Just James and Heath this week, and plenty to get through. Ten-year Treasury yields hit their highest level since 2002 before easing back, as PMIs and GDP data point to a genuinely strong global economy rather than just an energy-driven inflation scare. Heath walks through why that's a double-edged sword for markets — good for earnings, bad for the rate outlook — with tonight's US non-farm payrolls print shaping up as the next big catalyst.
Gold's sitting at a real technical and fundamental crossroads: pulled back to around the $4,200 level where it originally broke out, with real rates decoupling from inflation expectations the key thing to watch. Heath still backs the structural case even as the strong US dollar remains a headwind.
Elsewhere: oil bounced on China suspending October fuel exports, reports suggest the US and allies now control somewhere between 80–94% of pre-war Strait of Hormuz oil flow, Micron delivered a stellar beat-and-raise with memory supply tight into 2028, and locally the RBA hiked rates again amid a political slanging match over government spending. Plus a look at Firmus's $5 billion IPO — set to be Australia's largest listing since 1997 — and the usual SmallCaps roundup: Terra Metals, Flagship Minerals, Industrial Minerals, LTR Pharma, and trending names Litchfield Minerals, Lake Resources, Cobalt Blue Holdings, Sky Metals and Impact Minerals.
James also previews a huge run of conferences coming up — the Australian Gold Conference, the MicroCaps Conference in Melbourne, and IMARC — so if you're attending any of them, come say hello.
GOLD Conference Tickets: Bitly | bit.ly/4iFDxqZ
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