Latest
Australian dollar eases after RBA fights back hawks
The Australian dollar fell back after the Reserve Bank warned hawkish markets that a cash rate increase in 2022 was unlikely.
- 1 hr ago
- Cecile Lefort
‘A difficult choice’: Lowe kills off yield curve control
Reserve Bank governor Philip Lowe has ditched yield curve control, but claims it was not a decision forced by the market.
- Jonathan Shapiro
RBA’s new messaging has ‘bought it more time’
The RBA’s decision to scrap its forward guidance has given it more flexibility, economists say, and an ability to stay dovish in the face of a rowdy bond market.
- Alex Gluyas
RBA flip-flop weighs on shares in volatile session
Australian shares edged lower on Tuesday after the Reserve Bank scrapped its prior guidance and commodity prices weighed on materials companies.
- Richard Henderson
Lowe: rates could rise in 2023 or 2024
Watch live: RBA governor Phil Lowe to provide an update; RBA says rate hike “entirely plausible” in 2023, drops yield curve control on earlier-than-expected progress towards inflation, holds cash rate at 0.1pc.
- Updated
- Tom Richardson, Vesna Poljak, William McInnes, Cecile Lefort, Alex Gluyas and Richard Henderson
RBNZ says house prices largely outside its control
The Reserve Bank of New Zealand has played down its ability to curb soaring house prices, saying it only has a small role to play in keeping the market steady.
- William McInnes
Opinion & Analysis
Bond traders ramp up bets on ‘big shift’ in global monetary policy
Investors are increasingly testing central bankers’ insistence that elevated inflation will be fleeting.
Contributor
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
Companies in the News
Westpac Banking Corporation
Crown Resorts
Macquarie Group
Fortescue Metals Group
Updated: Nov 2, 2021 – 3.58pm. Data is 20 mins delayed.
Search companies
View stories and data from an ASX listed company
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
More From Today
- Analysis
- Inflation
Bond traders ramp up bets on ‘big shift’ in global monetary policy
Investors are increasingly testing central bankers’ insistence that elevated inflation will be fleeting.
- Tommy Stubbington
Inflation expectations point to accelerating wages growth
Evidence of elevated inflation expectations highlights that wages growth is climbing, while consumer confidence rebounded to its highest level since July 2021.
- Alex Gluyas
ASX to rise, bolstered by late rally in New York
Australian shares are set to open higher with a heightened focus on the Reserve Bank’s policy meeting. $A steady.
- Timothy Moore
Yesterday
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
‘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
