There’s a consistent view of the consumer emerging from Australia’s Financial year 2026 (FY26) retail reporting season. Households haven’t stopped spending, but they’ve become more selective, more value-conscious and increasingly willing to postpone discretionary purchases or wait for promotions and sales. The pressure is most evident in big-ticket categories like furniture, appliances, and homewares.

  I speak with Brett Craig, Director of Private Credit at Aura Credit Holdings, about the key differences between the Australian and U. S. private credit markets, and why the risks making headlines overseas may not necessarily translate directly to Australia.

Australia’s August reporting season is now underway, with investors turning their attention from macroeconomic headlines to what ultimately matters most over the long term: company earnings and outlook statements. This reporting season arrives against the backdrop of uncertainty in the economy.

As we begin Fiscal 2027, it is worth taking a step back to reflect on the major themes that shaped global markets over the past year. I explore the key developments across equities, bonds, interest rates, commodities and currencies, and consider what they may mean for investors going forward.