The Fed

While markets have so far shrugged off the inevitable rate rises, there’s plenty more to come – and the global outlook keeps getting gloomier. The Fed’s decision to unleash massive monetary stimulus in the early days of Covid-19 (and in nearly every economic crisis before it) ushered in a brief golden age for markets. But…

While neither Ukraine or Russia are particularly large trading partners for the West, the risks created by the conflict aren’t negligible – and could easily spill over to the global economy. “The potential economic risk (of the Ukraine conflict) has three primary transmission mechanisms: higher global energy prices, further supply chain disruptions and a European…

The RBA is lagging its global peers with light touch monetary policy and lax guidance that will hinder, rather than help, markets and the economy. “The RBA had a good first 18 months of Covid and then it came off the rails a bit towards the end of last year and into this year,” Stephen…

A storm has hit global equity markets. But investors should ignore the blood on the floor and focus instead on the big structural changes that will underpin earnings for decades to come. “The storm that’s hit Australian equity markets in the last couple of days is a storm we’ve been sitting in for the best…

Jeremy Grantham believes the “superbubble” he’s been warning about for years is now on the brink of collapse – and that the “wild rumpus” can begin at any time. Calling the collapse of a market bubble is anybody’s game. One needs only to know that it exists – something now patently obvious to any investor…