Today
Glen Point Capital’s Neil Phillips found guilty of FX fraud
The former hedge fund executive faces a maximum of 10 years in prison but will have to wait until March 14 to hear his sentence.
- Chris Dolmetsch, Carter Johnson and Greg Farrell
ASX to slip; Wall St drops after mixed Microsoft and Alphabet results
Australian shares are poised to slip. Wall Street is falling after mixed profit reports from Microsoft and Alphabet. Oil was volatile.
Yesterday
Markets lock in pre-Christmas rate rise
Bond traders are certain of a cash rate increase by Christmas, implying a 50 per cent chance of a follow-up move.
- Cecile Lefort
ASX to rise, Wall Street lifted by data, earnings
Australian shares are set to open higher. Bonds steady after rout. Bitcoin rallies. Microsoft rises, Alphabet falls on quarterly results.
- Updated
- Timothy Moore
This Month
Cloudy economic outlook causes chaos in safe haven bonds
Ten-year US Treasury yields breached 5 per cent again before crashing, as investors reposition bets amid a muddied economic picture.
- Cecile Lefort
ASX to fall, bond volatility persists, Bullock speech on radar
Australian shares are set to open lower, tracking late session weakness in New York. US yields spiked higher, then tumbled. Bitcoin leaps.
- Timothy Moore
US stocks stumble on heightened Middle East tensions
US shares closed down, with investors wary of weekend geopolitical developments. Iron ore falls. Gold extends rally. ASX futures drop 0.9pc.
- Timothy Moore
Oil, bond yields soar on Middle East turmoil and rates anguish
Oil prices inched closer to $US100 on fears of supply disruption and the US 10-year bond yield broke 5 per cent on the belief that rates will stay high.
- Cecile Lefort
ASX futures, Wall Street whipsaw lower on Powell
The yield on the US 10-year spiked towards 5pc as the Fed boss signalled rates may need to rise if the economy’s strength persists. Telsa drops. Netflix surges.
- Updated
- Timothy Moore
Rising Middle East tensions advance bond sell-off
US and Australian bond yields soared to a decade high on growing concerns about the Israel-Hamas war spreading, taking the $A close to a one-year low.
- Cecile Lefort
Morgan Stanley FX head testifies bank restricts barrier trades
The investment bank does not permit spot trades intended to move the underlying rate or to trigger a barrier rate.
- Chris Dolmetsch and Carter Johnson
ASX to drop, oil rises, US bond yields advance
Australian shares are set to tumble 1.2pc. US 10-year yield tops 4.9pc. Netflix surges on subscriber boost. Tesla confirms margin hit. Jobs data pending.
- Timothy Moore
Glen Point trial reveals Morgan Stanley tried to buy back option
Morgan Stanley offered to buy back the option on December 18, 2017, starting at $US9 million. Three hours later, the bank said it was willing to pay $US13 million.
- Chris Dolmetsch and Carter Johnson
ASX to rise, Nvidia paces techs lower, US yields surge again
Australian shares are set to edge higher. US shares were modestly lower after strong retail sales bolstered rate bets. REA in the spotlight. Bullock to speak.
- Updated
- Timothy Moore
Westpac’s Ellis says RBA clues could point to tightening
Ex-RBA official, now Westpac economist, Luci Ellis believes the language changes in the RBA’s October minutes mean it may raise interest rates again.
- Cecile Lefort
Glen Point trial casts Morgan Stanley as hedge fund’s victim
The case against Phillips focuses on a frantic one-hour buying spree of the South African rand that began in the waning minutes of Christmas 2017.
- Greg Farrell and Carter Johnson
ASX to rise, Wall Street rallies on tech, oil eases
Australian shares are poised to rise. NZ CPI at 8.45am; RBA minutes at 11.30am. All three US benchmarks near 1pc higher. Bitcoin briefly tops $US29,000.
- Timothy Moore
Oil, bonds and gold consolidate gains as Middle East teeters
Oil had its biggest weekly increase since February and the $A stood near one-year lows as investors worried the Israel-Hamas conflict could spread.
- Updated
- Cecile Lefort
ASX to fall, RBA in focus, US reporting season accelerates
Australian shares are poised for an opening loss with geopolitics in focus, as well as oil and gold.
- Timothy Moore
- Opinion
- Bonds
Why the rush to safe haven assets isn’t likely to last
The question for investors is how to make sense of the volatility arising from the tension between the higher-for-longer interest rate environment, and capital flows to assets deemed safe during times of turmoil like war.
- Chris Dickman
