The only real or hard bit of economic data last week was the US durable goods data. For economists, who understand economic theory, the durable goods data is a key...

The 90-day BBSW rate surged 19bps to 3.76% after the RBA decision to leave rates on hold at the July meeting and finished the week at 3.72%. Some market participants...

US Economic Outlook Last week's non-farm payrolls number of 147,000 was far in excess of the market's expectations of 110,000. Ordinarily we would not see this as significant for the...

European equities are increasingly gaining favour among global investors at the expense of U.S. equities. Funds flow data and recent performance point to this fact. The question is whether this...

The US strikes on Iran's nuclear facilities on Sunday will no doubt impact markets on Monday, but it could have been worse. The US has targeted only the 3 main...

Energy markets are receiving fair bit of airplay over the past few days as tensions in the Middle East have materially escalated and this morning one of Australia's largest companies, Oil...

Last week's US CPI was largely ignored by the markets - just as well. The data is currently distorted by the inventory tariff related build up and the ongoing tariff...

There has been a lot of commentary from all sources about the correlation between the USD, equity and bond markets in April. Several Fed Governors, market strategists and large investors...

The carry trade between USD and JPY has been a very popular trade over the past decade. As the interest rate differential between the currencies was significant, it enabled investors...

It is worth remembering, that economic forecasts from the RBA and the major banks that inflation will keep falling, are from the same economists that did not predict that inflation...

The RBA delivered a widely expected 0.25% cut to the cash rate at its recent monetary policy meeting, taking the official RBA cash rate to 3.85%. The Board noted the...

he exodus out of the US dollar has begun. There are three factors at play...

Last week calm returned to markets although there has been no real change in US policy outcomes, yet. We are 30 days into the 90-day pause and constructive developments around...

In recent decades, national debt levels have consistently risen across many countries, prompting ongoing debate over whether this trend poses a timebomb threat or simply reflects a manageable economic strategy....

Tariffs uncertainty – need to do a deal Unfortunately, investors hoping for a quick resolution to tariff discussions so that markets and businesses can ultimately gain some level of certainty...

Recent months have seen a noticeable flight from U.S. stocks, driven by investor fears over the resurgence of Trump-era economic policies. With trade tensions flaring and tariff ramifications starting to be...

The 90 day tariff imposition freeze announced last week certainly helped to stabilise asset markets, but it did not trigger a material recovery in either the bond market or the...

The markets have now entered an irrational phase with a level of panic that we have not seen since the GFC.  Long term readers of our material will remember, that...

We have constantly communicated to clients since the start of this year, the first quarter / first half of 2025 was going to be volatile (see below) and therefore we had...

Australian Budget Last week we pointed out that the assumptions on which the budget is based are more important than most realise. The Federal Budget assumption of steady unemployment, steady...