Melbourne-based Peak Equities will raise $42.5 million in capital to fund an $80 million portfolio of properties across Darwin, Perth and Adelaide.

Markets were lower as higher rate expectations weigh on equities, and Q3 earnings season continues with big business reporting numbers this week, writes Ian Slattery.

A rising gold price that touched US$1,228.60 an ounce on the spot market earlier today outshone a mixed period on equities markets.

The tumble in equities may go deeper than the correction earlier this year and investors should get ready to sell, according to a Budapest-based fund manager.

At Muller Precision Engineering’s plant in Redditch, south of Birmingham, James Gibbs is in charge of three clattering pieces of machinery older than he is.

U.S. government debt prices were slightly lower on Monday morning.

The yield on the benchmark 10-year Treasury notes, which moves inversely to price, was higher at around 3.1519 percent, while the yield on the 30-year Treasury bond was also higher at 3.3277 percent.

Bank of America on Monday beat analysts’ estimate for third-quarter profit and revenue as the nation’s second-largest bank set aside less than expected for loan losses.

Britain’s plan to strike trade deals around the world, a key plank of the government’s strategy for life outside the European Union, is unlikely to help the economy much, the country’s official budget forecaster said on Thursday.

• Citigroup reported strong third-quarter earnings Friday, beating analyst expectations and growing profit by 12%.
• Trading revenues were robust in aggregate, but equities momentum slowed, growing just 1% compared to the same period in 2017.
• Cash equities was fingered as the culprit, with losses overshadowing gains in the prime and derivatives businesses.
• “We just didn’t do as good a job navigating the choppy trading environment in cash equities,” CFO John Gerspach said.
• The stock-trading business, which had experienced growth in recent periods, was reorganized in March.

After a hot start to the year, Citigroup is showing signs of weakness in one its equities business lines.

When most of us think about safe-havens, the Swiss franc comes to mind. A pillar of historical strength and security, the Swissie is one of the go-to assets when financial waters become turbulent. In the midst of last week’s chaos in U.S. and global equities, one would think that the USD/CHF was in for a correction. This did not occur. Rates closed in the green for the third consecutive week.