SQM upgrades Coolabah’s Floating-Rate High Yield Fund to 4.25 stars
This week SQM Research upgraded Coolabah’s Floating-Rate High Yield Fund to a ‘Superior’ 4.25 Star investment rating.
Research
Estimating the impact of climate change on GDP
Governments have made progress in measuring the economic impact of climate change to date, but there are still large gaps in coverage…
Report by Dr Stephen Bartos
An Assessment of Public Policy Implications of Decisions in relation to the NSW Generations Fund and NSW Government Debt.
Navigating By The Stars, Part 1: Estimating Australia’s NAIRU
With the Reserve Bank of Australia (RBA) committed to reaching its legislated “full employment” objective in order to finally return inflation to its 2-3% target band, full employment…
Forecasting the housing boom
Coolabah’s Chief Macro Strategist, Kieran Davies replicates one of the RBA’s internal models on the Australian housing market and finds that house prices are expected to appreciate by about 25% over the next few years. Read the overview enclosed below.
QE 2.0: Weak wages growth and the RBA’s full employment goal point to another round of bond purchases
In this new paper, Coolabah’s Chief Macro Strategist, Kieran Davies, and its Chief Investment Officer, Christopher Joye, examine the case for the RBA launching QE 2.0 after the current $100 billion QE program, which has helped slow the ascent of both long-term interest rates and Australia’s trade-weighted exchange rate, expires. They focus, in particular, on …
Commonwealth budget, Oct 2020: Tracking better than the government’s forecast profile ahead of a windfall from iron ore
Authored by Kieran Davies, Coolabah Capital Investments. In this new report, we review our real-time tracking of the Commonwealth budget. Treasurer Frydenberg is expected to publish a budget update this week, with the Mid-year Economic and Fiscal Outlook (MYEFO) reportedly due on Thursday. Treasury’s strong preference would be to publish no change to the outlook …
QE, the collapse of the money multiplier, and the bond multiplier
In a new report published today we argue that this year has seen a sea change in the operation of monetary policy in Australia with the Reserve Bank adopting several unconventional measures that have been part and parcel of its peers’ policy toolkits since the global financial crisis. With the cash rate now at the Reserve …
QE, the collapse of the money multiplier, and the bond multiplier Read More »
How tight can semi-spreads go post QE?
Authored by Dr James Yang, Senior Data Scientist, Christopher Joye, Chief Investment Officer, Matthew Coleman, Senior Consultant, Coolabah Capital Investments. This brief note seeks to provide some evidence on how tight state government (semi) bond spreads in Australia could go in an environment in which the RBA is seeking to drive the jobless rate back …
Aggressive RBA Policy Easing in November
Authored by Kieran Davies; Coolabah Capital Investments. For a number of months now Coolabah Capital Investments (CCI) has forecast that the RBA would embark on another round of policy easing, which is a view that markets have gradually come to embrace. This note summarises our current expectations regarding the precise policy mix the RBA will …
