Today
ASX to fall, S&P 500 rally runs out of petrol
Australian shares are set to open lower. US stocks sell-off late; Dow sheds 475 points. S&P 500 slides 1.5pc.
- Updated
- Timothy Moore
UK inflation slows more than forecast, fuelling rate-cut bets
Consumer prices rose 3.9 per cent from a year earlier, down from 4.6 per cent in October, according to the latest monthly data.
- Tom Rees and Lucy White
Surprise fall in UK services inflation may hold key to rate cuts
Economists expect services inflation to continue subsiding, pushed lower by the drop in energy prices, the weakening jobs market and lacklustre demand.
- Tom Rees
Yesterday
Global shift in rate cut bets sparks Santa rally
A “dovish” pivot from the Fed last week has lit a fire under equities, which have correctly bet that global monetary settings are shifting gear.
- Updated
- Sarah Jones and Cecile Lefort
The hedge fund traders dominating a huge bet on bonds
A trio of top players in the “basis trade” are the driving force behind a gigantic wager on government debt that has regulators worried.
- Nishant Kumar, Donal Griffin and William Shaw
ASX to rise, S&P 500 edges closer to record high
Australian shares are set to open higher. Dow, Nasdaq 100 reset record highs. Fed official signals rate cut potential. Oil edges towards $US80 mark. $A rises.
- Timothy Moore
Global fund mangers extend their equity bets
Fund managers are the most overweight equities relative to cash since January 2022, according to Bank of America’s latest survey of their holdings.
- Timothy Moore
This Month
ASX to rise, Wall Street powers higher
Australian shares are set to advance. S&P 500 paces gains in New York. Oil retakes $US78 mark. $A steady. Apple lower on Watch patent loss.
- Timothy Moore
Fed officials add to chorus pushing back against rate-cut bets
Chicago Fed president Austan Goolsbee said he was surprised by the outsize market reaction to the Fed’s updated quarterly economic projections last week.
- Catarina Saraiva
Zip raises $150m corporate loans at 15pc
The buy now, pay later company says it has refinanced its corporate loan, the latest in a long-running effort to clean up its balance sheet.
- Jonathan Shapiro
Bond traders bet on aggressive rate cuts in 2024
They believe Friday’s US inflation report will confirm a cooling in prices and open the door for early rate cuts next year, despite the jawboning from Fed officials.
- Cecile Lefort
- Opinion
- Chanticleer
What’s behind Monday’s $5b deal frenzy
A burst of pre-Christmas deals isn’t unusual. But the impressive market rally in the past six weeks has helped unstick some deals that have been simmering for some time.
- James Thomson
BHP at $100, shorting banks, Qantas chaos: the best of Monday Fundie
From Regal to Ellerston Capital and Morningstar, the 48 fund managers profiled by the Financial Review were early, wrong and on the money in 2023.
- Jonathan Shapiro and Sarah Jones
- Opinion
- Opinion
Here’s what you need to look for when buying bonds in 2024
When allocating to fixed income, there are things that fund managers look for. With two of the three boxes ticked already, next year could be interesting for the market.
- Chris Dickman
Dow’s record outruns central banks, counts on aggressive rate cuts
The Fed is expected to be the first central bank to lower rates next year, ahead of the European Central Bank and Bank of England, and months before the RBA.
- Cecile Lefort and Joanne Tran
ASX to rise even as Fed-fuelled surge shows signs of overheating
The Federal Reserve-driven rally in global shares continued overnight, pushing the S&P 500 towards overbought levels.
- Updated
- Andrew Hobbs
The Australian Financial Review names its Business Person of the Year
Gina Rinehart has capped an extraordinary year of deal-making across the mining, energy, agribusiness and retail sectors by taking out the top honour.
- James Thomson
AusSuper’s Delaney ready to re-shape capital markets
AustralianSuper is a pioneer, builder and now a stirrer after blocking the takeover of Origin Energy. Chief investment officer Mark Delaney has seen it all.
- Anthony Macdonald
Traders double down on RBA rate cuts after Fed pivot
Bond markets are pricing more aggressive monetary easing in the US and Australia after the Federal Reserve flagged a peak in interest rates.
- Cecile Lefort
- Opinion
- Monetary policy
Powell’s dovish genie is out of the bottle
The US Federal Reserve chairman said cutting rates had “now come into view”, and the markets ran with it.
- Matthew Cranston
