Executive Summary Markets Priced For A Restrictive Level Of Australian Rates The neutral interest rate in Australia is lower than in past cycles, for several reasons: low potential growth, weak productivity, high household…
Listen to a short summary of this report. Executive Summary EUR/JPY And The DXY: Unsustainable Gap Three interrelated themes are likely to play out by the end of 2022 – peak Fed hawkishness,…
Wages in Australia rose 2.4% y/y (0.7% q/q) in Q1, slightly below expectations of 2.5% y/y (0.8% q/q). Administrative & support services, education & training as well as arts & recreational services industries drove…
Executive Summary Global inflation will peak sometime in the next few months, a process that has likely already begun in the US. This will give policymakers some breathing room to turn less hawkish, a more credible stance given…
Listen to a short summary of this report. Executive Summary The Dollar Likes Volatility Uncertainty about Fed policy has supercharged volatility in bond markets, and correspondingly, USD demand (Feature…
Australia’s headline inflation rate accelerated from 1.3% q/q to 2.1% q/q in the first quarter, surpassing consensus estimates of 1.7%. On a year-on-year basis, inflation surged from 3.5% to a 10-year high of 5.1%, handily…
Executive Summary Summarizing Our Main Investment Themes In One Chart Our current strategic recommendations are centered around four key themes: global inflation will slow over the rest of 2022, Europe remains too weak to…
Australian equities are down less than 1% in USD terms so far this year, passively outperforming other developed market equity benchmarks. By comparison, the S&P 500 is down nearly 10% while the Euro Stoxx 50 has declined…
Executive Summary Macron Still Favored, But Le Pen Cannot Be Ruled Out Macron is still favored to win the French election but Le Pen’s odds are 45%. Le Pen would halt France’s neoliberal structural reforms,…