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11 June 2025
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The current bank turmoil should not be a GFC-type event, although the risk of tightening credit conditions is real. Volatile markets are an opportunity to buy strong, growing companies trading at attractive valuations.
The key issue that lies behind the banking turmoil is the constriction of credit supply that central banks are inducing amidst their assault on inflation. The withdrawal of liquidity finds out weaknesses in the system.
Central banks are unable to ignore the inflation in front of them, but underlying macro-economic conditions indicate that inflation may be transitory and the consequences of monetary tightening dangerous.
With bond rates and Reserve Bank actions driving equity markets and inflationary expectations, it pays to understand what is really happening in both central bank and commercial bank balance sheets.
Higher volatility, higher funding costs, US rate rises with AUD interest rates decoupling, Quantitative Tightening, maturing bond reinvestment flows all point to a difficult 2018.
A counter-view on why bond yields are so low, and how the market can still use and interpret what bonds are telling us. Plus Roger responds that different opinions make a market, and that's good.
It matters little if you are invested in property, shares or bonds, we have moved into a lower return environment. It's a time for caution in a world where debt and defaults are rising.
This period of ultra low interest rates and government-stimulated economies has created an overly optimistic view of world economic growth, which will have implications for future retirement savings returns.
The European Central Bank was reluctant to embrace a QE strategy following the GFC. But in late 2014 it was introduced to fight deflationary forces and boost growth in the euro-zone. The question is: will it work?
October 2014 marks the end of the US Federal Reserve’s monetary policy it called ‘quantitative easing’. The Fed’s aim was to create inflation, increase bank lending and depress the US dollar to help exporters. Did it work?
Unemployment and inflation seem to be heading in different directions in Australia and the United States, but the outcomes for interest rates and equity markets might be the same.
A positive view on US growth but some concerns around possible inflation effects and the unwinding of QE. Growth may give a tailwind but it is rarely the most important factor determining market returns.
Sydney is set to become the world’s most expensive city for housing over the next 12 months, a new report shows. Our other major cities aren’t far behind unless there are major changes to improve housing affordability.
The Government's proposed tax has copped a lot of flack though I think it's a reasonable approach to improve the long-term sustainability of superannuation and the retirement income system. Here’s why.
Behind market volatility and tariff threats lies a deeper strategy. Trump’s real goal isn’t trade reform but managing America's massive debts, preserving bond market confidence, and preparing for potential QE.
Australia's superannuation inequities date back to poor decisions made by Parliament two decades ago. If super for the wealthy needs resetting, so too does the defined benefits schemes for our public servants.
The super tax has caused an almighty scuffle, but for SMSFs impacted by the proposed tax, a big question remains: what should they do now? Here are ideas for those wanting to withdraw money from their SMSF.
Strategies to get rich versus stay rich are markedly different. Here is a look at the five main ways to get rich, including through work, business, investing and luck, as well as those that preserve wealth.