@tony75 As you know, I shorted the silly US Fed bubble late...

@tony75 As you know, I shorted the silly US Fed bubble late 2021. I am actually mostly long US equities now, against increasing short Aussie equity positions here. People have massively under estimated the lag effect of Aussie interest rate rises, via both normal monetary lag and the protection that 2020/21 fixed rates provided. 2023/24 going to be pretty crap financially for an awful number of Australians alas....

Reading some broker reports on Aussie banks, and they are almost ignoring rapidly slowing new loan growth for NIM improvements.

Over $300 billion (i.e. 15%) of fixed rate mortgages expire in 2023. On an average Aussie mortgage that's some $1,500 a month needing to be paid to the big four. That's going to hit travel demand. Its like people learnt nothing from the GFC only 15 years ago.