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Deal boom pushes ASX to record levels afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Fund managers back banks, value in tapering cycle afr.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from afr.com Daily Mail and Mail on Sunday newspapers.
Fundies fret over peak iron ore Save Share A sharp fall in the iron ore price, as China tries to jawbone down the cost of commodities, has fund managers on tenterhooks about whether the price of Australiaâs biggest export has peaked. The iron ore price spiked to a record high of more than $US230 a tonne earlier this month, far surpassing the $US55 a tonne price that the government has pencilled in for next year. William Curtayne says the global uptick in construction supports steel and iron ore demand. Louise Kennerley But the spot price fell $US11.13, or 5.3 per cent, on Friday to $US200.72, according to Fastmarkets MB, while S&P Global Platts said its key iron ore index fell $US10.75 or 5.1 per cent to $US200.10 on Friday. ....
Debt markets anticipate inflation will average in the mid-range of the Reserve Bank of Australia’s target range over the next 10 years, with forward-looking inflation expectation measures spiking in the last few days to a near-seven-year high. ....
Share A dovish tone from the Reserve Bank this week could push the local sharemarket to a fresh high, finally erasing the losses it suffered during the early months of the COVID-19 pandemic. A weak inflation figure last week has taken the pressure off the central bank, which is expected to reiterate its accommodative stance and point to the subdued pricing pressure as a key reason it will not expect to increase interest rates from record lows until at least 2024. Perpetual s Matt Sherwood. Dominic Lorrimer “I tend to think the RBA will keep its foot to the floor, and the noise we’re getting from the government too is they’re not going to lighten up either,” Perpetual’s head of investment strategy, Matt Sherwood, said. “We’re going full throttle.” ....