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Macro

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

Macro

Australian equities look attractive

Although we are now recommending clients lock in some gains on international shares, globally Credit Suisse believes investors should hold a higher than average...
Andrew McAuley
Credit Suisse
Macro

Jump in ISM new orders supports US equities

JK Galbraith observed, “there are two kinds of forecasters: those who don’t know, and those who don’t know they don’t know.”US equity markets moved higher again...
Scott Haslem
LGT Crestone
Macro

Mid-year – How will economic reality influence markets?

Halfway through a year that will get recorded in the history books as epic and ironically it feels like we have come to a fork in the road as governments, central...
Chris Manuell, CMT
Chris Manuell, CMT
Jamieson Coote Bonds
Macro

Inconceivable investor behaviours in a strange market

Over the past few months, we have seen some inconceivable things from markets and economies around the globe; from talk of negative interest rates to wild valuations,...
Pengana Capital
Pengana Capital
Pengana Capital Group
Macro

The US presidential election - implications for investors

Investor focus on the US election waned earlier this year after socialist Bernie Sanders dropped out of the Democratic primary race in favour of moderate Joe Biden. At...
Shane Oliver
AMP
Macro

Victorian COVID-19 testing may be part of the problem...

In my previous post I highlighted screenshots from our real-time, global COVID-19 infection/fatality tracking-system that demonstrated that Victoria had never...
Christopher Joye
Coolabah Capital
Macro

Does the Chinese banking system reduce or increase systemic risk?

There has been a material amount of discussion regarding private debt levels in China and the potential risks that these may pose to the financial system. Determining...
Clive Smith
Macro

Recovery is certain

The World Wide Pandemic Recession of 2020 will end. History is clear – all recessions have a start and an end. An economic downturn is always followed by economic...
John Abernethy
Clime Asset Management
Macro

How will rising CV-19 cases impact global equity markets this week?

The continued rise in in U.S. COVID-19 cases further undermined risk sentiment last week – even though, as U.S. President Trump noted, increased testing appears an...
David Bassanese
Betashares
Macro

Could US lockdowns slam the brakes on this market rally?

The COVID-19 data coming out of the US is grim and getting grimmer. My concern is that many investors have been pricing in an increasingly positive economic recovery,...
Stuart Jackson
Macro

China leading the innovation push

“The big money isn’t in the buying and selling…it’s in the waiting.” Charlie Munger, Berkshire HathawayWhile markets continue to focus on the recent...
Scott Haslem
LGT Crestone
Macro

Is there something systematically wrong with Victoria's COVID-19 performance?

Our data scientists’ analysis of Victoria's COVID-19 infection trajectory has unearthed a disturbing finding: it would appear that since April our southern neighbour...
Christopher Joye
Coolabah Capital
Macro

US COVID-19 cases continue to rise…what does this mean for the recovery?

Global COVID-19 cases crossed the 10 million milestone over the weekend (and global deaths have almost breached 500,000). New cases averaged 70,000-80,000 per day...
Scott Haslem
LGT Crestone
Macro

Has COVID-19 triggered a market ‘melt-up’?

Global stocks have staged a relentless rally in recent months even in the face of arguably the worst economic conditions since the Great Depression. While there are...
David Bassanese
Betashares
Macro

Bad news fuels US dollar recovery

The US dollar’s steep decline from mid-May to early June has been arrested, but unfortunately its comeback has been mostly driven by bad news. Equities have...
Sean Callow
Sean Callow
Westpac Bank
Macro

US jobs market improving at a slower pace

This week’s purchasing manager indices (PMIs) across the US, UK, Europe and Australia significantly beat expectations. In the US, the composite measure (services and...
Scott Haslem
LGT Crestone
Macro

Some thoughts now and then

Now GDP is the cumulative amount we all earn through the course of 12 months. It is a flow, and must not be confused with either the total value of assets across the...
Savvas Savouri
Savvas Savouri
Toscafund Asset Management
Macro

An alphabet soup of potential scenarios

Making sense of the mismatch between current stock market levels and the economic and medical headlines has brought with it an alphabet soup of potential scenarios....
Tom Stevenson
Fidelity International
Macro

Government benefits boosting bank accounts

Recent data has been better than expected in Australia through May and June. After a collapse in activity in April, retail sales have rebounded solidly in May, while...
Scott Haslem
LGT Crestone
Macro

Rising U.S. CV infections unnerve markets

Global equities tried hard to remain positive last week even as new CV-19 cases continued to emerge in Beijing and some U.S. states. After the previous Thursday’s...
David Bassanese
Betashares
Macro

Why I’m not a fan of the Fed buying corporate bonds

In March, the U.S. Federal Reserve moved to prevent a coronavirus-induced downturn by promising to set up an entity to buy corporate bonds and ETFs, including junk...
Roger Montgomery
Montgomery Investment Management
Macro

Can the euro’s strength continue?

One of the strongest currencies over the past month (other than the Australian dollar) has been the euro (versus the US dollar). From a low of USD 1.078 mid-May, the...
Scott Haslem
LGT Crestone
Macro

COVID concerns and world trade’s surprising resilience

“When you do testing to that extent, you’re going to find more people, you’re going to find more cases…So I said to my people, ‘Slow the testing down, please.’ They...
Scott Haslem
LGT Crestone
Expert Insights

4 key data points to monitor

In previous interviews Andrew McAuley, Managing Director at Credit Suisse Private Banking Australia, shared some of the positive developments that support his thesis...
Livewire Exclusive
Livewire Markets
Macro

Cyber War 1.0 Heats Up

Way back in 2013 I was writing a lot about national security. It was a subject that I had to eventually set aside to focus more on managing money. I managed to...
Christopher Joye
Coolabah Capital
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