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Macro

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

Macro

The macro forces you should watch in FY22

The mother of all “unknown unknowns” (to borrow some tortured phrasing from former US Defense Secretary Donald Rumsfeld, who passed away on Friday) hit the world a...
Glenn Freeman
Livewire Markets
Macro

Investing in large caps ahead of two major inflection points

Conditions could not be more supportive at the moment, but inflection points on the horizon will wind excesses out of Australian investment markets, as China eases its...
WLE
Matthew Haupt
Wilson Asset Management
Macro

Open borders are the next big regime change

In the AFR today I write that a crucial new development in the COVID-19 debate has been State governments declaring their hands on when Australia should resist...
Christopher Joye
Coolabah Capital
Macro

4 key investor impacts of the latest lockdowns

News that I and many others were effectively in lockdown from Friday was depressing. It got even more depressing when the whole of Sydney and its surrounding suburbs...
Shane Oliver
AMP
Macro

What to buy in inflationary times

The biggest question for markets globally is how high will inflation reach and for how long. To understand why it’s such an important question, you need to appreciate...
Andrew McAuley
Credit Suisse
Macro

Finding future profits: Is this time different?

US corporate earnings (S&P 500) totalled US$421 billion, up 27% compared to the first quarter of 2019 (pre-pandemic earnings). At a time when unemployment remains...
Chris Bedingfield
Quay Global Investors
Macro

Wilson Asset Management: A big market-mover is coming … and soon

A potential “taper tantrum” as the US Federal Reserve eventually winds back record stimulus is the number #1 macro topic for 2021, Wilson Asset Management portfolio...
COL
+3
Glenn Freeman
Livewire Markets
Macro

Income from the West: Long-term reliable income streams

The Western Australian (“WA”) economy continues to go from strength to strength as per the latest release of Labour Force data from the Australian Bureau of Statistics...
BHP
COL
RIO
+1
Shane Wakelin
Shane Wakelin
Fawkner Property
Macro

Careful of the T-bone

The G & T might be replaced with the T & T on the Northern Hemisphere cocktail circuit this summer – tapering and transitory will feature prominently in conversations...
Chris Manuell, CMT
Chris Manuell, CMT
Jamieson Coote Bonds
Macro

The next 12 months will be crucial for Quality

The end of the dream run for Growth and a longer-term period of outperformance for Quality could be close, says Fairlight Asset Management portfolio manager Ian...
CAR
CSL
REA
Glenn Freeman
Livewire Markets
Macro

The keys to Australia's household wealth

Australians are amongst the richest in the world, helped in large part by the value of dwellings and our compulsory Superannuation system. Today, Australia's household...
Anthony Doyle
Anthony Doyle
Firetrail Investments
Macro

Five reasons not to panic as central banks head for the easing exits

The drumbeat of central banks heading towards the exits from ultra-easy monetary policy is getting louder. It started with the Bank of Canada, then the Bank of England...
Shane Oliver
AMP
Macro

The inflation head fake: commodity prices, inventory supercycles and how to invest

The US just printed 5% inflation. Any number of pundits are suggesting investments from commodities to value stocks to protect your investment portfolio from rising...
Damien Klassen
Nucleus Wealth
Macro

The crucial question investors are missing in the inflation debate

Google searches for the term “inflation” doubled in May from the 2020 average, hitting the highest level since 2009. More curiously – but obviously linked – searches...
Pete Robinson
Challenger Investment Management
Macro

Forecasting Australian herd immunity and opening up our borders: early to mid 2022

Coolabah has attempted to forecast both the advent of "herd immunity" in Australia and when governments will be comfortable opening-up our borders to both inflows and...
Christopher Joye
Coolabah Capital
Macro

Why no inflation pass-through is a bigger concern for China

Producers in both China and the US are facing higher costs, prompting growing concerns that inflation could threaten the global economy – but China isn’t waiting to...
Ben Wang, Ph.D. CFA FRM
Jamieson Coote Bonds
Macro

Macro Monday: The prospect of higher rates rattles equities

The ASX200 pushed ever higher last week taking its advance to ~12% year to date but following sharp losses in the US on Friday this week’s going to start off on a...
James Gerrish
Market Matters
Macro

Jobs data not as strong as it seems...

In the AFR today I write about what an incredible week it was for markets. The fourth-largest monthly decline in unemployment on record and yet the Aussie dollar fell...
Christopher Joye
Coolabah Capital
Macro

The underemployment problem

The RBA has published a fascinating new research paper on "underemployment", which has increased noticeably since the GFC. The underemployment rate is defined as the...
Christopher Joye
Coolabah Capital
Macro

The collapse in foreign workers has boosted job vacancies and reduced unemployment

The closure of Australia's international border has seen a collapse of non-resident employment as foreign workers returned home. This has contributed to the largest...
Kieran Davies
Coolabah Capital
Macro

US Corporate Capex Comeback

Corporate capex growth crashed in 2020 for understandable reasons.Commodity capex in particular contracted at a record pace and now its weighting of total S&P500 capex...
Callum Thomas
Topdown Charts
Macro

A unique recovery: the handoffs commence

While the equities rally since the pandemic low has been largely uninterrupted, its leadership has undergone a marked transition. In 2020, stocks rebounded on the...
Matt Peron
Matt Peron
Janus Henderson
Macro

Why PIMCO’s Adam Bowe suspects inflation is a transitory fad

Throughout our discussions with the managers of Australia’s top-rated funds, it’s become evident that their views around the biggest tail risk for markets have...
Livewire Exclusive
Livewire Markets
Macro

Get ready to pivot!

We are in the fourth and final mini reflation cycle of this 12-year bull market. Price signals across capital markets are suggesting we have reached an important...
Justin Braitling
Watermark Funds Management
Macro

Evidence of excess liquidity is everywhere

The famous 1955 quote by then US Federal Reserve Chairman William McChesney Martin was that “The Federal Reserve… is in the position of the chaperone who has ordered...
Jonathan Rochford
Narrow Road Capital
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