Geopolitics Alpha

We’re not heading into a recession but RBA faces a new test

Published . Updated .

Key takeaways

  • Exposed: EWA, BHP, IREN, MESO, EFA
  • Market reaction: BHP −1.9% on the day (still updating); EWA −1.0% on the day (still updating); IREN +9.8% on the day (still updating)

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GEOPOLITICS ALPHAWe’re not heading into a recessionbut RBA faces a new testGEOPOLITICS ALPHA

This report is about Australia.

Directly affected

  • No company is named in this report.

Indirectly affected

  • EWA iShares MSCI Australia ETF+2.2% 30d

    iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“rba”).

  • BHP BHP Group-6.7% 30d

    BHP Group (metal mining) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares.

  • IREN Iren-35.6% 30d

    Iren (finance services) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares.

  • MESO Mesoblast

    Mesoblast (biological products, (no diagnostic substances)) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares.

  • EFA iShares MSCI EAFE ETF-1.8% 10d

    iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Australia, which this story is about.

Price reaction, T-5 to T+3

TickerT-5T-3T-1T0T+1T+2T+3
EWA+0.15%+0.71%base-1.04%after closeafter closeafter close
BHP+3.20%+2.21%base-1.94%after closeafter closeafter close
IREN+24.51%+19.20%base+9.85%after closeafter closeafter close
MESO-9.45%+7.69%base+2.03%after closeafter closeafter close
EFA-0.13%+0.62%base-0.38%after closeafter closeafter close

Closing-price change versus T-1, the last close before the story. T0 to T+3 fill in after each market close. Prices: Alpaca IEX.

We’re not heading into a recession but RBA faces a new test AFR

Source: AFR

Price since this story was published: Ishares Inc Msci Australia Etf (EWA)

CompanyWhenMoveStatus
BHP Group (BHP)that day-1.94%still updating
BHP Group (BHP)three days earlier+2.21%final price
BHP Group (BHP)five days earlier+3.20%final price
Ishares Tr (EFA)that day-0.38%still updating
Ishares Tr (EFA)three days earlier+0.62%final price
Ishares Tr (EFA)five days earlier-0.13%final price
Ishares Inc Msci Australia Etf (EWA)that day-1.04%still updating
Ishares Inc Msci Australia Etf (EWA)three days earlier+0.71%final price
Ishares Inc Msci Australia Etf (EWA)five days earlier+0.15%final price
Iren Limited Ordinary Shares (IREN)that day+9.85%still updating
Iren Limited Ordinary Shares (IREN)three days earlier+19.20%final price
Iren Limited Ordinary Shares (IREN)five days earlier+24.51%final price
Mesoblast (MESO)that day+2.03%still updating
Mesoblast (MESO)three days earlier+7.69%final price
Mesoblast (MESO)five days earlier-9.45%final price

Congressional trades in Ishares Inc Msci Australia Etf (EWA) around 3 Nov 2026

Public disclosure filings, not a recommendation. The filing link is the source document. News use of these reports still sits under 5 U.S.C. § 13107(c).

Who gains and who loses around Ishares Inc Msci Australia Etf (EWA)

Companies tied to this story

  • EWA Ishares Inc Msci Australia Etf

    Ishares Inc Msci Australia Etf (EWA) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “We’re not heading into a recession but RBA faces a new test.” Reason on file: iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“rba”)

  • BHP BHP Group

    In “We’re not heading into a recession but RBA faces a new test,” BHP Group (BHP) is linked, with no stored direction, medium confidence. Reason on file: BHP Group (metal mining) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares

  • IREN Iren Limited Ordinary Shares

    Iren Limited Ordinary Shares (IREN) is linked, with no stored direction, medium confidence in the 3 Nov 2026 story “We’re not heading into a recession but RBA faces a new test.” Reason on file: Iren (finance services) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares

  • MESO Mesoblast

    For “We’re not heading into a recession but RBA faces a new test,” Mesoblast (MESO) is linked, with no stored direction, medium confidence. Reason on file: Mesoblast (biological products, (no diagnostic substances)) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares

  • EFA Ishares Tr

    In “We’re not heading into a recession but RBA faces a new test,” Ishares Tr (EFA) is linked, with no stored direction, medium confidence. Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Australia, which this story is about

How “We’re not heading into a recession but RBA faces a new test” reaches Ishares Inc Msci Australia Etf (EWA)

“We’re not heading into a recession but RBA faces a new test” (3 Nov 2026) reaches Ishares Inc Msci Australia Etf (EWA) through this story.

The link for Ishares Inc Msci Australia Etf (EWA) is this: iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“rba”)

Also listed, BHP Group (BHP): BHP Group (metal mining) is one of the largest Australia-based companies traded in the US, so news about Australia (“rba”) reaches its shares

Dates and price levels for Ishares Inc Msci Australia Etf (EWA)

BHP traded between 78.06 and 88.30 across 20 sessions. The latest close on file is 79.11. EWA traded between 27.76 and 29.31 across 20 sessions. The latest close on file is 29.12. IREN traded between 23.72 and 43.91 across 20 sessions. The latest close on file is 27.43.

A simple score for Ishares Inc Msci Australia Etf (EWA)

40 out of 100Price not final

“We’re not heading into a recession but RBA faces a new test” scores 40 out of 100. The score uses 1 sources, and 5 linked companies. The price is not final yet.