Podcasts about UST

On this week's show we look into our crystal ball to see what is on the Home Theater Horizon. We also read your emails and take a look at the week's news. News: 2026 Value Electronics TV Shootout: Samsung Snaps Sony TV Streak CarPlay video coming with iOS 27 WGA Seeks Injunction to Block Deal's Closing What is on the Home Theater Horizon Home theater technology is advancing quickly and the trend is moving toward wireless setups, brighter and more flexible displays, AI-powered calibration, immersive spatial audio, and simpler high-end installations. Today we take a look at what we can expect over the next couple of years. Displays: Brighter, Wireless, and Modular Ultra-thin wireless OLEDs: LG's OLED evo W6, also called the Wallpaper TV, is part of their 2026 evo lineup. It's incredibly thin — just 9 millimeters thick — and features a true wireless design. All your devices plug into a separate Zero Connect Box that can sit up to 10 meters away. The box then sends 4K video and audio wirelessly to the TV with almost no quality loss. The TV also includes Hyper Radiant Color Technology. This delivers much higher brightness — up to 3.9 times brighter than standard OLEDs — along with deeper black levels and fewer reflections. For gamers, it supports 4K at 165 Hertz, G-SYNC, and very fast response times. MicroLED and RGB advancements: MicroLED displays — including variants like Micro RGB or TriChroma — are becoming popular for luxury home theater setups. They deliver perfect blacks like OLED screens, but with much higher brightness, no burn-in risk, and modular designs that let you create custom sizes, such as 136-inch or even larger cinema walls. Brands like LG with their MAGNIT Active Micro LED, Samsung, and Sony are leading the way, offering seamless, cinema-certified picture quality. Consumer versions are still quite expensive — often six figures for a full wall — but they're becoming more realistic and affordable over time. Mini RGB: These TVs are poised to be a big hit because they combine the best of both worlds: the perfect blacks and contrast of OLED with the extreme brightness, longevity, and modular flexibility of MicroLED-style RGB technology. By using advanced Mini RGB LED backlighting, Mini RGB delivers stunning HDR performance, vibrant colors, and seamless large-screen designs ideal for luxury home theaters — all without burn-in worries. Sony's reputation for premium picture processing, cinema-grade calibration, and build quality gives their Mini RGB  a clear edge over competitors, making these TVs the top choice for serious enthusiasts who want theater-like visuals that will stay impressive for years to come. Projectors: Triple-laser UST (ultra-short-throw) and standard models dominate, with brighter outputs (thousands of ISO lumens), wider color gamuts (e.g., 110% BT.2026), Dolby Vision support, and 4K/8K capabilities. Examples include XGIMI Horizon 20 Max, AWOL Vision LTV-3000 Pro, and Hisense models. Laser is now the baseline for premium performance. Audio: Wireless Immersion and Modular Systems Wireless multi-speaker ecosystems: Dolby Atmos FlexConnect is rolling out more widely including the LG Sound Suite. This enables cable-free speaker placement with accurate panning. Sony's BRAVIA Theatre lineup (Trio, Bar 7/9, etc.) emphasizes modular wireless components with 360 Spatial Sound Mapping, phantom speakers (up to 24 channels), and room calibration. Advanced AVRs and processors: Denon, Onkyo, and others offer higher-channel support (9.4+), Dirac Live/Audyssey calibration, and AI room tuning. Multi-channel processors use Audio over IP for fewer wires in custom installs. Immersive extras: Haptic furniture, synchronized smart lighting using the  Philips HDMI Sync Box 2.1, and AI acoustic optimization for real-time adjustments. Other Notable Trends AI integration: Automatic calibration, content optimization, and adaptive environments including  room mapping for sound and light.. Hybrid/immersive rooms: 360-degree or wraparound video with spatial audio, plus premium formats inspired by commercial cinema (laser projection, higher baselines like 7.1+ with height channels). Lifestyle focus: Movable displays, aesthetically integrated speakers, mainly acoustically transparent designs, and easier setups for non-dedicated rooms. There are some exciting technologies shaping the next couple of years in home theater. Displays are getting brighter, thinner, and more flexible with ultra-thin wireless designs. High-performance UST laser projectors will bring huge screens to rooms where it was never possible before. And the shift toward truly wireless, immersive audio will fill any room with rich, room-filling sound. Best of all, your entire system will adapt to your room with the touch of a button!

Nic and Matt are back for another week of news and deals. In this episode:  The Fat Model Thesis Are OAI and Anthropic in real trouble with Kimi? The Bitcoin Security Consortium is announced to tackle quantum risk Galaxy announces their Quantum Readiness Initiative Clarity is beleaguered in Washington Polymarket and Kalshi keep feuding The SEC settles with Coinbase over Gensler's lost text messages We uncover some new documents revealing that Genesis inadvertently kicked off the UST depeg Jack Mallers leaves the XXI Capital DAT Movement Labs declares bankruptcy BitMEX finally winds down their exchange Balaji's Network State is unceremoniously evicted from of Malaysia The SEC warns about crypto vaults Matt comes around on soccer

The bond market just broke a major correlation at a particularly crucial moment. As the Warsh Fed sets out to stamp its mark on the market, the market is already stomping the narrative and doing so in a highly unusual way. UST & WTI have split up, with more than the Fed getting caught up in the burgeoning divorce. Eurodollar University's Money & Macro Analysis----------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider----------------------------------------------------------------------------------If you want to see The Four Economic Regimes, and How to Position Your Portfolio for Each One, sign up here https://eurodollar-university.com/home-page----------------------------------------------------------------------------------https://www.cnbc.com/video/2026/07/16/pending-home-sales-june.htmlhttps://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDUI'll also be active on Bravais Social - a new AI-centered social network designed for professionals and knowledge workers. The platform aims to bring together a wider range of tools and functionalities tailored specifically for professional interaction, research, and knowledge exchange in one place. You can find me here: https://bravais.social/profile/edu

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the Yemeni Houthis have announced a naval blockade against Saudi Arabia but effectively closing the Red Sea. Elsewhere new mediation efforts are underway again. In the US, the Conference Board's leading indicator tracking turned negative in June. The shift down isn't a lot because it wasn't very positive in earlier months. But it is consistent with the Atlanta Fed's GDPNow tracking showing an exhaustion of the pace of the US expansion. Off balance sheet debt at the big US tech giants is exploding, making investment assessments harder to make. It is now an estimated US$1.65 tln as artificial intelligence investments ballooned, a Nikkei study shows, and now exceeds actual reported debt. The problem is particularly acute at Meta. These companies are about to report Q2-2026 results and these debt levels are sure to become an issue. The main way these debt obligations stay off balance sheets is via "innovative" lease transactions centered around timing issues. And US Big Tech valuations are also under threat from Chinese alternatives, especially the relatively new Moonshot K3 version. It is hard not to to get a sense that financial markets are facing a revaluation crisis in the tech sector. In Canada, their CPI inflation rate came in at 2.8% in June, with a core rate of 2.1%. Both these measures were lower than in May and slightly lower than expected. The Malaysian export boom is carrying on (+45% from June a year ago), especially for electronics (+57%) and petroleum (+56%), and especially to the US (+109%). But they needed all of that because imports surged sharply too, up 44% from a year ago. The People's Bank of China kept its key lending rates at record lows for a 14th straight month in July, as widely expected. The one-year loan prime rate (LPR), the benchmark for most corporate and household borrowing, was held at 3.0%, while the five-year LPR, a reference rate for mortgages, remained at 3.5%. However, rate cut expectations are rising there as their domestic economy slows. German producer prices were up a modest +1.8% in June from a year ago, similar to the prior two months. But this new level is in contrast to the PPI deflation they had reported for the earlier twelve consecutive months. A number of major countries are struggling to contain the devaluation of their currencies against the US dollar. Japan is seeing its currency at its weakest level since 1996. India is seeing levels back to near the record lows they had in mid-May. And Indonesia is battling record low levels as well. All these are major economies and all are trying to work what level of higher interest rate differential is needed to stabilise their situation. This is just part of a rising interest rate background, not helped by the prospect of higher US interest rates from their inability to tackle inflation effectively. The UST 10yr yield is now just on 4.60%, up +4 bps from this time yesterday.  The price of gold has slipped to US$4003/oz, down -US$14 from yesterday. Silver is now just under US$56.50/oz, up +50 USc from yesterday. Oil prices are +50 USc firmer from yesterday at just under US$83/bbl in the US, while the international Brent price is now just under US$89/bbl. Hormuz transits are still just a trickle There have been just 1 crude tanker and 5 cargo ships exiting over the past 24 hours (4 dark with transponders off) and 8 entering for new loads (8 dark) and all this traffic is Iran-linked. The Kiwi dollar is marginally firmer from yesterday at just under 58.5 USc. Against the Aussie we are down -20 bps at 83.5 AUc. Against the euro we are up +10 bps at just on 51.2 euro cents. That all means our TWI-5 starts today at 62.3 which is unchanged from this time yesterday. The bitcoin price starts today at US$65,541 and up +1.6% from this time yesterday. Volatility over the past 24 hours has been modest at just over +/-1.4%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news it is a good job we have sports to allow us a temporary distraction from the geopolitical mess that the US has initiated and which seems to just go on and on. A shut Hormuz and a jump in oil prices is bringing Groundhog Day. Back in the economic world, Tuesday's June CPI release will dominate this week's local data releases. Markets expect an elevated 4% rate, keeping the pressure on the OCR and the RBNZ to contain it. Events in the Middle East aren't helping. The next OCR review is not until September 2 however. In Australia, it will be all about their June labour market release. Markets expect only modest jobs growth and no jobless rate change. But developments between the US and Iran will remain in the global spotlight after strikes escalated, impacting energy prices and interest rate outlooks for central banks. There is not much market-moving economic data expected from the US this week. But earnings season results will be watched for indications and surprises. In Japan, they will release trade and inflation updates (1.6%?). Taiwan will be interesting for its industrial production data. Korea for its Q1-2026 GDP outcome. And Indonesia will review its policy rate again, after the unusual interim hike, and then taking it to possibly 6%. For them it is all about supporting their weakening currency. There is little significant data out of China this week. However, here's something we haven't covered so far. Their June trade data for China shows that its crude oil imports are now at a ten year low. In fact their June crude oil imports were -11.4% lower than a year ago in volume terms. It is a shift that will have global implications. We can also note that China closed nearly 30,000 kindergartens and primary schools in 2025. It is the consequence of the growing demographic slump we have been noting for some time. Recent data released by the Ministry of Education revealed a severe structural divergence: while early childhood and primary education are shrinking rapidly, high schools and universities are expanding to absorb a demographic bulge from earlier birth peaks. Three Chinese airlines have ordered 95 Airbus commercial jets. This has swelled Airbus's non-US order book over rival Boeing. Airbus (89) delivered more aircraft than Boeing (64) in June. Boeing is losing market share fast for clients outside the US, no doubt a direct consequence of reactions to nativist policies from Washington and risks of trade retaliation. Singapore's export growth fell back sharply and unexpectedly in June. Electronics exports remained elevated, but non-electronics exports were unusually weak in the month. Their big decliners were for petrochemicals, food, and non-monetary gold. Trade with the US was especially hard hit. Across the Pacific in Canada, the spread of their enormous wildfires are becoming an international irritant. Canada is struggling to contain them. In an unusual move, the US is refusing to assist, even though Canada sends crews and support to the US when they have wildfire emergencies. There are also major wildfires in many US states as well. In the US housing starts in June which came in +3.6% higher than year ago levels and brushing off their unusually weak May report. But for all the positives that some Fed district factory surveys have shown, these are not showing up in US industrial production data yet. You might have thought the increased local stockpiling surge would be visible by now. But to June, it isn't. US industrial production rose a paltry +0.1% in June to be +1.1% higher than a year ago. And that is its weakest increase in three months. Although consumers are still very negative in their sentiment, there was a notable improvement in the latest survey results from the widely-respected and long running University of Michigan consumer sentiment survey. With the second straight month of 10% jumps, consumer sentiment climbed to its least negative reading since February of this year on the basis of easing price pressures at the petrol pump in recent weeks. All five index components improved, led by significant 20% increases in buying conditions for durables as well as year-ahead business conditions. This month's rise in sentiment was consistent across the population, seen across groups by age, income, wealth, and political party. Will it last? If it truly is directly related to pump prices, then this weekend's outsized jump in crude oil prices (below) and the turn up in pump prices in the past few days, suggests not. Today's pump prices are almost back to month-ago levels when the sentiment survey hit its record lows. Looking backwards over the past month, US data has seen improvements. But these have not been enough to return the Atlanta Fed's GDPNow tracking to where it was in May, so a sharp downshift is still in place. And it is worth noting that 'consensus forecasts' by mainstream economists have not yet reflected that retreat. The RBNZ also produces a GDP nowcast. After a somewhat unexpected blip up two weeks ago, the latest data has returned our Q2-2026 growth to a minimal level. The same for Q3-2026. (There is no Aussie GDP nowcast from an official institution. The Melbourne Institute version won't be updated until the end of the month.) In Australia, the latest weekend's residential auction activity was low, possibly back to levels they had in 2018. They are finally having the housing market correction necessary to address their affordability problems. The UST 10yr yield is now just on 4.55%, unchanged from this time Saturday, down a net -2 bps for the week.  The price of gold has risen to US$4017/oz, up +US$12 from Saturday but down -US$83 from a week ago. Silver is now just under US$56/oz, down -US$3.50 for the week. Oil prices are +50 USc firmer from Saturday, up +US$3.50 from Friday at just on US$82.50/bbl in the US, while the international Brent price is now just over US$88/bbl. A week ago these prices were US$71.50 and US$76 respectively so a +16% rise since then. Hormuz transits have been reduced to a trickle overnight There have been just 2 crude tankers and 7 cargo ships exiting over the past 24 hours (4 dark with transponders off) and 9 entering for new loads (6 dark) and almost this traffic isl Iran-linked. The Kiwi dollar is unchanged from Saturday at just under 58.4 USc but up +80 bps for the week. Against the Aussie we are still at 83.7 AUc. Against the euro we are also holding, at just on 51.1 euro cents. That all means our TWI-5 starts today at 62.3 which is unchanged from this time Saturday, up +80 bps for the week. The bitcoin price starts today at US$64,542 and up +0.8% from this time Saturday, up +1.4% from a week ago. Volatility over the past 24 hours has been low at just over +/-0.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the US-Iran conflict seems to be intensifying. Market responses don't reflect that yet however. In the US, initial jobless claims rose last week to 245,000 but this was less of a rise than seasonal factors can account for. There are now 1.85 mln people on these benefits, less than year-ago levels. US retail sales were up a healthy +8.4% in June from a year ago but virtually unchanged from May. If you take out cars and petrol, then the rise is +5.7% from a year ago, and a fall from May. Still good, but boosted by their claimed +3.5% inflation. Online sales of electronics goods were particularly strong, suggesting buyers were looking to get ahead of tariff and trade impacts. Meanwhile, new order levels reported in the Philly Fed's July factory survey were impressive. But this came with a fall-away in sentiment about the future, and with unusually high input cost inflation. More signs of stockpiling behaviour. And US petrol prices are rising again. US homebuilder sentiment fell in July in the NAHB survey. Not by a lot, but keeping it in the depressed state this sector has been in since the pandemic. They have an input cost problem too. The other side of this industry is in lackluster conditions too. Pending home sales fell in June from May, and came in slightly lower than year-ago levels. That was their biggest retreat in six months. The weakness was broad based across the whole country. In Canada, their June housing starts were -13% lower than year-ago levels. These were weak in Vancouver with a big fall-off in multiunit construction, but quite strong in Toronto. In Korea, their central bank raised its policy rate yesterday, raising it from 2.5% to 2.75%. This was as expected however. It was their first rise in more than three years as it grapples with inflationary pressure at least partially stemming from a faster economic expansion. Their previous change was a cut of -25 bps in May 2025. In Australia, the respected Melbourne Institute survey of inflation expectations has come in with a 4.7% July result after it's 5.5% in June after topping out at 5.9% in April. Australia's official inflation was 4.0% in May after topping out at 4.2% in April. Their June CPI is due to be released on Wednesday, July 29. Global container freight rates stayed very high last week even though they dipped -2% from the prior week. That leaves them +75% higher than year-ago levels. Meanwhile bulk freight rates were little-changed over the past week to be +55% higher than year-ago levels. The UST 10yr yield is now just on 4.57%, up +3 bps from this time yesterday.  Wall Street has started today with the S&P500 down -0.7% and the Nasdaq down -1.6%.  The price of gold has fallen to US$3984/oz, down -US$78 from yesterday. Silver is now just over US$55.50/oz, down -US$2 from yesterday. Oil prices are little-changed from yesterday at just on US$79/bbl in the US, while the international Brent price is still just under US$84.50/bbl. Hormuz transits have stayed low overnight There have been just 3 crude tankers and 8 cargo ships exiting over the past 24 hours (3 dark with transponders off) and 18 entering for new loads (5 dark) and almost all Iran-linked. More ships are exiting the Red Sea now, but much fewer want to enter. This rush out may be because Iran has told the Houthis to close the waterway if the US strikes Iran's civilian electricity network. The Kiwi dollar is down -20 bps from yesterday at just under 58.4 USc. Against the Aussie we are unchanged at 83.5 AUc. Against the euro we are also little-changed at just over 51 euro cents. That all means our TWI-5 starts today at just on 62.2 which is down -20 bps from this time yesterday. The bitcoin price starts today at US$64,111 and down -1.3% from this time yesterday. Volatility over the past 24 hours has been low at just under +/-1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news there is a growing sense that the world is close to running on empty the longer the US-Iran flareup carries on. But markets are ignoring that risk. In the US producer prices fell -0.3% in June from May, marking the first decline since August 2025 and an unexpected dip. A sharp decline in energy prices is getting the credit and the fact that energy risks are still around is being ignored. From a year ago US PPI was up +5.5%. Without that, the core index rose +0.2%, to be +4.7% higher than a year ago. The New York Fed's Empire State Manufacturing Index jumped 10 points to +15.6 in July 2026, signaling a significant pickup in business activity across New York State. Price increases remained elevated and supply availability continued to worsen, they said. The region is in a stockpiling mode, still expecting more cost impacts from tariffs. (Although the New York Fed boss indicated they are looking through these likely impacts. However, not every Fed member is so sanguine.) The July Fed Beige Book reported "modest to moderate" activity, with prices rising, with greater price sensitivity among consumers. US crude stocks fell again although not be as much as was expected this week. Their strategic reserves show not letup in their draining track. Across the northern border, the Bank of Canada left the target for its overnight rate unchanged at 2.25% for a sixth consecutive decision in July 2026, and as expected. But they are seeing an improved economic outlook, however. Across the Pacific and after impressing in April, Japanese machinery orders took an outsized tumble in May. down -12.4% from April and far worse than market forecasts for a -4.2% decline. It seems a broad-based weakness in business investment is setting in. Orders from manufacturers dropped -14.9% (vs 5.1% in April), while non-manufacturing orders fell -9.3% (vs 6.7%). Chinese house prices are still falling but at a slower pace now as background support measures and market cleanup activity is putting a floor under this weakness. China's new home prices across 70 cities fell -3.3% in June from a year ago, the mildest contraction since February. Shanghai was a standout with a +3.1% rise on that same basis, the only one with a measurable gain. Meanwhile, pre-owned home sales prices fell almost -6% on the same basis, and resale prices in Shanghai were negative too. Retail sales in China were up +1.0% in June from a year ago, restrained in large part by shrinking retail sales of cars. Without that, sales would have been up +3.0%, just enough to be higher than their CPI inflation. Industrial production in China rose +5.3% in June, its fastest pace in three months. Meanwhile, electricity production, which some think is a more realistic indicator of industrial activity because it is less susceptible to regional manipulation, rose +2.0% in June from the same month a year ago. Through all of this, China said its economic activity was up +4.3% in June from Q2-2025. This was slower than the +5.0% in Q1-2026 and lower than the anticipated +4.5% that analysts had forecast. And it is its slowest since Q4-2022, and prior to that pandemic interruption, the slowest since 1990. The uneven results posted today won't reassure Beijing. Markets are thinking they will announce new stimulus soon. China's new bank lending came in at ¥1.61 tln in June, much more than the very weak ¥520 bln in May, but well below both year-ago levels and the expected ¥2 tln rise. Bank debt growth typically accelerates in June as banks step up lending activity to meet their quarterly targets, but loan demand remains subdued in 2026. This is adding to expectations of new stimulus measures from Beijing. Yesterday's news of the arrival of bird flu in New Zealand likely shows that Australia's monitoring is likely very inadequate. They say Australia has 14 confirmed detections of H5 bird flu in wild birds. There are eight confirmed in Western Australia, five in South Australia and one in New South Wales. These are probably just the tip of the iceberg. The UST 10yr yield is now just on 4.54%, down -3 bps from this time yesterday.  The price of gold has firmed slightly to US$4061/oz, little-changed from yesterday. Silver is now just under US$57.50/oz, down -US$1.50 from yesterday. Oil prices are up +50 USc from yesterday at just on US$79/bbl in the US, while the international Brent price is now just over US$84.50/bbl. Hormuz transits have risen overnight There have been just 3 crude tankers and 15 cargo ships exiting over the past 24 hours (1 dark with transponders off) and 23 entering for new loads (9 dark) and most Iran-linked. More ships are crossing the Red Sea as well. The Kiwi dollar is up +40 bps from yesterday at just under 58.6 USc. Against the Aussie we are up +20 bps at 83.5 AUc. Against the euro we are also up +20 bps at just on 51.1 euro cents. That all means our TWI-5 starts today at just under 62.4 which is up +40 bps from this time yesterday. The bitcoin price starts today at US$64,950 and up +0.7% from this time yesterday. Volatility over the past 24 hours has been low at just under +/-0.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news of more Trump flip-flops in haphazard moves that show Trump has no strategy or exit plan from the mess he created in the Middle East. But first, there was a Pulse dairy auction overnight and prices mostly dipped from last week's full event. Both butter and SMP dipped -0.4%, but the exception was WMP which rose +0.3%. The recently higher NZD has made those changes less in local currency, reinforcing the Fonterra payout reduction. Elsewhere, the US released its June CPI result with a somewhat surprising dip with it falling to 3.5% after May's three year high 4.2%. Markets had expected a lesser dip to 3.8%. The biggest retreat was the -9.7% fall in petrol prices (although this monitoring only recorded a +6.8% fall). Inflation was on the mind of Fed speakers overnight, especially Kevin Warsh, who reiterated his commitment to fighting inflation saying he had "no tolerance for persistently elevated inflation". But he had no details or plans on how he is to tackle inflation. He was presenting the Fed's semi-annual Monetary Policy Report to Congress. The Fed's target is inflation at 2% and it has been above that for 63 consecutive months now, so the credibility of achieving that target is not high. The ADP weekly private jobs monitoring fell again, now under +20,000 and the first time it has reported a gain that low since mid-March. It has been tracking lower since early May. The lower fuel costs shifted the needle in the NFIB sentiment survey for SMEs, resulting in a less-negative June result. But these same respondents cited inflation as their biggest threat, the highest since October 2024. Yesterday, big US banks reported strong earnings gains, helped by their role in the Big Tech IPOs and other tech fundraising. Singapore said its economic activity was +5.7% higher in Q2-2026 than in the same quarter in 2025. While this was a bit less than the +6.3% first quarter result, it was above the expected +5.5% outcome. China said its June exports were up a remarkable +27% from the same month a year ago, driven by US companies stockpiling ahead of the expected inflationary effects of upcoming producer price inflation from the Middle East shocks, and by China's push to export cars, and far more than the +18% expected. It also said its imports were +36% higher than a year ago, driven by crude oil imports. That all meant that it had a near record trade surplus of +US$126 bln in June, only exceeded by the January 2025 +US$136 bln in that month. In Australia, the Westpac-MI consumer sentiment survey became less pessimistic in July, mainly because their fuel price pressures eased - and their interest rate fears moderated as well. Job loss concerns eased too. But consumers remained gloomy about the economy overall and that meant they don't think now is a good time to buy a major appliance. And, although it recovered somewhat from very low levels, Aussies are still very uncertain where their housing market is going. The story was quite similar for business sentiment in July as reported by the NAB survey. However, this one reported a sharper-than-expected improvement even if it is still negative. Price pressures also moderated, with input price growth slowing to its weakest pace since February and retail prices falling for the first time in seven years. The UST 10yr yield is now just on 4.57%, down -4 bps from this time yesterday. The price of gold has risen to US$4059/oz, up +US$66/oz from yesterday. Silver is now just under US$59/oz, up +US$1.50 from yesterday. Oil prices are up +US$1.5o from yesterday at just on US$78.50/bbl in the US, while the international Brent price is now just over US$84/bbl and up +US$2. Hormuz transits have essentially dried up as the hot conflict explodes again and Iran declaring the Strait 'closed'. There have been just 3 crude tankers and 7 cargo ships exiting over the past 24 hours and all of those tied to Iran (1 dark with transponders off) but only 9 entering for new loads, all Iran-linked (1 dark). No-one was prepared to pay Trump's tolls, so Trump backed down (in a weird rambling announcement), less than 24 hours after announcing the levies. It is unknown if any are paying Iran's tolls. Plans to build pipelines to avoid the area are getting new momentum now. So Iran is shifting its focus to blockading the Red Sea at Yemen. The Kiwi dollar is up +50 bps from yesterday at just over 58.1 USc. Against the Aussie we are up +20 bps at 83.3 AUc. Against the euro we are up +40 bps at just on 50.9 euro cents. That all means our TWI-5 starts today at just on 62 which is up +50 bps from this time yesterday. The bitcoin price starts today at US$64,477 and up +4.1% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.5%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news that at the close of business today in New York, the Q2-2026 earnings season will kick off with major banks JP Morgan, Bank of America and Wells Fargo leading the pack. They will be reporting into a market that is jittery over the rebounding crisis in the Middle East. Adding to the confusion, Trump said the US is imposing a 20% toll on all ships passing through the Strait of Hormuz. That will close all traffic except Iranian-linked vessels. Separately, yesterday tech stocks from New York to Shanghai all took a beating. Meanwhile, US Fed governor Waller spoke today, emphasising he is watching the inflation signals closely and warning that more rate hikes may be necessary. He warned about the impact of "tariffs, energy prices, and spillovers from demand for the AI buildout". But he is wary of recent history, acknowledging that this evolving situation has different risks and "we shouldn't fight the last war" on inflation. We are seeing a long-time dove turning hawkish on the need for action on inflation. That comes as the US federal government posted a much wider deficit than expected, boosted by tariff refunds. Over the past nine months, that deficit has swelled to -US$1.36 tln on track for another unsustainable record, only one Trump could engineer with his dodgy fiscal strategies. In India, CPI inflation rose to 4.4% in June, its highest since December 2024 and slightly more than expected. Food prices rose +5.3% with tomato prices up almost a third on this year-on-year basis. In China, their climate and weather authorities are warning that there is an elevated chance of more serious storms this year. They have just had their first major one, and they say more than six national emergency level storms are expected before the end of their summer. In Australia, we should probably note that the Xero CEO has sold all her own shares in the company, a somewhat startling signal. Meanwhile OPEC is also turning glum. Their July Monthly Oil Market Report lowered the 2026 global oil demand growth forecast to 780,000 bpd, citing economic instability from the geopolitical conflict. They see reduced demand in major markets. The UST 10yr yield is now just on 4.61%, up +5 bps from this time yesterday.  The price of gold has fallen to US$3994/oz, down -US$126/oz from yesterday. Silver is now just under US$57.50/oz, down -US$2.50 from yesterday. Oil prices are up +US$6 from yesterday at just on US$77/bbl in the US, while the international Brent price is now just over US$82/bbl. Hormuz transits have essentially dried up as the hot conflict explodes again and Iran declaring the Strait 'closed'. There have been just 6 crude tankers (1) and 5 cargo ships exiting over the past 24 hours and 5 of those tied to Iran (0 dark with transponders off) but only 5 entering for new loads, all Iran-linked (1 dark). The Kiwi dollar is little-changed from yesterday at just under 57.6 USc. But against the Aussie we are up +20 bps at 83.1 AUc. Against the euro we are unchanged at just on 50.5 euro cents. That all means our TWI-5 starts today at just on 61.5 which is the same as this time yesterday. The bitcoin price starts today at US$61,935 and down -3.4% from this time yesterday. Volatility over the past 24 hours has been modest however at just under +/- 1.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the Hormuz Strait is effectively shut again with Iran's 'strategy' winning against the US 'firepower'. It is hard to think of any other politician trashing their advantage perceptions so completely. There will be long historical echoes from all this ineffective breast-beating. But elsewhere and locally, this week will bring updates to our migration and travel data, indicators of June retail activity, and early signals of June inflation. We will also get an look at business sentiment, and likely get the June REINZ update. In Australia, they will chime in with their June labour market updates, after updates for consumer and business sentiment. In the US, apart from Trump's wars, investors will turn their attention to the Q2 earnings season, and a steady stream on important economic data that includes their CPI, retail sales and consumer sentiment updates. Fed boss Warsh will be briefing Congress and that will be interesting too, especially about his views on 'reform'. Canada will be reviewing their central bank's policy rate this week, although no change from the 2.25% is anticipated In Japan, it will be about machinery orders and industrial production with eyes also firmly focused on their currency - which will also impact their fast-rising interest rates. In China, it will be a busy week of June economic data releases including for trade, and debt, and highlighted by their Q2-2026 GDP growth rate. Over the weekend, in the fiercely competitive Chinese car market, they reported 2.8 mln vehicle sales in June which was somewhat unexpected because a dip from May was anticipated. But it is a -3% dip from year-ago June sales levels. That pushes their twelve month sales to 33.8 mln units, up from 33.0 mln in the prior equivalent year. Car exports rose above 1 mln units in June, the first time that level has been achieved as it floods global markets. It is storm season in China again, and severe flooding has hit a number of regions, enough to concentrate minds in Beijing. Elsewhere, China has banned the export of helium. Actually, the re-export of helium because it gets most of it from Russia. The Middle East conflict has restricted supply from there, and tech users in Europe and Asia are now in a tough spot, as are medical users everywhere. China is conserving its Russian imports for its own tech industry Japan is reporting that their producer prices rose +7.1% in June from a year ago, accelerating from an upwardly revised +6.6% increase in May and above market expectations of a +6.8% gain. It is the fastest annual increase since March 2023. Higher energy prices following supply chain disruptions linked to the war in Iran are driving this, of course. And Japan's finance minister said they want to steer their state pension funds to "substantially" increase investments in domestic assets. This brought a sharp immediate reaction in both their currency and bond markets, due to the expected size of the shift. The yen gained, or at least it halted its fall, and their bond yields fell sharply (see below). Elsewhere, in the US initial jobless claims rose by +224,500 and about what seasonal factors can account for. There are now 1.767 mln people on these benefits, less than year-ago levels. After the good May rebound, existing home sales in the US fell back to average levels, and to levels lower than a year ago. The median price is up only +1.8% from a year ago. That modest rise is less than income growth, so overall affordability is getting a chance to recover there. On Wall Street, South Korean computer chip maker SK Hynix has raised US$26.5 bln in its New York IPO, the largest ever listing by a foreign firm in the US. SK Hynix is a key supplier to AI chip giant Nvidia. In Canada, their payrolls rose a minor +18,200 in June, slightly better than the expected +10,000, and holding on to the +88,000 gain in May. The June gain was all about a strong rise in the private sector (+32,000) which consolidated the good May private sector rise (+56,000). But most of the net June gain was from part-time employment. These positive shifts in June may have something to do with hiring for the football World Cup events. Global container freight rates rose another +2% last week to be +74% higher than year-ago levels, mostly about outbound freight rates from China to the US where demand is still high. Bulk cargo freight rates pushed higher too. The UST 10yr yield is now just on 4.56%, unchanged from this time Saturday but up +7 bps for the week. The price of gold has risen to US$4119/oz, up +US$19/oz from Saturday, but down -US$55 from a week ago. Silver is now just under US$60/oz, up +50 USc from Saturday, down -US$2.50 from a week ago. Oil prices are little-changed from Saturday at just on US$71.50/bbl in the US, while the international Brent price is now just onUS$76/bbl. A week ago these prices were US$68.50 and US$72/bbl. Hormuz transits have dived sharply as the hot conflict explodes again and Iran declaring the Strait 'closed'. There have been just 12 crude or product tankers exiting over the past 24 hours and 5 of those tied to Iran (5 dark with transponders off) but only 9 entering for new loads, again mostly Iran-linked (3 dark). The Kiwi dollar is unchanged from Saturday at just over 57.6 USc, up +50 bps from a week ago. Against the Aussie we are unchanged at 82.9 AUc. Against the euro we are unchanged at just on 50.5 euro cents. That all means our TWI-5 starts today at just on 61.5 which is the same as this time Saturday, up +60 bps for the week. The bitcoin price starts today at US$64,084 and up +0.6% from this time Saturday, up +2.9% from a week ago. Volatility over the past 24 hours has been low at just under +/- 0.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Tuesday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the oil price, and benchmark interest rates have both risen on the renewed tensions between the US and Iran. But first today, the IMF has updated its global economic forecasts, and they are virtually unchanged from the main release in April. They note the world economy's stronger-than-expected resilience to the Iran war and robust AI-related investment. They see global growth coming in at +3.0% in 2026 with the 2027 growth outlook revised up to marginally 3.4% from 3.2%. Despite the slight upgrades, the IMF warned that risks remain tilted to the downside, and the full economic impact of elevated tensions, including renewed US-Iran strikes, are still to be revealed. Global headline inflation is now expected to reach 4.7% in 2026, up from 4.1% in 2025, before easing to 3.9% in 2027. Australia gets little mention in this update except to note that its 2026 growth is forecast to come in at +1.9% (down -0.1%) and 2027 at +1.7% (unchanged). New Zealand gets no mention at all. For the US it is +2.3% and +2.2% for the same two year, both unchanged. For China it is +4.6% and +4.1% (marginally higher). For Japan it is +0.6% and +0.7% (little-changed). Malaysia was noted as a positive mover where their economy is projected to grow at a rate of +4.7% in 2026, benefiting from data center activity and the upturn in the global technology cycle. US mortgage applications fell again last week, especially refinance applications. US crude oil stocksactually rose last week with a modest gain which ended a ten consecutive string of declines. But their strategic oil reserve continued to fall at the same fast pace. The modest US consumer debt expansion recorded to April shrank to nothing in May, an unexpected weakness, and a significant variation from the continued expansion expected. However a one month hesitation occurs occasionally so we will need to wait for the June release to know if this is a significant indicator. The big mover was a sharp fall in credit cards and other revolving debt, also quite unexpected. The minutes of the June Fed meeting were released today, revealing that most officials broadly agreed they would need to raise interest rates if inflation remained elevated this year due to the war in the Middle East, tariffs, or strong demand from the AI-driven investment boom. And that included new boss Kevin Warsh. In Japan, their official sentiment survey of professionals recovered in June after three prior months of downbeat views In Australia, rents are rising faster, especially house rents. The increase was both stronger than seasonal norms and relatively abrupt in some cities, pointing to a step-change in pricing behaviour rather than a gradual tightening in market conditions. In a now somewhat dated update due to the renewed Middle East hot conflict, the New York Fed's global supply chain pressure index eased back in June after its April and May spikes. (Of course, with today's resumption by the US of its bombing of Iran, this is likely to flare up again in July.) The UST 10yr yield is now just on 4.56%, up +8 bps from this time yesterday. The price of gold has fallen to US$4067/oz, down -US$78/oz from yesterday. Silver is now under US$58.50/oz, down -US$2.50 from yesterday. Oil prices are up +US$3 from yesterday at just on US$73.50/bbl in the US, while the international Brent price is now just over US$78/bbl and up +US$4. Hormuz transits have picked up sharply in a rush to get out despite the risks and renewed uncertainties with 35 crude or product tankers exiting over the past 24 hours (8 dark with transponders off) but only 16 entering for new loads (2 dark). Interestingly. All this comes as attacks on ships in transit become daily events, so the rise in oil prices isn't surprising. Red Sea activity near Yemen has fallen again to even lower levels on added risks there too. The Kiwi dollar is up +10 bps from this time yesterday at just over 57 USc. Against the Aussie we are up +30 bps at 82.3 AUc. Against the euro we are up +10 bps at just on 49.9 euro cents. That all means our TWI-5 starts today at just on 60.9 which is up +20 bps from this time yesterday. The bitcoin price starts today at US$62,052 and down -3.1% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and because tomorrow is a public holiday in New Zealand, Matariki, we'll do this again on Monday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news renewed Hormuz attacks are raising oil prices and interest rates today, not helped by a pullback in tech stocks. But first today, there was another dairy auction overnight, a full one with new season volumes returning. But this one came in sharply lower, down -4.9% on USD terms although only a -2.5% retreat in NZD terms. Among the results, there was a notable -4.4% fall for WMP, a -7.0% fall for SMP, a -5% fall for butter and a large -12.3% fall for cheddar cheese. A few of the minor categories gained. But these falls were larger than the futures market was pricing in, so you have to say they are 'larger than expected'. While the new lower levels aren't that special in a longer perspective, the speed of the falls is concerning and analysts will be re-assessing their payout forecasts. In the US, the RealClearMarkets/TIPP Economic Optimism Index rose in July to a better than expected level but it is still well below the average over the past year and below its long term norm. Meanwhile, American consumer inflation expectations rose when a small dip was anticipated. It is now at 3.7%, its highest since September 2023 and is rising even though expectations for lower petrol prices are included in these results. The weekly private jobs growth monitoring by ADP shows a smaller rise ;last week than they have recorded in the past 15 week, since mid-March in fact. And the trend has been down for seven straight weeks. This is consistent with the easing that the official non-farm payrolls report showed for June. The US Logistics Managers Index rose again in June and to its highest since March 2022, driven by three factors; anticipation of more tariff action from Trump, stockpiling to get ahead of inflation, and an expectation that the end of year retail season will be 'normal'. US exports weakened in May and imports rose in the same time in the broader trade result that includes both goods and services, delivering a sharp rise in their deficit and their highest in over a year. This result matched the recent report of merchandise trade but brings their services trade into the picture. Meanwhile Canada reported rising exports and stable imports to give them a larger trade surplus in May. China said its foreign exchange reserves dipped slightly in June from their unusually high May levels. Part of this was due to the retreat in the gold price. But their central bank continued its gold-buying streak for a 20th month, with reserves reaching 75.44 million troy ounces by June's end, up from 74.96 million in May. China's excavator sales are rebounding, up by more than a third in June from a year ago, driven by major projects. New data out yesterday paints a much improved picture for Japanese household spending in May as households started to get their mojo back. And don't overlook that this was in the middle of the Trump Gulf War uncertainties. The UST 10yr yield is now just on 4.54%, up +6 bps from this time yesterday. The price of gold has slipped to US$4146/oz, down -US$13/oz from yesterday. Silver is now under US$61/oz, down -US$1.50 from yesterday. Oil prices are up +US$2 from yesterday at just under US$70.50/bbl in the US, while the international Brent price is now just on US$74/bbl. Hormuz transits have picked up sharply despite renewed uncertainties with 27 crude or product tankers exiting over the past 24 hours (4 dark with transponders off) but only 18 entering for new loads (4 dark). Interestingly. All this comes as attacks on ships in transit become daily events, so the rise in oil prices isn't surprising. Red Sea activity near Yemen has fallen again to even lower levels on added risks there too. The Kiwi dollar is down -10 bps from this time yesterday at just on 56.9 USc. Against the Aussie we are little-changed at 82 AUc. Against the euro we are also little-changed at just on 49.8 euro cents. That all means our TWI-5 starts today at just on 60.7 which is down -10 bps from this time yesterday. The bitcoin price starts today at US$64,063 and up +0.8% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.3%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news that now the Hormiz situation is settling down somewhat with oil prices easing, the global economy seems to be responding with a better outlook. First today, the widely-watched US ISM services PMI came in at a good level for June even if slightly softer than for May. Price pressures eased slightly, new business stayed at good levels even if less than for May, but employment was stronger even if it is still the weakest component. This Overall services measure has been at or about this level for seven months now is a relatively settled state. It is much more in positive territory than the S&P Global services PMI for the US. The S&P Global services June PMI for Canada is negative after a fall from May's small (but rare) expansion. Business activity weakened as new orders fell for a second straight month, with firms citing high prices and geopolitical uncertainty as key factors weighing on domestic and foreign demand. Meanwhile, the Bank of Canada's June quarter Business Outlook survey found similar views. Overall business sentiment has deteriorated after improving over the past three quarters. Sales outlooks have softened slightly, but firms' export outlooks have improved. Fewer firms said trade uncertainty and hesitancy among US customers are constraining exports, and more firms reported strong demand for commodity exports. Most firms did not report binding capacity constraints or labour shortages. Meanwhile a companion consumer survey shows inflation expectations are now over 3% there and right at the top of its target range of 1-3%. Singapore reported its May retail sales data overnight and it wasn't positive. Of course, this was during the height of the Middle East uncertainties. In China, a private bank in Wuhan with US$19 bln in assets has collapsed and been taken over by regulators. While it isn't a large institution, others are saying it won't be an isolated event among regional banks. (For comparative reference, the US FDIC has dealt with two US banks in 2026 that have failed.) And according to research by a Japanese consultancy, Chinese banks and tech companies led the world in applications for financial technology patents over the last decade, surpassing the US in a field that supports a wide range of financial services from lending and asset management to cryptocurrencies. They examined fintech-related patent filings in 118 countries and regions in the 10 years through 2025, working with Tokyo-based research firm Patent Result. The total tally reached roughly 120,000, nearly triple the number in the preceding decade. Also for May, the EU posted its producer price data, showing a rising +5.7% level from a year ago and driven by higher energy costs. But they also released May retail sales data and perhaps surprisingly, these rose on a real basis, up a creditable +1.9% from a year ago on a price-adjusted basis. In Australia, the Melbourne Institute survey of inflation expectations eased back slightly to 5.5% after the March spike that was rose again in April. But it has eased from there, and slipped again in June. Wage expectations, by comparison, have remained unchanged for the past seven months. The UST 10yr yield is now just on 4.48%, down -1 bp from this time yesterday.  The price of gold has slipped to US$4158/oz, down -US$15/oz from yesterday. Silver is now under US$62.50/oz, down -50 USc from yesterday. Oil prices are down -50 USc from yesterday at just under US$68.50/bbl in the US, while the international Brent price is now just under US$72/bbl. Hormuz transits have stayed low on renewed uncertainties with just 16 crude or product tankers exiting over the past 24 hours (0 dark with transponders off) but 20 entering for new loads (5 dark). Interestingly, Red Sea activity near Yemen has fallen to similarly low levels on added risks there. The Kiwi dollar is down -10 bps from this time yesterday at just on 57 USc. Against the Aussie we are down -30 bps at 82 AUc. Against the euro we are down -10 bps at just on 49.8 euro cents. That all means our TWI-5 starts today at just on 60.8 which is down -10 bps from this time yesterday. The bitcoin price starts today at US$63,554 and up +1.6% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news an OPEC decision overnight may bring lower fuel prices much sooner. But then, this will depend on the volume of Hormuz crossings. But first, this coming week locally will be dominated by the RBNZ's OCR review on Wednesday. Economists are divided on whether an inflation-fighting hike will come, and financial markets are pricing one in at 76%. The split voting at the May 27 review, where the external members all wanted a hike, but the majority internal members didn't, is just as likely to be repeated. ASB is saying that locally, easing oil prices have strengthened our economic outlook and reduced the risk of a prolonged inflation shock. Lower fuel costs and stronger than expected economic momentum have put the recovery back on a firmer footing. In Australia, the data out this week will be mainly about the Melbourne Institute's monthly inflation gauge, and about job ad changes. In the US, their data releases will focus on service sector activity and existing home sales as they, like Europe, start to battle excessively hot conditions. In Japan, the focus will be on defending the yen. They will also release June machine tool order data. China will release June CPI and PPI data this week. Over the weekend, China released their unofficial services PMI and it came in quite positive for June, similar to May. Growth rates for activity and new business remain strong. They recorded the strongest rise in employment since July 2024 and the fastest input cost inflation in over two years. Service sector firms there are optimistic about the immediate future. The overall result was better than the official China services PMI. In Japan, their services PMI returned to growth in June, but cost pressures intensified, but here business confidence remained subdued. Which is in contrast to their quite positive factory PMI. In South Korea we should probably note a very bumpy run recently by their stock market. It is dominated by major technology and semiconductor companies like Samsung Electronics and SK Hynix, so it is like the Nasdaq on steroids. This gives it unusual volatility, and that volatility has been on display in the past two weeks. This market hit a new record high on June 22 but has fallen -11% since. On Friday, it rose +5.8% however but even that still left it down -3% for the week. Over the past year, this equity market has risen a stunning +165% with most of it in 2026 and most of it tech-related. In Vietnam, they posted a high Q2-2026 growth rate of +8.4%, building on their +7.8% Q1-2026 rate. (How can they report so quickly?) But this latest result will disappoint them because they have set a 2026 target of +10% and that now looks unlikely to be achieved, derailed somewhat by the Middle East conflict, also by missing their infrastructure build-out targets. Inflation eased to 4.7% in June from May's 5.6%, moving closer to the government's 4.5% inflation target this year. The World Bank has now reclassified Vietnam as an upper-middle-income economy, effective July 1. The FAO global Food Price Index retreated for a second consecutive month in June, led down by falling cereals prices as harvests stay high, despite concerns in the US and Australia. Dairy prices eased slightly too, but meat prices stayed elevated. However it is vegetable oil prices that are keeping this index from falling faster. In the US, the latest update of the AtlantaFed's GDPNow tracking reveals a sudden turn from high optimism about economic expansion, to a dour outlook. It has been rare that this model has come in lower than 'consensus' forecasts. The UST 10yr yield is now just on 4.49%, unchanged from this time Saturday but a +12 bps rise from this time last week.  The price of gold has risen to US$4174/oz, unchanged from Saturday, up +US$100 from a week ago. Silver is now under US$62.50/oz, unchanged from Saturday too, up +US$3.50/oz for the week. Oil prices are little-changed but slightly firmer from Saturday at just under US$69/bbl in the US, while the international Brent price is still at US$72/bbl. Hormuz transits picked up Friday but then on renewed uncertainties fell back again over the weekend with just 10 crude or product tankers exiting over the past 19 hours (1 dark with transponders off) but 15 entering for new loads (1 dark). Large tankers which are exiting are now choosing to do so in Oman-controlled lanes. And we should probably note attacks on a ships in the Red Sea near Yemen over the weekend, adding another layer of uncertainty. OPEC met over the weekend, and raised output by +188,000 barrels/day. They have Middle East members who need maximum revenues to recover from the conflict. So we may end up awash in oil and sharply lower prices. The Kiwi dollar is unchanged from this time Saturday at just over 57.1 USc, up +70 bps from a week ago. Against the Aussie we are unchanged at 82.3 AUc. Against the euro we are still at just on 49.9 euro cents. That all means our TWI-5 starts today at just on 60.9 which is unchanged from this time Saturday, up +60 bps for the week. The bitcoin price starts today at US$62,563 and up +0.7% from this time Saturday, but up almost +4% from this time last week. Volatility over the past 24 hours has been low at just under +/- 0.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news of a surprisingly weak American jobs report for June. There is no World Cup bounce there. And economists are divided over whether Federal Reserve policymakers will be holding rates steady, lifting or lowering them over the next six months based on this latest data. The US economy added just +57,000 jobs in June, the weakest gain in four months and far below expectations of +110,000. Their labour force participation rate dropped sharply to 61.5%, its lowest since early 2021. But seasonal adjustment has a lot to do with these headline results and the actual payroll change isn't anywhere near as weak. However, when you broaden this view to everyone in employment, not just those on a company payroll, things don't look so good. There are now 162.7 mln people in employment in June, down -175,000 from May and down -1.2 mln from June a year ago. In fact, that employed civilian workforce level is their lowest since the end of 2024. US jobless claims rose last week, but only marginally and by about what seasonal factors would have accounted for. There are now 1.76 mln people on these benefits, pressed lower by much tighter entitlement standards, which is consistent with the employment drop. US factory orders fell -1.3% in May and were down -4.5% for durable goods orders. But this needs to be seen in the context of rises in the prior three months, and April was revised higher. From a year ago though, the value of these factory orders were up only +1.8% overall but down -4.3% for durable goods. Given producer price inflation has been high over this period (+6.5%), these are terrible results. And surprising given the factory PMI data, so we should be sceptical of them. But don't forget this data is from agencies with imposed partisan leadership that replaced professional leadership when the President didn't like their earlier data. Meanwhile US vehicle sales rose in June to an annualised rate of 16.5 mln, a rise from May and from June a year ago. So that demand may improve their factory order data for June. The US vehicle market is about half the size of the Chinese equivalent (which currently runs at a 31 mln annualised sales rate). We got all this data today because tomorrow they will be on holiday for their 250th Fourth of July celebrations. It is a milestone worth celebrating but the background economy will likely take the gloss of it for those negatively affected. In China, those huge vehicle sales numbers mask structural problems. Prices have been low to build volume, but few of these manufacturers are profitable. A dramatic shakeout is coming because sales volumes are falling now. And that is already having implications for their steel industry, among others. In Australia, their May exports fell -6.9% from April to be just +3.1% higher than a year ago. Their imports were +2.6% higher than April to be up +13.9% from a year ago. So their merchandise trade balance shrank to -AU$1.7 bln in May, their first deficit since January 2018. They also reported that after hitting AU$7.9 bln in February, their gold exports retreated to just AU$4.5 bln in May. Global container freight rates rose +9% last week to be +61% higher than year-ago levels. This is all about demand for outbound cargo space out of China. Bulk cargo rates fell -2.8% last week to be +72% higher than year-ago levels, although that low base will rise quickly in future weeks. The UST 10yr yield is now just on 4.48%, unchanged from this time yesterday.  The price of gold has risen to US$4106/oz, up a net +US$36/oz from yesterday. Silver is now under US$60.50/oz, up +50 USc from a day ago. Oil prices are up +50 USc from yesterday at just on US$68.50/bbl in the US, while the international Brent price is unchanged at US$71.50/bbl. Hormuz transits have stayed at their lower level after the recent volatility & uncertainties with just 19 crude or product tankers exiting over the past 24 hours (1 dark with transponders off) and 24 entering for new loads (3 dark). Over 84% of vessel movements are related to cargoes headed to China, Russia or are Iran-linked. The Kiwi dollar is up +10 bps from this time yesterday at just over 56.9 USc. Against the Aussie we are unchanged at 82.3 AUc. Against the euro we are down -10 bps at just on 49.8 euro cents. That all means our TWI-5 starts today at just on 60.8 which is up another +10 bps from this time yesterday. The bitcoin price starts today at US$61,635 and up +2.5% from this time yesterday. Volatility over the past 24 hours has again been moderate at just under +/- 2.1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the new US Fed boss says price risks have come down in recent weeks, and repeated his determination to bring inflation back to the 2% target. Interestingly, US benchmark interest rates rose after these comments which tells you something about how they feel about the prospects for lower Fed Funds rates and inflation control. Meanwhile, US mortgage applications were little-changed last week and the 30 year benchmark mortgage rate changed little too. Refi activity was softer. The June job cut data for the US came in at about half the level of May and much less than expected, although layoffs due top AI remained the top reason. Meanwhile, the ADP monthly jobs report came in softer than expected, even if it is still expanding. A rise of +113,000 was expected after the prior month's +124,000. But this marker came in at +98,000. We will get the US non-farm payrolls change data tomorrow and markets expect it to rise +110,000, and down from May's +172,000. Meanwhile the widely-watched ISM factory PMI came in little-changed and moderately positive for June. New orders grew but slower; new export orders fell. Input prices rose again but at a slower pace. Most of this report was quite similar to yesterday's S&P Global US factory PMI. There was another fall last week in US crude inventories although the least in six week, even as the reduction has now cumulated to ten consecutive seeks. US strategic crude reserves are now as low as they had in 1983. Petrol inventories fell as well last week. American petrol prices remain a+28 higher than before the start of the Gulf War. In its aggressive trade relations, the US has told Canada and Mexico it will not renew the existing USMCA trade pact, one Trump himself negotiated and claimed was one of the 'best deals ever'. In fact the US ended up a net loser. Last year, the US had a -US$46 bln trade deficit ⁠in goods with Canada and a -US$197 bln deficit with Mexico. Of course the US has trade surpluses in services with both which they ignore. The existing USMCA will run another six years if it isn't eventually renewed, Factories the world over are expanding, although more than others in some places. The global factory PMI is a positive 53. In Australia it is lagging at 51.5. In New Zealand our last BNZ-BusinessNZ factory PMI came in at 49.9. Locally we are not participating in this global expansion. In China, their manufacturing conditions as measured by the S&P Global/RatingDog factory PMI improved further in June, completing their strongest quarter since 2020. This result was better than the official version but not quite as good as many analysts had expected. Input price inflation slowed to a five-month low while employment rose at its quickest rate since August 2023. Japan's Tankan industrial sentiment indexes have reached their highest level since 2018 in June. They came in at a level that was better than expected for large manufacturers, but a bit more modestly improved for service sector companies. South Korea is becoming Taiwanese, at least as regards its export prowess. Korean exports were up +71% in May from a year ago, to a record US$102 bln for the month. (For reference Taiwan exported US$78.5 bln in May, up +52% from a year ago.) However, their June factory PMI shows their softest rise in new orders in 2026 so far which limited production growth. And price and supply pressures remained pronounced. In Australia, their May building consent data shows that the number of dwelling approved were +5.3% higher than year-ago levels. But they fell -1.1% from April. Private sector house consents rose +2.8%, to the highest level since September 2021. This is the fourth consecutive month with over 10,000 private sector houses approved. This are quite soft for multi-unit dwellings however. And their June real estate market shows more signs of topping out. The Cotality home value index – covering all of Australia – fell -0.4% in June, following a -0.3% decline in May and a -0.1% dip in April. Annual growth slowed to +7.3%. The quarterly decline is the most significant since the 2022-23 price correction. Corrections in Sydney and Melbourne are becoming more pronounced, led by material declines in 'top tier' segments with turnover also down sharply. Momentum is slowing elsewhere but price and turnover growth are still mostly positive. The UST 10yr yield is now just on 4.48%, up another +5 bps from this time yesterday. The price of gold has risen to US$4070/oz, up a net +US$44/oz from yesterday. Silver is now under US$60/oz, up +50 USc from a day ago. Oil prices are down another -US$1.50 from yesterday at just over US$68/bbl in the US, while the international Brent price is down to US$71.50/bbl. Hormuz transits have stayed at their lower level after the recent volatility & uncertainties with just 16 crude or product tankers exiting over the past 24 hours (3 dark with transponders off) and 26 entering for new loads (4 dark). Most exiting vessels are still headed to China. The Kiwi dollar is unchanged from this time yesterday at just under 56.8 USc. Against the Aussie we are up +20 bps at 82.3 AUc. Against the euro we are up +20 bps at just on 49.9 euro cents. That all means our TWI-5 starts today at just on 60.7 which is up another +10 bps from this time yesterday. The bitcoin price starts today at US$60,115 and up +3.1% from this time yesterday and recovering most of yesterday's fall. Volatility over the past 24 hours has again been moderate at just under +/- 2.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from interest.co.nz. Today we lead with news the Persian Gulf situation is settling into a chronic stalemate after the acute hot conflict. US allies in the region are confused, Qatar's role in negotiations is questioned as to whether it can actually do anything, and Iran and Oman are moving forward with their plans for 'fees' and 'management' of the waterway. The US is getting sidelined. One outcome seems clear however; Chinese EV's are dominating world car sales so demand for crude oil is likely to be much less in the future, and that will limit oil price pressures. But first today, there was another dairy Pulse auction overnight, bringing lower prices again. AMF fell -2.5% from last week's event, butter was down -0.5%, SMP was down a chunky -6.2% and WMP slipped -0.6%. These build on trends we have seen since mid-May and given the rise in global milk production by the main exporters (New Zealand included), it is a trend likely to continue for a while yet. In the US, labour market data for May about job openings was little-changed from April even if it still is near a two year high, which was slightly better than was expected. But the June PMI report for the important Chicago manufacturing hub was quite a bit weaker than for May and what was expected. But it is only back to February levels which isn't bad at all. It was a fall away in new orders that drove the easing. Meanwhile the Dallas Fed's regional services survey became positive - just - for the first time in five months. They reported that selling price pressures increased slightly, while input price and wage pressures grew at a faster pace. The Conference Board sentiment survey barely moved in June from May, which actually was a result that disappointed analysts because a more marked improvement was anticipated. And that was because respondents turned negative about job prospects, with almost a quarter of them unexpectedly saying jobs are 'hard to get', the highest level sine early 2021. And we should perhaps note that the deadly screwworm cattle disease is still spreading in Texas and New Mexico, spreading to other animals too. Even though the number of animals reported as having contracted the disease remains small, the risks to cattle herds in these states in very large. In Canada, the expectation that it was falling into recession has proven not to be the case. Canada's GDP rebounded from a first-quarter contraction to record a +0.5% monthly gain in April making this their largest economic expansion in nine months. Their May estimate points to a further if minor + 0.1% growth. Across the Pacific in Japan, the yen slipped into the 162-per-US dollar range yesterday for the first time in 39 years,and extending a slide that has accelerated in the past few months. A two month intervention effort isn't working, raising fresh questions about what is driving the yen's renewed weakness. China's official PMIs posted some marginal improvements in June, actually very marginal but at least they are not contracting. Their factory PMI is expanding, just. New orders picked up slightly. And their services PMI is now not contracting. But it isn't expanding either. New orders in this version are still negative, but the overall index was bolstered by expectations for improvement and lower lead times. All other more direct elements are negative to some degree. We should note that the unofficial PMIs by S&P Global/RatingDog have tended to be more expansionary in 2026. These unofficial results will come later today (Wednesday) and Friday. German inflation came in at 2.3% in June, down from 2.6% in May, 2.9% in April, and softer than anticipated, mainly because energy prices retreated there. Back in the US, Rocket Lab has agreed to buy Iridium Communications, a pioneer in satellite telephones, in a broadening attempt to compete with Starlink. It combines their launch capabilities and satellite manufacturing with Iridium's network in low-Earth orbit and valuable radio frequencies for satellite communication. Yesterday we reported a +6% rise in May air cargo activity. But today the May air passenger travel data was released showing a declined -2.2% from a year ago, down -3.1% for international travel. The main diver of the pullback was international travel through the Middle East (-28.8%). But it is also worth noting that domestic air travel in China fell (-6.2%) as well as in the US (-1.9%). The UST 10yr yield is now just on 4.43%, up +6 bps from this time yesterday. The price of gold has risen to US$4026/oz, up a net +US$4/oz from yesterday. Silver is now under US$59.50/oz, up +US$1.50 from a day ago. Oil prices are down -US$1.50 from yesterday at just on US$69.50/bbl in the US, while the international Brent price is unchanged at just on US$73/bbl. Hormuz transits have stayed at their lower level after the recent volatility & uncertainties with just 19 crude or product tankers exiting over the past 24 hours (5 dark with transponders off) and 23 entering for new loads (5 dark). Over the past two days, almost 70% of the exiting vessels have been headed to China. The Kiwi dollar is up +30 bps from this time yesterday at just under 56.8 USc. Against the Aussie we are unchanged at 82.1 AUc. Against the euro we are up +20 bps at just on 49.7 euro cents. That all means our TWI-5 starts today at just on 60.6 which is up another +20 bps from this time yesterday. The bitcoin price starts today at US$58.325 and down -3.3% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news clashes in the Strait of Hormuz are unstitching the uneasy ceasefire and giving credence to sceptics who saw the 'truce deal' between the US and Iran as superficial and flawed. The US believes its own propaganda, thinking it is negotiating from strength, but no-one else does, least of all Iran. US allies in the region are starting to realise the US will throw them under the bus for its own ends. Tankers (6), bulk cargo vessels (6) and other ships (4) are exiting the region, but most tankers are are heading to China, or in the Russian shadow fleet. Those who need insurance are holding back. But first, this week will feature the usual monthly real estate update releases later in the week, including for building consents. Plus the big end-of-month data dump from the RBNZ. In Australia, the focus will be similar where we will be looking for early signs of housing market reactions from their new Budget settings. Elsewhere there will be important PMI updates from everywhere to give us indicators. In the US, their July 4 public holiday will happen on July 3 this year, so it will be a compressed week of labour market data there culminating in an early release of their June non-farm payrolls report when a +114,000 change is expected. In China, they say artificial intelligence is reshaping the global labour market not by triggering mass layoffs of existing workers but by causing employers to pull back on hirings for new, entry-level positions. China also reported industrial profits are recovering, up +21% in May from a year ago to ¥3.1 tln, and faster than the +18.8% rise for the first five months. The latest result reflects the ongoing AI investment boom and continued policy support for advanced industries despite lingering weakness in parts of the property-related sector. In the EU, an ECB survey revealed that median year-ahead inflation expectations eased to 3.5% in May, the lowest level in three months, down from 4.0% in each of the previous two months which were the highest readings since 2023. Longer-term inflation expectations were steady, at 2.9% for three years ahead. Consumers also expect house prices to rise by 3.6% over the next year, slightly below 3.7% in April. Expectations for mortgage interest rates were unchanged at 4.9%. According to the World Meteorological Organization they are saying the severe heat dome over Europe is expected to continue affecting much of Western, Central, and Southern Europe over the next two weeks. There are likely to be economic impacts soon, and as the summer progresses these impacts may well affect economic activity in a material way. And the Bank of International Settlements said over the weekend global pressures from rising public debt to financial fragilities, and questions about the sustainability of ​the AI boom, are increasing systemic financial risks which they suspect could end in a bust. They warned of a complex mix of vulnerabilities, including strained fiscal positions, lingering supply shocks and the risk of a renewed bout of high and sticky inflation. In the US their merchandise trade balance worsened in May. Imports rose +3.6% while exports fell -5.4%. These were much larger shifts than were anticipated. Clearly tariffs aren't working other than making imports more expensive and hurting exports. The net result was a -US$103.5 bln deficit for May, the largest in a year. And their largest May deficit ever. And we should also note that US inventories are rising and quite quickly. In May, wholesale inventories were up +4.4% from a year ago, retail inventories up +3.1%. The stockpiling we noted in their PMI activity is adding deadweight to their logistics systems The University of Michigan Consumer Sentiment index was revised up to 49.5 in June, although that was less of a revision higher than expected. Still, sentiment improved from May which was the lowest level on record, supported in part by a moderation in petrol prices. And that is despite the fact they remain +31% higher than at the start of Trump's failed Iran adventure. But this didn't stop shoppers at Amazon's 'Prime Day' four-day shopping event. Prime Day 2026 was exclusively for Prime members and ran June 23-26. The wrap-up shows more than US$26 bln was spent in the period, up +9.3% from last year, and expected to be half related to inflation, half a volume gain. And in Australia, it seems that last week's auction results will show that they had their softest sales period in more than five years with many properties failing to sell. Also unfolding is the scale of mortgage fraud against banks by a surprisingly wide section of their mortgage broker community. To defend themselves, the banks are drawing up a black-list register so that brokers just don't go shopping around for vulnerabilities. The UST 10yr yield is now just on 4.37%, unchanged from this time Saturday, down -12 bps for the week.  The price of gold has risen to US$4089/oz, up a net +US$15/oz from Saturday. That is down -US$66/oz from a week ago. Silver is now under US$59/oz, down -US$5.50 for the week. Oil prices are little-changed from Saturday at just on US$69/bbl in the US, while the international Brent price is now just on US$72/bbl. A week ago these prices were US$77.50 and US$80.50 respectively. Hormuz transits have eased off noticeably after the recent flare up in fighting with just 16 crude or product tankers exiting over the past 24 hours (1 dark with transponders off) but 24 entering for new loads (3 dark). Over the past two days, more than two thirds of the exiting vessels were headed to China, 9% were Russian-linked, 5% headed for Singapore 4% to South Korea. There are still hundreds (459) yet to try their luck, no doubt inhibited by insurance issues. The Kiwi dollar is unchanged from this time Saturday at just on 56.4 USc, down -100 bps from a week ago. Against the Aussie we are holding at 81.8 AUc. Against the euro we are also unchanged at just on 49.5 euro cents. That all means our TWI-5 starts today at just on 60.3 which is down -110 bps for the week, and still its lowest since the GFC in 2009. The bitcoin price starts today at US$59,497 and down -0.5% from this time Saturday, and down -5.1% from this time last week Volatility over the past 24 hours has been low at just over +/- 0.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

„Die meisten Tage beschäftigen wir uns mit dem Leben und nicht mit dem Sterbeprozess.“ Dr. Holger Hauch, Oberarzt am Kinderpalliativzentrum in Datteln, räumt mit dieser verbreiteten Vorstellung auf. Es geht ums Leben-Gestalten bei lebensbegrenzenden Erkrankungen. Letztere sind fast so individuell wie die Kinder und Jugendlichen selbst. Nicht nur onkologische Patienten werden auf Palliativstationen und durch SAPV-Teams versorgt: Bei 100 Patienten gibt es 80 bis 90 verschiedene Diagnosen. Zu den Eltern gilt es ein Vertrauensverhältnis aufzubauen. Gute Dienste leistet dabei das „Ethik-Fußballfeld“. Es hilft dabei, gemeinsam einen Plan zu entwickeln, mit dem der „Ball im Feld bleibt“. Das bringt Sicherheit und schließlich Entlastung. Ja, trotz aller Herausforderungen macht eine solche Arbeit sogar Spaß, findet der Palliativmediziner. Ein wichtiger Ausgleich erfolgt durch den Austausch innerhalb des Teams. Für die bestmögliche Versorgung ist Austausch ebenfalls entscheidend, nämlich der zwischen Palliativteams und niedergelassenen Ärzten. Medikation ist dabei ein wichtiges Thema. Der Experte: Mit etwas Erfahrung ist die Angst vor Morphin unbegründet. **Muster anfordern:** Eine Musteranforderung des genannten Produktes ist für Ärzte jeweils in einem Zeitraum von 8 Wochen ab dem ersten Erscheinungstag der Podcastfolge möglich: https://www.infectopharm.com/ma/Verrucid/ [Weitere Informationen zu Verrucid](https://www.infectopharm.de/praeparate/verrucid/) [Gebrauchsinformation Verrucid](https://data-storage.live/data/unsec/pb-verrucid.pdf) [Pflichtangaben Verrucid](https://data-storage.live/data/unsec/pt-verrucid-loesung.pdf) [Patientenratgeber Warzen](https://www.infectopharm.de/fuer-patienten/patienten-ratgeber/warzen/) **Link zum Transkript** https://www.infectopharm.de/fortbildung/consilium/podcast/bildung/consilium/podcast/ **Kontakte:** Feedback zum Podcast? podcast@infectopharm.com Homepage zum Podcast: www.infectopharmhttps://www.infectopharm.de/wissenwirkt/tps://www.infectopharm.de/wissenwirkt/ und App „Wissen wirkt.“ für Android und iOS Homepage InfectoPharm: www.infectopharm.de **Disclaimer:** Der _consilium_ – Pädiatrie-Podcast dient der neutralen medizinischen Information und Fortbildung für Ärzte. Für die Inhalte sind der Moderator und die Gäste verantwortlich, sie unterliegen dem wissenschaftlichen Wandel des Faches. Änderungen sind vorbehalten. **Impressum:** _consilium_ ist eine Marke von InfectoPharm Arzneimittel und Consilium GmbH Von-Humboldt-Str. 1 64646 Heppenheim Tel.: 06252 957000 Fax: 06252 958844 E-Mail: kontakt@infectopharm.com Geschäftsführer: Philipp Zöller (Vors.), Michael Gilster, Dr. Markus Rudolph, Dr. Aldo Ammendola Registergericht: Darmstadt – HRB 24623 USt.-IdNr.: DE 172949642 Verantwortlich für den Inhalt: Dr. Markus Rudolph

Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news more vessels are moving out of the Strait of Hormuz, but 'incidents' are generating nervousness in a fragile situation. First, US PCE inflation rose to 4.1% in May and as expected, a rise from 3.8% in April. Core PCE inflation rose too, also as expected and is now at 3.4%. Meanwhile both personal income and personal spending rose at essentially the same pace. More generally, it is not only the Gulf war impacts driving inflation. AI is pushing companies to raise prices to cover its 'investment'. For example, Macbooks and iPads are up +20% on this 'recovery' push. May durable goods orders in the US fell sharply from April, but recall that April was relatively strong. But from a year ago they are also lower, down -4.4%. Capital goods orders dived -21.5% in May from a year ago largely on very weak aircraft orders. US initial jobless claims fell slightly more than expected last week and more than seasonal factors would have indicated. There are now 1.73 mln people on these benefits, lower than year-ago levels. But much tighter requirements are preventing many from claiming this or other social safety net options. The Chicago Fed's national activity index slipped lower in May after the somewhat unusual improvement in April. That means it has decreased in eight of the past twelve months, and was flat in another one. However the Kansas City Fed factory survey was much more positive in that region in its June edition, delivering one of its most upbeat results since the post-pandemic recovery. Global container freight rates rose another +5% last week to extend its rising trend that started in early May by adding +82% in that period. From a year ago it is up only +40%. Driving this latest rise are outbound rate from China to the US West Coast. Bulk cargo freight rates were little-changed this week however, remaining +60% higher than year-ago levels. The UST 10yr yield is now just on 4.39%, down -1 bp from this time yesterday.  The price of gold has risen back to US$4032/oz, up a net +US$54/oz from yesterday. Silver is just on US$58/oz, up +US$1.50 from yesterday. Oil prices are up +US$1 from yesterday at just on US$71.50/bbl in the US, while the international Brent price is now just on US$75/bbl. Hormuz transits have picked up with 41 crude or product tankers exiting over the past 24 hours (3 dark with transponders off) and 21 entering for new loads (3 dark). There are still hundreds yet to try their luck, no doubt inhibited by insurance issues. And overnight one ship was hit by live-fire after an Iran warning and this incident saw the oil price rise. The Kiwi dollar is up +10 bps from this time yesterday at just on 56.5 USc. Against the Aussie we are down -20 bps at 81.7 AUc. Against the euro we are unchanged at just on 49.7 euro cents. That all means our TWI-5 starts today at just on 60.4 which is unchanged from yesterday, and still near its lowest since the GFC in 2009. The bitcoin price starts today at US$59,377 and essentially unchanged from this time yesterday. Volatility over the past 24 hours has again been high at just over +/- 3.1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Simone welcomes Coco to the show! Coco is not only a friend, but a nurse and she shares tips for staying healthy, which include keeping an open mind. Later on, Simone and Coco discuss our golden era of U ST. It has changed so much over the years, but it started as Black Broadway.

Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news of falls in many metrics across the board today, highlighted by commodity prices, crypto and interest rates. Equities are lower too. But the USD is rising on risk-aversion. There is now international agreement to open the Strait of Hormuz ("without tolls") and that is expected to see a rush of hundreds of ships and cargoes on the move, flooding refiners with product just as indications are that demand is weakening. Urea prices are now back below pre-war levels although sulphur prices are remaining unusually high. (Key Chinese sulphur inventories are currently at a decade low.) But first in the US, mortgage applications were little-changed last week as were mortgage interest rates, when refi activity firmed but new purchase activity eased. And that is consistent with new home sales in the US that fell away in May to levels they had in the late stages of the pandemic in 2022. This was surprise because they were expected to rise from April's level. There was also a surprise bigger-than-expected fall in US crude oil stocks last week, extending the outsized trend to nine straight weeks. Again, this is the longest streak of weakness since the post-pandemic 2021-2022 period. Petrol stocks rose however, suggesting much lower demand is the new trend. There was a well-supported US Treasury 5yr bond auction earlier today and the median yield came in at 4.14% (4.20% high), little changed from the 4.12% median at the prior equivalent event a month ago. Across the Pacific, Taiwanese industrial production was up +11.8% in May from a year ago, easing from an upwardly revised 14.9% rise in April. But this was their slowest expansion since January 2025 even if it was a new all-time record high in value terms. Going the other way, Taiwanese retail sales are still rising fast, up +4.9% in May to extend their about +5% growth rate to four consecutive months. Clearly their stellar economic expansion is spilling into the wider consumer community. In Japan, the minutes of the last central bank meeting show its decisionmakers view it appropriate to continue raising its policy interest rate, as underlying inflation has been moving toward the 2% target while financial conditions have remained accommodative. They say that if the economy and prices evolve in line with the Bank's outlook, further rate hikes would become warranted. Some argued Japan's policy rate remains below the estimated neutral interest rate, seen at around 2%, and should be brought closer to that level. It is currently at 1%. In China, their important grain harvest season is well underway with record output and high yields. This is expected to keep Chinese import demand on the lowish side. In Australia, a +6.5% rise in housing costs (mainly from a +21% jump in electricity costs) drove their May CPI 4.0% inflation rate, not fuel or food. But that was lower than the expected 4.4% rate and in fact a four month low. The overall trimmed mean was up 3.6% however, a rise from April. So their underlying inflation trend is still firming. The UST 10yr yield is now just on 4.40%, down another -6 bps from this time yesterday.  The price of gold has fallen to US$3978/oz, down a net -US$152/oz from yesterday. Silver is just under US$56.50/oz, down a huge -US$5.50 from yesterday (-9%). Oil prices are down -US$2.50 from yesterday at just on US$70.50/bbl in the US, while the international Brent price is -US$3 lower and now just on US$74/bbl. Hormuz transits have stayed modest with 13 crude or product tankers exiting over the past 24 hours (1 dark with transponders off) and 12 entering for new loads (2 dark). This is expected to change soon. The Kiwi dollar is down another -30 bps from this time yesterday at just on 56.4 USc and a seven month low. Against the Aussie we are down -10 bps at 81.9 AUc. Against the euro we are also down -10 bps at just on 49.7 euro cents. That all means our TWI-5 starts today at just under 60.4 which is down another -20 bps from yesterday, and still near its lowest since the GFC in 2009. The bitcoin price starts today at US$59,403 and down a sharp -4.9% from this time yesterday. Volatility over the past 24 hours has been high at just over +/- 3.1%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news markets are betting that the next rate move by the US Fed will be a hike. And that has juiced up the USD today. But first, the overnight dairy Pulse auction brought sharply lower prices for the three lines offered. AMF took a -7.5% tumble from last week's full auction event. They didn't release the butter price this time. SMP fell -4.5% from last week and WMP fell -1.9%. But given the retreat of the NZD at the same time (-2.8%) the impact in local currency will be much less. In the US, there was another good weekly jobs indicator from ADP for private payrolls, rising about what was expected. And the flash US factory PMI for June shows solid growth, in fact its best in 4 years, but it also signals lower employment and elevated price inflation, so a mixed bag. The fall in factory jobs was the fastest since the pandemic. New order growth was good but the hikes in input prices are still next-level. Their service sector rose too but much more modestly and new order growth was tame, But none of this showed up in the Richmond Fed's factory survey. While it did expand it was very modest and well below its May level and what was expected. They had the same lack-luster result in their service sector. There was a well-supported US Treasury 2 year bond auction overnight, delivering a median yield of 4.14% (high 4.19%) which was well above the 4.02% median at the same event a month ago. The Chicago Fed boss said yesterday the US inflation is too high and "going the wrong way". (He is presently an alternate FOMC member, but he will be a full member in 2027.) Across the Pacific, Japan's factories are expanding solidly and faster. They recorded a stronger rise in business activity in June, but rate of cost inflation has hit a four-year high. New orders rose their fastest since 2022. Singapore is managing to navigate the current global inflation pressures well. They recorded an inflation rate that held steady at 1.8% in May, unchanged for a third consecutive month and below market expectations of 2%. In India, their flash June PMI's remained elevated and very expansionary, in both their factory and services sectors. New orders rose at a good pace, but input cost pressures eased, rising at a five month low. In Taiwan, we are so used to reporting spectacular results but they no longer seem out of the ordinary. But in fact they remain extraordinary. Their May export orders were up +47% from a year ago to almost a new record high. In Europe, their factory PMI is still expanding in June, but less so. Inflationary pressures show signs of softening there. Holding them back is their services sector. The latest flash PMI for Australia shows that business activity nears stabilisation in June as the service sector improved in Australia, but new orders continue to fall, including for new export orders. And staying in Australia, their latest quarterly update for rural commodities notes that the gross value of agricultural production is forecast to fall by -5% to AU $98.3 bln in the 2026–27 upcoming year. They expect "average broadacre farm business profit" to fall by -70%, driven by lower revenue and higher input prices. The UST 10yr yield is now just on 4.46%, down -5 bps from this time yesterday. The price of gold has fallen to US$4130/oz, down a net -US$50/oz from yesterday. Silver is just under US$62/oz, down -US$3.50 from yesterday. Oil prices are down -50 USc from yesterday at just on US$73/bbl in the US, while the international Brent price is now just on US$77/bbl. Hormuz transits are staying modest up with 16 crude or product tankers exiting over the past 24 hours (7 dark with transponders off) and 20 entering for new loads (2 dark). The Kiwi dollar is down another -40 bps from this time yesterday at just on 56.7 USc and a seven month low. Against the Aussie we are up +40 bps and back at 82 AUc. Against the euro we are down -20 bps at just on 49.8 euro cents. That all means our TWI-5 starts today at just over 60.6 which is down another -30 bps from yesterday, and near its lowest since the GFC in 2009. The bitcoin price starts today at US$63,388 and up +0.4% from this time yesterday. Volatility over the past 24 hours has been modest at just over +/- 1.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the Swiss talks between the US and Iran seem to have made progress overnight, from Iran's point of view at least. The fighting in Lebanon has abated. Oil prices have fallen following the 60 days peace deal roadmap is still in place. To keep the momentum, the US Treasury Department has agreed it will not enforce their sanctions on the production, delivery and the sale of Iranian oil - for at least these 60 days. But of course, Iran has been selling oil before and after these sanctions, although it just got easier for them. Having noted that news, ship traffic in the Strait of Hormuz has in fact changed little so far. Over 400 ships are waiting for confirmed safety before their owners will move them. And in turn, they are waiting for insurers to price their cover at more normal terms. In the US, the Fed is actively assessing how its global dominance in financial markets can be enhanced by linking US Treasuries to USD stablecoins. And staying in the US, we should probably note that Alan Greenspan, who led the US Fed from 1987 to 2006, has died, aged 100. His legacy is controversial, being the originator of "whatever it takes" (The Greenspan put), and which many say led to the ensuing real estate bubbles worldwide. Canada's May CPIcame in at 3.2%, higher than expected and the most since December 2023. Driving the rise was fuel costs of course. On a core basis this inflation is running at 2.2%, about what was expected and only marginally different o April's level. The Chinese central bank has kept its key lending rates (Loan Prime Rates) at record lows for a 13th straight month in its June review. Chinese economic momentum has recently sputtered, delivering mixed economic data, so this cautious no-change was widely expected. Meanwhile China's foreign direct investment indicates significant struggles in attracting and keeping investors from outside the country. On a year-to-date basis, FDI fell -8.3% in yuan terms, down -3.1% in USD terms. But the May activity is much weaker coming it at just a third of year-ago levels and the net was a very minor +US$6.3 bln this year. So far in 2026, these levels are the weakest in at least ten years, probably longer, continuing a trend that is off its 2022 peak. They often talk about 'opening up' but for the past three years they have been shunned and those initiatives are failing. In Europe, consumer sentiment has recovered some in June after their deeply negative fall in May. But it is only a minor recovery and remains deeply negative. In Australia, their housing market is slowing noticeability. This past week and weekend their auction clearance rate fell below 50% and to its lowest in six years. In Brisbane it got as low as 33%. In Sydney it was 47.4%. In Melbourne it was 50.6%. Prices are in a falling trend too. And in spite from the full-court press vested business interests have made against recent Canberra budget moves that affect housing, it looks like voters approve. The UST 10yr yield is now just on 4.51%, up +2 bps from this time yesterday. The price of gold has held at US$4180/oz, up a net +US$25/oz from yesterday. Silver is at US$65.50/oz, up +50 USc from yesterday. Oil prices are down -US$4 from yesterday at just under US$73.50/bbl in the US, while the international Brent price is now just on US$77.50/bbl. Hormuz transits are staying modest up with 10 crude or product tankers exiting over the past 24 hours (3 dark with transponders off) and 10 entering for new loads (2 dark). Most are ships heading for China and India. (Normal is 60 in each direction.) The Kiwi dollar is down -30 bps from this time yesterday at just on 57.1 USc. Against the Aussie we are also down -30 bps at 81.6 AUc. Against the euro we are staying lower at just on 50 euro cents. That all means our TWI-5 starts today at just over 60.9 which is down -30 bps from yesterday, and the lowest since November 2025 The bitcoin price starts today at US$63,388 and up +0.4% from this time yesterday. Volatility over the past 24 hours has been moderate at just over +/- 1.8%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the coming week will be largely about the Strait of Hormuz and whether the US-Iran agreements will hold and traffic resumes at scale. But we start the week with a pessimistic outlook. Iran says it has closed the Strait (again) and it will remain closed until the US honours its commitment to get Israel to stop invading Lebanon. The US seems unable to do that and responded with threats. Talks in Geneva sputter along and it is hard to know if they are meaningful. And that likely means ship traffic in the Strait will be tolled by Iran when things settle, as they eventually will. Away from all that, the local data will focus on May's mortgage and credit card lending. In Australia we will get important updates for CPI inflation (4.3%), jobs growth (+30,000), and household spending (+4.1%). In China, their central bank is widely expected to keep its one-year and five-year loan prime rates unchanged in its June review. They will also release FDI data (likely at least -10% lower from a year ago). Taiwan will update its eye-catching export order data, expected to rise to +50% in May from a year ago. There will be many early June PMI indicators coming out this week including from the US (expect stable or easing). But the big US data will be their PCE inflation report where analysts expect them to report a May level close to 4%. Canada will report its CPI and that is expected to come in at 2.9% but with core readings a bit lower. Over the weekend they reported retail sales rose in April to be +3.7% higher than year-ago levels but unchanged in volume terms. Their May retail sales indicator rose a bit more, but this too may be all about fuel prices more than volume gains. Staying in Canada, their banking prudential regulator lowered its capital buffers over the weekend with the express intent of allowing their banks to lend more to businesses "in support of Canada's economic adaptation to new opportunities": Across the Pacific, Malaysia said it's exports rose a startling +45% in May and far better than the outsized +35% expected - and easily an all-time record high. This is all driven by electronic goods (+71%) although LNG exports were very strong too (+112%). Their traditional rural exports (palm oil, natural rubber) took a hammering however. Meanwhile Malaysia reported May CPI as up just +2.0% in May from a year ago with food prices up just +1.2%. Germany said its May producer prices rose +2.2% from a year ago, the most since June 2023 when most of that intervening prior saw declines. And in Europe generally, they are suffering extreme heat, early in their summer, with temperatures 40o plus in many places. It will be a long summer for them. The UST 10yr yield is now just on 4.49%, unchanged from this time Saturday, up a net +1 bps for the week.  The price of gold has held at US$4152/oz, down a net -US$66/oz for the week. Silver is at US$65/oz, down -US$3 for the week. Oil prices are holding from Saturday at just under US$77.50/bbl in the US, while the international Brent price is now just over US$80.50/bbl. A week ago these prices were US$84.50 and US$87/bbl respectively. Hormuz transits are picking up with 15 crude or product tankers exiting over the past 24 hours (3 dark with transponders off) and 17 entering for new loads (8 dark). (Normal is 60 in each direction.) Australia said it has extended their fuel excise tax relief until the end of July. The Kiwi dollar is unchanged from this time Saturday at just on 57.4 USc to make it a full -100 bps lower than a week ago. Against the Aussie we are little-changed at 81.9 AUc. Against the euro we are staying lower at just on 50 euro cents. That all means our TWI-5 starts today at just under 61.2 which is unchanged from Saturday, down -80 bps for the week. The bitcoin price starts today at US$63,124 and up +1.8% from this time Saturday. Volatility over the past 24 hours has been low at just over +/- 0.6%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Audio is licensed by Shutterstock. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI ---- Kia ora. Welcome to Friday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news financial markets may be moving on from the US-Iran deal, but commodity markets are noting that Iran will now have the opportunity to charge for transit ('fees' but no 'tolls') after a key US concession. The MOUis signed. In the US, jobless claims dipped slightly last week to 219,500 but at about the rate expected as what seasonal factors would have indicated. There are now just under 1.7 people on these benefits, marginally less than a year ago. The Philly Fed factory survey recovered in June after the poor report for May, but only to a level below its 2026 average. These firms said prices paid moved up while the prices they got for their goods dipped. Meanwhile the US Conference Board's leading index rose marginally in May, and this metric suggests its may be coming to the end of its long term down trend that started in 2022. In Canada, producer prices were up +13.6% in May from a year earlier with +1.2% of that coming in the latest month. Of course, most of this was energy related. In fact raw materials costs were up +33% from a year ago within the overall result. There was a lot of central bank action overnight, all timed to follow the US Fed. Taiwan held its policy rate unchanged at 2.0% as expected. Indonesia hike again, up +25 bps to 5.75% quickly following last week's out-of-cycle emergency hike to support their currency. The central Bank of England held unchanged at 2.75% (with two of their nine members wanting a hike). The Swiss central bank held at 0%. The Norwegian central bank held at 4.25%. And the Swedish central bank held at 1.75% a day ago. All these came after last week's +25 bps rise by the ECB. Global container freight rates surged another +12% last week to be +21% higher than this time last year. There were increases in all major trades but the China-EU trade got the biggest hit. Meanwhile, bulk cargo rates fell -8% over the past week to be +36% higher than year ago levels. The UST 10yr yield is now just on 4.44%, down -2 bps from this time yesterday. The price of gold has retreated another -US$44 from yesterday to US$4229/oz. Silver is down another -US$2 at US$66/oz. Oil prices are down -US$1 from yesterday at just under US$75.50/bbl in the US, while the international Brent price is now just over US$78.50/bbl and down -50 USc. Hormuz transits are picking up with 13 crude or product tankers exiting over the past 24 hours and 13 entering for new loads. (Normal is 60 in each direction.) The Kiwi dollar is down -60 bps from this time yesterday at just on 57.6 USc. Against the Aussie we are down -30 bps at 82.0 AUc. Against the euro we are unchanged at just under 50.2 euro cents. That all means our TWI-5 starts today at just over 61.3 which is down -50 bps from yesterday. The bitcoin price starts today at US$62,623 and down -5.1% from this time yesterday. Volatility over the past 24 hours has been high at just under +/- 3.0%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again on Monday.   Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

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Kia ora. Welcome to Thursday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the US-Iran deal temporarily reopens Strait of Hormuz, and offers major concessions to Tehran. Tehran probably can't quite believe its luck here. Trump is battling widespread claims his Iran deal is worse (much worse) than the Obama deal he tore up. In economic matters in the US, their central ban kept it policy rate range unchanged at 3.50%-3.75% for a fourth consecutive meeting, in a unanimous decision and as expected. But updated dot plot projections show that 9 officials foresee at least one quarter-point hike this year, with 6 anticipating at least two. Another 9 expected no move or a cut. They see core inflation rising from 2.7% at their prior forecast to 3.3% by the end of the year. and removed their easing bias. And the next move will be up. This uncertainty got the market's attention. Wall Street retreated, bond yields rose, and the USD rose. Gold fell. But Kevin Warsh's influence can be seen in the fact that the decision announcement had very little detail or context. He is not a fan of central bank transparency. Separately, US mortgage applications fell last week and across the board even though the benchmark interest rate was unchanged (at 6.60%). However American retail sales rose in May from April and by more than expected to be +5.2% higher than year-ago levels. But most of this was due to higher fuel prices. Without fuel, these sales were up +3.6% when inflation was up +4.2%. US pending home sales rose more than expected too, with sales volumes yp +4.8% from May a year ago. That is two months in a row of good gains although on the back of quite weak results a year ago. US crude oil stocks fell an outsized -8.3 mln barrels last week, the largest weekly fall in eight weeks and the most concentrated drawdown of the strategic reserve levels since the pandemic. In fact, their strategic reserves are at their lowest level now since March 1985. a 40 year low. Japan said its exports were up +17.0% in May from a year ago to US$59 bln and its imports were up +12.5% over the same period. Export customers were dominated by China (+17.9% growth ), the US (+12.5%), ASEAN (+20.0%), and the EU (+14.5%). Meanwhile Japan reported its machinery orders were strong too, up +15.6% in April from a year ago, up +8.7% from March. Japan really has its mojo back. In Singapore, they said their exports rose a whopping +38% in May from a year ago to a record high S$87 bln (US$51 bln) in the month, a far larger increase than anyone saw coming. It is clear that despite the US shenanigans on tariffing trade, global trade is in fine shape without them. In China, they are tightening their grip on the rare earth minerals sector with new regulations that cover everything from mining rights and production, to stockpiling and environmental restoration. Everything in the sector is now a national security priority. It might also be worth noting that Russia said its economy shrank in Q1-2026, its first admission of a retreat outside the pandemic period. And the downturn occurred despite sharp rises in the prices of key Russian exports, including oil, natural gas, coal, industrial metals, and grain. The UST 10yr yield is now just on 4.46%, up +4 bps from this time yesterday immediately after the Fed decision announcement. The price of gold has has retreated -US$68 from yesterday to US$4273/oz after the Fed decision. Silver is down -US$2 at US$68/oz. Oil prices are up +US$1 from yesterday at just under US$76.50/bbl in the US, while the international Brent price is now just on US$79/bbl and up +50 USc. Hormuz transits are picking up with eight crude or product tankers exiting over the past 24 hours and 16 entering for new loads. (Normal is 60 in each direction.) The Kiwi dollar is down -20 bps from this time yesterday at just on 58.2 USc. Against the Aussie we are down -30 bps at 82.3 AUc. Against the euro we are down -10 bps at just under 50.2 euro cents. That all means our TWI-5 starts today at just under 61.8 which is down -20 bps from yesterday. The bitcoin price starts today at US$66,016 and up +0.2% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.3%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio license: Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Kia ora. Welcome to Wednesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news it seems Iran is going to come out of the current 'peace deal' with a very large reconstruction commitment. To end the standoff, the US is offering Iran substantial funding even if via convoluted means so that Trump can claim the US isn't involved. The overnight dairy auction brought lower prices that at the prior full event, but not as low as at the the prior Pulse event, nor what the derivatives market was expecting. Still, it was a -2.8% retreat in USD terms, down -1.4% in NZD terms and to the lowest overall level since early February. Generally the powders were softer than expected, the milk fats note as soft as expected. In the US, their weekly ADP employment update signaled a slightly slower pace of hiring, the softest since early March. But this signal is still expanding, just slower. The New York Fed's regional services sector survey found softer conditions in June than at the prior survey with declining activity and firms not very optimistic. Meanwhile the US national housing start data for May revealed sharply lower activity, down -8.7% from the same month a year ago. In fact, apart from the pandemic period, this is the lowest level in 17 years and the GFC.. All eves now turn to the US Fed and their meeting tomorrow. Many economists are betting on higher rates as Kevin Warsh takes the reins at the Fed. But it is no certainty as financial markets see no-change in their rates tomorrow, despite the high US inflation measures. In Canada, their real estate market seems to be recovering led by Toronto and Ontario markets, with national sales rising at a rate in May not seen since 2024. In China, new home prices were -3.5% lower in May from a year ago, matching April's pace and that extends their consecutive decline to almost 3 years. Second hand home prices fell at a faster rate in the 70 major cities that their official data tracks. But there are new pockets where increases are starting to show up, even for pre-owned homes. China said its industrial production expanded +4.5% in May from a year ago, better than the +4.1% in April and better than the expected +4.3%. And their electricity production rose +4.2% in the same period, giving some cred to the industrial production claims (which has been occasionally absent in previous months). But China's retail sales actually fell -0.6% in May from the same month in 2026, following an easing pattern that started in March, and the first decline in retail sales there since December 2022. But much of this weakness is due to lower car buying which was down -16%. Sales of home appliances and audiovisual equipment was also down -16%, home improvement down -11%, gold and silver jewelry down -9%, and furniture down -8.7%. Turning up sharply were beverages and tobacco, clothing and cosmetics, comfort items popular when things are stressful. As expected, the Bank of Japan raised its policy rate by +25 bps to 1.0% today in a 7-1 majority decision. This new rate is its highest in 31 years. In Australia, momentum in their manufacturing sector stalled heading into mid-year, with conditions slipping back neutral after a short-lived recovery. The Middle East conflict is reigniting cost pressures across the industry, according to the latest update of ACCI-Westpac Business Survey for the June quarter. And late yesterday, the RBA agreed unanimously to hold their cash rate target at 4.35% as was widely expected. On the commodities front we should note that while urea prices have fallen (with oil), that is not the case for sulphur, not bitumen. Many commodity prices may stay elevated for a long time yet. The UST 10yr yield is now just on 4.42%, down -4 bps from this time yesterday. The price of gold has recovered further, up +US$20 from yesterday to US$4341/oz. Silver is unchanged at US$70/oz. Oil prices are down another -US$5 from yesterday at just over US$75.50/bbl in the US, while the international Brent price is now just over US$78.50/bbl. Hormuz transits are still minimal with only six crude or product tankers exiting over the past 24 hours. Oddly however its seems the US is using an Iranian ship-transfer tactic to get some cargoes through. And we should note that construction and other costs for electric battery storage stations have fallen below that of gas-fired power plants for the first time, as overproduction in China and a shift away from electric vehicles drove battery prices down -40% in 2025, while a turbine supply crunch is making new gas plants more costly. The Kiwi dollar is up +10 bps from this time yesterday at just on 58.4 USc. Against the Aussie we are up +20 bps at 82.6 AUc. Against the euro we are unchanged at just under 50.3 euro cents. That all means our TWI-5 starts today at just under 62 which is up +10 bps from yesterday. The bitcoin price starts today at US$65,878 and down -1.5% from this time yesterday. Volatility over the past 24 hours has been modest at just under +/- 1.1%. And we should also note that reports suggest Binance is about to lose its licence to operate in the EU. Binance is controlled by Changpeng Zhao (CZ) who was convicted of money laundering in the US (and of course got pardoned there by Trump). You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Title: Markets jump to conclusions ------------------------ Kia ora. Welcome to Tuesday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand. I'm David Chaston and this is the international edition from Interest.co.nz. Today we lead with news the US-Iran deal is being viewed with relief by financial markets, but commodity markets are less enthusiastic. Commodity prices are expected to remain higher than they were in February, before the US and Israel attacked Iran, even after this latest deal to end the war, as it will take months for risk premiums to retreat and give breathing space to commodity-importing economies. However first today, American manufacturing output stalled in May from April to be +1.4% higher than year-ago levels and a lower improvement than expected. Also coming in weaker than expected was the June factory survey for the New York region although they did report a small rise in new orders. The pace of input cost increases remains very elevated however. Meanwhile NAHB survey of housebuilders was little-changed in June, remaining weak on affordability concerns In Canada, May housing starts dipped from the prior month but remain high on an historical basis. Canada also said its April industrial production was strong, with manufacturing sales up +4.2% following a +3.4% rise in March. Sales rose in 17 of the 21 subsectors, led by the fuel products and food subsectors. India said its exports rose to US$45.2 bln in May, a record high for them and +18% above the May 2025 level After three months of declines, industrial production rose in April in the EU in a better than expected result (even if the rise was quite minor). And France is facing US pressure for attempting to get the US tech giant to pay some tax on their French operations. Big Tech has weaponised its support of the US President to try and avoid France's 3% digital services tax. Even that is too much for them. Relying on US tech is risky, and those risks got larger with the US banning key new Anthropic products "from export". The UST 10yr yield is now just on 4.46%, down -3 bps from this time yesterday.  The price of gold has recovered further, up +US$99 from yesterday to US$4321/oz. Silver is up +US$2.50 to US$70/oz. Oil prices are down -US$4.50 from yesterday at just under US$80.50/bbl in the US, while the international Brent price is now just over US$83/bbl. Hormuz transits are still minimal with no significant movements of crude or product tankers overnight. The US went to war with Iran because they would not "negotiate" their surrender. Now Trump claims peace based on a negotiation with a regime he cannot defeat nor control. Likely the "worst deal ever". What could possibly go wrong? The Kiwi dollar is unchanged from this time yesterday at just on 58.3 USc. Against the Aussie we are down -40 bps at 82.4 AUc. Against the euro we are down -10 bps at just under 50.3 euro cents. That all means our TWI-5 starts today at just under 61.9 which is down -10 bps from yesterday. The bitcoin price starts today at US$66,868 and up +5.1% from this time yesterday. Volatility over the past 24 hours has been moderate at just under +/- 2.9%. You can get more news affecting the economy in New Zealand from interest.co.nz. Kia ora. I'm David Chaston and we'll do this again tomorrow. Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Fans demanded it and now the two universities are going to do it! The U of M and UST will meet this season in both men's and women's basketball. Find out how it all happened from the Athletic Director at the University of St. Thomas, Phil Esten

In this episode, we are joined by KC Adviento of OJT Connect as we talk about the importance of connecting people to opportunities that truly match their abilities, training, and long-term goals. The discussion explores how talent can often be overlooked or misdirected, and why creating better pathways for growth benefits not only individuals, but entire industries and communities as well.We also reflect on the realities behind leadership, teamwork, and building under difficult conditions. From delayed success and operational pressure to the value of trust and resilience, the conversation offers practical insights into what it means to continue building with patience, clarity, and a purpose larger than personal achievement.00:01:49 - KC Adviento-Lee, Co-Founder and CTO of OJT Connect00:04:59 - The importance of internships aligned with students' career goals00:09:30 - How studying IT at UST shaped KC's career path00:15:16 - Growing up globally and learning resilience through constant change00:22:10 - Challenges of having a Philippine degree recognized in Canada00:30:54 - Leveraging university networks and lifelong learning00:34:14 - Teaching VR, robotics, agriculture, and emerging technologies00:40:40 - Why senior high school and college are critical stages for mentorship00:46:33 - From FARM to the creation of OJT Connect00:47:02 - Solving distance-learning challenges during the pandemic00:48:02 - Building a model for global internship opportunities00:51:52 - OJT Connect's business model and sustainability00:55:37 - The internship skills gap in the Philippines00:57:32 - The importance of initiative, self-learning, and consistency01:00:26 - Founder challenges: balancing product development and operations01:02:15 - Scaling challenges and future growth opportunities01:04:21 - Inviting employers to support Filipino talent01:05:17 - Advice KC would give her younger self01:05:45 - “Fail hard” and trust the timing of your journeyFollow now and never miss an episode.

A US official said the US military carried out new strikes on an Iranian military site and shot down multiple Iranian drones that posed a threat to US forces and commercial maritime traffic in the Strait of Hormuz.IRGC said it targeted a US air base in response to the US aggression near Bandar Abbas Airport, while it added that any further US attacks would trigger a more decisive response.Air raid sirens sounded in Kuwait, and the Kuwaiti Army said air defences were intercepting hostile missiles and drone attacks, according to Al Hadath.US President Trump said he was not discussing easing sanctions on Iran and would keep control of Iran's money until it behaves, while adding he was uncomfortable with Russia or China taking Iran's highly enriched uranium stockpileCrude futures edged higher after reports of explosions in Iran's Bandar Abbas; 10yr UST futures continued their slide amid a rebound in oil.APAC stocks were pressured amid a flare-up of geopolitical tensions; European equity futures indicate a lower cash market open with Euro Stoxx 50 futures down 1.2%.Looking ahead, highlights include Spanish Retail Sales (Apr), EU Consumer Confidence Final (May), US Initial Jobless Claims (May/23), US GDP 2nd Estimate (Q1), US Core PCE (Apr), US Durable Goods Orders (Apr), US Real Consumer Spending 2nd Estimate (Q1), Atlanta Fed GDP (Q2), ECB Minutes (Apr), SARB Policy Announcement (May). Speakers include Fed's Williams & Barkin, BoE's Breeden, ECB's Lane, Lagarde, Cipollone, Schnabel & SNB's Schlegel. Supply from the UK, Italy & US, Earnings from Dell.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Did Jane Street front-run the Terra collapse? Newly unsealed court filings allege Jane Street used a private Telegram backchannel with Terraform Labs insiders to dump $192 million of UST before the stablecoin's 2022 collapse. The firm then allegedly made $134 million shorting Terra. Jane Street denies the claims. CoinDesk's Jennifer Sanasie hosts "CoinDesk Daily." - This episode was hosted by Jennifer Sanasie. “CoinDesk Daily” is produced by Jennifer Sanasie and edited by Victor Chen.

AMDG. Today we are joined by the University of St. Thomas's Dr. Tom Harmon, who catches us up on the many good things happening at UST but also tells us about the recent grant that the university received from the National Endowment for the Humanities to promote the strengthening of civic life.   Links mentioned and relevant:  More information about UST's NEH grant  The University of St. Thomas in Houston, TX, one of Kolbe Academy's college partners  Related Kolbecast episodes:  72 Participatory Citizens  119 The Hope Throughout with Tom & Noelle Crowe of The American Catholic History Podcast  290 There is No Neutral with Brett Salkeld  Office Hours with Clara Davison of Holy Heroes  109 A Lifetime Venture with Dr. George Harne, formerly of UST/currently of Christendom College  84 The Essence of Catholic Education with Patrick Reilly of the Cardinal Newman Society  Have questions or suggestions for future episodes or a story of your own experience that you'd like to share? We'd love to hear from you! Send your thoughts to podcast@kolbe.org and be a part of the Kolbecast odyssey.   We'd be grateful for your feedback! Please share your thoughts with us via this Kolbecast survey!  The Kolbecast is available on Apple Podcasts, Spotify, and most podcast apps. By leaving a rating and review in your podcast app of choice, you can help the Kolbecast reach more listeners. The Kolbecast is also on Kolbe's YouTube channel (audio only with subtitles).  Using the filters on our website, you can sort through the episodes to find just what you're looking for. However you listen, spread the word about the Kolbecast! 

What if the real power of AI in healthcare isn't the technology itself, but how we apply it responsibly and intentionally? In this episode, Ajoy Ranga, Chief Digital Officer of Healthcare at UST Global, and Ashok Chennuru, Chief Data & Digital AI Transformation Officer at the Digital Platforms and Artificial Intelligence Office at Elevance Health/Carelon, discuss how their partnership between UST and Elevance Health is leveraging AI, data, and digital transformation to improve healthcare outcomes and consumer experience. They emphasize that scaling AI responsibly requires strong governance, human oversight, and a clear stance against using AI to deny care. Both highlight that high-quality, actionable data is foundational, but must be practical, cost-effective, and usable even when imperfect. Ultimately, they stress that success in healthcare innovation comes from starting with user experience, rapidly prototyping solutions, and fostering a mindset of continuous learning and experimentation. Tune in to hear how Elevance Health and UST are balancing innovation with responsibility to unlock AI's true potential in healthcare! Resources: Connect with and follow Ajoy Ranga on LinkedIn. Follow UST Global on LinkedIn and visit their website! Connect with and follow Ashok Chennuru on LinkedIn. Follow Elevance Health on LinkedIn and visit their website!

Joccie talks with Alli Altmann, goalie coach for the 2026 U.S. Olympic Women's Hockey team, assistant goalie coach for the UST women's hockey team, and former standout goalie for the Minnesota State Mavericks.

Daily Snippet vom 07.04.2026 Terra Luna 2.0: Warum der Bitcoin-Markt brennen wird. Immer mehr Retail-Investoren fallen auf Krypto-Influencer herein und investieren blind in Michael Saylors Vorzugsaktie STRC. Sie sehen nicht, was sich im Hintergrund zusammenbraut. Q1 war für Michael Saylor katastrophal – über 14 Milliarden Dollar Verlust! Um das System am Leben zu halten, nutzt er das Geld von neuen Aktionären, um die 11,5% Zinsen der STRC-Investoren zu bezahlen. Es ist ein wackeliges Schneeballsystem. Wenn dieses Konstrukt kollabiert (und das wird es ), wird es nicht nur MicroStrategy treffen. Es wird sich direkt auf Bitcoin übertragen und einen gigantischen Flächenbrand im gesamten Kryptomarkt auslösen – genau wie damals bei UST und Luna. Warum wir im Inner Circle Bitcoin aktuell nur noch als extrem kurzes Trading-Vehikel (für die nächsten 10 Tage) nutzen und langfristig die Hände davon lassen – heute detailliert im Blog!

Discover Leslie Bennett’s insights on being an exceptional athletic training preceptor, her passion for the profession, and advice for aspiring ATCs. Q: What makes you an exceptional preceptor, and why do students consistently choose to learn from you? A: I've been practicing since 2009, having graduated from TXST and then joining MHH. I became a preceptor in 2016 when I joined UST, where I now serve as the Director of Sports Medicine and Senior Woman Administrator. This allows students to experience both the hospital and university aspects of my work. I aim to teach them how to advocate for the athletic training profession. Q: What is your favorite aspect of being a preceptor? A: My favorite part is the daily interaction with students. I enjoy watching them grow throughout their athletic training careers, from start to finish. It keeps me active and engaged, always moving and lifting equipment alongside them. Q: What inspired you to become an athletic trainer (AT)? A: My journey began in high school; I was a student seeking an activity before basketball season. I’ve always wanted to work in healthcare as a “giver at heart,” specifically with an active and motivated population. What truly drives me is the opportunity to inspire athletes to become their best selves. I also focus on imparting life lessons and common sense, helping them mature into adults. Q: Amanii, what made Leslie a good preceptor for you? A: Amanii stated that my personality made me a good preceptor. I am very welcoming and provide a safe space for students to be hands-on and make mistakes. I added that I aim to give students ample opportunities to practice and learn before they are on their own, without overwhelming them. Q: Amanii, is there anything Leslie could have done better to help you? A: Amanii reflected that she is quiet and reserved and needs more one-on-one discussions to talk through things. She also acknowledged that she needs to be more verbal and proactive in asking for help when she needs it. Q: What is the most valuable lesson you’ve learned as a preceptor from students? A: Teaching and conducting skills checks with students is the best thing I’ve learned as a preceptor. This process keeps me fresh, on my toes, and ensures I stay current with the latest practices and information in the field. Q: Jackson, what are the differences in expectations between your first and second-year students? A: As Jackson, I believes in a hands-on approach from the start, as students might not get such opportunities at other sites. First-year students receive more guided practice; for example, I’d bring them along for a concussion evaluation to observe and ask questions. By their second year, I expect them to lead first-year students and attempt any evaluation, acting as mentors. Q: What are your general expectations for first-year and second-year students? A: For first-year students, my main expectation is willingness to work. If you’re comfortable with ankle evaluations, I’ll provide those opportunities, and we’ll build from there. For second-year students, I expect them to mentor first-years and be ready to attempt any evaluation. I added three expectations: be ready for anything, be a sponge, and be flexible. I also stressed not to complain about menial tasks, as students are paying to be prepared. Q: How do you balance your professional and personal life as an athletic trainer? A: As a single AT, my life is simpler, though my lifestyle might be a reason I’m single. Initially, it was challenging to advocate for myself, but now I set strict boundaries with athletes and coaches. My Athletic Director is supportive and helps enforce these boundaries. Jackson emphasizes communication with all parties, especially his wife, using a shared calendar to manage busier seasons and ensure understanding. Q: What are the unique aspects of navigating the athletic training profession as a Black woman? A: As a female AT, I must be prepared to stand my ground against those who doubt my capabilities. It’s important to demonstrate competence in all aspects of the job. Being a Black female AT also means representing diversity and understanding the unique challenges some athletes face, allowing me to advocate for those who cannot. A downside is that my directness can sometimes be perceived as abrasive. It was tougher initially, and challenging moments still occur, but it’s crucial to document incidents as perception is key. Q: What advice would you give to aspiring athletic trainers starting their first year as ATCs? A: I advise networking extensively, as your current professional pool is small. Seek out mentors and build relationships with people at different levels and settings. Attend medical timeouts and district meetings to connect with others. Never assume you know everything; it’s okay to say, “I don’t know, but I will find out.” Contact Us Jeremy Jackson Benjamin Stephenson Layci Harrison Mark Knoblauch Ashlyne Elliott Leslie Bennett Sponsor List Frio Hydration – Superior Hydration products. Xothrm – Best heating pad available – Use “SMB” or email info@xothrm.com and mention the Sports Medicine Broadcast. Donate and get some swag (like Patreon but for the school) HOIST – No matter your reason for dehydration, DRINK HOIST MedBridge Education – Use “TheSMB” to save some money, be entered in a drawing for a second year free, and support the podcast. Marc Pro – Use “THESMB” to recover better. Athletic Dry Needling – Save up to $100 when registering through our link.

At a time when American history and Western Civilization are increasingly contested on college campuses, the University of St. Thomas–Houston (UST) is investing in the importance of developing good Catholic citizenship. We will be exploring their new initiative on this episode of “Follow to Lead” with Dr. Tom Harmon, Associate Director of Catholic Studies at the University. In addition to our discussion of citizenship, we will hear more about UST's $1 million federal grant received from the National Endowment for the Humanities (NEH). The award comes as the nation approaches its 250th anniversary and underscores UST's commitment to the Catholic intellectual tradition and to understanding the American founding within its broader moral, philosophical, and religious context.

What if the real power of AI in healthcare isn't the technology itself, but how we apply it responsibly and intentionally? In this episode, Ajoy Ranga, Chief Digital Officer of Healthcare at UST Global, and Ashok Chennuru, Chief Data & Digital AI Transformation Officer at the Digital Platforms and Artificial Intelligence Office at Elevance Health/Carelon, discuss how their partnership between UST and Elevance Health is leveraging AI, data, and digital transformation to improve healthcare outcomes and consumer experience. They emphasize that scaling AI responsibly requires strong governance, human oversight, and a clear stance against using AI to deny care. Both highlight that high-quality, actionable data is foundational, but must be practical, cost-effective, and usable even when imperfect. Ultimately, they stress that success in healthcare innovation comes from starting with user experience, rapidly prototyping solutions, and fostering a mindset of continuous learning and experimentation. Tune in to hear how Elevance Health and UST are balancing innovation with responsibility to unlock AI's true potential in healthcare.  About Ajoy Ranga: Ajoy Ranga is the Chief Digital Officer of Healthcare at UST. Ajoy Ranga is a distinguished technology executive with over 20 years of experience driving digital transformation in healthcare. As former Vice President of Product Engineering at Elevance Health, he led the strategy and delivery of all external-facing digital channels, impacting millions of members and partners. Ajoy is known for pioneering industry-first innovations—including AI-powered tools, conversational interfaces, and cloud-native platforms—that improved member engagement and operational efficiency. With deep expertise in product-centric engineering, mobile-first design, and scalable architectures, he has built and led high-performing global teams while advancing enterprise agility, AI adoption, and cloud modernization. About Ashok Chennuru: Ashok Chennuru is the Chief Data & Digital AI Transformation Officer at the Digital Platforms and Artificial Intelligence Office at Elevance Health/Carelon. In his role, is responsible for driving healthcare innovation through the transformative power of data and AI across the organization. In recent years, Ashok has led transformational efforts to revolutionize the business, develop foundational AI platforms, enhance operations, drive exceptional experiences, and develop an AI-enabled workforce. Ashok also spearheads much of Elevance Health's clinical and payer-provider integration efforts, including Health OS - an interoperability platform that connects provider, payer, and member data - as well as value-based platforms, population health management, and provider analytics.  Things You'll Learn: Responsible AI must be governed, monitored, and continuously evaluated. AI should augment care decisions, not restrict access to care. Actionable, integrated data matters more than perfectly clean data. Experience-first design leads to faster alignment and better outcomes. Lifelong learning and experimentation are essential for success in modern healthcare technology. Resources: Connect with and follow Ajoy Ranga on LinkedIn. Follow UST Global on LinkedIn and visit their website. Connect with and follow Ashok Chennuru on LinkedIn. Follow Elevance Health on LinkedIn and visit their website.

On this week's show we discuss the details of Ara's new home's layout offering his perspectives on his choices for network, home theater, whole home audio and smart home functionality.  We also read your emails and take a look at the week's news. News: Kodak Luma 500 - Review Launch date, channel list for YouTube TV sports plan revealed Sony, the pioneer of Blu-ray Disc recorders, to pull plug on sales Price concerns remain the leading reason for streaming cancelations Other:  IKEA Smart Home Without Dirigera: Homey Pro, Home Assistant, HomeKit, Google, Alexa & Aqara Ara's New Home Design (Network, Smart Home, and AV) Last week Ara was out in Franklin TN meeting with electricians and security contractors to prewire his house with everything he needs to make adding smart home devices and A/V a snap. So what did he do? But first an email from longtime listener Jorge Beltran with some recommendations. Jorge's email  Guys: I am listening to the latest episode on a train delay in freezing NJ.  I heard the question about sound bar vs 3.1 system vs full surround. I advocate that if money permits and a remodel situation allows it, I would significantly recommend trying to install 5.1, 7.2, or you name it. I have a full theater with 11.2 in the basement that we enjoy and I adore. But we keep watching more and more in the family room next to the kitchen for whatever reason.  And I do enjoy a lot having a surround setup there too and kept adding to it (it was pre wired on a remodel). There was a high WAF in that room, so I went with in-walls for fronts and in-ceiling for rear surround and a couple more for front ATMOS.  Yes, the surrounds and ceiling speakers are not at the ideal locations but they really, really add to the experience, even for the super bowl ambiance.   A friend of mine just upgraded his whole house and used KEF on-walls, very thin, good looking, placed a bit higher and almost looked like a decoration in a more contemporary home.  The wife gave them a big approval.  I checked after looking at my wife's face but are out of my price range. For you Ara, another friend, a latin party guy, installed 6 speakers on vaulted ceilings in the family room next to a kitchen and surrounded by windows, and they work really great. Thus, my vote for Ara is to add ceiling speakers on his vault for surround effects.  Ask the builder to wire them and box them out like a traditional speaker and place them on the rafters.  You build so many speaker boxes already, this one can be made of MDF.  Even better, build your own speaker out of parts, install it on the rafters just below the sheetrock, add a grill and you have the best sounding and looking in-walls ever. Last one, a builder friend just added in walls / in ceilings that go behind the sheetrock.  I have not seen them yet.  No excuses gents. Sending a CafPow for the extra spackle. Jorge Ara's Setup Wifi and Network decision - Ubiquiti Dream Wi-Fi 6 $350 & Ubiquiti Networks UniFi 7 Pro Access Point (POE) $180 Cameras, doorbell, motion sensors - Aqara 4MP Camera Hub G5 Pro PoE  $190 & Aqara Smart Doorbell Camera G410  $130 & Aqara Presence Sensor FP2, mmWave Radar Wired Smart Motion Sensor $58 Light switches - Lutron Caseta Original Smart Dimmer Switch Kit w/ Hub $115. I am only having the company install one or two, I will do the rest as I learn our new routine and decide which switches need automation. I will make use of lamp modules as I prefer those types of lights to recessed lights.  Whole Home Audio - Ara to build/buy speakers and connect to the network via ethernet cables using WiiM Amp: Multiroom Streaming Amplifier $300 TV and Home Theater - For the family room I will use a large format TV with a soundbar. Right now I am leaning towards Sonos Beam Gen 2 and their wireless subwoofer (Sonos Sub 4 $760). For my theater in an upstairs den I will do a traditional setup with atmos. It will consist of an UST, Receiver, and 7.1.2 speakers. Eventually I will build out a more formal theater in the basement. If I live long enough LOL No traditional Cable RG6