About Macquarie Group

Yahoo Finance, a primary hub for financial news, market insights, portfolio management resources, international business updates, and more, recently featured an article detailing the optimism on Wall Street following the reelection of Donald Trump. The story, written by esteemed host and reporter Madison Mills, was published on Monday 18 November 2024 and provided an analysis of how the reelection could potentially impact businesses and markets.

Mills highlighted the upbeat sentiment prevailing among financial experts as they anticipate good times to follow. Marc Rowan, Apollo Global's (APO) co-founder and CEO, was quoted speaking at Yahoo Finance’s Invest conference. Interestingly, Apollo Global also happens to be the owner of Yahoo Finance.

Rowan, who is being considered for the position of Secretary of Treasury in the Trump administration, confirmed that the market's positive reaction to the political turn of events reveals an optimistic outlook.

Rowan stated, "I think this administration has a remarkable chance to really pivot the country to take advantage of all the inherent positives that we have.” Following the election results, the S&P 500 saw a monumental surge, soaring above the 6,000-mark, the highest post-election melt-up observed to date. Financial analysts have attributed this to Trump's proposed policy changes — making tax reductions permanent and easing regulations.

Nevertheless, some are warning against overlooking the potential negative impact of tariffs, which could create headwinds for the market rally. According to data from Bloomberg Economics, if Trump's proposed 60% tariff on Chinese imports is implemented, it could result in a dip in profit margins and stock prices. This is mainly due to the fact that the leading 100 companies in the S&P 500 by market cap source approximately 8% of their revenue from China on average.

On their Opening Bid podcast, Yahoo Finance discussed these concerns with the chief US economist at Deutsche Bank, Matthew Luzzetti. Karen Karniol-Tambour, co-chief investment officer at Bridgewater Associates, also expressed concern, warning that the proposed immigration restrictions and an increase to the deficit by the Trump administration could fuel inflation.

Nevertheless, despite these potential risks and inflated equity multiples, Rick Rieder from BlackRock remained bullish, stating, “The technicals for equities are crazy, crazy good.” In conclusion, the market’s belief in a possible soft landing driven by a Federal Reserve easing cycle seems to be reinforcing the optimistic sentiment.

However, Judy Shelton, a Trump-appointed former economic adviser to the Fed, questioned this faith by pointing out the lack of accountability within the Fed amidst the worst inflation in 40 years. The article provides comprehensive coverage of various perspectives and thoughtful insights into how the recent political shift could unfold in the economic realm.

In its essence, Yahoo Finance consolidates diverse viewpoints and data-driven financial information to facilitate informed decision-making.

Growth

Having been around for several years, Macquarie Bank is no longer in the startup or scale-up phase. It has significantly grown, with a recent surge in market capitalization, which has enabled it to join the ranks of the Big Four banks. However, in terms of business size and customer base, it is still the smallest compared to the Big Four. Macquarie's primary focus is on asset management, but it also has retail banking interests.

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Achievements

A key milestone in Macquarie Bank's history is the recent growth in market capitalization, propelling the bank to the second largest in market cap among the Big Four plus Macquarie. However, the bank is still the smallest in terms of business and customer base. In the last financial year, Macquarie’s profits were around $3 billion, which is about half of what ANZ made. Macquarie's primary focus is on asset management, rather than retail banking.

Case Studies

One of the major factors contributing to Macquarie's recent success includes its diversified business model, focusing primarily on asset management rather than retail banking. This decision to concentrate on high-value industry has seemingly paid off, with its market capitalisation outpacing other more traditional banking entities. However, it should be noted that despite this success, Macquarie is still the smallest banking business amongst the Big Four.

Experience

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