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Macro

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

Macro

Is gold set to be institutionalised?

Even though gold prices rallied in the first two weeks of July, there is no denying it was a tough first half of the year for the precious metal, which fell toward USD...
Jordan Eliseo
ABC Bullion
Macro

What can we learn from the investing themes of FY21?

July is a natural time for us to review the financial year just past – both in terms of The Montgomery Fund as well as the investment journey of the broader market....
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IEL
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Joseph Kim
Macro

"The Wealth Tax" or why inflation matters

I’m borrowing from Financial Times columnist Merryn Somerset Webb’s expression that inflation is a wealth tax because it so elegantly puts into relief what the current...
Chad Padowitz
Talaria Asset Management
Macro

How many lives have been saved by Australia’s approach to COVID?

By global standards, Australia has so far managed to contain the COVID outbreak fairly well. Given that debate still rages over whether rolling lockdowns and border...
David Bassanese
Betashares
Macro

Is greed feeding the macro environment?

As society was exhaling from the post-war world of 1946, Arthur Lefford from New York University’s Department of Psychology took particular interest in people’s...
Jesse Moors
Jesse Moors
Spatium Capital
Macro

Lowe’s monetary policy revolution

In the AFR I write that in an important new speech on Thursday, RBA governor Phil Lowe confirmed that the central bank is grappling with the big macro questions that...
Christopher Joye
Coolabah Capital
Macro

Governments are running an anti-productivity agenda

One of the most annoying and destructive narratives from mainstream economists in the last decade has been that government debt doesn’t matter. It’s commonly trotted...
Jonathan Rochford
Narrow Road Capital
Macro

What’s hot and what's not as stimulus tapers off?

Last year brought fiscal stimulus to the world's economy at a scale never seen before. In Australia alone, the government spent $257 billion in direct economic...
Glenn Freeman
Livewire Markets
Macro

Phil Lowe provides more detail on the length of QE program

In the Q&A following his excellent speech today highlighting a 3 point something NAIRU, RBA Governor Phil Lowe provided further nuance and detail around his QE...
Christopher Joye
Coolabah Capital
Macro

Diverging recoveries, diverging policies

Variations in vaccination progress and economic stimulus have delayed synchronization of the global economic recovery. The U.S. is expected to lead the recovery in...
Kerry Craig
J.P. Morgan Asset Management
Macro

The market vs the RBA – is a hike before 2024 likely?

The RBA is sticking with their timing of 2024 before they see any increase in interest rates. The market believes that inflation will be back sooner than the RBA is...
Chris Rands
Chris Rands
Yarra Capital Management
Macro

Rising inflation: A structural shift or dead-cat bounce?

Google searches for “inflation” are higher now than at any time since such things were first measured around 13 years ago. It’s partly a natural reaction to the...
Glenn Freeman
Livewire Markets
Macro

What is the return outlook for FY22?

The past financial year saw a spectacular rebound in returns for investors as the focus shifted from the recession to recovery against a backdrop of policy stimulus...
Shane Oliver
AMP
Macro

Time to reflect and reload

The spike in inflation as the United States has emerged from its COVID-19 lockdowns has hardly come as a surprise. Its magnitude, however, has caused economists and...
Ronald Temple
Lazard Asset Management
Macro

Five factors driving the correction in gold

Precious metals fell sharply in June 2021, with gold, which fell by more than 7%, recording one of its largest monthly declines of the last decade. The key driver of...
Jordan Eliseo
ABC Bullion
Macro

RBA's third bond buying program arrives and will likely be more than $100bn in size...

After months of anticipation, the RBA finally delivered on its third quantitative easing (QE) program. Way back on 5 February 2021, when Coolabah first forecast a $100...
Christopher Joye
Coolabah Capital
Macro

Chris Watling's allocation tips for long term investors

Long-term readers of Livewire will be familiar with the views of strategist Chris Watling, the founder and chief economist of London-based Longview Economics....
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Livewire Exclusive
Livewire Markets
Macro

The big questions for equities

Is the market cycle turning? Are we entering a new phase of growth and policy both here and offshore? This month we look at the ‘big questions’ for equity markets in...
Scott Haslem
LGT Crestone
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...
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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...
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Glenn Freeman
Livewire Markets
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