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US inflation shatters interest rate complacency Save Share The strongest monthly rise in US core consumer prices in almost 40 years shattered investor complacency over the prospect of ongoing very low interest rates, and rang the bell on valuations in the interest rate sensitive technology sector. US core consumer prices surged 0.9 per cent in April, the most since 1982, pounding global stockmarkets and reviving bond yields, as investors rapidly brought forward the expected timing of the first post-pandemic US Federal Reserve rate hike. News of rising US inflation had a savage and immediate effect on global markets. Phil Carrick âI think it does change things for most people,â said Justin Tyler, founder of Daintree Capital. Ahead of the data, a sense of complacency had crept into the market over inflation, he said, and investors had only expected a little heat in the CPI over the coming months. ....
ASX dividends to hit $73b as it rains upgrades Save Share Corporate Australia is on track to pay out $73 billion in dividends this financial year as analysts race to upgrade their forecast payouts, keeping pace with the stronger-than-expected economic recovery, and leading broker JPMorgan to declare a âdividend supercycleâ awaits. The magnitude of upgrades will go down as the biggest in 20 years for the Australian sharemarket. BHP smashed its interim dividend record by 55 per cent and shareholders will receive $US1.01 per share. Louie Douvis âItâs been an outstanding reporting season and revisions to the dividend outlook have been one of the features,â said Hasan Tevfik, senior research analyst at MST Financial. ....
CBAâs three hurdles to buybacks and bigger dividends Save Share Commonwealth Bank CEO Matt Comyn revealed the bank is facing three obstacles to share buybacks and even bigger dividends as it announced a $3.9 billion cash profit on Wednesday and around $10 billion in excess capital. CBA is poised to shower shareholders with as much as $2.7 billion in dividends in late March, after raising the first-half distribution by 53 per cent to $1.50 a share compared with the previous half. However, the payout ratio of 67 per cent is just below the bankâs target range of between 70 per cent and 80 per cent, and Mr Comyn said the boardâs intention is to continue the tradition of delivering a bigger second-half dividend. But a number of hurdles remain. ....