Research
Australia's 3.5% Consensus: Why a Softer July CPI Still Won't Deliver an RBA Cut
Australia's July CPI may cool, but the RBA's inflation problem is not solved. Sticky core prices keep patience, not easing, as the real trade.
Australia
Research
Blackstone's A$36 Billion Warehouse: Why HSBC's Australian Exit Is a Funding Trade, Not a Housing Bet
Blackstone's A$36 billion HSBC loan-book deal looks like a private-credit victory. The real test is the warehouse funding behind it, just as Australia's mortgage cycle cools.
Sports
The Rugby League Premium: Why the NRL's A$5.3 Billion Deal Rewrites Australian Media, Not Just Australian Sport
The National Rugby League just signed the biggest sports broadcast contract in Australian history. The headline is that rugby league has passed the AFL for the first time. The subplot is that Foxtel and Nine paid it at a moment when the linear ad market is cratering, and only one of the two counterp