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Local shares are poised to rise at the open.

ASX ends flat after hot CPI; economists up RBA rate rise bets

Australia’s September quarter CPI reading beats economists forecasts. Real estate stocks fall and iron ore miners rally. Follow updates here.

  • Updated
  • Timothy Moore, Joshua Peach, Joanne Tran and Cecile Lefort
Andrew Formica

Magellan chairman drops $100b ambitions as CEO departs

Magellan’s Andrew Formica has ditched outgoing chief executive David George’s ambition to restore the manager to $100 billion as he searches for a new CEO.

  • Jonathan Shapiro
The portfolio in VanEck’s Australian Equal Weight ETF is rebalanced every quarter, which facilitates “contrarian trading”.

When ETF ‘equal weight’ strategy goes off balance

The past five years have shown the simplest strategy of all – investing equal amounts in companies in an index – might not suit all markets.

  • Jeremy Chunn

This Month

Local shares are poised to open lower as risk aversion rises.

ASX rises; Lynas, Zip shares climb; Ansell drops

Shares finish higher as investors shrugged off wild movements in the bond market; Ansell says pandemic unwind still has a way to go; Bitcoin leaps through $US31,000. Follow updates here.

  • Updated
  • Timothy Moore, Joanne Tran, Cecile Lefort, Joshua Peach and Vesna Poljak
Ali Dibadj says rocky markets should be “nirvana” for an active manager.

Janus Henderson CEO’s three planks for risky markets

Ali Dibadj says uncertain markets are “nirvana” for the global asset manager, which is in the midst of a turnaround.

  • Updated
  • James Thomson
First Sentier’s Australian equities fund topped Mercer’s returns leaderboard for the 12 months to September 30.

Pricing power delivers First Sentier growth fund Mercer prize

Australian equities geared fund ranked No.1 despite the worst performance over the past quarter among Mercer’s top 10.

  • Updated
  • Joshua Peach
Bill Ackman has closed his bond short, warning of a slowing US economy.

How Bill Ackman set off a wild night on markets

The legendary Wall Street hedge fund billionaire announced that he had covered his short in a night of bond market turbulence where the 10-year Treasury yield hit 5 per cent before plunging.

  • James Thomson
Based on the last 10 years, it is clear that bond yields of 5 per cent are confronting, but they are still too low compared to inflation.

Interest rate rises test markets, but remember it is a long game

Over the next 12 months at least, fixed income returns will likely match and possibly exceed those of equities.

  • John Abernethy
When you add in a dysfunctional US congress and an approaching election plus continuing problems in China, it’s clear why the bears are again on the prowl.

The big spending that could keep the US out of recession

The doomsayers were wrong with dire predictions late last year – and they could be off the mark this time, too.

  • James Weir
Growing Middle East tensions have fuelled a record price in gold.

Profit outlook brightens on gold’s $A record

The gold price’s record high in Australian dollars arrives as the currency falls to US63.2¢ and domestic producers eye higher profit margins.

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  • Tom Richardson

Super fund QSuper hands back keys to NYC office tower

QSuper has quit a big bet on Manhattan real estate as rising interest rates and falling vacancies spoil its global property interests.

  • Jonathan Shapiro
Local shares are poised to drop.

ASX drops to one-year low as South32 disappoints

Shares tumble; Judo seeks $75 million hybrids, South32 flags 33 per cent drop in coal output; bond yields at 12-year highs; Immutep with positive trial results; Propel Funerals rejects buy offers.

  • Updated
  • Timothy Moore, Cecile Lefort, Joanne Tran, Joshua Peach and Vesna Poljak
Surging bond yields may have finally hit the ASX.

The ASX 200 has gone nowhere for 16 years

It’s not just bond yields testing levels not seen since just before the GFC. The ASX 200 is back where it was in November 2007, as Wall Street faces a crucial test.

  • James Thomson
China has agreed to a five-month review of its Australian wine tariff.

Treasury Wine investors brace for slow return to China shelves

The potential end of Chinese tariffs on Australian wines is buoying its shares. But a sales recovery to the mainland may take longer than some expect.

  • Joshua Peach
University of NSW senior lecturer Megan Evans says an offset market won’t help restore nature.

Biodiversity credits aim to help repair nature

The government is seeking to establish a nature repair market, with biodiversity credits creating a new asset class for investors.

  • Christopher Niesche
The RBA will scrutinise inflation data on Wednesday.

ASX to fall, weak $A worsens oil pain, rate hike fears

Australian shares are poised to fall 0.9 per cent at the return to trading on Monday, after suffering their worst week in four weeks amid the MidEast conflict.

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  • Cecile Lefort and Ronald Mizen
Sector heavyweight CSL has fallen over 20 per cent in the last six months.

Unloved healthcare stocks can reinvent themselves

Those betting on the demise of blue-chip healthcare stocks such as CSL and ResMed might want to rethink based on a review of Microsoft and Apple’s histories.

  • Jun Bei Liu

There’s good reason shareholders seem angrier this year

As boards come face-to-face with shareholders during AGM season, there’s a mix of old and new battles being fought.

  • Jonathan Shapiro
Howard Marks, co-founder of Oaktree Capital, sees a regime change coming.

10 of the best opinion pieces from this week

Wall Street icon Howard Marks makes one of the biggest calls of his career and the moment ANZ’s $2.5 billion deal crumbled. Here are 10 of the best opinion pieces from this week.

Keybridge Capital’s Nick Bolton.

Magellan to challenge Bolton push for a vote

Magellan wants the courts to decide whether activist Nick Bolton can call a meeting of unitholders in its $2.65 billion closed end fund.

  • Jonathan Shapiro