Let's first consider the broader global economic environment, in particular, the macro drivers of a “globally co-ordinated” gradual improvement in economies which are continuing to evolve. The primary driver of markets, at this point in time, is globally accommodative monetary policy, which underpins economic expansion and the rise in financial... Show More
China is now the biggest elephant in the global room. We will have to get used to it. International financial news will not tell us how many cats did not get stuck up a tree this morning. Instead, they will report every crisis, real or imagined which occurs around the... Show More
The NAB business survey reported a pullback in business conditions and confidence in July; however, conditions remained above long-run average levels, while confidence was broadly in line. Of the sub-components of conditions, trading conditions and profitability both remain robust, but the employment index is clearly lagging well behind. Turning to... Show More
As highlighted by Chief Economist Bill Evans, this is a very surprising result. Movements of the Index of this Show More
In this Economic Update we discuss whether investors are out of the woods with the Greek situation and the new pressure point which appears to be China. Show More
Everyone has been watching the eye-watering rise of the Chinese A-Share indices and the most recent 30%+ correction of the China Shenzhen A-Share Index. This index is up 62% year to date. It is interesting to note that since the 1st of August 2009, the China Shenzhen A Share... Show More
Good Morning, Show More
Despite a small rally on Friday, last week was very trying for the few remaining precious metal bulls. Five tonnes of metal dumped on the SGE, plus a surge in volume on COMEX combined to send the gold price down USD $50oz in a matter of minutes. A much lower... Show More
Policy makers and the Australian CPI were in focus this week. For the RBA, the key themes on show in the minutes of the July board meeting were little changed: the consumer is lacklustre; business investment weak despite a lower AUD and firm confidence; and housing remains the key bright... Show More