Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession
Published . Updated .
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RBA governor Michele Bullock isn’t sugar-coating what’s coming. But artificial intelligence disruption may add a new element of pain to a traditional slowdown.
Directly affected
- No company is named in this report.
Indirectly affected
- DBA Invesco DB Agriculture Fund-6.1% 30d
Invesco DB Agriculture Fund: it follows farm commodity prices. Linked by “sugar” (grains and farm goods) in this story.
- WEAT Teucrium Wheat Fund-5.5% 14d
Teucrium Wheat Fund: it follows farm commodity prices. Linked by “sugar” (grains and farm goods) in this story.
- QQQ Invesco QQQ-9.8% 30d
Invesco QQQ: it holds the big tech and AI names. Linked by “artificial intelligence” (AI and big tech) in this story.
- EWA iShares MSCI Australia ETF+2.2% 30d
iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“rba”).
- MSFT Microsoft+4.0% 30d
Microsoft (prepackaged software): big tech's AI spending and demand drive its shares. Linked by “artificial intelligence” (AI and big tech) in this story.
- GOOGL Alphabet-17.2% 30d
Alphabet (computer programming, data processing, etc.): big tech's AI spending and demand drive its shares. Linked by “artificial intelligence” (AI and big tech) in this story.
- ADM Archer-Daniels-Midland-19.8% 30d
Archer-Daniels-Midland (fats and oils): crop traders and farm suppliers move with grain prices and trade. Linked by “sugar” (grains and farm goods) in this story.
- AMZN Amazon.com+0.5% 30d
Amazon.com (catalog and mail-order houses): big tech's AI spending and demand drive its shares. Linked by “artificial intelligence” (AI and big tech) in this story.
Price reaction, T-5 to T+3
| Ticker | T-5 | T-3 | T-1 | T0 | T+1 | T+2 | T+3 |
|---|---|---|---|---|---|---|---|
| DBA | +2.11% | +1.22% | base | after close | after close | after close | after close |
| WEAT | +0.68% | +1.09% | base | after close | after close | after close | after close |
| QQQ | +5.88% | +0.76% | base | after close | after close | after close | after close |
| EWA | +1.62% | +1.58% | base | after close | after close | after close | after close |
| MSFT | +2.19% | +0.22% | base | after close | after close | after close | after close |
| GOOGL | +16.24% | -0.00% | base | after close | after close | after close | after close |
| ADM | +9.32% | +8.87% | base | after close | after close | after close | after close |
| AMZN | +1.58% | -4.14% | base | after close | after close | after close | after 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.
Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession AFR
Source: AFR
Ishares Inc Msci Australia Etf (EWA) since this story, compared with the market
| Company | When | Move | Status |
|---|---|---|---|
| ADM | three days earlier | +8.87% | final price |
| ADM | five days earlier | +9.32% | final price |
| AMZN | three days earlier | -4.14% | final price |
| AMZN | five days earlier | +1.58% | final price |
| DBA | three days earlier | +1.22% | final price |
| DBA | five days earlier | +2.11% | final price |
| Ishares Inc Msci Australia Etf (EWA) | three days earlier | +1.58% | final price |
| Ishares Inc Msci Australia Etf (EWA) | five days earlier | +1.62% | final price |
| GOOGL | three days earlier | -0.00% | final price |
| GOOGL | five days earlier | +16.24% | final price |
| MSFT | three days earlier | +0.22% | final price |
| MSFT | five days earlier | +2.19% | final price |
| QQQ | three days earlier | +0.76% | final price |
| QQQ | five days earlier | +5.88% | final price |
| WEAT | three days earlier | +1.09% | final price |
| WEAT | five days earlier | +0.68% | final price |
Congressional trades in the stocks in this story
- Rep. Pete Sessions sold Microsoft (MSFT) (held by a spouse), worth $250,001 - $500,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Lisa McClain bought Microsoft (MSFT) (held by a spouse), worth $1,001 - $15,000 on 30 Sep 2026. That is 35 days before publication. Filed 12 Oct 2026. View the filing.
- Rep. Michael Rulli sold Microsoft (MSFT), worth $1,001 - $15,000 on 28 Sep 2026. That is 37 days before publication. Filed 2 Oct 2026. View the filing.
- Rep. Pete Sessions sold Alphabet (GOOGL), worth $15,001 - $50,000 on 14 Sep 2026. That is 51 days before publication. Filed 18 Sep 2026. View the filing.
- Rep. Rohit Khanna sold Alphabet (GOOGL) (held by a spouse), worth $1,001 - $15,000 on 4 Sep 2026. That is 61 days before publication. Filed 7 Oct 2026. View the filing.
- Rep. Thomas H. Kean Jr sold Alphabet (GOOGL), worth $1,001 - $15,000 on 27 Aug 2026. That is 69 days before publication. Filed 12 Sep 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN), worth $15,001 - $50,000 on 27 Oct 2026. That is 8 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Pete Sessions sold Amazon Com (AMZN) (held by a spouse), worth $100,001 - $250,000 on 2 Oct 2026. That is 33 days before publication. Filed 27 Oct 2026. View the filing.
- Rep. Michael T. McCaul sold Amazon Com (AMZN) (held by a spouse), worth $1,001 - $15,000 on 28 Aug 2026. That is 68 days before publication. Filed 14 Oct 2026. View the filing.
- Sen. John Boozman sold Ishares Tr (EFA) (jointly held), worth $1,001 - $15,000 on 9 Sep 2026. That is 56 days before publication. Filed 21 Oct 2026. View the filing.
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 mentioned with this story
- EWA Ishares Inc Msci Australia Etf
Ishares Inc Msci Australia Etf (EWA) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession.” Reason on file: iShares MSCI Australia ETF holds stocks listed in Australia, which this story is about (“rba”)
- BHP BHP Group
For “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession,” 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
For “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession,” Iren Limited Ordinary Shares (IREN) is linked, with no stored direction, medium confidence. 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
Mesoblast (MESO) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession.” 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
Ishares Tr (EFA) is linked, with no stored direction, medium confidence in the 4 Nov 2026 story “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession.” Reason on file: iShares MSCI EAFE ETF is a broad fund of developed-market stocks that includes Australia, which this story is about
Ishares Inc Msci Australia Etf (EWA)
Ishares Inc Msci Australia Etf (EWA) is the company in “Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession,” the 4 Nov 2026 this story story.
For Ishares Inc Msci Australia Etf (EWA), the reason on file says 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
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.
What the saved facts support for Ishares Inc Msci Australia Etf (EWA)
40 out of 100
“Why RBA governor Michele Bullock is wrong. DJs and Canva show this may feel worse than recession” scores 40 out of 100. The score uses 1 sources, and 5 linked companies.