News
Shock comparable to 2022: Economists bracing for inflation despite fuel excise relief
2+ hour, 26+ min ago (163+ words) The federal government helped to relieve the immediate pressure of surging fuel prices on households by cutting the fuel excise temporarily in the immediate aftermath of the US-Iran war. This should help take the pressure off inflation in the short-term....
New Fed chair Kevin Warsh walks into possible rate hike trap
1+ day, 3+ hour ago (1114+ words) Capital Brief New Fed chair Kevin Warsh walks into possible rate hike trap Plus: Wall St in eighth straight week of gains; Andy Penn backs Sharon AI in interview; Gabbard joins growing list of Trump's departed chiefs. Good morning. Here's…...
Unemployment rate unexpectedly lifts to 4. 5% in April
2+ day, 21+ hour ago (316+ words) The news: The unemployment rate increased to 4. 5% in April, higher than average forecasts and the previous month's figure of 4. 3%, according to the latest data from the Australian Bureau of Statistics. However, in trend terms, the unemployment rate remained at 4. 3%. The…...
Westpac and Macquarie call time on negative gearing as big banks scramble to tighten lending
6+ day, 4+ hour ago (179+ words) Capital Brief Westpac and Macquarie call time on negative gearing as big banks scramble to tighten lending The federal budget has thrown Australia's biggest banks into a frenzy as they begin restricting property investors. Westpac and Macquarie have become the…...
Global bonds rocked by Iran war inflation shock
1+ week, 1+ day ago (800+ words) Capital Brief Global bonds rocked by Iran war inflation shock Plus: Trump says Taiwan deal in question after meeting Xi; Space X pulls forward IPO timeline; DOJ turns up heat on Black Rock private credit valuations: Bloomberg. Good morning. Here's…...
Australian shares to edge lower after mixed Wall St session
1+ week, 3+ day ago (298+ words) The news: The Australian sharemarket is set to open lower despite Wall Street closing higher on Wednesday, as a rally in tech stocks overshadowed persistent inflation concerns that reinforced expectations that the Federal Reserve will keep rates higher for longer....
PC chair Dani Wood backs "really compelling" budget but market economists want more reform
1+ week, 3+ day ago (244+ words) Capital Brief PC chair Dani Wood backs "really compelling" budget but market economists want more reform Measures in the budget long championed by the Productivity Commission to slash red tape have been largely overlooked. They could be the first step…...
CBA shares plunge to pandemic lows after Q3 earnings miss estimates
1+ week, 3+ day ago (514+ words) More news: Shares in Commonwealth Bank suffered the biggest fall since March 2020 after the bank recorded a $316 million loan impairment charge in response to elevated macroeconomic uncertainty and a lower quarterly net profit. Shares tumbled 9. 73% to $154. 87 at 12: 57pm AEST. UBS analyst…...
Consumer confidence hits record low following RBA rate hike: ANZ
1+ week, 4+ day ago (128+ words) The news: Consumer confidence fell to 64. 1 points last week, with the four-week moving average edging 0. 1 points lower to 65. 9 points following the RBA rate hike, according to the latest data from ANZ-Roy Morgan. The context: ANZ economist Sophia Angala noted these…...
Budget to show lower deficits each year over forward estimates, Chalmers says
1+ week, 5+ day ago (286+ words) The news: Treasurer Jim Chalmers says the federal budget will show lower deficits each year over the forward estimates, something he claims is driven by "spending restraint. The context: Chalmers will hand down his fifth budget on Tuesday evening, with…...