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Skeletons in the Closet
- Political instability has returned to Australia in recent months after several Members of Parliament (MPs) have revealed their dual citizenship status. The constitution doesn’t allow dual citizens to sit in parliament and so far, two Senators have resigned and another four have been referred to the High Court to determine their dual citizen status.
- Importantly, the issue has also affected the House where the Coalition has formed Government by a margin of only one seat. Indeed, the High Court will also determine whether National Party member, Barnaby Joyce, can remain in parliament in hearings set for 11 and 12 October.
- At best, the dual citizenship issue is a distraction for a Government that is waning in the polls. At worst, the issue will lead to the collapse of the Government. Indeed, apart from those already implicated, there are twenty-one MPs born in a foreign country.
- Several clients have asked whether a collapse of government due to the dual citizenship issue would put pressure on the Aussie dollar or cause a rally in bond yields. We think it probably wouldn’t, given markets have been unperturbed by several leadership challenges and changes of Government in the past 10 years.
Provider
Macro Strategy Advisors Pty Ltd
About us:
- The business is a Proprietary Limited Australian company that is owned and fully operated by Shane Lee from a small office in Sydney’s CBD.
- Shane worked for 17 years in Sydney-based senior research roles (economist, equity strategist and bond strategist) in global and regional investment banks and a domestic commercial bank prior to starting Macro Strategy Advisors. These roles straddled the asset classes making him uniquely positioned to advise multi-asset investors. He worked for the Reserve Bank of Australia (RBA) for 3 years as a housing, commercial property and equity market analyst and a liquidity forecasting specialist. He worked as a structural engineer in Queensland for 10 years prior to his career at the RBA.
Aim of our business:
- To partner with our clients in their aim to maximise returns. We provide timely, independent and thought-provoking research on thematic macro issues that are impacting or could impact financial markets. We aim to produce research that prompts our clients to question their assumptions.
Services:
- A fortnightly research note.
- Regular presentations and data support delivered by understanding our clients interests and investment process.
- We also in work in confidence to investigate, analyse and report on issues at our clients direction. This work is done on a project-by-project basis.
- As an Australian based business, the main focus is analysing how domestic and global issues impact Australian investors. However, our global and domestic insights are also valued by our offshore clients.
Our Edge:
- Our low cost base relative to our competitors allows us to provide a quality product at a reasonable cost.
- We are fully independent and don’t support a banking function or any third party. We have no interests other than providing our clients with the best possible research.
- Our focus is not point forecasting, but providing rigorous analysis and insight. We don’t routinely focus on the top or bottom 10% of likely outcomes to create a headline.
- Shane’s background in engineering has provided clients with unique insights into global infrastructure and domestic housing issues.
Shane Lee
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