Johnny Shapiro

Sydney

Senior Reporter at Australian Financial Review

@FinancialReview journalist covering finance, markets and investing. Arsenal fan and dad. [email protected]

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Articles

Perpetual dividend under threat after clients pull $9b

3 days ago | afr.com | Johnny Shapiro

Apr 21, 2025 – 4.00pm or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? Wealth manager Perpetual may be forced to cut its dividend to pay down debt after another horror first quarter in which clients pulled almost $9 billion from its managed funds.
What Commonwealth Bank and Lloyds Bank tells us about the Australian sharemarket

6 days ago | afr.com | Johnny Shapiro

Apr 18, 2025 – 9.00am or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? In a presentation to investors last week, Regal’s Phil King put up a slide that compared Australia’s Commonwealth Bank to major British lender Lloyds Bank. On most measures, their financial metrics were identical.
Regal’s Phil King says his hedge funds will recover from March sharemarket rout

1 week ago | afr.com | Joanne Tran |Johnny Shapiro

Regal Partners will add two key executives to its investment committee and limit the size of positions its listed funds will take as it urges its backers to stick with a high-octane trading strategy after a double-digit loss. The firm’s veteran stockpicker, Phil King, fronted a strategy forum on Wednesday, telling investors that while he was disappointed about the last month, he was confident about the future and longer-term returns. Loading...
Big investors wield private assets to cushion returns from wild market

1 week ago | afr.com | Lucas Baird |Johnny Shapiro

The nation’s largest investment managers, including the big superannuation funds, are using private unlisted assets to shield their returns from the turmoil and volatility that have engulfed global equity markets after US President Donald Trump unveiled his sweeping tariff plans this month. With almost $300 billion wiped from the S&P/ASX 200 since early February – and steeper losses on Wall Street – markets have tanked, then roared back based on Trump’s erratic policy settings.
Market chaos from Donald Trump’s trade war leaves Wall Street traders questioning hopes and fears

1 week ago | afr.com | Johnny Shapiro

The week that was in markets will go down in history as among the most dramatic and significant, regardless of what happens next. Sharemarket volatility spoke to the extreme uncertainty of the global economy’s direction; the bond market pointed to a profound shift in capital flows. Investors are all wondering the same thing: will the Trump administration leave them better or worse off. Some see method in the madness.
China hits back with 125pc tariffs on US

1 week ago | afr.com | Andrew Tillett |Johnny Shapiro |Cecile Lefort

Prime Minister Anthony Albanese is being urged to hold the line on offering concessions to Donald Trump in return for tariff relief to avoid a flood of similar demands from other trading partners as China fired the latest shot in the rapidly escalating global trade war late Friday. China’s Finance Ministry said it would raise tariffs on US goods from 84 per cent to 125 per cent from Saturday after Trump confirmed the cumulative duties on Chinese goods had hit 145 per cent. Loading...
Bond markets left reeling as epic week scars traders

1 week ago | afr.com | Cecile Lefort |Johnny Shapiro

US President Donald Trump’s pause on trade tariffs, failed to stem a historic retreat of global investors from the United States bond market foreshadowing further falls in asset prices and rising borrowing costs, across the world including Australia.
The bond market teaches Trump the art of the squeal

1 week ago | afr.com | Johnny Shapiro

Skip to navigationSkip to contentSkip to footerHelp using this website - Accessibility statementIn 1993, Bill Clinton’s humbled chief of staff, James Carville, opened up to The Wall Street Journal after the then president was forced to abandon his ambitious spending plans when bond rates jumped from 5 to 8 per cent. “I used to think, that if there was reincarnation, I wanted to come back as the president or the pope or a .400 [big-hitting] baseball player,” Carville said.
This week, the world’s safe haven functioned like an emerging market

1 week ago | afr.com | Johnny Shapiro

This week it’s been a tale of two markets. Global equity markets has been in a state of chaos swinging from panic to relief and back to panic as US President Donald Trump wavered on tariffs but held the line on China. Meanwhile, the bond market has been defying Trump, with long-term yields nudging higher to worrying levels, forcing him to call a 90-day truce with trade partners. The usual flight to safety toward long-term US government bonds occurred at first but has since very much reversed.
Bond rout shakes investors as world’s safe haven losses its appeal

2 weeks ago | afr.com | Johnny Shapiro |Cecile Lefort

Apr 9, 2025 – 7.58pm or Subscribe to save articleSubscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe. Subscribe nowAlready a subscriber? Investors have aggressively dumped long-term US government bonds in a historic loss of faith in the financial market’s most coveted safe haven asset amid fears inflation caused by a global trade war could prevent interest rate cuts by the Federal Reserve.