Fallout from Fed rate hike is just starting
![Federal Reserve Chair Janet Yellen speaks during a news conference in Washington, Wednesday, Dec. 16, 2015, following an announcement that the Federal Reserve raised its key interest rate by quarter-point, heralding higher lending rates in an economy much sturdier than the one the Fed helped rescue in 2008. (AP Photo/Susan Walsh)](/content/dam/images/g/l/p/g/p/b/image.related.afrIndexLead.320x210.gm9ofr.glm88m.png/1453274221917.jpg)
The end of the global flood of cheap money is hitting commodity exporting economies including Australia and it could be a bigger risk than China.
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The end of the global flood of cheap money is hitting commodity exporting economies including Australia and it could be a bigger risk than China.
ANZ shares fell heavily on Wednesday after Morgan Stanley said the bank will cut its dividend per share because of bad loans in Asia.
Australian shares closed at fresh two-and-a-half year lows on Wednesday as investors dumped shares in ANZ and BHP.
Chant West research showed that non-profit funds beat their for-profit rivals by an average of 1.5 percentage points in 2015.
Senior Coalition ministers stoked tensions over pre-selections by saying sitting MPs are fair targets.
The satirical US website is now worth as much as the serious newspapers which it parodies.
The search for yield from bonds won't get any easier and investors wil be tempted to venture further and further up the risk curve.
It is somewhat ironic that Qantas is benefiting from the same weakness in commodity prices that has smashed BHP.
People using trusts to gain tax exemptions could be hit with higher tax bills under a review by the Tax Office.
The sharemarket has dropped sharply in afternoon trade and is heading for its lowest close in more than two years.
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