Higher Bond Yields Attract New Scentre Bear -- Market Talk

Dow Jones01-27

0042 GMT - Mall owner Scentre is a newly bearish call of Macquarie as bond yields shift higher. Macquarie downgrades Scentre to underperform, from neutral, and cuts its price target by 12% to A$3.64/share as it factors in the impact of the upward movement in bond yields on capitalization rates and asset values. Scentre has outperformed the ASX 200 A-Reit sector by some 18 percentage points over the past 12 months as direct investor interest in malls thaws, Macquarie notes. Scentre is down 0.5% at A$4.09. (david.winning@wsj.com; @dwinningWSJ)

(END) Dow Jones Newswires

January 26, 2026 19:42 ET (00:42 GMT)

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Scentre has outperformed the ASX 200 A-Reit sector by some 18 percentage points over the past 12 months as direct investor interest in malls thaws, Macquarie notes. Scentre is down 0.5% at A$4.09. 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