{"id":7486,"date":"2025-12-14T19:10:37","date_gmt":"2025-12-14T19:10:37","guid":{"rendered":"https:\/\/abingdonwealth.com.au\/?p=7486"},"modified":"2025-12-14T19:10:37","modified_gmt":"2025-12-14T19:10:37","slug":"bassanese-bites-8-december-2025","status":"publish","type":"post","link":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/","title":{"rendered":"Bassanese Bites: – 8 December 2025"},"content":{"rendered":"\n

Another hawkish cut?<\/strong><\/p>\n\n\n

The expectation of a third consecutive rate cut from the Fed has held markets up. But in Australia, this week’s labour force report could add fuel to the idea that the RBA may be forced to hike rates in 2026.<\/p>\n\n\n\n
\n

Read or listen to my latest Bite here<\/a>.<\/strong>\u00a0<\/p>\n

David Bassanese<\/strong>
Betashares Chief Economist<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n


\n
\u00a0<\/div>\n<\/div>\n
\n
\u00a0<\/div>\n<\/div>\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Global week in review<\/p>\n

Global equities pushed higher last week, helped by solid US earnings reports and the completion of more major US trade deals.\u00a0<\/p>\n

Trump causes Japan and Europe to blink\u00a0<\/p>\n

Say what you like about US President Donald Trump but he does appear to have secured some fairly good trade deals with both Japan and the European Union \u2013 at least from his perspective. Both major US trading partners have agreed to a 15% tariff on most of their goods imported into the US, along with a commitment to invest billions into the US economy \u2013 and without trade retaliation!<\/p>\n

While this still amounts to a tax on US corporations and\/or households, markets will likely construe these deals as a win for Trump \u2013 major economies are rolling over just to get a deal done so we can all move on with our lives. As I noted last week, to the extent that most trading partners will face similarly stiff tariffs, they should not lose much competitiveness (at least against each other) with regard to selling into the US market.\u00a0<\/p>\n

Reports suggest an updated deal with China is also in the wings.\u00a0<\/p>\n

Is this good news?<\/p>\n

From a markets perspective, all this is great news \u2013 there are good grounds to think that tariff uncertainty will soon be behind us and the overall level of tariffs won\u2019t be enough to tip the US economy into recession.\u00a0<\/p>\n

That said, we do likely face a few months of higher-than-usual US monthly inflation gains (as some of the tariffs are passed through to prices) but markets seem well prepared for this. Provided this remains a one-off hit to the price\u00a0level\u00a0\u2013 and is not entrenched into higher\u00a0inflation\u00a0through a wage-price spiral \u2013 it\u2019s an acceptable outcome for markets.\u00a0<\/p>\n

There will also likely be some hit to US profits and household real incomes, which could temporarily slow economic growth. But the tariff hit is coming at a time of still-resilient US economic growth and easing underlying inflation pressures. Offsetting the tariff hit (to an extent) will be reduced trade uncertainty and the Fed waiting in the wings to cut interest rates further as required.<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[60],"tags":[10],"class_list":["post-7486","post","type-post","status-publish","format-standard","hentry","category-bassanese-bites","tag-format","post-no-thumbnail"],"yoast_head":"\nBassanese Bites: - 8 December 2025 - Abingdon Wealth<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Bassanese Bites: - 8 December 2025 - Abingdon Wealth\" \/>\n<meta property=\"og:description\" content=\"Global week in review Global equities pushed higher last week, helped by solid US earnings reports and the completion of more major US trade deals.\u00a0 Trump causes Japan and Europe to blink\u00a0 Say what you like about US President Donald Trump but he does appear to have secured some fairly good trade deals with both Japan and the European Union \u2013 at least from his perspective. Both major US trading partners have agreed to a 15% tariff on most of their goods imported into the US, along with a commitment to invest billions into the US economy \u2013 and without trade retaliation! While this still amounts to a tax on US corporations and\/or households, markets will likely construe these deals as a win for Trump \u2013 major economies are rolling over just to get a deal done so we can all move on with our lives. As I noted last week, to the extent that most trading partners will face similarly stiff tariffs, they should not lose much competitiveness (at least against each other) with regard to selling into the US market.\u00a0 Reports suggest an updated deal with China is also in the wings.\u00a0 Is this good news? From a markets perspective, all this is great news \u2013 there are good grounds to think that tariff uncertainty will soon be behind us and the overall level of tariffs won\u2019t be enough to tip the US economy into recession.\u00a0 That said, we do likely face a few months of higher-than-usual US monthly inflation gains (as some of the tariffs are passed through to prices) but markets seem well prepared for this. Provided this remains a one-off hit to the price\u00a0level\u00a0\u2013 and is not entrenched into higher\u00a0inflation\u00a0through a wage-price spiral \u2013 it\u2019s an acceptable outcome for markets.\u00a0 There will also likely be some hit to US profits and household real incomes, which could temporarily slow economic growth. But the tariff hit is coming at a time of still-resilient US economic growth and easing underlying inflation pressures. Offsetting the tariff hit (to an extent) will be reduced trade uncertainty and the Fed waiting in the wings to cut interest rates further as required.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/\" \/>\n<meta property=\"og:site_name\" content=\"Abingdon Wealth\" \/>\n<meta property=\"article:published_time\" content=\"2025-12-14T19:10:37+00:00\" \/>\n<meta name=\"author\" content=\"Mike Avey\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mike Avey\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/\"},\"author\":{\"name\":\"Mike Avey\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#\\\/schema\\\/person\\\/8da42c906cebd4d6b6f6134563a3a92c\"},\"headline\":\"Bassanese Bites: – 8 December 2025\",\"datePublished\":\"2025-12-14T19:10:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/\"},\"wordCount\":60,\"publisher\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#organization\"},\"keywords\":[\"format\"],\"articleSection\":[\"Bassanese Bites\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/\",\"url\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/\",\"name\":\"Bassanese Bites: - 8 December 2025 - Abingdon Wealth\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#website\"},\"datePublished\":\"2025-12-14T19:10:37+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/2025\\\/12\\\/14\\\/bassanese-bites-8-december-2025\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/abingdonwealth.com.au\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Bassanese Bites: – 8 December 2025\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#website\",\"url\":\"https:\\\/\\\/abingdonwealth.com.au\\\/\",\"name\":\"Abingdon Wealth\",\"description\":\"Financial Advisor Brisbane | Abingdon Wealth\",\"publisher\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/abingdonwealth.com.au\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#organization\",\"name\":\"Abingdon Wealth\",\"url\":\"https:\\\/\\\/abingdonwealth.com.au\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/abingdonwealth.com.au\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/LogoTest_1.png\",\"contentUrl\":\"https:\\\/\\\/abingdonwealth.com.au\\\/wp-content\\\/uploads\\\/2019\\\/07\\\/LogoTest_1.png\",\"width\":272,\"height\":84,\"caption\":\"Abingdon Wealth\"},\"image\":{\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/abingdonwealth.com.au\\\/#\\\/schema\\\/person\\\/8da42c906cebd4d6b6f6134563a3a92c\",\"name\":\"Mike Avey\",\"sameAs\":[\"https:\\\/\\\/abingdonwealth.com.au\"],\"url\":\"https:\\\/\\\/abingdonwealth.com.au\\\/index.php\\\/author\\\/abma1\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Bassanese Bites: - 8 December 2025 - Abingdon Wealth","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/","og_locale":"en_US","og_type":"article","og_title":"Bassanese Bites: - 8 December 2025 - Abingdon Wealth","og_description":"Global week in review Global equities pushed higher last week, helped by solid US earnings reports and the completion of more major US trade deals.\u00a0 Trump causes Japan and Europe to blink\u00a0 Say what you like about US President Donald Trump but he does appear to have secured some fairly good trade deals with both Japan and the European Union \u2013 at least from his perspective. Both major US trading partners have agreed to a 15% tariff on most of their goods imported into the US, along with a commitment to invest billions into the US economy \u2013 and without trade retaliation! While this still amounts to a tax on US corporations and\/or households, markets will likely construe these deals as a win for Trump \u2013 major economies are rolling over just to get a deal done so we can all move on with our lives. As I noted last week, to the extent that most trading partners will face similarly stiff tariffs, they should not lose much competitiveness (at least against each other) with regard to selling into the US market.\u00a0 Reports suggest an updated deal with China is also in the wings.\u00a0 Is this good news? From a markets perspective, all this is great news \u2013 there are good grounds to think that tariff uncertainty will soon be behind us and the overall level of tariffs won\u2019t be enough to tip the US economy into recession.\u00a0 That said, we do likely face a few months of higher-than-usual US monthly inflation gains (as some of the tariffs are passed through to prices) but markets seem well prepared for this. Provided this remains a one-off hit to the price\u00a0level\u00a0\u2013 and is not entrenched into higher\u00a0inflation\u00a0through a wage-price spiral \u2013 it\u2019s an acceptable outcome for markets.\u00a0 There will also likely be some hit to US profits and household real incomes, which could temporarily slow economic growth. But the tariff hit is coming at a time of still-resilient US economic growth and easing underlying inflation pressures. Offsetting the tariff hit (to an extent) will be reduced trade uncertainty and the Fed waiting in the wings to cut interest rates further as required.","og_url":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/","og_site_name":"Abingdon Wealth","article_published_time":"2025-12-14T19:10:37+00:00","author":"Mike Avey","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Mike Avey","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/#article","isPartOf":{"@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/"},"author":{"name":"Mike Avey","@id":"https:\/\/abingdonwealth.com.au\/#\/schema\/person\/8da42c906cebd4d6b6f6134563a3a92c"},"headline":"Bassanese Bites: – 8 December 2025","datePublished":"2025-12-14T19:10:37+00:00","mainEntityOfPage":{"@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/"},"wordCount":60,"publisher":{"@id":"https:\/\/abingdonwealth.com.au\/#organization"},"keywords":["format"],"articleSection":["Bassanese Bites"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/","url":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/","name":"Bassanese Bites: - 8 December 2025 - Abingdon Wealth","isPartOf":{"@id":"https:\/\/abingdonwealth.com.au\/#website"},"datePublished":"2025-12-14T19:10:37+00:00","breadcrumb":{"@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/abingdonwealth.com.au\/index.php\/2025\/12\/14\/bassanese-bites-8-december-2025\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/abingdonwealth.com.au\/"},{"@type":"ListItem","position":2,"name":"Bassanese Bites: – 8 December 2025"}]},{"@type":"WebSite","@id":"https:\/\/abingdonwealth.com.au\/#website","url":"https:\/\/abingdonwealth.com.au\/","name":"Abingdon Wealth","description":"Financial Advisor Brisbane | Abingdon Wealth","publisher":{"@id":"https:\/\/abingdonwealth.com.au\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/abingdonwealth.com.au\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/abingdonwealth.com.au\/#organization","name":"Abingdon Wealth","url":"https:\/\/abingdonwealth.com.au\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/abingdonwealth.com.au\/#\/schema\/logo\/image\/","url":"https:\/\/abingdonwealth.com.au\/wp-content\/uploads\/2019\/07\/LogoTest_1.png","contentUrl":"https:\/\/abingdonwealth.com.au\/wp-content\/uploads\/2019\/07\/LogoTest_1.png","width":272,"height":84,"caption":"Abingdon Wealth"},"image":{"@id":"https:\/\/abingdonwealth.com.au\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/abingdonwealth.com.au\/#\/schema\/person\/8da42c906cebd4d6b6f6134563a3a92c","name":"Mike Avey","sameAs":["https:\/\/abingdonwealth.com.au"],"url":"https:\/\/abingdonwealth.com.au\/index.php\/author\/abma1\/"}]}},"_links":{"self":[{"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7486","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=7486"}],"version-history":[{"count":1,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7486\/revisions"}],"predecessor-version":[{"id":7487,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/posts\/7486\/revisions\/7487"}],"wp:attachment":[{"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=7486"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=7486"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/abingdonwealth.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=7486"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}