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Quick hits: Australia's 'admission of defeat' as India flips the script on day two in Perth
1732356066 from ABCAU
Things get dire enough for Australia that Marnus Labuschagne gets a bowl before tea, as India's openers remove any concerns over the Perth pitch. Here are the quick hits from day two of the first Test.
US Treasury Pick Bessent ‘Is a Fiscal Hawk’: Wall Street Reacts
1732324526 from BLOOMBERG
Hedge fund chief Scott Bessent’s Friday nomination to become the US Treasury Secretary is offering bond investors a glimpse into the incoming administration’s sweeping economic agenda after an extended search that included multiple prominent contenders.
Putin’s pipeline: How the Kremlin outmaneuvered Western oil companies to wrest control of vast flows of Kazakhstan’s crude
1732323569 from C ASIA
… Soviet Union, Kazakhstan is the largest country in Central Asia, and … disparities between foreign and Kazakh oil workers have fostered … can’t go into Central Asia without effectively paying bribes … think, but also what Central Asia thinks.” U.S. officials …
Chair Powell Likely To See Out His Term: Reiman, Rodriguez
1732305280 from BLOOMBERG
Nuveen Asset Management Head of Fixed Income Strategy Tony Rodriguez and UBS Global Wealth Management Head of Fixed Income Kurt Reiman both think the Trump administration will keep Fed Chair Powell through the end of his term in 2026. (Source: Bloomberg)
Dollar Cleanest Way to Play Trump Tariff, Tax Story: Mizuho’s Konstam
1732276356 from BLOOMBERG
Dominic Konstam, head of macro strategy at Mizuho, says the impact of President-elect Donald Trump’s tariff policy on the US dollar “could be substantial.” He speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
Australia, India gear up for Test series as prospect of rain raises questions over Perth pitch
1732137311 from ABCAU
Can Australia win the Border-Gavaskar Trophy for the first time in almost a decade? Or will India fire up after their loss to New Zealand to ensure all guns are blazing? Perth is ready to host the first Test in what shapes as a thrilling summer of cricket.
US Dollar touch higher on Wednesday with markets on edge over Nvidia
1732112257 from FXSTREET
The US Dollar (USD) has a very calm Wednesday and recovers further into the US trading session, with the DXY Index trading around 106.5, as market sentiment turns risk-on ahead of the Nvidia earnings release after the US closing bell. Overnight
Fed policymakers set to comment on policy outlook after Chairman Powell sets the tone
1732103705 from FXSTREET
Federal Reserve (Fed) Chairman Jerome Powell said in prepared remarks delivered at a Dallas event on November 14 that they don't need to be in a hurry to lower interest rates, citing ongoing economic growth, a solid job market and inflation that remains above the 2% target.
US Not Screaming for Stimulus says Citi Chief Economist
1732096660 from BLOOMBERG
The US economy "categorically" does not require rate cuts, says Citi Chief Global Economist Nathan Sheets. "It is not screaming stimulate me right now", he argues. Sheets expressed concern about President-elect Donald Trump's tariff proposals, warning "there are scenarios where you have significant upside pressure on prices." "The jury is still out," on the exact nature of the future administration's economic agenda, he says. (Source: Bloomberg)
Australian Treasurer Chalmers: Tumbling iron ore prices, softening labor market have hit government revenue
1732070640 from FXSTREET
After presenting his Ministerial Statement on the economy on Wednesday, Australian Treasurer Jim Chalmers said, "tumbling iron ore prices and a softening labor market have hit government revenue.” He discussed Australia's tough fiscal outlook due to weakened trading partner China and a softening job market.
Top Aussie banks join hands to combat fraud and scam in banking payments
1732067186 from BANKING
… Reuters) - Major Australian banks have partnered with BioCatch … at reducing frauds in banking payments, the Israeli digital … check their veracity as the banks' customers. BioCatch Trust … it had consulted internet, banking and telecommunications firms about …
Australia Budget Faces Smaller Revenue Gains, Less Corporate Tax
1732064400 from BLOOMBERG
Australia faces a more challenging fiscal outlook as key trading partner China cools and the local job market loosens, suggesting tax revenue upgrades will be smaller than in previous years, Treasurer Jim Chalmers said.
Australia pledges $50m for climate 'loss and damage' fund, ramps up Cop31 host bid - video
1732063835 from GUARDIAN
Australia and Turkey are both lobbying to host Cop31, the world's annual United Nations climate change negotiations planned for 2026. The climate change minister, Chris Bowen, said Australia wants to co-host Cop31 'in partnership with our Pacific family'. Bowen also announced a $50m contribution to loss and damage caused by the climate crisis. Paris agreement is working, Australian minister tells Cop29, but much deeper cuts needed by 2035 Chris Bowen makes last-minute diplomatic stop in Turkey as Australia ramps up bid to host Cop31 Continue reading...
Xi Urges ‘Care’ in Managing Australia-China Ties
1732055590 from BLOOMBERG
Hi folks, it’s Rich here in Melbourne. Here’s all the news you need to start your day...Today’s must-reads:• Xi Jinping urges care in maintaining Australia-China ties• The Treasurer is set to unveil new super rules• Australian women earn an average of 21.8% less than men
Mortgage nation. Australian retirees owe record amounts to the Big Four banks.
1732047131 from BANKING
… to the ‘Big 4’ banks than ever, including those … Commission into Misconduct in the Banking, Superannuation and Financial Services … assets at the time. Banks completely dominated the mortgage … mortgage market. The ‘major banks’ (as APRA collectively refers …
US Economy Very Resilient: Carmignac's Allier
1732027570 from BLOOMBERG
Marie-Anne Allier, fixed income fund manager at Carmignac, says she would not buy 10-year Treasuries at 4.5% and she still expects a 25 bps cut by the Federal Reserve in December. She spoke on Nov. 18 on "Bloomberg: The Opening Trade." (Source: Bloomberg)