This report assesses the global macro-financial environment and its implications for Australia’s financial stability, with a focus on non-bank financial institutions (NBFIs), sovereign debt dynamics in advanced economies and banking sector funding resilience. Despite a rapid recovery in global risk sentiment following volatility in early 2025, underlying vulnerabilities persist, including elevated leverage and liquidity mismatches in parts of the global NBFI sector, rising so

Professionals usually refer to the term “China’s National Team” when describing a group of  state-linked institutions to trade exchange-traded funds that allows authorities to influence broad market segments quickly, reversibly, and with limited formal announcements. For instance, entities such as the Central Huijin Investment Ltd. is backed by the Ministry of Finance - who operates on a large enough scale to move markets but not enough to be opaque to preserve deniability an

“Existence Precedes Essence” Existence Precedes Essence is a core principle of existentialist philosophy - suggesting that human beings are not born with a predefined purpose or nature, instead, they first exist, and only later define themselves through their actions and choices. For most objects, essence precedes existence - for instance, a knife is designed to cut before it is made. Its purpose (essence) therefore comes first. For human beings, life does not possess any inh