Latest
RBA should not be pressured to pay dividends: economists
A possible recapitalisation of the Reserve Bank’s balance sheet would not stand in the way of its newfound role as a policy tool of last resort.
- Cecile Lefort
ASX climbs 0.6pc as markets eye RBA meeting
The local market was boosted by M&A activity as AusNet Services rose 3.6 per cent after its board and major shareholder backed Brookfield’s takeover bid.
- Alex Gluyas
ASX climbs; Judo Bank rises on debut
Australian shares ended higher; Westpac reports $5.35b cash profit, unveils $3.5b buyback; Seven West acquires Prime Media for $121.9m; Westpac says RBA should abandon rate guidance. Follow the latest here.
- Updated
- Vesna Poljak, William McInnes, Tom Richardson, Richard Henderson, Alex Gluyas and Cecile Lefort
Bond sell-off hits vulnerable corners of the sharemarket
Real estate, utilities, tech and healthcare are among sectors susceptible to rising bond yields. For every 1pc increase in interest rates, REITs will weather a 4pc hit to profits.
- Richard Henderson
‘No end in sight’ for coal sell-off as bear market deepens
Coal futures have halved from the record highs of two weeks ago as China’s government steps up its intervention in the domestic market.
- Alex Gluyas
Retirement of RBA’s ultra-loose policy hinges on inflation upgrade
Tuesday’s board meeting is shaping up as a history-making event, with the RBA readying to plot a retreat from ultra-loose monetary policy settings.
- Cecile Lefort
Opinion & Analysis
How Adam Smith’s ‘invisible hand’ is working to save the planet
While the government negotiates a pathway to COP26, management teams have embedded sustainability into their day jobs.
Contributor
Investor confidence in US at highest since Obama presidency
Sentiment among institutional investors is for the first time higher now than it was at any point during the Trump administration.
Contributor
An NFT tale: this little Piggy market went south
A sale of randomly generated cute and cruel digital pig cartoons turns ugly and furious investors are asking, ‘what went wrong?’.
Senior reporter
Cryptocurrencies will be as useless in the metaverse as they are now
The hypocritical fantasy that underpins crypto also lies at the heart of the metaverse. Both ideas are about making a few people rich, not about building a decentralised paradise.
Contributor
Companies in the News
Crown Resorts
Westpac Banking Corporation
Macquarie Group
Commonwealth Bank
Updated: Nov 1, 2021 – 4.46pm. Data is 20 mins delayed.
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Meet the Fundie
Why this fund manager doesn’t invest in Facebook
The risk of a regulatory crackdown, a rotation to cyclical sectors and inflation threaten FAANG stocks, warns Jordan Cvetanovski of Pella Funds Management.
- Richard Henderson
How to spot the ‘next CSL’ when every small cap’s an innovator
The new industrial revolution ‘is the biggest thing since James Watt looked at a steam engine and said, “I can use that”,’ Ausbil’s Tobias Bucks says.
- Alex Gluyas
Meet the debt specialist who started at 15
Cbus’ head of debt Linda Cunningham survived the collapse of Pyramid Building Society and the GFC to fund Melbourne icons Crown Casino and Docklands Stadium.
- Cecile Lefort
Yesterday
‘Squid Game’ cryptocurrency jumps 75,000pc in less than a week
Holders of the tokens inspired by the hit Netflix series can play online games to earn more. Developers promise there are no ‘deadly consequences’.
- Huileng Tan
ASX to rise, RBA meeting in focus
Australian shares are set to surge to start the month, bolstered by Wall Street resilience. Central banks and purchasing managers indices top the week’s agenda.
- Timothy Moore
This New York-based fund manager hates Alibaba but loves PayPal
The payments sector has entered a golden era, says Aravt Global’s Yen Liow, who hails from Melbourne.
- Richard Henderson
October
Reserve Bank fronts pressure to dump bond yield target
The battle between the RBA and markets over a timeline for cash rate hikes is expected to lift a gear at Tuesday’s monetary policy meeting.
- Tom Richardson
- Opinion
- Investing
How Adam Smith’s ‘invisible hand’ is working to save the planet
While the government negotiates a pathway to COP26, management teams have embedded sustainability into their day jobs.
- Kate Howitt
- Opinion
- Wall Street
Investor confidence in US at highest since Obama presidency
Sentiment among institutional investors is for the first time higher now than it was at any point during the Trump administration.
- Robert Burgess
Tesla’s hidden billionaire: how a retail trader made $9b
Bank records provided by Leo KoGuan point to ownership of more than 6 million Tesla shares and more than 1 million options that are deeply in the money.
- Anders Melin and Dana Hull
US stocks gain as traders brush off big tech earnings misses
The S&P 500 gained 0.2 per cent after opening lower on underwhelming results from Amazon and Apple.
- Emily Graffeo and Vildana Hajric
Bond pain spreads to sharemarket as stocks tumble
Real estate, infrastructure, insurance and tech companies fall as climbing bond yields knock the equity market.
- Richard Henderson
Economists bring forward rate rise projections
AMP Capital and Commonwealth Bank have pencilled in November 2022 for the RBA’s first rate increase, while NAB predicted mid-2023 amid an escalating bond sell-off.
- Alex Gluyas
Top fundie warns of interest rate complacency
A prolonged period of super low interest rates is reaching a point where it seems like markets are taking that on board as the new normal, says Collins St’s Michael Goldberg.
- Alex Gluyas
Bulls return to China’s markets just as risks start to multiply
Analysts and investors are betting prices already reflect a slowdown in the property market, weaker growth and Xi Jinping’s campaign to shake up private enterprise.
- Sofia Horta e Costa
Red October: behind the bond market’s war with the RBA
Over 10 epic trading sessions, and two crucial data releases, bond traders that backed the RBA’s view of the world were broken.
- Jonathan Shapiro
Bond markets rage after RBA skips intervention
The Reserve Bank skipped another chance to suppress runaway bond yields, reinforcing the view the bank will bring forward its cash rate guidance to no later than 2023 amid rising inflation.
- Cecile Lefort
Banks lead shares 1.2pc lower; Macquarie doubles profit, dividend
NAB tips rate hikes by mid-2023. RBA declines to defend bond target. ResMed lifts Q3 profit 18pc. Marley Spoon dives 34pc on downgrade. Pointsbet tumbles again. US futures lower.
- Tom Richardson, Vesna Poljak, Richard Henderson, Alex Gluyas and Cecile Lefort
ASX to rise, techs pace broad Wall Street rally
Australian shares are set to open higher as Apple, Amazon and Facebook paced US stocks to record highs. Bitcoin above $US61,000.
- Timothy Moore
Bond markets push the RBA close to capitulation
The Reserve Bank is on the cusp of being defeated over its yield curve control policy as a ferocious sell-off takes hold.
- Cecile Lefort and Ronald Mizen
ASX drops 0.2pc as rate hike nerves escalate
Australian shares were dragged lower by losses across the materials and energy sectors, while the prospect of higher interest rates rattled the local market.
- Alex Gluyas
ASX falls; Reece, Boral jump; PointsBet craters to 14-month low
Australian shares edge 0.2pc lower; Whitehaven Coal, PointsBet Holdings tumble; CBA forecasts rate hike next year.
- Updated
- Richard Henderson, Cecile Lefort, Vesna Poljak, William McInnes, Alex Gluyas and Tom Richardson
Why CBA shares are so much more expensive than the other banks
Lazard’s Aaron Binsted explains why the oil mega-mergers make strategic sense, the upside offered by Mayne Pharma, and inflation’s influence on the growth-value dynamic.
- Alex Gluyas
