ANZ Financial News

Oil prices were mixed on Tuesday as support from China's measures to shore up its economy vanished, offsetting expectations of an extension in supply cuts by two leading OPEC+ members Saudi Arabia and Russia Brent crude futures for November fell 10 cents, or 0.11%, to $88.90 a barrel. U.S.

Judo Bank is preparing to tap the securitisation markets for the first time with a $350 million to $500 million deal as it looks to diversify its traditional funding mix of deposits and bank warehouses.

Oil prices were set to snap a two-week losing streak as they rose for a fourth consecutive session on Friday due to tightening supplies and expectations of the OPEC+ group of oil producers extending output cuts to the end of the year. Major benchmarks rose slightly in early Asian trade, with the U.S. West Texas Intermediate crude (WTI) up 7 cents, or 0.1%, at $83.70 a barrel, while Brent crude was also up 7 cents at $86.90/bbl as of 0107 GMT. Analysts expect Saudi Arabia to extend a voluntary oil production cut of 1 million barrels a day into October, adding to cuts by the Organization Petroleum Exporting Countries and allies, known as OPEC+. «We continue to expect cuts to be extended, with prices above US$90/bbl (on a sustained basis) required to draw OPEC supply back to market, as well as incentivize U.S.

personal loans to help stimulate the flagging economy. The People’s Bank of China has cut a key lending rate twice in the past year and commercial banks have trimmed loan benchmarks that are used to price mortgages and other debt. Those moves have come at a significant cost to lenders.

Australian Banking Association chief executive Anna Bligh says over-regulation of the financial sector is strangling smaller lenders with compliance costs and making it tougher for them to compete with the big four banks.

Indiabulls Housing Finance share price has risen 26.3% in the last five trading sessions after the company has repaid ₹1,112.5 crores of bonds this week. On Wednesday's session, Indiabulls Housing shares closed at ₹193.25 apiece on BSE, up 2.52%. In August, Indiabulls Housing Finance stock price surged nearly 35%, which is the largest monthly gain since June 2020.

Private-capital backed mine site power business Zenith Energy has lined up a $320 million debt deal from a mix of existing and new lenders, as APA Group’s $1.7 billion acquisition of Alinta’s West Australian remote power assets kicks up interest in the sector.

The head of big bank ANZ has said the federal government’s intervention in blocking Qatar Airways flights to keep the national carrier Qantas profitable was “disturbing”.

weaker than expected, and property developers are caught in an unprecedented wave of defaults and restructurings. China’s trusts, which channel funds from investors to infrastructure, property and other opportunities, are exposed to both developments. Although Xinhua’s bankruptcy has been relatively straightforward, a bigger blow-up may be on the way at Zhongrong, one of the country’s largest trusts, which missed payments to clients in mid-August.

By Florence Tan and Sudarshan Varadhan

SYDNEY (Reuters) — Australian retail sales rebounded in July after a sharp fall the previous month, but the annual rate slowed further, a result that should not upset the outlook for interest rates as high borrowing costs work to slow consumer spending.

Dual listed telecommunications business Chorus Limited has mandated ANZ, Citi, and Westpac to drum up interest in a potential seven-year medium term note.

ANZ said it expects its $4.9 billion acquisition of Suncorp’s banking arm to be completed by the middle of next year after it formally lodged an appeal to the consumer watchdog’s decision to block the deal on the basis that it would reduce lending competition.

The Reserve Bank of Australia (RBA), the country’s de-facto central bank, released the findings of its central bank digital currency (CBDC) pilot project, which has the potential “to support increased efficiency and resilience in some areas of the payments system.”

Wednesday shaped up as a big day in the bond market with a range of deals coming to market.

The Reserve Bank of Australia says a central bank digital currency could increase “efficiency and resilience in some areas of the payments system”, but warns more research is required to deal with legal, regulatory, technical and operational issues to ensure any eAUD operates safely.

bond investors have been cutting down exposure to some of their most widely held long-term Indian government bonds amid a deepening rout in international fixed-income markets and the strengthening belief that interest rates would remain higher for longer. In the fully accessible route (FAR) for government securities, the aggregate holding of foreign investors in their most favoured long-term bond has fallen by ₹1,192.6 crore over the past couple of months even as investment in other securities has remained broadly steady. As on August 18, the aggregate holding of foreign portfolio investors (FPIs) in the 7.26%, 2032 government bond — an erstwhile 10-year benchmark security — accounts for 5.37% of the bond's outstanding stock of ₹1.48 lakh crore, down from 6.17% on June 19, Clearing Corporation of India data showed. The 7.26%, 2032 bond is one of the three most widely held bonds by FPIs in the FAR category, which does not have any limits on foreign investment. Longer-term securities pose a greater degree of risk on bond portfolios. Overall foreign portfolio investment in the general category for central government securities has also dwindled, having fallen by ₹5,790 crore so far in 2023. «On the FPI investments in fixed-income, given where the US interest rates are, any other fixed-income market is not looking that attractive right now.

National Australia Bank’s latest hybrid issuance had gathered $1.45 billion in bids by 8am Tuesday morning, as investor demand outstripped the $1 billion expected deal size at launch.

Oil prices were steady on Monday with Brent staying above $80 a barrel, as investors balanced tightening supply driven by OPEC+ cuts with nagging concerns about global demand growth amid high interest rates. Brent crude dipped 8 cents to $84.72 a barrel by 0033 GMT while U.S. West Texas Intermediate crude was at $81.28 a barrel, up 3 cents.

Oil prices fell in early trade on Thursday, extending losses to a fourth consecutive session on fears of slowing growth in China and possible further U.S. interest rate hikes weakening fuel demand in the world's two biggest economies.

(Reuters) — ANZ Group Holdings said on Thursday late mortgage repayments past 90 days edged higher in the June quarter but were still below historic levels while logging higher customer deposits in a stiff market.