Will AI be inflationary or disinflationary?

Welcome to the Complexity Premia podcast by Coolabah Capital, a hosted by Christopher Joye, Chief Investment Officer and Portfolio Manager at Coolabah Capital, and Ying Yi, a Senior Portfolio Management Director at Coolabah Capital. The Complexity Premia podcast strives to deconstruct modern investment problems for wholesale (not retail) participants in capital markets. You can listen on your favourite podcast app, or you can find it on Spotify, Podbean or Apple Podcasts.

In this episode, Chris and Ying Yi run a top-down markets scan: recent performance and the outlook for yields, how hyperscaler AI capex is feeding into bond supply, inflation expectations and term premia, and where value is emerging across major asset classes. They cover the next moves from the RBA and the Fed, implications for housing and growth, and whether AI ultimately proves disinflationary. The conversation closes with the cross-asset tells—USD, gold and bitcoin—and what they’re signalling for the year ahead.

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