock of what’s transpired and to also look ahead. Double-digit gains across many share markets featured...
Jonathan Armitage
MLC Asset Management
Macro

If bond yields are tracking lower, where does that leave equities?

The US is at the centre of financial markets: When it sneezes, the world catches a cold. So recent concerns around inflation have put the world on notice. But,...
Angus Kennedy
Livewire Markets
Macro

Is a growth shock coming?

Stock markets are expensive. Debt levels are extremely high. But earnings growth is strong. Really strong. And government/central bank support continues. Making asset...
Damien Klassen
Nucleus Wealth
Macro

Howard Marks: "I wouldn't bet the ranch (on inflation)"

Howard Marks’s latest memo on the “topic du jour” of inflation stretches to about 15 pages, around 8,000 words and graciously references the work of dozens of his...
Glenn Freeman
Livewire Markets
1501-1525 of 2754