Issue: 23rd July 2021 We started these fortnightly missives to help keep our community informed during last year's lockdown. So much has happened in the 18 months since. Both the economy and markets have staged remarkable recoveries, but here we are faced with a lockdown once again. As we contemplate what to do with ourselves over the coming days (our [...]

Issue: 9th July 2021 The 2021 Intergenerational Report is in. The 2021 Intergenerational Report (IGR) was released on the 28th June revealing the treasurers educated guess at what Australia will look like in 2060. It is a five-yearly reminder that, without action, an ageing population, and other issues will leave public finances looking ugly. To use Treasurer Frydenberg's own word, [...]

Issue: 25th June 2021 On Wednesday, the Federal Reserve released a new set of eagerly anticipated economic projections. The questions on everyone's lips was, of course, inflation - what can we expect? And, interest rates - how soon can we presume to see a rise?The Fed has two mandates: maximize employment and keep prices stable at around 2%. When the [...]

Issue: 11th June 2021 Market Update May was a month where every asset class worldwide seemed to be up around 1'ish'% (shares, bonds, commodities etc.). Not the radical gains experienced after the US election and early this year, but an expected pause as markets begin their re-balancing. Historically, when markets travel as fast as they have over the last 12 [...]

Issue: Friday 28th May 2021 It has been a choppy month for equity markets in May. The broad Australian and US indices are on track to finish higher by about 1% and 0.6% respectively after recovering from mid-month lows induced by a sell-off in high valuation tech companies. The tech-heavy Nasdaq has not completely recovered and looks as though it [...]

Issue: Friday 14th May 2021 The days directly after Budget are arguably more important than Budget day itself. With the Budget announcement out of the way, there is more space to digest and to consider the commitments (particularly their context) - As always, the opinions are partisan, polarising and prolific!! One Australian who seems very happy is Treasurer Josh Frydenberg. [...]

April has been another excellent month for equity markets. The US hit new highs again last night with the S&P500 up 0.7% and similar advances for the Dow Jones. The Nasdaq underwhelmed slightly but still rose 0.2%. The three drivers: Positive economic data - GDP rose by 6.4%, and the number of people filing for unemployment benefits hit the lowest [...]

Issue: Friday 16th April 2021 At the risk of sounding like a broken record... 'we are in an economic environment never seen before'. Global equities trade near record highs, in Australia the property market is explosive, consumer and business confidence is at a 10 year high, and our economy is growing faster than ever. And it's not just Australia. Globally, [...]