Brett Careedy

Source: Bloomberg, S&P Dow Jones, MSCI, FTSE Russell, 23rd August 2026 Global equities retraced modestly but held near record highs while government bond yields climbed to multi-year highs across major currencies. Australian corporate earnings were strong, led by the resources sector. Oil prices rose as tensions in the Gulf intensified, while an abrupt breakdown of US-Canada trade talks resulted in fresh reciprocal tariffs. Domestic and Chinese activity data pointed to cooling growth, while...

The rise in Australia's July unemployment rate was overstated in the headline data, but participation fell back after a strong June. Overall, the data suggests a gradual cooling in the labour market, consistent with RBA forecasts. The published rise from 4.4% to 4.5% in today's Australian seasonally adjusted unemployment rate exaggerates the rise. The official ABS figures show that the increase was from 4.432% to 4.462% when expanded. -15.8k jobs were lost, compared to consensus estimates of...

Global equities made fresh record highs but receded on Friday as benign US inflation was offset by signs of slowing consumer spending. Softer retail sales pared back expectations of a near-term US rate rise, though underlying price pressures persist. Oil prices climbed as US strategic reserves continued to decline and tensions between the US and Iran remain unresolved. The RBA held rates steady but retained a clear hawkish bias, while financial shares fell on signs of a cooling mortgage...