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ASX set for a weak start; Financial Stability Review ahead

ASX to dip; Wall Street drops; $A skids to US64¢;RBA to release Financial Stability Review; oil up

  • 3 mins ago
  • Cecile Lefort, Emma Rapaport, Alex Gluyas and Tom Richardson


Firstmac, Pepper defy UK forces to raise $2.5b via mortgage bond sales

The two non-bank lenders have priced new mortgage bond issues as UK pension funds continue to liquidate their holdings to raise cash.

  • Jonathan Shapiro

UK gilts chaos hits Magellan as institutions scramble for cash

The pain is not over yet for Magellan shareholders as fund redemptions accelerated by a total of $3.6 billion in September.

  • Updated
  • Jonathan Shapiro

ASX ends flat, energy outperforms, again

Magellan’s FUM falls 11.6pc in September. Appen plunges 16pc. Australia’s trade surplus narrows. AU bond yields rebound. Oil climbs on OPEC+. Follow the latest here.

  • Updated
  • Tom Richardson, Vesna Poljak, Alex Gluyas, Emma Rapaport and Cecile Lefort

Why Whitehaven Coal’s record rally has further to run

Glenmore’s Robert Gregory on why GQG is undervalued, owning Arena REIT as an inflation beneficiary, and reducing his position in Pinnacle.

  • Alex Gluyas

Life only gets harder for the non-bank lenders

The world had been kind to non-bank lenders, until now. Suddenly, they’re facing more hostile credit markets and rising interest rates.

  • Jonathan Shapiro

Why investors should hate OPEC’s oil production cut

There are juicy geopolitical ramifications in the cartel’s decision to reduce output. But for investors, what matters are the implications for inflation and interest rates. 

  • James Thomson

Gold falls after two-day surge with Fed in focus

Earlier this week, it was boosted after weak US data eased concerns that the central bank may be tightening its monetary policy too fast.

  • Yvonne Yue Li

This Month

We’ve gone from crisis to rally in two days. And that’s not crazy

The panic about the state of global markets has rapidly subsided. But investors hoping this rally will last should consider two key factors.

  • Updated
  • James Thomson

Private markets to double to $28 trillion by 2027

Private capital markets, encompassing private equity and private capital, have been booming over the past decade.

  • Silas Brown

Shares rally 1.7pc as traders hope central bank pivot is near

The S&P/ASX 200 Index rallied 1.7 per cent to 6815.7 points. Link shares rose 6.7 per cent to $3.11 and James Hardie firmed 6.9 per cent to $34.29.

  • Vesna Poljak

Wave of profit downgrades about to hit, warns BlackRock

Earnings expectations remain too high and stocks are yet to fully price in higher rates and the prospect of a global recession, it said.

  • Updated
  • Alex Gluyas

Yarra seeks $100m (and five years) for pre-IPO fund

The timing of the Yarra Private Capital Discovery Fund is no accident. Led by David Acton, it will seek out private businesses emphasising growth and quality.

  • Updated
  • Vesna Poljak

Labor signals delay to franked dividend hit

Assistant Treasurer Stephen Jones has signalled the government may delay the start date of its crackdown, but won’t back down on the “tax integrity” measure.

  • John Kehoe

‘Price sensitive tweet’ by journalist should never have been sent

Readers assume reporters will vet information before sharing it on social media channels, a business academic says.

  • Edmund Tadros

RBA ups cash rate 0.25pc, shares soar 3.75pc, terminal rate calls cut

NAB lifts home loan rates, CBA tips 2.85 per cent terminal rate, market consensus falls to 3.46pc in May 2023. RBA expects to increase in period ahead, inflation to rise. Follow here.

  • Tom Richardson, Alex Gluyas, Vesna Poljak, Cecile Lefort and Emma Rapaport

ASX set to surge after Wall Street jumps on weaker manufacturing data

Australian shares are poised to leap after US figures sent the Dow up 2.6 per cent as investors reassessed how high the Federal Reserve will raise interest rates. ASX futures are up 1.8 per cent.

  • Updated

Central banks trapped in their own Ponzi scheme

Macquarie’s Viktor Shvets says global markets are addicted to low rates and high liquidity, giving governors no choice but to pivot despite high inflation.

  • James Thomson

Investing for a recession? Tread carefully

If your instinct is to sell everything and move to cash, read this first.

  • Mark Draper

ABC reporter deletes tweet claiming investment bank ‘on the brink’

The ABC said it has reminded reporter David Taylor about its social media guidelines after he tweeted that an international investment bank was ‘on the brink’.

  • Emma Rapaport and Tom Richardson