The US Fed left rates unchanged last night but signalled a hawkish stance on raising rates one more time this year and keeping them higher for longer. Wall St fell as a response while yields climbed alongside the dollar.
We have a special article for today from our Editorial Director Greg Canavan. You’ve heard a lot both from and about him recently, on the research he’s been conducting around the Net Zero Agenda. For him, it’s an economic and investment debate, not a political or ideological one. And he firmly believes that if we let this transition continue, we’ll only be watching costs rise and our standard of living fall. Read on…
ASX 200 falls at open. US Treasury yields hit 16-year high as market braces for US Fed decision. Aussie manufacturing sector pessimistic.
Seeing the future requires us to open our eyes. As best we can, we have to try to sort out the real from the unreal. Being told you can cure a debt problem with more debt, this is not real…it’s in the realms of fantasyland. Yet, plenty of people have bought (or, more to the point, borrowed) into this carefully orchestrated version of ‘reality’. The higher markets go, the more blinded people are to what’s really happening…
The US has been slipping in the international ratings for at least 20 years…and by some measures, for more than 50 years. The US share of world GDP, for example, has been cut in half, from around 40% in 1960 to barely 25% today.
ASX 200 Futures point to a fall in the XJO this morning. New Hope FY23 results show NPAT up 11%, while Orica raises climate targets for 2030. Wall St finished flat overnight as it awaits the critical decision by the Fed, due Wednesday night AEST.
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