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Christopher Joye

Christopher Joye

Financial Review

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The Fed's reversal is toxic for stocks

The US central bank’s belated acknowledgement of re-accelerating inflation and the risks flowing from Donald Trump’s policies could trigger a...

22.12.2024 10

Financial Review

Christopher Joye

Why the RBA will follow the Fed’s election playbook

The Reserve Bank of Australia appears set to ease interest rates in a move that will support its political masters heading into a problematic poll.

13.12.2024 8

Financial Review

Christopher Joye

Public sector to blame for Australia’s poor productivity

Australia’s economic story has become dominated by public rather than private activity as politicians spend crazy amounts of money to buy votes.

06.12.2024 9

Financial Review

Christopher Joye

Could the RBA cut interest rates in February?

The latest inflation readings imply that there is a possibility the Reserve Bank of Australia could start easing early in the new year.

29.11.2024 10

Financial Review

Christopher Joye

Bank stocks look 58 per cent overvalued

Aussie bank stocks are the dearest in the developed world, according to Barrenjoey. It’s no wonder retail investors are heading for the exits.

22.11.2024 10

Financial Review

Christopher Joye

Heed the alarming writing on the wall left by bond bandits

Equity investors are slowly waking up to the risk of Donald Trump returning to the White House.

01.11.2024 10

Financial Review

Christopher Joye

US election will drive long-term Aussie interest rates

Markets should keep a close eye on where yields land after Donald Trump or Kamla Harris claim victory on November 5, writes Christopher Joye.

25.10.2024 5

Financial Review

Christopher Joye

Hopes for a soft landing remain heroic

Government spending crowding out private sector activity means that inflation and interest rates are likely to remain high.

18.10.2024 4

Financial Review

Christopher Joye

RBA blowing financial stability bubble

Household leverage has declined in the US and Europe, but the lax approach of Australia’s central bank has fuelled a record increase in household...

11.10.2024 40

Financial Review

Christopher Joye

Trading regulatory risk in the $40b hybrid sector

Investors are puzzling over what to do with their hybrids following APRA’s proposal to phase out the sector.

04.10.2024 5

Financial Review

Christopher Joye

Rate cuts herald risky new regime

Financial markets have entered a dangerous new economic environment defined by unusually elevated uncertainty after the US Federal Reserve’s pivot...

20.09.2024 4

Financial Review

Christopher Joye

Why is APRA trying to blow up the hybrid market?

The prudential watchdog wants to boost bank leverage and raise the risks depositors and taxpayers face in the name of ameliorating its regulatory...

13.09.2024 4

Financial Review

Christopher Joye

Is private credit becoming the next subprime crisis?

Investors need to consider whether they are getting sufficient additional returns for the risks that debts issued by unregulated non-bank lenders...

06.09.2024 5

Financial Review

Christopher Joye

Beware the threat of reaccelerating inflation in 2025

It is awfully hard beating inflation out of the system without a real recession. Most soft landings have ended up triggering even higher interest...

30.08.2024 10

Financial Review

Christopher Joye

Lower inflation could pressure RBA to cut rates

Very low inflation readings in the coming months will change the interest rate debate.

23.08.2024 6

Financial Review

Christopher Joye

Arrogant RBA boss should stop trying to muffle opponents

The haughty deputy governor of the Reserve Bank should focus on ensuring the central bank does not once again become a false prophet, writes...

16.08.2024 8

Financial Review

Christopher Joye

The Reserve Bank of Australia’s credibility is shot

The central bank’s hawkish pivot has no credibility given it is not willing to do the bare minimum and raise interest rates in line with global...

09.08.2024 10

Financial Review

Christopher Joye

If the RBA was doing its job, it would immediately lift rates

A hot inflation figure on Wednesday would show we are in the grip of a structurally persistent crisis which has been underestimated in three of the...

26.07.2024 8

Financial Review

Christopher Joye

Fed on track to cut rates as US economy teeters on brink of recession

The “Sahm rule” suggests the US may be near a recession, and any sharp increase in unemployment will likely be met by aggressive Fed rate cuts.

12.07.2024 10

Financial Review

Christopher Joye

Best investments of the past financial year, ranked by risk

Among the higher risk asset classes, global shares did very well, and gold even better. But the king of 2024 was bitcoin.

05.07.2024 10

Financial Review

Christopher Joye

RBA forced into a humiliating rate-raising cycle

In a huge embarrassment for the central bank, its next move in interest rates should be higher, not lower, writes Christopher Joye.

28.06.2024 10

Financial Review

Christopher Joye

Attention investors: the risk of a sovereign debt crisis is back

Politicians spending more today just results in higher interest rates for all.

21.06.2024 10

Financial Review

Christopher Joye

Profligate public spending amplifies inflation crisis

Financial markets might spit the dummy and unilaterally impose a much higher long-term cost of capital on everyone.

14.06.2024 5

Financial Review

Christopher Joye

Opportunities aplenty for yield buyers

There is a rich array of opportunities available for investors searching for relatively safe and liquid yields.

31.05.2024 20

Financial Review

Christopher Joye

Kiwis outplay Aussies in monetary policy game

The New Zealand central bank has given its Australian equivalent a dancing lesson in political independence.

24.05.2024 20

Financial Review

Christopher Joye

RBA’s credibility at risk as central banks confront interference

Alleging neutrality while considering lifting rates seems contradictory.

10.05.2024 60

Financial Review

Christopher Joye

Central bank independence is dead

Politicians are compromising central banks’ commitments to price stability targets, and the ensuing sticky inflation will require a much tougher...

03.05.2024 30

Financial Review

Christopher Joye

You heard right – the RBA could raise rates again

The Reserve Bank of Australia will likely be forced to warn that it could raise rates again.

26.04.2024 10

Financial Review

Christopher Joye

Business bankruptcies are at a 25-year high and that’s very bad news

In total 1131 businesses went bust in the month, which was the largest number since ASIC started collecting these statistics in 1999, writes...

19.04.2024 40

Financial Review

Christopher Joye

Inflation shocks bond bandits

The spike in US inflation has caught equity and debt investors napping.

12.04.2024 30

Financial Review

Christopher Joye

Next US inflation print could make or break 2024

Investors in aggressively long equities, real estate, junk bonds and private debt have been fervently punting on the likelihood of deep rate cuts...

05.04.2024 10

Financial Review

Christopher Joye

Central banks may be repeating their pandemic errors

Central banks delayed rate increases after the pandemic on the basis they could not forecast the future, but now use rubbery projections to...

22.03.2024 6

Financial Review

Christopher Joye

The world war for talent

As myopic states take more and more from their most successful citizens, others aspire to attract the best and brightest in a quest for intellectual...

01.03.2024 9

Financial Review

Christopher Joye

Macquarie secures record demand for bonds

Investors are retreating from illiquid assets in favour of high-yielding bank bonds.

23.02.2024 10

Financial Review

Christopher Joye

Where mortgage stress is on the rise

For all the back-slapping about the absence of a recession and assuredness around a soft landing, this cycle is not yet over.

16.02.2024 7

Financial Review

Christopher Joye

Delays in rate relief highlight uncertainty

Markets are once again being forced to defer the timing of the first interest rate cuts.

09.02.2024 10

Financial Review

Christopher Joye

Why you should ‘nowcast’ to get the best returns

The key to investment success is focusing on optimising the present rather than big speculative bets.

24.01.2024 10

Financial Review

Christopher Joye

This is what’s got to change before rates are cut

A stubbornly high inflation measure could scupper hopes of early interest rate relief.

19.01.2024 30

Financial Review

Christopher Joye

Sticky inflation in America signals risks

The latest US inflation data calls into question market expectations for heavy interest rate cuts this year.

12.01.2024 30

Financial Review

Christopher Joye

Volatility brings opportunity in bonds

Bond issuers’ nervousness about the acute macroeconomic and geopolitical risks has resulted in a flood of supply in the first week of 2024.

05.01.2024 30

Financial Review

Christopher Joye

Future for house prices hinges on what the RBA does next

As we move into the new year, the bellwether markets of Melbourne and Sydney are falling.

27.12.2023 30

Financial Review

Christopher Joye

Why you should be sceptical of the market rally

Investors are ignoring geopolitical risks and have swallowed the “immaculate disinflation” thesis hook, line and sinker.

23.12.2023 30

Financial Review

Christopher Joye

New Zealand’s recession is a warning for the rest of world

While markets are rejoicing about the prospect of lower interest rates next year, stagflation across the ditch points to very different possibilities.

15.12.2023 70

Financial Review

Christopher Joye

Developing the alpha edge - three funds management success stories

With the advent of the $3.5 trillion in compulsory savings via superannuation, Australia has become a breeding ground for some of the best investment...

08.12.2023 10

Financial Review

Christopher Joye

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