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
Shares hit a high; Trump not eligible; 2023 good and bad
Read everything that’s happened in the news so far today.
This Month
RBA warns it may raise rates again, but markets predict cuts
Markets doubt the central bank will deliver any more rate rises, despite warning it may need to deliver another increase if inflation remains high.
- Michael Read
RBA considered rate rise; Oil, gas surge; WFH’s new phase
Read everything that’s happened in the news so far today.
ASX to drop 1pc as US rate cut optimism cools
ASX futures indicated shares are poised to drop 1 per cent, or 74 points, at the return of trade on Monday.
- Joanne Tran
Australia will avoid a recession, says NAB CEO
Chief executive officer Ross McEwan says Australia’s economy is well positioned even if “it will continue to feel harder for some time”.
- Lucas Baird
- Analysis
- Australian economy
Why interest rate cuts are in sight
History shows that central banks often begin cutting rates before annual inflation falls back to target. Markets are now pricing in two cuts before the end of 2024.
- John Kehoe
Young renters to bear the brunt of personal insolvency surge
People aged 24 to 45 comprise the majority of people who declare personal insolvency, and a new wave is coming.
- Max Mason
Ex-RBA economist Luci Ellis wants to take credit
The Westpac chief economist observed the RBA’s 2023 forecast and joked, “I’m happy to take credit for that one”.
- Mark Di Stefano
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
The professor, his student and a decade of ‘serious misconduct’
The sacking of star economist Chris Edmond has rocked the establishment. Academics are seeking answers from one of the country’s top universities, and the RBA.
- Mark Di Stefano and Aaron Patrick
Chalmers backs in tax relief for bracket creep
The budget bottom line has been boosted by $39.6 billion over the four-year forward estimates since May, and is back on track for a surplus this financial year.
- Phillip Coorey and Michael Read
Iron ore above $US100 to deliver budget windfall next year
Market pundits say the government’s “too low” iron ore forecast – more than 50 per cent below current levels – will push the budget into a surplus.
- Joanne Tran
Markets trim rate cut bets before Fed meeting
Hotter-than-expected US inflation data fuelled speculation Federal Reserve chairman Jerome Powell will push back on rate cut expectations at the last meeting for 2023.
- Updated
- Cecile Lefort
- Opinion
- Monetary policy
Bullock’s interest rate communication job just got harder
The disclosure of RBA board votes and public remarks by board members will make it more challenging for Michele Bullock to control the central bank’s message.
- John Kehoe
Bullock says banks should bear more costs of moving banknotes
The RBA governor’s comments come amid negotiations with cash transport firm Armaguard, which has warned it needs an injection of funds to operate.
- Updated
- James Eyers
COP28 dumps phase-out; Miles to lead Qld; Worry for investors
Read everything that’s happened in the news so far today.
Bond funds set to break two-year losing streak
Australian fixed-income managers are on track to finally generate a return this year amid signs the Reserve Bank is done with raising rates.
- Cecile Lefort
Why this Pendal fundie says now is the sweet spot to buy bonds
Amy Xie Patrick has pulled money from stocks and high-grade credit, as history shows the best returns for bonds are made just after central banks stop raising rates.
- Joanne Tran
ASX to climb ahead of a big week of rate decisions
A robust US jobs report has done little to derail bond markets expectations that central banks will start to cut interest rates in 2024.
- Sarah Jones
