Brett Careedy

The S&P500 briefly crossed 7,000 for the first time on solid earnings reports before easing back later in the week. Geopolitical risk remained elevated, led by new US tariff threats and renewed warnings towards Iran, alongside a sweeping reshuffle in China’s top military leadership. Precious metals and the US dollar swung sharply. After indicating apparent comfort with a weaker dollar, the president announced on Friday that Kevin Warsh will be nominated as the next Federal Reserve Chair. The...

The FOMC kept the policy settings on hold today as expected, but with two members dissenting in favour of a cut. During the press conference, Chair Powell batted away political questions and focused on the outlook, commenting that upside risks to inflation and downside risks to employment appear to have diminished, likely setting up several months of stable rates. The FOMC held the Fed Funds policy rate at 3.50%-3.75% today, as widely anticipated. Governor Chris Waller, a candidate to replace...

Australian GDP growth was slightly below estimates in Q3 supported by a pick-up in domestic demand, while inventory drawdowns and net exports detracted. Australian GDP rose by +0.4% in the September quarter in seasonally adjusted chain volume measures, according to the ABS today. The consensus forecast had been for a +0.7% increase. June quarter GDP was revised up from +0.6% to +0.7%, with annual GDP growth measured at +2.1%, the highest growth rate since 2023. In nominal terms, GDP rose by...