Sydney, Feb 25, 2026, 17:28 (AEDT) — The session wrapped up and markets are now closed.
- Macquarie clawed back some ground, finishing 0.3% higher after dropping 3.6% the previous session.
- Australia’s benchmark index closed at an all-time high, lifted by a rebound in tech stocks.
- Eyes shift to rate bets, credit risk, and Macquarie’s results slate for May.
Macquarie Group Ltd edged up 0.31% to finish at A$207.12 on Wednesday, a small gain following Tuesday’s steep drop. The stock moved between A$205.68 and A$208.05 during the session, though it remains far from last week’s peak. (Investing)
Momentum in Australian equities carried the S&P/ASX 200 to a new record—1.17% higher, ending at 9,128.30. Still, Macquarie didn’t keep pace, trailing a market that, at least in theory, tends to favor major financials. (Investing)
Inflation numbers dropped halfway through the session, keeping traders on edge about rate moves. The consumer price index climbed 3.8% year-on-year in January, matching December’s pace. Trimmed mean inflation, which filters out outsized shifts, edged higher to 3.4%, according to the Australian Bureau of Statistics. (Australian Bureau of Statistics)
Macquarie shares slid 3.6% Tuesday, battered as investors dumped stocks with any ties—real or perceived—to the AI frenzy and its flood of capital. The Australian pointed to a sell-off among U.S. tech-adjacent names. AMP chief economist Shane Oliver said global players were “rotating away from tech shares” amid mounting worries about valuations and how much companies are really spending. (The Australian)
No new company statement came through to account for Wednesday’s action. ASX records indicate Macquarie had nothing out on Feb. 25. (Australian Securities Exchange)
So investors are left to chase the story rather than comb through the filings — never simple with Macquarie. During the Feb. 10 operational update, Chief Executive Shemara Wikramanayake called December’s trading “satisfactory,” while the group pointed to a private credit book totaling A$28.9 billion and A$5.7 billion put to work over the quarter. (Macquarie)
Private credit covers a range of lending, but the core is straightforward—these are loans to companies that bypass public bond markets. Fee streams tend to be more consistent when conditions are favorable. But when risk sentiment dries up, these loans can quickly become hard to unload.
This is exactly why, for Macquarie, a single day of sliding U.S. software stocks can bleed into an Australian investment bank’s shares. Traders are busy dissecting how tighter funding conditions—or a potential slowdown in AI infrastructure—might hit lenders and asset managers with big bets on private markets.
But those same cross-currents can swing in either direction. A broader market rally and a bounce in tech at home steadied sentiment by the close — though Macquarie finished with just a modest uptick.
The risk argument is clear enough: inflation that refuses to budge keeps rates elevated, which can push up funding costs and weigh on deal volumes. Credit losses are usually a lagging effect. Any lender tied into the AI space also faces another wild card if spending there falters more sharply.
Mark your calendars: Macquarie will release its full-year results on Friday, May 8. The stock goes ex-dividend on Monday, May 18, so anyone buying after that misses the next dividend. (Macquarie)
