John McDuling

Founding Editor-in-Chief at Capital Brief

Founding EIC @capitalbrief Priors: @smh | @theage @financialreview @qz

Articles

In gold we trust

1 week ago | capitalbrief.com | John McDuling

“This is the first time in my career that you have got a president who wants the price of gold to go higher,” Larry Jeddeloh, a nearly 50-year veteran of the markets, declared at the Macquarie Australia Conference on Thursday. “I’ve never seen that before.”Jeddeloh, the founder of Minneapolis-based macro strategy firm TIS Group, was one of the more intriguing figures to appear at the conference in Sydney.
Urban decay

1 week ago | capitalbrief.com | John McDuling

When the historians of the future look back on the 2025 election campaign, they may well agree that the defining moment took place more than 15,000 kilometres from Australian shores. Donald Trump’s sweeping 'Liberation Day' tariffs, unveiled in the White House Rose Garden just days after the election was called, sent global markets into a tailspin and hijacked the news cycle.
No confidence vote

2 weeks ago | capitalbrief.com | John McDuling

“We’re politically neutral, and belong to no tribe: We take no sides in partisan politics. And we will never tell our audience how to vote”. The above was listed as one of our core editorial values when we launched Capital Brief nearly two years ago, and our coverage of the 2025 election campaign has been guided by those principles. Consistent with that, we won’t be endorsing any party or candidate.
Debt and forget

2 weeks ago | capitalbrief.com | John McDuling

There was a time, not that long ago, when a warning from a ratings agency that Australia’s sovereign credit rating was at risk of a downgrade due to excessive government spending would have set off a political earthquake. Not so this week. Sure, S&P’s lament over the nation’s finances generated plenty of headlines, including in Capital Brief.
Final countdown

3 weeks ago | capitalbrief.com | John McDuling

It’s difficult to remember an Australian federal election campaign like this one, and there haven't been that many days over the past four weeks where the election has even led the news in Australia. Delayed by a cyclone, interrupted by the Easter and Anzac Day breaks, and paused for the recent passing of the Pope, it has been a stop-start affair, punctuated by unforeseen events.
Breaking bonds

1 month ago | capitalbrief.com | John McDuling

There’s a long history of government debt markets revolting in the face of poor policy, from the US “bond vigilantes" of the 1980s and 1990s to the more recent implosion of Liz Truss’ Conservative government in the UK just a few years ago. It’s a history Scott Bessent is intimately familiar with. That’s why the latest convulsions in global markets will surely be concerning the US Treasury Secretary. Get The Edition in your inboxSigned up to The EditionA must-read afternoon newsletter.
Home truths

1 month ago | capitalbrief.com | John McDuling

Every so often, the news serves up a reminder that Australia is not the United States, and in fact the two countries are in many ways quite different. The federal Coalition’s volte-face on work-from-home arrangements for the public service is one of those times.
Capital beef

1 month ago | capitalbrief.com | John McDuling |Jack Derwin

As the eyes of the world fixated on the White House rose garden for US president Donald Trump’s ‘Liberation Day’ tariffs announcement, there was always a chance someone would seize on the opportunity to take out the trash. So it was almost unsurprising when, while Trump was speaking, big four lender ANZ told the market it had agreed to wear a $250 million capital penalty from the banking regulator as a result of last year’s bond trading scandal.
Election mode

1 month ago | capitalbrief.com | John McDuling

Parliament House in Canberra is a strange place at the best of times. It's a building oozing with power and intrigue, where journalists work within earshot of their sources and competitors and elected officials engage in all sorts of political theatre to generate attention. But this week was especially weird, and not even because of the presence of a fish on the floor of the Senate.
Poking the bear

2 months ago | capitalbrief.com | John McDuling

Is Donald Trump really willing to let equity markets go through the painful detox period some in his administration think is necessary? Or will he blink if things get really rough? That is what investors must ask themselves as a growing number of market warning signals flash red. Get The Edition in your inboxSigned up to The EditionA must-read afternoon newsletter. Free to join, read by decision makers and featuring our top stories. Update and view your newsletter preferences in your account.