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Macro

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

Macro

Yellen: Expect deep scars from this crisis

Hamish Douglass, Chairman and Chief Investment Officer, spoke with Janet Yellen, the most recent former chair of the Federal Reserve, and an adviser to Magellan, about...
Magellan Investment Partners
Magellan
Macro

Running out of steam

Wall Street’s dramatic recovery in April and May has run out of steam. You don’t have to look far for why that might be. The resurgence of Covid-19 infections, to the...
Tom Stevenson
Fidelity International
Macro

Forecasting Victoria's infection peak: 13 July to 26 July

One question we have been regularly asked is when will Victoria's second COVID-19 wave actually peak. We can use our existing COVID-19 forecasting systems to address...
Christopher Joye
Coolabah Capital
Macro

Melbourne returns to lockdown

Australia has been viewed as an outperformer in the global battle against Covid-19, and with justification. Australia’s death toll of 106 and currently just 10 people...
Sean Callow
Sean Callow
Westpac Bank
Macro

Up to 50 per cent risk of major power conflict

In the AFR today I write that the raging conflict between central banks’ unprecedented interventions in financial markets and the global economy’s shocking underlying...
Christopher Joye
Coolabah Capital
Macro

Central banks banking governments

Central banks globally have clearly been buying a lot of government bonds over the last decade. But just how much the world’s central banking powers own of their own...
Chris Demasi
Montaka Global Investments
Macro

US election market impact less than clear

“Economics is a choice between alternatives all the time. Those are the trade-offs…I can't think of a president who has been overburdened by a knowledge of economics.”...
Scott Haslem
LGT Crestone
Macro

No such thing as a free lunch

Through the pandemic, global fiscal support packages have gone a long way towards helping to offset the decline in corporate and household income. In the U.S., where...
Seema Shah
Principal Asset Management
Macro

When counterfactuals are hidden and histories alternative

As Australia sets to emerge from this once-in-a-century pandemic, some of us do wonder was it all worth it? If COVID-19 was not as bad as the forecasters led us to...
Andrew Macken
Montaka Global Investments
Macro

Have we seen the last of the bear market?

Despite facing a myriad of problems equity markets have staged a stunning comeback rally over the last three months. Liquidity from central banks, combined with...
JBH
Patrick Poke
A Rich Life
Macro

The great disconnect

We concluded our March quarter note with the comment: “Let’s just hope we now don’t have a gigantic bounce in share prices fuelled by the central...
Tony Cousins
Tony Cousins
BMO
Macro

Virus spoils re-opening party

Global equities managed to shrug off mounting U.S. virus concerns last week and instead focus on better than expected ‘re-opening’ economic data. Of course, the Fed...
David Bassanese
Betashares
Macro

Coronavirus to kill Australian Property | Webinar & Podcast

The strong rebound in Australian property values has come to a shuddering halt with the Coronavirus lockdown. Auction clearance rates and buyer sentiment have...
Damien Klassen
Nucleus Wealth
Macro

The case for real assets - building more resilient portfolios

We have not made any tactical changes to portfolios this month after last month’s decision to trim equities. We remain modestly overweight risk, led by our positioning...
Scott Haslem
LGT Crestone
Macro

A quartet crossing Continents’

In what follows I will swiftly cross Continents to consider the futures of four enigmatic economies. The fortunes of two of these concern me greatly but, that of the...
Savvas Savouri
Savvas Savouri
Toscafund Asset Management
Macro

Youth unemployment is over 25% and the true picture is probably worse

According to the latest unemployment statistics, over 300,000 Australians aged between 15-24 are now unemployed and over 280,000 dropped out of the labour force in...
Anthony Doyle
Anthony Doyle
Firetrail Investments
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
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