‘Weight of money' in super is growing corporate debt market: AusSuper
An estimated $17 billion of cash floods into the $4.2 trillion retirement savings pool every three months and Don Russell, who oversees the $365 billion as chair of AustralianSuper, said more of this money was finding its way into the local bond market.
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AU Financial Review
32 minutes ago
- AU Financial Review
ASX set for steady start ahead of RBA rate decision
Australian shares are set for a cautious open on Monday ahead of a Reserve Bank meeting widely expected to deliver the third interest rate cut of the year. ASX 200 futures rose 5 points, or 0.1 per cent, after the index rose 1.7 per cent for the week on Friday. Financial markets have fully priced in a 25 basis point cut to 3.6 per cent on Tuesday, with a slim chance of a double cut. All 40 economists surveyed by Reuters expect a quarter-point move following a slowdown in core inflation to 2.7 per cent and a surprise rise in unemployment. Nomura's Andrew Ticehurst expects a 'unanimous' decision, saying last month's rate hold overstated inflation risks. But Bank of America's Nick Stenner said the RBA may push back on expectations of aggressive easing, citing strong private sector demand and lingering supply issues. Investors will also eye July labour data later this week, with forecasts for a 25,000 gain in employment and an unemployment rate of 4.3 per cent. Corporate earnings season continues, led by JB Hi-Fi on Monday and reports from Life360, AGL Energy, Commonwealth Bank, and the ASX in the coming days. Overseas, Wall Street posted solid gains on Friday, with the Nasdaq hitting a record high for the second straight day on Apple-led strength. US inflation data on Tuesday will be closely watched for signs of renewed price pressures.
Sydney Morning Herald
an hour ago
- Sydney Morning Herald
Brisbane news live: Appeal launched for 12-year-old last seen on Roma Street
6.54am While you were sleeping Here's what's making news further afield this morning: One hundred days in, how does the prime minister measure up? A right-wing activist group which came to prominence campaigning against the proposed Indigenous Voice to parliament, has launched a campaign to kill off 'weakling' Liberals who support the net zero climate target, heightening Coalition tension over energy policy. The Reserve Bank of Australia will begin its two-day deliberations later today ahead of an official interest rate decision on Tuesday, in which a cut is all but guaranteed. An interest rate reduction would mark the third this year, and follow a shock decision last month to deny relief to Australian home buyers and businesses. It comes after the June-quarter inflation figures showed headline inflation at its lowest levels since early 2021, while underlying inflation also eased. CSIRO researchers say they've developed a new algorithm that can block images from being used to create deepfakes, as Australian state governments scramble to criminalise sexually explicit AI-generated content. Labor is about to dump proposed new laws to regulate artificial intelligence as Prime Minister Anthony Albanese's caucus splits on whether to clamp down on the sprawling technology. And Israeli Prime Minister Benjamin Netanyahu has branded Australia 'shameful' in its advocacy for Palestinian statehood, 6.40am The top stories this morning Good morning, and welcome to Brisbane Times' news blog for Monday, August 11. Today we can expect a cloudy day and a top temperature of 22 degrees. In this morning's local headlines: Brisbane's Olympic Games organising committee faced an unexpected challenge in their bid to protect Games branding when a local council beat them to the trademark for 'Logan 2032' by just 13 days. Six people, including a woman in a critical condition, were hospitalised after a three-car collision in Logan on Saturday night, while another man was struck in a separate hit-and-run in Logan after a road-rage row. The NRL Integrity Unit has requested an explanation from South Sydney after star recruit Brandon Smith was stopped by police at Coolangatta airport ahead of his 150th NRL game on Sunday against the Titans. As an 11-year-old, several rare tumours were removed from Max Shearer's brain and donated to the Queensland Children's Tumour Bank for research into childhood cancer. Since then, the now 21-year-old has raised $150,000 for the foundation to help other sick kids. Six nights, three lodges: is this Queensland getaway Australia's most luxurious? And it was a mostly disappointing weekend for Queensland NRL and AFL teams. After the Broncos' injury-laden Thursday loss to the Storm, the Lions were pipped at the post by the Swans in an overcast Gabba thriller on Saturday, while the Dolphins were blasted off the park in a 52-point demolition by the Sydney Roosters – however, the Gold Coast Suns scored a win over Carlton. On Sunday, the Titans and the Cowboys suffered narrow losses, to the Rabbitohs and Eels respectively, but the
The Age
an hour ago
- The Age
Brisbane news live: Appeal launched for 12-year-old last seen on Roma Street
6.54am While you were sleeping Here's what's making news further afield this morning: One hundred days in, how does the prime minister measure up? A right-wing activist group which came to prominence campaigning against the proposed Indigenous Voice to parliament, has launched a campaign to kill off 'weakling' Liberals who support the net zero climate target, heightening Coalition tension over energy policy. The Reserve Bank of Australia will begin its two-day deliberations later today ahead of an official interest rate decision on Tuesday, in which a cut is all but guaranteed. An interest rate reduction would mark the third this year, and follow a shock decision last month to deny relief to Australian home buyers and businesses. It comes after the June-quarter inflation figures showed headline inflation at its lowest levels since early 2021, while underlying inflation also eased. CSIRO researchers say they've developed a new algorithm that can block images from being used to create deepfakes, as Australian state governments scramble to criminalise sexually explicit AI-generated content. Labor is about to dump proposed new laws to regulate artificial intelligence as Prime Minister Anthony Albanese's caucus splits on whether to clamp down on the sprawling technology. And Israeli Prime Minister Benjamin Netanyahu has branded Australia 'shameful' in its advocacy for Palestinian statehood, 6.40am The top stories this morning Good morning, and welcome to Brisbane Times' news blog for Monday, August 11. Today we can expect a cloudy day and a top temperature of 22 degrees. In this morning's local headlines: Brisbane's Olympic Games organising committee faced an unexpected challenge in their bid to protect Games branding when a local council beat them to the trademark for 'Logan 2032' by just 13 days. Six people, including a woman in a critical condition, were hospitalised after a three-car collision in Logan on Saturday night, while another man was struck in a separate hit-and-run in Logan after a road-rage row. The NRL Integrity Unit has requested an explanation from South Sydney after star recruit Brandon Smith was stopped by police at Coolangatta airport ahead of his 150th NRL game on Sunday against the Titans. As an 11-year-old, several rare tumours were removed from Max Shearer's brain and donated to the Queensland Children's Tumour Bank for research into childhood cancer. Since then, the now 21-year-old has raised $150,000 for the foundation to help other sick kids. Six nights, three lodges: is this Queensland getaway Australia's most luxurious? And it was a mostly disappointing weekend for Queensland NRL and AFL teams. After the Broncos' injury-laden Thursday loss to the Storm, the Lions were pipped at the post by the Swans in an overcast Gabba thriller on Saturday, while the Dolphins were blasted off the park in a 52-point demolition by the Sydney Roosters – however, the Gold Coast Suns scored a win over Carlton. On Sunday, the Titans and the Cowboys suffered narrow losses, to the Rabbitohs and Eels respectively, but the
