| Indicator | Latest | Date | Change | Status | Rule result |
|---|---|---|---|---|---|
| Australia: economy, prices & rates heating 10 · steady 23 · cooling 9 · stress 2 | |||||
| Unemployment rate | 4.6% | Aug 2026 | +0.4pp over 1y | COOLING | 3-mo avg 4.50%: +0.33pp vs prior-12m low, +0.23pp y/y |
| Underemployment & underutilisation | 6.2% | Aug 2026 | +0.5pp over 1y | COOLING | underemployment +0.5pp y/y |
| Youth (15-24) unemployment rate | 10.8% | Aug 2026 | +1.1pp over 1y | COOLING | +1.1pp y/y |
| Hours worked & employment growth (y/y) | 1.0% | Aug 2026 | -0.3pp over 1y | STEADY | trend hours +1.0% y/y |
| Employment-to-population ratio | 63.9% | Aug 2026 | -0.1pp over 1y | STEADY | -0.1pp y/y |
| Job vacancies ('000) | 325 '000 | Q3 2026 | -1.4% over 1y | STEADY | -1.4% y/y; vacancies/labour force 2.1% |
| Wage Price Index (y/y) | 3.2% | Q2 2026 | -0.2pp over 1y | STEADY | 3.2% y/y |
| Unit labour costs & productivity (y/y) | 3.5% | Q2 2026 | -1.2pp over 1y | STEADY | ULC 3.5% y/y; productivity -0.3% |
| Trimmed mean CPI (y/y) | 3.6% | Aug 2026 | +0.1pp over 3m | HEATING | monthly trimmed mean 3.6% y/y (quarterly 3.6% to Jun 2026) |
| Headline CPI (y/y) | 4.0% | Aug 2026 | +0.0pp over 3m | HEATING | 4.0% y/y |
| Services vs goods inflation (y/y) | 3.7% | Aug 2026 | +0.0pp over 3m | STEADY | services 3.7%, goods 4.2% y/y |
| Rents, insurance & electricity (y/y) | 3.6% | Aug 2026 | +0.0pp over 3m | STEADY | rents 3.6%, insurance 5.6%, electricity 13.2% y/y |
| Consumer inflation expectations (1y ahead) | 4.9% | Q3 2026 | +0.2pp over 1y | STEADY | 4.9% |
| Cash rate & real cash rate | Cash 4.60% (2026 13 Oct) | Aug 2026 | +0.2pp over 1y | STEADY | cash 4.60% minus trimmed mean = +0.75pp |
| AGS 3y & 10y yields | 4.93% | 2026 7 Oct | +51bp over 3m | HEATING | 3y 4.93% (+51bp 3m); 10y 5.40%; 10y-3y +47bp |
| AGS 10y-3y curve | +0.47 pp | 2026 7 Oct | +4bp over 3m | STEADY | +47bp |
| AGS indexed bond (real) yield | 3.00% | 2026 7 Oct | +48bp over 3m | COOLING | 3.00% |
| 3m BBSW minus cash rate (funding proxy) | +0.16 pp | 2026 13 Oct | +4bp over 3m | STEADY | +16bp |
| BBB corporate spread to AGS (5y) | 1.09 pp | Aug 2026 | +14bp over 3m | HEATING | spread at 8th percentile of trailing 10 years |
| Housing credit growth (y/y) | 7.3% | Aug 2026 | +1.2pp over 1y | COOLING | y/y 7.3%, 3-mo annualised 6.2% (-1.1pp vs y/y) |
| Investor housing credit growth (y/y) | 9.6% | Aug 2026 | +2.6pp over 1y | COOLING | y/y 9.6%, 3-mo annualised 6.2% (-3.4pp vs y/y) |
| Business credit growth (y/y) | 10.9% | Aug 2026 | +1.1pp over 1y | HEATING | y/y 10.9%, 3-mo annualised 12.7% (+1.8pp vs y/y) |
| Mortgage rates (variable) | 6.20% | Aug 2026 | +70bp over 1y | STEADY | outstanding OO variable 6.20% minus trimmed mean = +2.60pp (Aug 2026) |
| New housing loan commitments (A$bn/qtr) | 97.6 A$bn | Q2 2026 | +6.8% over 1y | STEADY | +6.8% y/y; investor +8.1% |
| Non-ADI (non-bank) share of new housing loans | 10.7% | Q2 2026 | +3.8pp over 1y | HEATING | 10.7% (+3.8pp y/y) |
| Mean dwelling price (y/y) | 6.8% | Q2 2026 | -3.2pp over 3m | STEADY | +6.8% y/y; mean price A$1,100k |
| Private dwelling approvals ('000/month) | 17.9 '000 | Aug 2026 | +4.7% over 6m | STEADY | trend +4.7% over 6m |
| Dwelling commencements & completions ('000, 4-qtr sum) | 204 '000 | Q2 2026 | +13.2% over 1y | HEATING | commencements 204k (+13.2% y/y); completions 180k; under construction 248k |
| Household spending (nominal, y/y) | 6.8% | Aug 2026 | +2.1pp over 1y | STEADY | nominal 6.8%, approx real +2.8% (Aug 2026); discretionary 7.2% |
| Household saving ratio | 6.5% | Q2 2026 | +0.6pp over 1y | STEADY | 6.5% (+0.6pp y/y) |
| Real GDP & GDP per capita (y/y) | 0.7% | Q2 2026 | +0.3pp over 1y | STEADY | per capita +0.7%, total +2.1% y/y |
| NAB business conditions | -4.0 net bal. | Sep 2026 | -3.8 over 3m | COOLING | -4.0 |
| Westpac-MI consumer sentiment | 80.4 | Oct 2026 | -3.5 over 3m | COOLING | 80.4 |
| Companies entering external administration (ASIC Series 1) | 1808 count/mo | Aug 2026 | 3-mo sum +16% y/y | COOLING | 3-mo sum 4355 (+16% y/y); construction 3-mo 1457 (+54% y/y) |
| Terms of trade (index) | 94.8 | Q2 2026 | -0.5% over 1y | STEADY | -0.5% y/y |
| RBA commodity price index | 106.6 | Sep 2026 | +6.6% over 1y | STEADY | A$ +6.6% y/y; US$ +15.2% |
| Iron ore (US$/t) | 98 US$ | Sep 2026 | -5.4% over 1y | STEADY | -5.4% y/y |
| Thermal coal, Newcastle (US$/t) | 147 US$ | Sep 2026 | +38.4% over 1y | HEATING | +38.4% y/y |
| LNG, Japan import price (US$/mmbtu) | 14.25 US$ | Sep 2026 | +24.2% over 1y | HEATING | +24.2% y/y |
| Gold (US$/oz) | 4,319 US$ | Sep 2026 | +17.7% over 1y | HEATING | +17.7% y/y |
| AUD: US$ and trade-weighted index | 0.7002 US$ | 2026 14 Oct | +0.3% over 3m | STEADY | AUD/USD 0.7002; TWI 65.0 (-0.5% 3m) |
| Listed private-credit trusts: price vs NTA | 1.620 A$ | 2026 14 Oct | -10.0% over 1m | STRESS | MXT 1.620 vs NTA 1.962 (-17.4%); MOT 1.465 vs NTA 1.935 (-24.3%); MRE 1.400 vs NTA 2.22 (-36.9%) |
| ASX 200 and financials | 8,728 | 2026 14 Oct | -0.8% over 3m | STEADY | -5.9% vs 52-week high |
| ASX 200 A-REITs | 3,267 | 2026 14 Oct | -8.8% over 3m | STRESS | -22.9% vs 52-week high |
| Australia: RBA Chart Pack highlights heating 0 · steady 2 · cooling 2 · stress 0 | |||||
| Housing loan payments to disposable income | 9.4% | Q1 2026 | -0.5pp over 1y | COOLING | 9.4% vs 10y avg 8.3% |
| Broad money and M1 growth (y/y) | 6.9% | Aug 2026 | +0.1pp over 1y | STEADY | broad money 6.9%, M1 6.5% y/y |
| Real wage growth (WPI minus CPI, y/y) | -0.7 pp | Q2 2026 | -2.0pp over 1y | COOLING | WPI 3.2% minus CPI 3.9% |
| Longer-term inflation expectations | 2.5% | Q3 2026 | -0.1pp over 1y | STEADY | economists 2.5%, 10y break-even 2.4% |
| China heating 2 · steady 7 · cooling 1 · stress 2 | |||||
| Credit impulse (BIS, % of GDP) | 0.9 % GDP | Q1 2026 | +1.6pp over 1y | STEADY | total non-fin +0.9pp; private -1.1pp of GDP |
| NBS manufacturing PMI | 50.1 | Sep 2026 | -0.2 over 3m | STEADY | 50.1 |
| NBS non-manufacturing PMI | 50.2 | Sep 2026 | +0.0 over 3m | STEADY | 50.2 |
| CPI (y/y) | 0.8% | Aug 2026 | -0.4pp over 3m | STEADY | +0.8% y/y |
| Producer prices (y/y) | 3.8% | Aug 2026 | -0.1pp over 3m | HEATING | +3.8% y/y |
| Industrial production & retail sales (y/y) | 5.2% | Aug 2026 | +0.7pp over 3m | STEADY | IP +5.2%, retail sales +0.4% y/y |
| Property: starts, sales & investment (YTD y/y) | -24.8% | Aug 2026 | -2.2pp over 3m | STRESS | starts -24.8%, sales -13.0%, investment -19.9% YTD y/y |
| 70-city new home prices (avg y/y) | -3.3% | Aug 2026 | +0.4pp over 3m | STRESS | -3.3% y/y; -0.17% m/m; 48 of 70 cities falling m/m |
| Exports (US$, 3-mo y/y) | 25.2% | Aug 2026 | +13.3pp over 3m | HEATING | 3-mo exports +25.2% y/y |
| China 10y government bond yield | 1.69% | Aug 2026 | -15bp over 1y | STEADY | 1.69% (-15bp y/y) |
| USD/CNY | 6.6917 CNY | 2026 14 Oct | -1.2% over 3m | STEADY | 6.6917 (-1.2% 3m) |
| Shanghai Composite & Hang Seng China Enterprises | 8,183 | 2026 14 Oct | +0.6% over 3m | COOLING | -14.8% vs 52-week high |
| Japan heating 2 · steady 7 · cooling 0 · stress 1 | |||||
| BoJ policy rate | 1.25% | 2026 6 Oct | +0.8pp over 1y | HEATING | 1.25% (+0.75pp y/y) |
| JGB 2y & 10y yields | 3.019% | 2026 13 Oct | +30bp over 3m | HEATING | 10y 3.019% (+30bp 3m); 2y 1.928% |
| JGB 30y yield | 4.064% | 2026 13 Oct | +20bp over 3m | STEADY | 4.064% (-1bp 1m, +20bp 3m) |
| USD/JPY | 158.15 JPY | 2026 14 Oct | +1.6% over 1m | STEADY | 158.15 (+1.6% 1m, -2.6% 3m) |
| AUD/JPY | 110.74 JPY | 2026 14 Oct | +0.1% over 1m | STEADY | 110.74 (+0.1% 1m, -2.3% 3m) |
| Japan CPI (y/y) | 1.9% | Jul 2026 | +0.6pp over 3m | STEADY | 1.9% y/y |
| Japanese net buying of foreign bonds (13-wk sum, ¥tn) | -1.8 ¥tn | 2026 3 Oct | latest week -0.35tn | STEADY | -1.8tn over 13 wks (22th pct) |
| Foreign net buying of Japanese equities & bonds (13-wk, ¥tn) | -3.2 ¥tn | 2026 3 Oct | latest week equities +2.19tn | STRESS | equities -3.2tn, long-term debt +0.8tn over 13 wks (9th pct) |
| Nikkei 225 | 67,744 | 2026 14 Oct | +5.6% over 3m | STEADY | -6.4% vs 52-week high |
| Japan exports (US$, 3-mo y/y) | 9.8% | Aug 2026 | +4.6pp over 3m | STEADY | 3-mo exports +9.8% y/y |
| Asia region: policy, inflation & yields heating 4 · steady 2 · cooling 1 · stress 0 | |||||
| Korea exports (US$, 3-mo y/y) | 67.5% | Aug 2026 | +17.1pp over 3m | HEATING | 3-mo exports +67.5% y/y |
| Asia-5 exports (US$, 3-mo y/y) | 27.1% | Aug 2026 | +12.3pp over 3m | HEATING | 3-mo exports +27.1% y/y |
| TAIEX & KOSPI (semiconductor cycle proxy) | 48,626 | 2026 14 Oct | +81.5% over 1y | HEATING | TAIEX +81% 12m (-2.4% vs 52w high); KOSPI +69% 12m |
| OECD business confidence (PMI substitute) | 99.81 | Aug 2026 | +0.0 over 3m | STEADY | CN/JP/KR avg 99.81; China 98.4 (Aug), Japan 101.7 (Sep), Korea 99.4 (Sep), Australia 99.9 (Aug), US 100.3 (Sep), Indonesia 99.0 (Jun) |
| Asian FX basket vs USD (8 currencies, equal weight) | 95.7 | 2026 14 Oct | +1.5% over 3m | STEADY | +1.5% 3m; worst 3m: KRW +10.3%, TWD -0.0%, INR +1.2%, IDR +1.1%, SGD +1.0%, THB -0.1%, MYR -0.1%, PHP -1.8% |
| Policy rates: Korea, India, Indonesia, China + AU, JP, US | 3.00% | 2026 28 Aug | +50bp over 6m | HEATING | 6m: cut none; hiked KR, ID, JP, AU, US; KR 3.00, IN 5.25, ID 5.75, CN 3.00, JP 1.25, AU 4.60, US 3.88 |
| Hang Seng Index | 24,314 | 2026 14 Oct | -1.0% over 3m | COOLING | -13.1% vs 52-week high |
| US economy, rates & global credit heating 8 · steady 18 · cooling 3 · stress 3 | |||||
| Fed funds & real fed funds | FF 3.88%, real +0.62pp | Aug 2026 | -0.9pp over 1y | STEADY | effective 3.88% (12 Oct); real +0.62pp (Aug 2026); +24bp over 6m |
| US Treasury 2y & 10y | 5.24% | 2026 9 Oct | +68bp over 3m | HEATING | 10y 5.24% (+68bp 3m); 2y 4.80% |
| US 2s10s curve (10y minus 2y) | +0.42 pp | 2026 13 Oct | +1bp over 3m | STEADY | +42bp |
| US 10y real yield (TIPS) & breakeven | 2.91% | 2026 9 Oct | +59bp over 3m | COOLING | real 2.91%, breakeven 2.33% |
| Broad trade-weighted US dollar | 121.6 | 2026 9 Oct | +0.9% over 3m | STEADY | +0.9% 3m, +0.4% 12m |
| SOFR minus IORB (repo funding pressure, bp) | -3 bp | 2026 9 Oct | +7bp over 3m | STEADY | latest -3bp, 5-day avg -1.8bp; ON RRP US$0bn |
| US high-yield & IG corporate spreads (OAS) | 3.11% | 2026 12 Oct | +40bp over 3m | HEATING | HY 3.11%, IG 0.83% (HY at 57th pct of available history) |
| Asia USD corporate & EM high-yield spreads | 0.90% | 2026 12 Oct | +6bp over 3m | STEADY | Asia corp OAS at 32th percentile of trailing 10 years |
| BDC index ETF (BIZD): listed US private-credit proxy | 12.02 US$ | 2026 13 Oct | -6.5% over 3m | STRESS | -20.1% vs 52-week high |
| Chicago Fed NFCI & St Louis stress index | -0.49 | 2026 2 Oct | +0.0 over 3m | HEATING | NFCI -0.49; STLFSI -0.47 |
| VIX | 15.2 | 2026 12 Oct | -2.0 over 1m | STEADY | 15.2 |
| US banks tightening C&I lending standards (net %) | +0.0 net % | Q3 2026 | -9.5 over 1y | STEADY | +0.0 net % tightening |
| US bank C&I loans (y/y) | 10.0% | Sep 2026 | +13.1pp over 1y | COOLING | y/y 10.0%, 3-mo annualised 8.8% (-1.2pp vs y/y) |
| US core PCE & CPI inflation (y/y) | 3.0% | Aug 2026 | -0.2pp over 3m | HEATING | core PCE 3.0%, CPI 3.4% |
| US unemployment rate & Sahm rule | 4.2% | Sep 2026 | -0.2pp over 1y | STEADY | 3-mo avg 4.13%: +0.00pp vs prior-12m low, -0.10pp y/y; FRED SAHMREALTIME 0.00 |
| US initial jobless claims (4-wk avg, '000) | 198 '000 | 2026 3 Oct | -15.4% over 1y | HEATING | 198k (-15.4% y/y) |
| Fed balance sheet (US$tn) | 6.75 US$tn | 2026 7 Oct | +2.4% over 1y | STEADY | US$6.75tn (+2.4% y/y) |
| Brent crude (US$/bbl) | 125.4 US$ | 2026 6 Oct | +87.0% over 1y | HEATING | US$125.4 (+87.0% y/y) |
| US hours worked: average weekly hours & aggregate hours index (private) | 34.4 hrs | Sep 2026 | +0.2 over 1y | STEADY | avg hours 34.4; hours index +0.9% y/y |
| US temporary help services employment (m) | 2.49 m | Sep 2026 | +0.6% over 1y | STEADY | 2.49m (+0.6% y/y) |
| US initial claims (4-wk avg): % above 12-month low | 0.0% | 2026 3 Oct | 4-wk avg 198k | STEADY | 4-wk avg 198k, 0.0% above 12m low |
| US continuing claims (m) | 1.72 m | 2026 26 Sep | -10.7% over 1y | HEATING | 1.72m (-11.0% y/y) |
| US JOLTS hires and quits rates (%) | 3.3% | Aug 2026 | +0.1pp over 1y | COOLING | hires 3.3%, quits 1.9% (Aug 2026); Sahm real-time 0.00 (Sep 2026) |
| US Treasury withheld income & employment taxes (20-day sum, % y/y) | +4.2% | 2026 9 Oct | STEADY | +4.2% y/y vs 1y avg +4.0%, CPI 3.4% | |
| US hires as % of the civilian population (JOLTS) vs labour-force participation | 1.89% | Aug 2026 | +0.0pp over 1y | STEADY | hires 1.89% of population (3m avg 1.90%); participation 61.8% |
| US core PCE vs Dallas Fed trimmed-mean PCE inflation (y/y %) | 2.19% | Aug 2026 | -0.7pp over 1y | STEADY | trimmed mean 2.19% vs core 3.01% y/y |
| US high-yield OAS vs CCC-and-below OAS (%) | 12.53% | 2026 12 Oct | +284bp over 3m | STRESS | CCC 12.53% vs HY 3.11% |
| US leveraged-loan ETF prices: FLBL and BKLN (US$) | 22.70 US$ | 2026 13 Oct | -1.2% over 3m | STRESS | FLBL $22.70, -6.2% vs 3-month high |
| USD credit to non-banks outside the US (y/y) | 7.3% | Q1 2026 | +2.1pp over 1y | STEADY | +7.3% y/y |
| Credit-to-GDP gaps (BIS, pp) | -9.7 pp | Q1 2026 | +3.8pp over 1y | HEATING | Japan +5.7; China -5.1; Australia -9.7; US -11.3; Korea -15.1; Euro area -17.1 (highest: Japan) |
| Private-sector debt service ratios (BIS, % of income) | 20.3% | Q1 2026 | -0.3pp over 1y | STEADY | AU 20.3% vs 10y avg 19.5%; China 19.1, Japan 15.5, US 13.8, Korea 19.3 |
| Private credit impulse (BIS, % of GDP) | 0.2 % GDP | Q1 2026 | -2.2 over 1y | STEADY | Australia +0.2, US +2.8, Japan +7.0, Korea +0.2 |
| US dollar funding & liquidity heating 2 · steady 6 · cooling 0 · stress 0 | |||||
| Repo vs IORB: SOFR, TGCR and SOFR 99th percentile (bp) | -3 bp | 2026 9 Oct | +7bp over 3m | STEADY | SOFR 3.87%, TGCR 3.85%, BGCR 3.85%; SOFR-IORB 5d -1.8bp, p99 5d +6.2bp |
| Primary dealer Treasury fails (deliver + receive, ex-TIPS, US$bn/week) | 260.0 US$bn | 2026 30 Sep | -18.8% over 1y | HEATING | fails to deliver US$130.7bn + receive US$129.3bn (wk 30 Sep); 4-wk avg 1.7x the 3-yr median |
| Fed overnight repo operations incl. Standing Repo Facility (US$bn/day) | 0.0 US$bn | 2026 13 Oct | +0.0 over 3m | STEADY | latest US$0.0bn; 20-day max US$1.2bn (30 Sep); H.4.1 repo (Wed) US$0.0bn |
| Fed central bank liquidity swaps outstanding (US$bn) | 0.21 US$bn | 2026 7 Oct | +0.2 over 1y | STEADY | US$207m outstanding (peaks: US$583bn Dec-2008, US$449bn May-2020) |
| Discount window: primary & secondary credit (US$bn) | 9.96 US$bn | 2026 7 Oct | +2.8 over 1y | HEATING | primary US$9.96bn (3-yr median 4.69bn); secondary US$0m |
| Near-term forward spread: 3m rate 18m ahead minus 3m bill (bp) | +85 bp | 2026 9 Oct | +50bp over 3m | STEADY | +85bp (09 Oct); 18m-ahead 3m forward 5.10% |
| US Treasury curve: 10y-3m and 10y-2y (pp) | +0.95 pp | 2026 13 Oct | +22bp over 3m | STEADY | 10y-3m +0.95pp, 10y-2y +0.42pp (13 Oct) |
| Copper/gold ratio (x1000) vs US 10y yield | 1.62 ratio | 2026 14 Oct | +35.1% over 1y | STEADY | 1.62 (copper US$6.73/lb, gold US$4,166/oz); +3.9% over 3m |
| Credit risks: where the spend is going heating 7 · steady 3 · cooling 1 · stress 0 | |||||
| How fast is US data-centre and power construction growing? ($bn, annual rate) | 85 $bn | Aug 2026 | +73.2% over 1y | HEATING | data centres $85bn SAAR, +73% y/y |
| Is US electricity demand rising with the data-centre build? (12-month sales, % y/y) | +3.1% | Jul 2026 | all sectors +1.2% | HEATING | commercial +3.1% y/y, all sectors +1.2% |
| Is US chip production keeping up? Semiconductor output (index 2017=100) | 190.1 | Aug 2026 | +12.4% over 1y | HEATING | 190.1 (+12.4% y/y) |
| How much of their operating cash are the big five spending on capex? (TTM capex ÷ OCF, %) | 82% | Q2 2026 | +21.0pp over 1y | HEATING | 82% (Q2 2026); free cash flow $126bn TTM |
| Are investors being paid for credit risk? US corporate spreads by rating (bp) | 102 bp | 2026 12 Oct | +5bp over 3m | STEADY | BBB 102bp, 39th percentile of 3 years |
| Is stress building in the weakest borrowers? CCC minus BB spread (bp) | 1065 bp | 2026 12 Oct | +258bp over 3m | STEADY | 1065bp vs 3-year median 717bp |
| Are banks funding private credit? US bank loans to non-bank financial institutions (% y/y) | +19.5% | 2026 30 Sep | -35.6pp over 1y | HEATING | +19.5% y/y; level $2.08tn |
| Are private-credit loans being marked down? BDC portfolios: fair value as % of cost | 98.9% | Q2 2026 | latest 10-Q | STEADY | median 98.9%; Ares Capital 98.9%, Blue Owl Capital Corp 99.0%, Blackstone Secured Lending 96.4%, FS KKR 90.6%, Main Street 115.5% |
| Do investors believe BDC valuations? Share price as % of last reported NAV | 93% | 2026 13 Oct | -2.7pp over 1y | COOLING | median 93% of NAV (2026 13 Oct) |
| Is Australian business investment growing? Private new capex, chain volume (A$bn/qtr) | 51.0 A$bn | Q2 2026 | +10.7% over 1y | HEATING | A$51.0bn (+10.7% y/y) |
| Which Australian industries are borrowing fastest? Bank business credit by industry (% y/y) | +22.6% | Aug 2026 | +6.2pp over 1y | HEATING | financial & insurance +22.6% y/y |
| Flow source | Dashboard chart(s) | Coverage |
|---|---|---|
| ETF / fund flows | SPY creations, 3x Nasdaq-100 flows, ETF shares outstanding index | covered |
| Retirement-plan default contributions | gap: no free timely series (401(k)/target-date flows are only in annual or lagged ICI/Fed data) | |
| Benchmark / index changes | Top-10 weight in SPY, Cap- vs equal-weight | partial: concentration only, no rebalance or add/delete calendar |
| Model portfolios | gap | |
| CTAs (trend followers) | gap: no free positioning estimate (CFTC COT could be a proxy) | |
| Vol-control funds | VIX | partial: volatility level only, no exposure estimate |
| Risk parity | Implied correlation | partial: correlation context only |
| Leveraged-ETF resets / rebalancing | Single-stock leveraged ETF rebalancing vs volume, Single-stock leveraged ETF flows, 3x Nasdaq-100 assets, Leveraged ETF snapshot | covered |
| Dealer hedging (options gamma) | Dispersion index | gap for gamma itself (no free dealer-positioning data); dispersion as context |
| Date | Theme | What happened | Market channel to Australia/Asia | Source |
|---|---|---|---|---|
| 2026 7–11 Oct | Middle East / energy shipping | Hormuz escalation moved to the bypass route: on 7 Oct Iran said it would close the 'illegal' southern route hugging Oman's coast, and a tanker was hit by 'multiple projectiles' off Qatar (~500km west of the strait). On 9-10 Oct the IRGC said it struck the LPG carrier NV Sunshine on that route, and UKMTO reported a projectile fire on the crude tanker GEM NO2 off the UAE. Trump said on 8 Oct the US will not attack Iran before the 3 Nov midterms. On 11 Oct Iran's security council head called the latest US response 'insufficient'. Brent futures settled US$104.72 on 9 Oct (US$100.20 on 7 Oct). | Brent and oil-linked Asian LNG prices; Australian fuel inflation and so the RBA; LNG export receipts; Asian importers' terms of trade | The Guardian, 2026 8 Oct Asharq Al-Awsat / AFP, 2026 10 Oct |
| 2026 6–8 Oct | Middle East / energy shipping | Strait of Hormuz: tanker attacks hit their highest weekly level since the Iran war began (2026 28 Feb). Only seven commodity vessels transited on 6 Oct (lowest since 23 Jul), and crude through the strait fell to ~10.1 mb/d, 74% of pre-war (Kpler). Gulf exports rerouted via the Gulf of Oman and the Red Sea kept total Middle East crude exports near pre-war levels. | Brent and oil-linked Asian LNG prices; Australian fuel inflation (and so the RBA); LNG export receipts; Asian importers' terms of trade | The National / Reuters, 2026 8 Oct |
| 2026 10 Oct | Fuel security / Russia | Trump announced a deal for Russia to supply 300,000 tons of diesel to the US and global markets immediately, then 500,000 tons in November, rising later to 3m tons. Energy Minister Bowen said Australia does not 'need or want' Russian fuel and will not change its approach. Australia holds 43 days of petrol and 31 days of diesel, with 51 fuel ships en route and 3.2bn litres contracted over the next four weeks. | Global diesel supply and margins; Australian diesel and freight costs (CPI automotive fuel, and so the RBA); mining and farm input costs; friction with US sanctions policy | The Guardian, 2026 10 Oct ABC News, 2026 10 Oct |
| 2026 27 Sep – 5 Oct | US-China trade | After Xi's 24-25 Sep state visit to Washington, the US and China released '30-for-30' Board of Trade lists: reciprocal tariff cuts (mostly to MFN) on ~US$30bn of goods each way. Officials say cuts are not immediate (US Section 301 notice-and-comment first). The Kuala Lumpur tariff truce was extended from 2026 10 Nov to 2027 10 Jan. China's list includes US coal. | CNY, China export growth, iron ore sentiment, AUD; US coal gaining access to China competes with Australian coal | Covington, 2026 5 Oct Caixin, 2026 1 Oct |
| 2026 8 Oct | China-Australia trade (iron ore) | Fortescue's September-quarter update: cash fell 37% to $3.2bn (from $5.1bn) and net debt rose to $2.8bn (from $0.9bn). Shipments were 46.8 Mt (-6% y/y, port maintenance) and sales 42.9 Mt. FY27 shipment, cost and capex guidance is held but 'subject to' negotiations with China's state buyer CMRG, which earlier this year told some mills not to take Fortescue's flagship product. BHP settled its own CMRG standoff in April 2026. | Iron ore pricing power shifting toward Chinese buyers; Pilbara volumes and margins; budget mining receipts; AUD | Mining Weekly / Reuters, 2026 8 Oct |
| 2026 9 Oct | Japan politics / BoJ | The Takaichi cabinet approved and submitted its bill to cut the consumption tax on food and drink from 8% to 1% for two years from April 2027, plus income-linked payments; ~¥10tn of revenue is lost over two years. The government says no deficit-financing bonds will be used but has not named funding sources (Diet session ends 12 Dec). The BoJ (1.25% after June and September hikes) is expected to hold at its 29-30 Oct meeting, and the Fed is expected to hike on 28 Oct (MUMSS view, 5 Oct). | JGB 10y/30y yields and term premium, yen carry (USD/JPY, AUD/JPY), Japanese demand for foreign bonds including AGS | Kyodo News, 2026 9 Oct MUFG/MUMSS Japan Weekly, 2026 5 Oct |
| 2026 5 Oct | Japan-Australia economic security | Treasurer Chalmers and Finance Minister Katayama signed a memorandum in Tokyo setting up an annual Japan-Australia Finance Ministerial Dialogue. It covers sharing information on investment trends and supply chains (including defence industry), energy security and critical minerals. Japan's only similar finance dialogues are with Korea and China (the China one has not met since August 2018). | Japanese capital inflows into Australian resources, energy and infrastructure; LNG supply security for Japan; critical-minerals financing (e.g. Lynas) as a hedge against China's export controls | The Japan Times / Bloomberg, 2026 6 Oct Japan Ministry of Finance, 2026 5 Oct |
| 2026 6–11 Oct | Taiwan Strait | In the 24 hours to 6am on 10 Oct, Taiwan's MND tracked 21 PLA aircraft sorties (13 crossed the median line), 7 PLAN ships and 2 official ships. This followed a 6 Oct 'joint combat readiness patrol' (14 sorties, 9 across the line). After President Lai's 10 Oct National Day address, Beijing's Taiwan Affairs Office called him a 'pragmatic worker for Taiwan independence'. | Risk premium on TAIEX/semis supply chain (TSMC is ~41% of the TAIEX); regional risk-off hits AUD and Asian FX | Taiwan MND, PLA activity 2026 9–10 Oct (Chinese) Taiwan MND press release, 2026 6 Oct People's Daily / Xinhua, 2026 11 Oct |
| 2026 1–9 Oct | South China Sea | USNI counts at least six dangerous Philippine-China encounters since 1 Oct (Scarborough, Second Thomas Shoal, Spratlys), plus a new front in the Luzon Strait near Batanes, where Taiwan's coast guard shadowed a Chinese survey ship and its escort. On 8 Oct China Coast Guard water cannon and blocking delayed a medical evacuation from BRP Sierra Madre at Second Thomas (Ayungin) Shoal by nearly 10 hours. On 9 Oct Philippine forces pushed a Chinese militia vessel and 22 small boats away from Loaita Island. On 3 Oct a J-16 intercepted a Philippine C-208 over Scarborough. | Shipping-lane risk on Australia's northern trade routes; regional defence spending; risk sentiment | USNI News, 2026 9 Oct GMA News, 2026 9 Oct |
| 25 Sep / 2026 6 Oct | AUKUS / defence | On 6 Oct Anduril and the US Navy announced 'Arsenal-2', a $6.6bn submarine-component yard at Sparrows Point, Maryland ($3.7bn of Anduril's own money plus a Navy contract worth up to $2.9bn), adding ~15% to Virginia-class labour capacity. It is meant to ready production by 2030, starting with torpedo tubes. The aim includes meeting AUKUS sales to Australia in the 2030s. Earlier, after a GAO report on idle US attack subs, Rep. Joe Courtney pointed to Australia's US$8.5bn Henderson (WA) repair investment, and Kurt Campbell warned some at the Pentagon would 'love a stumble' (25 Sep). | AUKUS delivery risk and federal defence spending/fiscal position; WA construction demand; alliance / US-China risk premium | USNI News, 2026 6 Oct Crikey, 2026 25 Sep |
| 14 Mar / 2026 13 Apr | Critical minerals | US-Australia critical minerals framework (signed Oct 2025): at the 2026 14 Mar Tokyo ministerial, each side said it had provided at least US$1bn of financing within 6 months, with support for 11 named projects (Australia $1.4bn, US $2.2bn) and a new Critical Minerals Supply Security Response Group. China's Oct-2025 rare-earth controls remain suspended under the truce now extended to 2027 10 Jan. | ASX rare-earth/critical-mineral miners; China's rare-earth leverage; foreign capital inflow to the resources sector | DISR (Australian Govt), 2026 13 Apr |
| 2026 15 Jul | Iron ore supply (Simandou) | Rio Tinto: SimFer (Simandou) mine construction and port infrastructure more than three-quarters complete; full rail commissioning achieved in Q1 2026. 2026 Simandou sales guidance is 5-10 Mt (100% basis). Pilbara Q2 sales were up 7% y/y. | Medium-term iron ore supply and price (Australia's largest export), Pilbara market share, budget mining receipts | Rio Tinto Q2 2026 production results, 2026 15 Jul |