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Macro

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

Macro

Evergrande and equity market ructions

So far, the equity market has only fallen a few percentage points. A lot of ink spilled for a relatively modest market reaction. (Examples: here, here and here to list...
David Berthon-Jones
Aequitas Investment Partners
Macro

Evergrande more like Greece than Lehman

The Evergrande saga is intensifying daily. The firm’s equity is all but gone. Its debt barely trades. Its sales and assets are crashing in value. Its brand damage is...
David Llewellyn-Smith
David Llewellyn-Smith
Nucleus Wealth
Macro

Childcare investing for stable income returns

When investors think about commercial real estate investment opportunities, asset classes such as office, retail and industrial typically spring to mind -...
GEM
Shane Wakelin
Shane Wakelin
Fawkner Property
Macro

Morrison’s nukes yield geo-political game-changer

In the AFR I write that it is the single most important national security decision Australia has made since the Second World War: Prime Minister Scott Morrison forging...
Christopher Joye
Coolabah Capital
Macro

What might a review of the RBA find?

This week, the OECD recommended a review of the RBA. They noted the persistent undershooting of inflation, and a variety of factors that might have led to over-tight...
Matthew Johnson
Matthew Johnson
Coolabah Capital
Macro

Which of these 9 turbocharged sectors will continue to surge

Innovate. Disrupt. Iterate. Deliver. These four words have a very modern ring but there's nothing especially modern about them. They apply equally to the creation of...
Matt Buchanan
Matt Buchanan
Macro

What's with the Global Supply Chain issues? Two reasons why they may stick around.

Supply chain issues were cited by company management numerous times during the recent reporting season and were attributed as one of the key reasons behind operational...
RMD
Alastair MacLeod
Elston Asset Management
Macro

Investors get ready for 11pc return from property stocks

"Investors get ready for 11pc return from property stocks" - This was a headline in the AFR this week that probably caught many investors, particularly real estate...
COL
WES
Shane Wakelin
Shane Wakelin
Fawkner Property
Macro

RBA increases QE3 stimulus by 40 per cent

In the AFR I write that after months of debate about whether the Reserve Bank of Australia would increase or decrease its stimulus in recognition of the COVID-induced...
Christopher Joye
Coolabah Capital
Macro

Three reasons why I am still bullish on this market

Over the past 12 months, the All Ordinaries index and the S&P 500 have risen around 26 and 35 per cent, respectively. Not bad when you consider the economic ravages...
Roger Montgomery
Montgomery Investment Management
Macro

APRA closes the Committed Liquidity Facility

In a move that's a bit more aggressive than I had expected, APRA just announced that they will close the CLF (Committed Liquidity Facility).   The CLF will be...
Matthew Johnson
Matthew Johnson
Coolabah Capital
Macro

Bull or bear? 3 fundies on how they’re positioned for the (next) recovery

The “reopening trade” was a dominant topic among investors as recently as just a few months ago, as we lifted our heads and began to imagine a life without lockdowns,...
WOR
Glenn Freeman
Livewire Markets
Macro

This is not an exit

Momentum in global growth has unexpectedly softened in recent months. Persistent supply chain disruptions are hampering production, slowing spending and delaying...
Kerry Craig
J.P. Morgan Asset Management
Macro

RBA gets third time lucky with dovish taper implying $147bn of QE buying

After two consecutive months of surprises provoked by the RBA trying (unsuccessfully) to shift from its prior posture of data-dependent "nowcasting" to boldly...
Christopher Joye
Coolabah Capital
Macro

APRA should wind down the CLF in 2yrs

Recent data suggests that APRA and the RBA can shrink the Committed Liquidity Facility (CLF) faster than I had previously figured. The entire point of the CLF was to...
+1
Matthew Johnson
Matthew Johnson
Coolabah Capital
Macro

CEO Insights - ASX Reporting Season Special

As part of the NAOS investment process, we pay particular attention to the comments made by company CEOs and business leaders in order to gain a greater understanding...
Robert Miller
NAOS
Macro

Credit Suisse: RBA won't hike until 2025

Economists and investors (and media) don't just enjoy interest rate speculation (I mean, we do enjoy it as well). But we also need to keep an eye on the Central...
Livewire Exclusive
Livewire Markets
Macro

Bumpy road ahead for China

The heightened US-China relationship tensions since the Trump administration have forced China to re-finesse its domestic economy priorities. This backdrop makes the...
Ben Wang, Ph.D. CFA FRM
Jamieson Coote Bonds
Macro

Is Australia off course?

After a sharp rebound during H1 2021, Australia’s near-term economic outlook has worsened significantly. The COVID-19 Delta outbreak has extended across the eastern...
Scott Haslem
LGT Crestone
Macro

Better aligning fiscal, monetary, and bank regulatory policy

The COVID-shock of 2020 put a spotlight on a design flaw in Australian banking regulations. At a time when governments are borrowing lots of money, and the RBA is...
Matthew Johnson
Matthew Johnson
Coolabah Capital
Macro

Four risks in a market priced for perfection

Since the lows of early 2020, markets have experienced a pretty strong recovery. Yet, with equity markets at an all-time high, while most of us are locked up at...
Simon Doyle
Schroders
Macro

7 reasons to look beyond the lockdown blues

Three months ago there was much optimism about the Australian economic outlook. GDP regained its pre-pandemic level, confidence was strong, the jobs market was...
Shane Oliver
AMP
Macro

How to understand the change in home approvals

The building approvals data is a monthly release issued by the Australian Bureau of Statistics detailing the change in building permits (approvals) issued, and is...
David Berthon-Jones
Aequitas Investment Partners
Macro

Patient Powell plays it safe

Markets have been rather listless these last few months, contrasting with the beginning of calendar 2021, when financial markets moved directionally based on key...
Jesse Imer
Jesse Imer
Macro

Fed disconnects timelines for tapering and rate rises

In his speech at the annual Jackson Hole Symposium, Federal Reserve chairman Powell sent three key messages. Firstly, he confirmed that the test of "substantial...
Anthony Doyle
Anthony Doyle
Firetrail Investments
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