Podcasts about UST

Episode four of the Surah Al-Hujurat series by Ust. Zareef Yusuf

Episode three of the Surah Al-Hujurat series by Ust. Zareef Yusuf

Episode two of the Surah Al-Hujurat series by Ust. Zareef Yusuf

Sura Nyaring di Masjid Desa Alur Langsat dekat rumah, imam: Ust. Daud Farma

Shutterstock Track 1219389Monetization ID TFGEPGEI0LHEIJAIKia 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 global interest rates are still moving higher. And that is particularly true for Australian benchmark bonds. Money and commodities are transitioning somewhere, but it is not clear to where, just yet.But first, it is a public holiday in the US (Labor Day) with all their financial markets closed. Given their size, this has meant all other international markets are running at lower levels and in a hesitant mode. But some key shifts are not waiting for the Americans to return.In China, their August foreign exchange reserves were reported overnight and they rose to US$3.44 tln, the second highest level ever but not quite hitting their record May result. That puts them +3.6% higher than year-ago levels. Of note is that they added another +20 tonnes of gold to their reserves in the month, which makes the calendar year increase now almost +80 tonnes. Gold now makes up 10.2% of their overall reserves, although that is down from 11% at the start of 2026.And China announced major funding into eight large SOE institutions to enable them to lend more. It is injecting ¥300 bln (NZ$75 bln) in 'recapitalisation' the most it has done like this in 20 years. The funds will come from Ministry of Finance 'special bonds'. It is the latest and unlikely to be the last of economic support measures to 'reinvigorate' their economy.Japan's July leading index rose to its highest since January 2014 although the June level was revised down. The July level was also slightly below analyst's expectations despite the gain. Rising job offers and consumer sentiment were among the factors behind the rise.Singapore reported that its July retail sales were softer than expected. They were up by +1.5% from a year ago, the softest rise since May 2025 and slowing from a +4% increase in June.The EU reported a better rise in economic activity. The EU economy expanded +1.4% in Q2-2026 in its updated result, up from +1.0% in the previous estimate and much better than the +0.9% growth recorded in Q1-2026. The gain was driven by stronger growth in household spending and gross fixed capital formation, with exports also rebounded sharply. Euro area expansion came in slightly less than the overall EU levels.However German industrial production recorded a sharp and unexpected -1.1% fall in July, to now be -1.6% lower than year ago levels. (The Germans, as usual, report their data on an inflation-adjusted basis unlike many other countries.) The weakness there was from energy-intensive industries, and that includes car manufacturing.In a reaction toe the Saxony state election results, the German stock exchange dipped, and the 10yr German Bund yields rose to their highest since 2010.But they weren't the only bond yields to rise. The Australian 10 year bond yields rose to 5.22% and their highest since 2011. (Of course this has little to do with a German state election.)And the Japanese yen surged against the US dollar overnight, up to the 154 range as growing speculation over faster-than-expected Bank of Japan rate increases combined with renewed possibility of another round of currency intervention by the Japanese authorities drove the moves.We should also probably note that the copper price jumped to US$14,513/tonne on the LME, a record high.The UST 10yr yield is now just on 4.80%, up +2 bps from yesterday at this time.The price of gold is now at US$4407/oz, and down -US$26 from yesterday at this time. Silver is little-changed at just on US$66/oz.Oil prices are up +US$1 at just over US$92.50/bbl in the US, while the international Brent price is just under US$97.50/bbl.The Kiwi dollar is little-changed from yesterday, still just on 58.8 USc . Against the Aussie we are down -20 bps at 81.4 AUc. Against the euro we are holding at 50.6 euro cents. That all means our TWI-5 starts today at just over 62, down -10 bps from yesterday.The bitcoin price starts today at US$79,194and down -0.7 from yesterday at this time. Volatility over the past 24 hours has been modest at just under +/-1.1%.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.Track 1219389Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389Monetization ID TFGEPGEI0LHEIJAIKia 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 we are heading into a week that will deliver a wide set of consumer and producer inflation reports.But locally, the data releases will be light. It is a light data week in Australia too, with only migration updates this week. But we will also get an update on the total value of all houses as at June and that may start to show a leveling off from the March record high AU$12.8 tln. We will also get August consumer and business confidence updates from Australia, and September consumer inflation expectations results.Globally we will be looking for signs of widening cracks in fuel markets as Trump's forever war drags on. In the US they are now on their long Labor Day weekend holiday, ending their summer holiday season. They face petrol prices +40% higher than when Trump started his Persian Gulf war with Iran. Diesel there are almost +80% higher now and that is having broad inflationary impacts in secondary goods costs. That these are rising faster recently is not a sign that Kevin Warsh will be able to ignore, even if he is under renewed pressure from the White House to do so.So of special interest will be the US August CPI update, brought to you by the good folks at the same agency that delivered the strong headline labour market data on Friday (the agency Trump fired the head of a while ago because he didn't like the results they released). A 3.4% headline rate is anticipated, but markets are taking that sceptically. After all, the PCE inflation measure for July was 3.7%. Even if you take both at face value, and the payrolls data at face value, there seems little justification for them not to weigh against inflation at this time. But Warsh & the Fed probably won't, so American inflation is set to be outsized and rising for some time yet.They will also release August PPI data this week, expected to remain elevated at 4.7%. The first September University of Michigan sentiment survey will drop this week too, and this has been very low reflecting unease over unconstrained inflation. And American consumer inflation expectations survey commissioned by the NY Fed will also drop this weekMeanwhile, the ECB will decide on interest rates (expect a +25 bps rise to 2.5%), and Germany will unveil August industrial production data.There will be more trade and inflation data out elsewhere and that includes from China. We expect a larger trade surplus and their low inflation to rise again marginally.From Japan, a raft of economic reports is due, including revised Q2 GDP, July wages and current account data, as well as August PPI, which is expected to show producer inflation accelerating to 7.4%. Their machine tool order update is due too.Over the weekend, the Japanese household spending data that was weak in June got weaker for July, a result that wasn't expected. It was a contraction at the sharpest pace since January 2024. Only the furniture and recreation categories were positive.The US non-farm payrolls was out over the weekend and rose much more than expected in both the headline version and the actual version, up +154,000 in August from July when just a +15,000 rise was expected, up +456,000 from a year ago to 158.9 mln people on payrolls. This result is sharply different to the ADP Employment report which tracks most of this weekly.The broader employed civilian labour force data however isn't so upbeat, showing a -133,000 fall from July, down -621,000 from August a year ago and to 162.7 mln employed people. Take your pick from these two official results, but it does suggest a widening gap where it is substantially harder to sustain employment unless you are on a company payroll.Markets seem sceptical of the strong headline jobs report, suspecting it is something that will be corrected in future. Wall Street is lower, benchmark bond yields are higher, both shifts you may not expect if they did believe the headline data was genuine.Across the border, Canada reported a tougher labour market. Employment there declined by -41,700 in August, missing expectations for a +15,000 increase and following a +75,100 gain in July.In the overall EU, retail sales volume growth slowed to just +1.0% in July from a year ago, from an upwardly revised +1.7% in June. This was slightly lower than market expectations of a +1.1% gain and was the smallest increase in retail trade since April. But at least they have positive volume growth.In Germany they reported a sharp rise in factory orders in July, up +2.5% from June to be more than +13% higher than year-ago levels. This was much better than observers were expecting.In Norway, their gigantic US$2 tln sovereign wealth fund is moving to sharply cut back on its exposure to US Treasury bonds. Yesterday we noted the Dutch move to insulate risks by moving their gold holdings out of the US.Global food prices rose notably in August to their highest since November 2022. All food groups rose including for meat and dairy, although the biggest rises were for cereals, sugar, and vegetable oils.Also globally, perhaps we should note that the value of the top 50 mining companies surged on stock exchanges by a monster +US$350 bln in August alone, taking them back to February levels when the value of gold was US$1000 higher than it is now.The UST 10yr yield is now just on 4.78%, unchanged from Saturday at this time, up +5 bps for the week.The price of gold is now at US$4433/oz, and up +US$9 from Saturday at this time, down -US$29 from a week ago. Silver is little-changed at just on US$66/oz, down -50 USc for the week.Oil prices are holding at just on US$91.50/bbl in the US, while the international Brent price is just under US$96.50/bbl and also little-changed. A week ago these prices were US$83.50 and US$88/bbl respectively.The Kiwi dollar is little-changed from Saturday at just on 58.8 USc but down -30 bps from a week ago. Against the Aussie we are still at 81.6 AUc. Against the euro we are down -10 bps at 50.6 euro cents. That all means our TWI-5 starts today at just over 62.1, unchanged from Saturday, down -50 bps for the week.The bitcoin price starts today at US$79,745 up +0.2% from Saturday at this time, but up +2.7% from last week at this time. Volatility over the past 24 hours has been very low at just under +/-0.4%.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 1219389Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Shutterstock Track 1219389Monetization ID TFGEPGEI0LHEIJAIKia 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 are in a holding pattern today.First we should note that this coming weekend will be a major long weekend holiday in the US, for Monday's Labor Day. The means US markets will likely be quieter than normal until Tuesday their time, Wednesday ours. But they will still release their August non-farm payrolls report tomorrow and that is expected to show a +56,000 jobs gain and continuing the low expansion that has been usual in 2026.Today, the US initial jobless claims data for last week was released coming in at just over +170,000 and slightly more than seasonal factors would have indicated. There are now 1.74 mln people claiming these benefits, lower than a year ago and two years ago on much tighter eligibility requirements.The widely watched ISM services PMI came in marginally better than expected and better than for July with gains in activity and new business, but falling employment metrics. Twelve industry sectors indicated growth in August, one fewer than the previous month, while five reported contraction, up one compared to July. Price pressures remain very elevated at its highest level since August 2022. The S&P Global services PMI was also out overnight showing a similar expansion even if the details were different; jobs growth hits highest since January 2025, and input costs and selling prices increases were at a slower rate. Take your pick.There was an interesting speech from Fed heavyweight Christopher Waller, someone once floated as a possible Trump pick to replace Powell. Perhaps predictably he lined up with Kevin Warsh on pulling back on forward guidance communication, although he has staked out a full need to communicate of most other aspects of Fed thinking. This speech shows he isn't in the camp worried about current inflation risks because he thinks the peak pressure has passed. That tone took some sting out of the US Treasury bond yields today.The US also released its broader trade result for July, covering both goods and services. This confirmed the trade deficit spike we saw in the earlier merchandise-only data. In this case their services surplus was weak, so had a minimal impact on the large and growing goods deficit. Both exports and imports of services fell, notably for travel and financial services. Overall this deficit is now its largest in sixteen months when the pre-tariff stockpiling was at its peak.Canada also reported trade data for July, and while they still have a surplus, it was much narrower that expected. Exports fell while imports rose. It was their first export decline in six months.The Japanese yen has climbed to the ¥155:USD level, its highest since early August as traders priced in the chance of faster Bank of Japan interest rate hikes. The Bank of Japan next meets in two weeks from today.In China, their private services PMI by S&P Global (RatingDog) came in positive and certainly better than the contracting official version. The rise was soft but better than market forecasts. The increase was from better domestic demand, while foreign sales rose for the fourth straight month, but at a more modest pace than in July.The EU said producer prices there rose more sharply in July than June, but only by what they had in May - although that was a fast pace, and well above what they were expecting. For the whole EU, they were up +5.6% from a year ago and largely driven by the +12.5% rise in fuel costs. They were expecting only a +4.6% rise in overall PPI increases. Of special worry however will be that these costs rose at a very fast +1.4% in July from June.In Australia, they advised that their exports fell in July from June by -3.3% and their imports fell by -2.5%, giving them a reduced merchandise trade surplus of AU$1.9 bln. A year ago, that surplus was +AU$6.2 bln.Global container freight rates were unchanged from last week, and are now +110% higher than year ago levels. Global bulk cargo rates are +8.5% higher than week ago levels, in fact now their highest since May 2022. That puts them up +68% from a year ago.The UST 10yr yield is now just on 4.77%, down -3 bps from yesterday at this time.The price of gold is now at US$4486/oz, and up +US$114 from yesterday at this time. Silver has risen +US$2 to just on US$67/oz. Meanwhile the Dutch central bank has confirmed it has moved it gold holdings out of the US "to improve tradability", but likely also to prevent the Trump Administration from using them as a bargaining chip.Oil prices are -50 USc lower at just on US$91/bbl in the US, while the international Brent price is just over US$95/bbl and down -US$1.The Kiwi dollar is up +40 bps from yesterday at just on 58.9 USc. Against the Aussie we are up +20 bps at 81.7 AUc. Against the euro we are up +10 bps at 50.6 euro cents. That all means our TWI-5 starts today at just on 62.2, up +30 bps from yesterday.The bitcoin price starts today at US$81,011 and up +4.7% from yesterday at this time. Volatility over the past 24 hours has been moderate at just on +/-2.8%.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 on Monday.Track 1219389Monetization 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 hostilities in the Persian Gulf are still ongoing and still clouding the global economy First in the US, the latest Fed Beige Book survey reveals an American economy where activity increased modestly since early July. Ten of the twelve Federal Reserve Districts reported modest growth; two reported no change. Consumer spending grew slightly on balance; reports reflecting both heightened price sensitivity on the one hand and solid high-end purchases on the other. Car sales were mostly subdued, dampened by downbeat consumer confidence, high fuel prices, and rising financing costs. And that was reinforced by mortgage applications levels that were little-changed and mortgage interest rates that have stayed high and back at early 2025 levels, now 6.79%. Further, the ADP monthly employment report for private payrolls delivered a +38,000 jobs gain in August, lower than for July and lower than the +47,000 expected. It was a seven month low. Saturday will bring the US non-farm payrolls report update for August which is expected to show a gain of +58,000 - which now may be on the high side. US payroll growth has essentially evaporated since early 2025 and the start of the Trump 2 presidency. New factory orders however were reported to have risen +10.4% in July from a year ago. This is an impressive result, but you would have thought that activity and employment data would show that surge. However some of the largest gains are in defense aircraft and computer equipment (data centers) which don't have a lot of jobs attached to them. US crude oil stocks fell again last week and by about double what was expected. And their Strategic Reserves fell too, and by a similar amount. These are dangerously low now. In Canada their central bank reviewed their policy interest rate by kept it at 2.25% as expected. They seemed somewhat surprised at the resilience of the Canadian economy given the economic attacks from the US, but they also now see that resilience continuing despite the substantial adjustments they have to make. Canadian benchmark bond yields are rising, today at a two year high. But this isn't especially high given the threats. The somewhat hawkish tone wasn't expected and the chances of rate hike there have probably increased. In Australia, it is coming to light that their central bank has downgraded the US dollar for its foreign currency holdings. (The RBA is somewhat unusual in that they have revealed that pullback. It is likely happening in many other central banks too, as IMF consolidated data suggests.) And staying in Australia, they released their Q2-2026 economic activity data today, showing a +0.4% expansion for the quarter, to be up +2.1% (real) from a year ago. That was much better than the expected +1.8% expansion. Their per capita growth was only up +0.7% however. The widely expected slowing in 2026 has been much less than observers had expected. And that has significantly boosted the AUD and Australian Government bond yields. The UST 10yr yield is now just on 4.79%, down -1 bp from yesterday at this time. The price of gold is now at US$4372/oz, and upUS$37 from yesterday at this time. Silver has risen +50 USc to just under US$65/oz. Oil prices are up +US$1.50 at just over US$91.50/bbl in the US, while the international Brent price is just under US$96/bbl The Kiwi dollar is down -40 bps from yesterday at just on 58.5 USc. Against the Aussie we are down -90 bps at 881.5 AUc. Against the euro we are also down -30 bps at 50.5 euro cents. That all means our TWI-5 starts today at just on 61.9, down -50 bps from yesterday. The bitcoin price starts today at US$77,353 and essentially unchanged from yesterday at this time. Volatility over the past 24 hours has been low at just on +/-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. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Episode one of the Surah Al-Hujurat series by Ust. Zareef Yusuf

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 bond yields worldwide climbing as rising oil prices are raising inflation concerns. Financial markets have raised the chance of widespread interest-rate hikes. US Treasury 10 year yields hit 2025 highs at 4.8%, while Japan's equivalent rate hit 3% for the first time since 1996. German bund yields climbed to 15-year highs and UK gilt yields to 18-year highs. Not helping are a new round of attacks by a trigger-happy US on Iran. But first, there was a full dairy auction overnight and the overall results were modestly positive. Prices in USD were up +0.9% and up +0.6% in NZD. The big mover down was cheddar cheese suffering a -6.6% fall. The big mover up was SMP with a +5.3% gain. WMP was very little-changed. In fact, SMP prices are now higher that WMP prices, the first time like this since July 2022. In between, the WMP premium actually got as high as +US$1550/tonne. In the US, there were two factory PMIs out for August, both essentially holding a moderate expansion there. The widely-watched ISM one came in fractionally lower than for August, with new orders growing at a slightly slower rate and price pressure little-changed. The internationally benchmarked S&P Global one was little changed, noting output and orders both rising at slower rates, with stock building efforts continuing amid supply issues and higher prices. The US Logistics Managers' Index fell for a second consecutive month due to a slowdown in inventory expansion, while logistics costs continued to rise at a high pace. July JOLTS data shows job openings rising while quits fell, but these changes were actually quite minor. The US RCM/TIPP optimism index is still in an easing trend that started in early 2025, but it has held at a modest level in August, similar to the June and July levels. There were offsetting shifts with greater confidence among investors and higher-income households, but a deterioration in sentiment for non-investors and lower-income households. Meanwhile the Dallas Fed services sector activity moderated in August, but is still expanding. The Canadian factory PMI was little changed where their expansion was maintained at solid rate with output, new orders and employment all rising in August. Japanese consumer sentiment rose again in August, something it has been doing consistently since April. As we suspected, the private China factory PMI by S&PGlobal (Rating Dog) came in much more positively that the official version, and expanded at a rate that beat estimates, even if it is modest. How sustainable that improvement is will be interesting to see because input price inflation rose but output prices fell for first time in 2026 so far. And we should probably note that China's government debt is now at ¥100 tln for the first time (NZ$25.3 tln),107% of their GDP. And that is just their central government. (But to be fair, a notable part of that rise involves a shift from old opaque local government debt to a more transparent national treatment.) While that may seem high (and it is), the equivalent US federal debt level is 124% of their GDP. For New Zealand it is 49%, for Australia 34%. EU CPI inflation came in at 3.3% in August, the expected level, but up from 2.9% in July. All this rise was fuel cost related. Their core CPI rate actually dipped slightly to 2.4%. Meanwhile, German retail sales actually fell, and quite hard, down -2.5% in real terms in July from a year ago with the current month drop an outsized -3.4%, so the recent bite has been aggressive. In nominal terms there year-on-year levels are just level-pegging. Australian building consents were expected to fall in July and they did, and by about the expected amount, down -3.6% from June to remain up +9.0% from a year ago. House consents fell -4.2% but multiunit consents held little-changed (-0.4%). Still, that leaves the multiunit sector up almost +20% from a year ago. (Some of those are likely to have been Bathla developments in Western Sydney, so are unlikely to proceed now.) The UST 10yr yield is now just on 4.80%, up another +4 bps from yesterday at this time. The price of gold is now at US$4335/oz, and down -US$97 from yesterday at this time. Silver has fallen -US$1.50 to just under US$64.50/oz. Oil prices are up +US$4.50 at just over US$90/bbl in the US, while the international Brent price is just under US$94.50/bbl. The Kiwi dollar is down -30 bps from yesterday at just on 58.9 USc. Against the Aussie we are down -20 bps at 82.4 AUc. Against the euro we are also down -20 bps at 50.8 euro cents. That all means our TWI-5 starts today at just over 62.4, down -30 bps from yesterday. The bitcoin price starts today at US$77,297 and down -2.0% from yesterday at this time. Volatility over the past 24 hours has remained modest at just on +/-1.2%. 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 renewed fighting in the Persian Gulf from Trump's 'forever wars' is pushing oil prices up again and sentiment lower on the impending new shot inflation will get. So, the yield on the US 10-yr Treasuries rose again now to 4.76%, its highest since January 2025. with market bets rising for a US Fed rate hike later this month. But all the US news isn't downbeat. A surge in new orders has accelerated the Dallas Fed factory survey up sharply to its most positive level since January 2025 which was its best since the pandemic recovery, even it that was an isolated event. Price pressures were stable but markedly elevated, rising further for prices paid but easing slightly for prices received. Across the Pacific, and after the unexpected fall in June, Japanese retail sales surged back in July to be +4.4% higher than year-ago levels and restoring the strong gains they have been posting since March. In China, their factory PMIs for August improved marginally as expected but not by quite enough to avoid another contraction. Meanwhile their service sector PMIs were also expected to improve, but they didn't, staying with the same contraction they recorded officially in July. We need to note that these official surveys have been running more conservative than the private S&P Global alternatives recently. The S&P Global version is due out tomorrow for the factory sector, and on Thursday for the services sector. India said its Q2-2026 economic activity expanded +7.8% from a year ago, the same as in Q1-2026 and much better than was expected (+7.1%). Germany said it's consumer price inflation rate edged up to 2.9% in August, its highest since April, but below market expectations of 3.0%. In August fuel costs rose more than +10% but food was up only +0.1% from a year ago. In Australia, the Melbourne Institute's survey shows inflation expectations rose by 0.2 percentage points in August to 4.9%. This follows from a three-month period of moderating inflation expectations. Wage expectations also rose in August, after remaining static for a prolonged period. And staying in Australia, Cotality reported that house prices fell -0.9% in August from July, following a -1.2% decline in July. Overall, house prices are now -3.6% below their peak, although still +2.7% higher than a year earlier. The housing downturn has now spread across more capital cities and regional centers, and further policy tightening by the RBA points to tougher conditions ahead. Sydney and Melbourne again led the declines, falling -4.6% and -4.7%, respectively from this time last year, the only capital cities to now be lower on an annual basis. And of course, this comes at the same time NSW Bathla has essentially collapsed, waiting to see it it can get some lifeline loans to finish some in-progress developments. But essentially it is kaput. There is a pre-insolvency scramble underway over the dying carcass. And staying in NSW, they have had their warmest winter in more than 150 year of records. Now the whole east coast is getting ready for a sizzling summer, as strong as Europe is having. Essentially there was no ski season at Threadbo this year, for the first time ever. New Zealand should prepare for an influx of climate refugees. More generally, international air cargo volumes were up +4.7% in July from a year ago, up +5.2% in the Asia Pacific region. Interestingly, air cargo volumes into the giant US market were up more than +7%, but they shrank around their domestic market. Meanwhile international passenger travel actually fell in July, not by a lot to be sure, but a fall is unusual. Both Middle East and US travel shrank. International travel in the Asia Pacific region declined too even if not so pronounced. Australian domestic travel shrank in a similar manner. The UST 10yr yield is now just on 4.76%, up +4 bps from yesterday at this time, down -2 bps for the week. The 30 year yield is at 5.25%, also up +4 bps and almost back to its October 2023 levels again. The price of gold is now at US$4432/oz, and down -US$22 from yesterday at this time. Silver has held at just over US$66/oz. Oil prices are up +US$2 at just over US$85.50/bbl in the US, while the international Brent price is just on US$90.50/bbl. The Kiwi dollar is up +10 bps from yesterday at just on 59.2 USc. Against the Aussie we are holding at 82.6 AUc. Against the euro we are down -10 bps at 51 euro cents. That all means our TWI-5 starts today at just over 62.7, up less than +10 bps from yesterday. The bitcoin price starts today at US$78,879 and down a very minor -0.2% from yesterday at this time. Volatility over the past 24 hours has been modest at just on +/-1.2%. 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 central banks are being forced to acknowledge that their measured approach to inflation control over most of 2026 just hasn't worked and they need a refreashed, tougher approach. Locally this week, the highlight will be Wednesday's full RBNZ Monetary Policy Statement. With inflation running at 4.1% and rising (it has risen every quarter since December 2024), every observer and financial markets are expecting a full +25 bps rise to 2.75%. The next review is on October 28 which is just over a week before the general election. So we will see just how focused the Breman RBNZ really is on weighing against inflation, even in the face of political pressure. We will get the next CPI result on October 22, and that will be a telling indicator. Financial markets currently price in another +25 bps OCR rise then, at a 60% chance. We will also get many updates about the local August residential reals estate market, and we will get July building consent data. In Australia, there will residential real estate updates too, building consent data, and they will reveal their Q2-2026 GDP expansion rate, expected to be up +1.6% from a year ago, much lower than the Q1-2025 expansion of +2.5%. In the US, the developing conflicts between the Fed's desire to rein in inflation, and the Trump Administration's actions to ignore that threat and to try and push down interest rates will increasingly be watched by markets. There will also be PMIs out pointing to economic activity changes, and the week will end with their August non-farm payrolls report which is currently expected to show a very minor +45,000 jobs expansion. In Canada there will be a rate review although no change is expected from the current 2.25%. They have a 3% CPI level, and a major challenge from their obnoxious neighbour to contend with. Japan will release a broad range of economic reports, including the latest industrial production, retail sales, consumer confidence, housing starts and household spending data. India will release GDP data (expect +7.1%). Malaysia will review its policy rate, but no change is expected from the present 2.75% And there will be PMIs everywhere. And that includes China. Over the weekend, Japan reported a 2.4% jobless rate in July, their lowest in more than a year and their second lowest since before the pandemic. And it seems Japan can still surprise. Births from January through June were 342,068, up +0.8% (+2,788 more) from the same period in 2025. It was their first rise for the first half of the year in 11 years. Malaysia said producer prices there rose at a very fast +9.7% rate in July, their fastest since the pandemic and before that since early 2017. India reported that its industrial production eased back from a +9.5% expansion rate in June to +7.3% in July. But this was still a better result than anticipated. Meanwhile, Indian bank loan growth has stayed extraordinarily high, up +18.3% from a year ago. In China, mirroring the Evergrande disaster, China Vanke's first-half loss widened to -¥16 bln as sales slumped and debt pressure built. Upcoming debt maturities may trigger the end of it. And the EU released the August results of its business and consumer sentiment surveys. The net outcome is improving sentiment, especially business sentiment. Only consumer sentiment remains low but it is marginally less so in August. In the US, in his Jackson Hole speech, Fed boss Kevin Warsh flagged that inflation in the American economy is too high but he offered no indication whether he favours keeping interest rates at current levels or pushing them higher. But he did restate that 2% is their inflation target. He gave no indication of rate policy but the inflation warning was enough for financial markets to conclude rate rises are more likely. Especially as he likely doesn't have the votes for a hold or cut. In the real American economy, the Chicago PMI fell sharply in August into a contraction. The fall was driven by declines in New Orders, Order Backlogs, Production and Supplier Deliveries. It was their first fall in four months and discouraging, suggesting the stockpiling trend may be ending as inventories are now well built. Meanwhile, the US non-farms payrolls data has gone through their annual adjustment. That says their previous reports of job growth were overstated by 79,000. And that is an adjustment of weak results in the first place. It is another discouraging signal. And the University of Michigan consumer sentiment August survey was updated too, confirming its early month reading, falling about -6% from last month and landing about -11% below a year ago. They noted continued worries that inflation will remain elevated for the foreseeable future. Current levels are near the post-pandemic lows. In fact they are near the low points this survey got in the pandemic. In Canada, they reported a revised Q2-2026 GDP expansion of +3.3% for the year. They noted that their household saving rate reached 3.7% in the quarter as growth in disposable income (+2.1%) outpaced nominal household spending (+1.7%). But they also flagged that the July expansion has vanished, no expansion in this latest month. Given the problems with their southern neighbour, it is hard to see an expansion continuing. The UST 10yr yield is now just on 4.72%, down -1 bp from Saturday at this time, down -2 bps for the week The price of gold is now at US$4454/oz, and down -US$8 from Saturday at this time, down -US$167/oz for the week. Silver has fallen -50 USc to just over US$66/oz and a -US$3.50 weekly fall. Oil prices are holding from Saturday at just under US$83.50/bbl in the US, while the international Brent price is just on US$88.50/bbl. The Kiwi dollar is unchanged from Saturday at just on 59.1 USc, down -70 bps for the week. Against the Aussie we are holding at 82.6 AUc. Against the euro we are up +10 bps at 51.1 euro cents. That all means our TWI-5 starts today at just over 62.6, essentially unchanged from Saturday, down -70 bps for the week. The bitcoin price starts today at US$79,010 and up +1.7% from Saturday at this time. Volatility over the past 24 hours has been low at just on +/-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. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Simon Mayes, Head of UK, Ireland & Swiss FX Corporate Sales to discuss the key takeaways from the Jackson Hole speech by Fed Chair Kevin Warsh. Derek also discusses the fleeting USD debasement focus following the UST bond buyback announcement earlier in August and the implications of the speech by BoJ Deputy Governor Himino.

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 are awaiting a Kevin Warsh speech at the Jackson Hole symposium, specifically about how he sees the Fed's role when the US Treasury seems to be undermining it. What he says about the fight against inflation, if anything, will be revealing. This has markets hesitating today in anticipation. Although, equity markets are bullish off the strong Nvidia results. US initial jobless claims fell marginally last week, and by marginally more than seasonal factors would have anticipated. There are now 1.78 mln people on these benefits, little different to a week ago but -7.5% less than a year ago. The US merchandise trade deficit has come in at -US$119 bln in July, up US$17.4 bln from unusually high -US$101 bln in June and the -US$101 bln in the same month in 2025. Apart from the rush to beat upcoming tariffs just after Trump took office in early 2025, this latest result is a record high. Americans seem happy to pay these tariffs to get the products they need. Exports fell from June while imports rose on the same basis. At the same time, the stockpiling trend seems to be gathering pace. US retail inventories rose in July as did wholesale inventories and both at an unexpectedly faster pace. Both are now at record high levels. Retail inventories are +3.9% higher than year ago levels now, with wholesale inventories up +5.6% on that basis. There could be an unwelcome reckoning if firms come to decide they are over-stocked. History shows their boardrooms are usually unhappy with excessive stocks. Meanwhile the Kansas City Fed factory survey shows this with a little-changed report that is holding its expansion. New order levels are similar to last month but are falling for export orders. Input costs are rising faster than selling prices. There was a US Treasury 7 year bond auction earlier today where the median yield came in at 4.46% (4.51% high). That is more costly that the prior equivalent event a month ago. In Canada, they reported a surprise current account surplus of +C$8.8 bln in Q2-2026 from a deficit of -C$8.3 bln in the prior quarter and an expected -C$2 bln deficit. It is their first quarterly surplus since the 2022 and the largest since 2005. Across the Pacific, China said it's industrial profits rose more than +11% in July from the same month a year earlier. As good as that is, it was the softest pace this year. The Bank of Korea has raised its policy rate by +25 bps today to 3.00% in a second consecutive move up. They target a 2% inflation rate. Korea has inflation at 2.8% although it did dip in July. And the Philippine central bank raised its policy rate by +25 bps to 5%, all as expected. They target a 2-4% range and have current inflation at 6.2%. Taiwanese consumer sentiment was little-changed in August, staying better than it was earlier in the year. But from a long term perspective, it has been relatively low since the pandemic. Locally, after Wednesday's above expectation Australian CPI result - and plenty of evidence in that that non-fuel, less volatile items are rising in price faster now - we noticed an uptick in the pricing for a chance of a late-September rate hike by the RBA. True, it isn't an odds-on chance yet, but a notable one-day reaction. Currency markets rose on the prospects too. NAB is tipping a September rate hike now. And staying in Australia, household spending leapt +7.0% in July from a year ago, the fastest growth in the past ten years (apart from during the pandemic recovery). The +1.1% rise in July from June builds on the June +1.0% monthly rise, and the +1.2% May rise. This is impressive momentum. Financial markets had expected only a +0.4% monthly rise and a +4.4% year-on-year rise. It was a broad-based expansion in every sector other than for "furnishings & household equipment". Likely no one saw a result this positive coming. It will bolster bets the RBA will push through a rate rise sooner. Global container freight rates have stayed high, dipping just -1% over the past week. That puts them +111% higher than a year ago. Bulk cargo rates are up +10% for the week and nearing their yearly high again. From a year ago these rates are up +50%. The UST 10yr yield is now just on 4.67%, unchanged from yesterday at this time. The 30 year yield is at 5.19%, and also unchanged. The price of gold is now at US$4604/oz, and virtually unchanged from yesterday at this time. Silver has risen +US$1 to just over US$69/oz. Oil prices are up +US$1.50 from yesterday at just over US$84/bbl in the US, while the international Brent price is up the same at just over US$90/bbl. The Kiwi dollar is up +10 bps from yesterday at just on 59.5 USc. Against the Aussie we are down -20 bps at 82.7 AUc. Against the euro we are up +10 bps at 51.1 euro cents. That all means our TWI-5 starts today at just over 62.9, and little-changed from this time yesterday. The bitcoin price starts today at US$80,434 and up +2.5% from yesterday at this time. Volatility over the past 24 hours has remained modest at just on +/-1.6%. 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 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 of more data that suggests the US economy is not regaining any momentum, and may be about to be tested by record high diesel prices. US mortgage application levels dipped again last week from the prior week, mainly due to much lower refinancing levels as the high (6.78%) mortgage interest rates stay firm at these levels and a one year high. Meanwhile US PCE inflation stayed up in July at 3.7% when it was expected to show a small dip. The month-on-month rise was much more than expected. Personal spending rose +5.8% while personal disposable incomes were up +4.2%.from a year ago. So the squeeze continues, and although masked by inflation, many households will be feeling it. And US diesel prices are now at record highs. US GDP Q2-2026 second estimate came in at a modest +1.5%, and unchanged from its first estimate. Marginally stronger consumer spending was offset by weaker investment and more imports. The US July durable goods order report came in positively, up +12.9% from the same month a year ago. But without aircraft or defense, it was up +8.7%. Capital goods orders on the same basis were up +13.5%, probably reflecting data center activity. US crude oil stocks were little-changed last week, a bit less than the modest rise expected. Diesel stocks have hit record lows. Meanwhile, Meta has agreed to an US$18 bln penalty to be paid over the next decade to resolve claims it designed its social media platforms to addict children. It will change the way it interacts with children. Four of the states who brought the court claim - California, Colorado, Kentucky and New Jersey - were expected to seek substantial civil penalties as wells. In China, they have China has opened applications for an ¥800 bln policy-based financing tool for local government projects to shore up its slowing economic growth. But there are questions about how much impact this will have in 2026. Singaporean industrial production extended its very positive run in July, up +5.8% from the same month a year ago and gains similar to most month in 2026. In Australia, inflation fell in July as expected but not by as much as expected. Their June 3.8% rate fell to 3.5% in July but still well above the expected 3.2% rate assumed by financial markets. That gave the AUD a bounce, likely on the basis that the RBA's tolerance for still-high inflation may be about to get tested. The next RBA rate review is on September 29 however, and the August CPI data won't actually be known by then (September 30) - by the markets, at least. The RBA's inflation target is "between 2 and 3 percent", but it has been over 3% consistently every month for more than a year now. Global wheat prices are up sharply again today, and to new post-pandemic highs, as Black Sea shipments from both Russia and Ukraine have essentially stopped and prospects for resumption look grim. The UST 10yr yield is now just on 4.67%, up +3 bps from yesterday at this time. The 30 year yield is at 5.19%, up +1 bp. The price of gold is now at US$4603/oz, down -US$45 from yesterday at this time. Silver has fallen -US$1 to just over US$68/oz. Oil prices are up +50 USc from yesterday at just over US$82.50/bbl in the US, while the international Brent price is unchanged at US$88.50/bbl. The Kiwi dollar is down -30 bps from yesterday at just over 59.4 USc. Against the Aussie we are down -50 bps at 82.9 AUc. Against the euro we are down -20 bps at 51 euro cents. That all means our TWI-5 starts today at just under 62.9, down -30 bps from this time yesterday. The bitcoin price starts today at US$78,459 and down -0.5% from yesterday at this time. Volatility over the past 24 hours has remained modest at just on +/-1.1%. 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. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Ray Dalio says the United States is approaching a debt crisis, or maybe is already in one. The government knows UST demand is becoming a problem, so the argument goes, and it is quietly trying to control the bond market with buybacks before the situation gets out of control.But what you probably don't know is that there are ways to test Ray Dalio's warning. We did. 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----------------------------------------------------------------------------------Eurodollar University Live 2October 9-12, West Palm Beach, Florida40 seats exist. Application only.https://eurodollar-university.com/edu-conference-2026----------------------------------------------------------------------------------https://www.cnbc.com/2026/08/21/ray-dalio-bessent-debt-crisis-bitcoin-gold.htmlhttps://www.bloomberg.com/news/articles/2026-08-21/dalio-says-sell-bonds-buy-gold-bitcoin-as-debt-crisis-loomshttps://www.usdebtclock.org/https://www.principles.com/big-debt-criseshttps://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 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 oil price has eased overnight on signs of new negotiations between the US and Iran, and relief that the US sanctions weren't as advertised. They exempted Chinese banks, for example. And China said it will support Iran. But first overnight, the Pulse dairy auction delivered higher prices from last week's full auction event - in USD terms at least. For example WMP was up almost +1%. But the rising NZD turned that into a -0.7% softening. In the US, ADP weekly private jobs update remains very low with less than +12,000 new jobs added over the past four weeks. Sales of new homes in the US were unusually low as well with the July level the lowest for that month since 2017 (apart from the pandemic 2022 drop). That puts them -6.5% lower than year-ago levels. The Richmond Fed's factory survey came in with a positive overall outcome in August, but lower than for July and the lowest since April. Re-shoring isn't a thing in the Mid-Atlantic states. The growth rate of prices paid and prices received rose in the month. Meanwhile their services survey in the region revealed slowing activity, with only slight increases in prices and costs. And that is consistent with the pullback in consumer sentiment as measured by the Conference Board in the US. It is measure that has been falling away since early 2025. There was a less well supported US Treasury 2 year bond sale overnight, but the yield dipped to 4.16% (4.20% high) from the prior equivalent event a month ago of 4.27%. In Canada, they reported lower wholesale sales in July, ending a run of expansions. The decline mainly reflects lower sales of agricultural supplies and minerals and ores. Otherwise little change. In the escalating trade war the US is waging on Canada, Canada has responded with 50% duties on American dairy products, steel, farm equipment, and appliances. And copper has risen to a new record high on the uncertainty surrounding US tariff policies. It isn't the only metal trading in the stratosphere of uncertainty. Tin is another example. Taiwan's July update of industrial production extended its outsized growth reporting (+26.9% from a year ago). And that was matched with high growth of retail sales there (+7.7%) Later today we will be watching the July CPI update from Australia where a fall in the rate from June's 3.8% to 3.2% is anticipated. Meanwhile, they are dealing with some major events. Firstly in NSW, a major home builder has collapsed. The Bathla Group has failed owing AU$3.6 bln in debt supposedly due to soaring construction costs which they can't recover just as a sharp decline in property sales hit them. Construction activity has frozen across approximately 15,000 homes, townhouses, and apartment developments currently underway. The vast majority of the AU$3.6 bln of debt is owed to private credit funds and non-bank lenders. There are sure to be cascading impacts. And bird flu is spreading faster now in Australia. So far more than 300 dead bird events have been confirmed out of 27,000 reports of unexplained dead bird events. The UST 10yr yield is now just on 4.64%, down -6 bps from yesterday at this time. The 30 year yield is at 5.18%, down -5 bps.  The price of gold is now at US$4648/oz, up +US$12 from yesterday at this time. Silver has firmed +50 USc to just under US$69/oz. Oil prices are down -US$3 from yesterday at just over US$82/bbl in the US, while the international Brent price is just under US$88.50/bbl and down -US$3.50.  The Kiwi dollar is up +20 bps from yesterday at just over 59.7 USc. Against the Aussie we are up +10 bps at 83.4 AUc. Against the euro we are also up +10 bps at 51.2 euro cents. That all means our TWI-5 starts today at just over 63.2, up +20 bps from this time yesterday. The bitcoin price starts today at US$79,195 and up +0.4% from yesterday at this time. Volatility over the past 24 hours has remained modest at just on +/-1.7%. 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 we head into the final week of the northern holiday season with financial markets reacting to tough news on multiple fronts. US missteps are catching up with them and that is driving higher interest rates and a lower USD, both a which involve an economic squeeze. Then there is the collapse the US-Canada trade relations which has pushed Canada to matching the new US tariffs. This will hurt both countries, Canada as expected, but the US more than they realise. Carney has brought back the Trudeau response, and this time Canadians have rallied around that reaction. Some significant parts of the US are going to get much higher prices. And as Canada supplies the most of its imported oil and gas, if Canada adds tariffs there, the impact on the US will be magnified. All this will be grist for the Jackson Hole symposium which will be on from Friday to Sunday (NZT). There will be some worried central bankers showing up, and that probably includes Kevin Warsh, likely feeling undermined by Scott Bessent. The outlook on global interest rates and long-term sovereign yields will again be a key focus this week as investors grapple with rising energy prices, increasing deficit spending, and soaring corporate debt. In the US it will be about personal income and spending, PCE inflation, and durable goods data for July, in addition to the key annual revision to nonfarm payrolls. Japan will release consumer confidence survey results and its jobless rate, while rate decisions are due in Korea and Thailand which are widely expected to keep their policy rates unchanged at 1% and 2.75%, respectively, while the Philippine central bank could deliver a +25 bps rate hike to 5% as the country continues to face elevated energy and food prices alongside recent wage increases. Locally it will be about Q2-2026 retail trade outcomes and current employment indicators, some mortgage and KiwiSaver data, and the week will end with the June update to the RBNZ's Dashboard. And in Australia, investors will watch July inflation data where an easing from 3.8% to 3.2% is expected. And Q2 capital expenditure and household spending figures will also drop this week In China, investors will focus on the National People's Congress Standing Committee meeting in Beijing from August 25-28, where authorities could signal additional policy support following a string of weak economic data. They will also release July industrial profit results. Over the weekend, China reported US$11.1 bln in foreign direct investment in July, which was half the US$22.8 bln in July 2025. Year to date, their foreign direct investment is running -8.8% lower than in the same period a year ago. And also over the weekend China said its forklift sales are going gangbusters in 2026, both for internal use and for export. CPI inflation rose to 1.9% in Japan in July, their highest since December 2025. (Food prices were up +3.5%.) While the headline rate and the core rate both remain below the Bank of Japan's 2% inflation target, the rising trend may be enough for them to raise their 1% policy rate at their next review on September 18, 2026. They have other reasons to raise their policy rate (like, defending the yen, yielding to the US, needing to get back to 'normal' at some stage, etc.) so this may swing it. Japanese business activity is expanding at its quickest rate for six months in August, according to the 'flash' PMI data released today. There were good gains for the factory sector, and these were bolstered by modest gains in their services sector. Of not was a steeper rise in new orders. Cost pressures continued to ease from June's recent record, but remained sharp overall, leading to another near-record increase in selling prices. Businesses are finding they can pass on the extra costs. The 'flash' August PMI's for India show rising activity, especially in their services sector. In the US, the August 'flash' PMI survey from S&P Global shows factory activity easing and now at a five month low. But the services sector is rising with a marginally stronger expansion. Input cost pressures have remained elevated but mainly due to rising fuel prices. Diesel is up +8.4% from a month ago, petrol up +2.2%. Consumer price inflation is biting harder now in the US. Trump announced he will temporarily ease beef tariffs to help lower prices. Local beef producers weren't impressed, warning the move would hurt efforts to rebuild herds. And industry observers say the move will have little effect on the high prices. For someone who claims to love free-market capitalism, he acts in a very interventionist, the-government-knows-best manner. Canada posted a good retail increase for the year to June, up +5.2% although this was a slowing from May. But their July result looks like it will fade somewhat. The weekend USMCA trade deal failure won't help of course. The EU consumer sentiment survey retailed its July improvement in August. It is still deeply negative, but less so that at any time since February. And the ECB updated its inflation expectations survey for July and that shows a minor decrease to 2.9% over the next twelve months, from 3.0% in June. Eurozone business activity continues to rise in August amid stronger manufacturing growth, with their factory PMI now at a 51 month high. According to the S&P Global 'flash' PMIs for August, growth in the Australian private sector is softer this month as the cost environment becomes more challenging in both the factory and services sectors. But both are still expanding. They are still getting rising new orders (in both sectors), but cost pressures have picked up in August. However the ability to pass those extra costs on retreated to its weakest of 2026. And in freight news, El Niño is having an impact on Panama Canal traffic volumes. The authority which runs it says it is reducing traffic levels to 32 ships per day from 36 currently, due to the low water levels. That is an -11% reduction. The UST 10yr yield is now just on 4.74%, unchanged from Saturday, up +5 bps for the week.  The price of gold is up, now at US$4607/oz, down -US$14 from Saturday at this time, up +US$230 or +5.5% for the week. Silver has dipped -50 USc to just over US$69/oz. Oil prices are unchanged from Saturday at just over US$87/bbl in the US, while the international Brent price is still just under US$94.50/bbl and up +US$1. From a week ago these prices are +7% higher from then.  The Kiwi dollar is little-changed from Saturday at just over 59.8 USc, up +90 bps for the week. Against the Aussie we are still at 83.4 AUc. Against the euro we are holding at 51.2 euro cents. That all means our TWI-5 starts today at just over 63.2, down marginally from Saturday on a yen shift, but up +80 bps from this time last week. The bitcoin price starts today at US$77,147 and down a minor -0.3% from Saturday, but up a whopping +23% jump from last week at this time. Volatility over the past 24 hours has also been modest at just on +/-1.2%. 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

Khutbah Jum'at  - Ust. Syariful Mahya Lubis, Lc. MA. hafizhahullahu.Judul : Jujurlah kepada Allah.Sumber: Youtube.Podcast Khutbah Jum'at.

Khutbah Jum'at - Ust. Mubarak Bamualim, Lc., MHI. hafizhahullahu.Judul : Satu Do'a untuk Kebaikan Dunia dan Akhirat.Sumber : YouTube.

Derek Halpenny, Head of Research Global Markets EMEA & International Securities sits down with Shan Husain in FI FX Sales to discuss the fallout for the US dollar following the US Treasury announcement of increase UST bond buybacks on Wednesday. The dollar drop over the four weeks covering Japan/US FX intervention is the largest since the period following the Liberation Day announcements last year. Washington policy has again undermined confidence and depressing bond yields brings USD downside risks. However, it might not be one-way traffic given the US-iran risk persists and higher energy prices could discourage foreign currency buying.

APAC stocks were mixed as the region attempted to shrug off the broadly negative handover from Wall Street; European equity futures indicate an uneventful open.In FX, DXY marginally softened, and USD/JPY was choppy overnight following the mostly in-line Japanese inflation data for July.10yr UST futures lingered around the prior day's trough, Bund futures mildly retreated, and 10yr JGB futures tracked previous declines in global peers.Crude futures were contained overnight amid a lack of major fresh developments; spot gold resumed its recent choppy performance above the USD 4,500/oz level.Looking ahead, highlights include Global S&P Flash PMIs (Aug), UK Retail Sales (Jul), PSNB (Jul), EU Negotiated Wage Growth (Q2), Canadian Retail Sales (Jun), EU Consumer Confidence Flash (Aug), BoC SLOS (Q2). Credit rating updates from Fitch on Poland, Moody's on the Netherlands and Sweden.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump announced sweeping economic measures against Iran and threatened consequences for countries or entities supporting Tehran.US President Trump said Iran negotiations may be at some point, while he reiterated Iran cannot have a nuclear weapon and said oil prices will be a lot lower when this is over.10yr UST futures marginally extended on the prior day's gains after long-end yields fell in response to the US Treasury announcement yesterday.FOMC Minutes from the July meeting stated that most participants assessed that higher rates would likely be necessary if inflation did not fall; little reaction seen on the release.APAC stocks were predominantly higher following a similar positive lead from Wall Street; European equity futures indicate a subdued cash market open.Looking ahead, highlights include German PPI (Jul), Canadian PPI (Jul), US Initial Jobless Claims (Aug 15), New Zealand Trade Data (Jul), Riksbank Policy Announcement (Aug). Comments from Riksbank's Thedeen. Supply from France, Earnings from Walmart & Alibaba.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

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 we may be seeing the end of markets regarding US Treasuries as safe-haven assets – although to be fair it isn't clear what would replace it. Long-maturity US Treasury yields rose today to reverse the drop we noted yesterday. The yield on the US 10-year bond rose back towards the earlier 20-month high this week before the Bessent action, and the yield on the 30-year bond rose back too. A couple of points are worth making first before we review today's data updates. The first is that it has been the role of the Fed to do QE activity. Maybe Warsh isn't keen now because he is committed to shrinking the Fed's balance sheet. It grew because the Fed wanted to push down rates, and that came with the consequence of massive bond buying. In fact, they moved the needle with "whatever it takes" to the tune of US$3.5 tln in the GFC and the subsequent stabilisation. And then another US$4.5 tln for the pandemic response that started in 2020. They have only paid down US$2.5 tln since. Warsh wants to get that significatly lower. Now Bessent wants to do his own QE, in his case to avoid the political consequence his boss will face - at least push it off "till later'. But his announcement talks of a 'doubling', and that is only an extra of +$2 bln. The Fed was effective with trillions. But Bessent wants to do the same thing with billions. Wall Street hedge funds will be looking for a Bessent put, and unless he delivers his objective the hole thing might collapse rather quickly. Bessent should know - he was a billionaire hedge fund manager on Wall Street who made his fortune gaming the system. The Bessent initiative hardly lasted one day. And this comes as the US Treasury's latest daily cash and debt balances statement shows public debt now exceeds US$40 tln (Table IIIC). Why is this important for us? Well, the world's economy is still being driven by US middle-class consumer demand, the only economic engine large enough to shift the global needle. And we rely on a healthy upbeat global economy. China says it is making an attempt to duplicate this internal consumer demand, but by all accounts it is not succeeding, in part because Chinese consumers are still very risk averse and prioritising savings over consumption, and more so recently. Meanwhile, initial jobless claims in the US fell to 172,000 last week, a slightly larger dip than seasonal factors would have indicated. There are now 1.8 mln people on these benefits, also marginally lower than the week before. The August Philly Fed factory survey came in much stronger than expected, building on an outsized July expansion. This is all about current activity. Oddly, new order levels fell. But price pressures did moderate this month. The Conference Board said its Leading Index for the US ticked up in July, marking the fourth increase over the past six months. Most components were positive in July except consumer expectations, which continued to be a notable drag. In Canada, their July producer prices index rose from the prior month to be -12.4% higher than year ago levels. Their raw materials index is up more than +18% on the same basis. Across the Pacific, Japan said its exports swelled +23% in July from a year ago and to an all-time record high, boosted by AI-related semiconductors and data center equipment. Meanwhile, imports were up almost +28%, boosted by fuel imports which were up more than +53% in value. and total imports also hit a new record high. The net was a small trade deficit on merchandise. China held its key lending rates at ultra low levels in the regular monthly update. But these very low rates aren't exactly generating a boom, more just holding things together. The People's Bank of China kept its key lending rates at these record lows for a 15th straight month. And that is what analysts were expecting. And remember Evergrande? Well yesterday a Chinese court sentenced its founder and boss to life imprisonment for "massive fraud". Orders for Taiwanese exports soared +62% in July from a year ago to a new record high of US$98 bln. That follows an outstanding +59% jump in June. Booming global demand for AI-related and technology products continued to fuel overseas sales. This is on top of a July 2025 increase of +21% which at the time seemed like an outstanding achievement. Malaysian exportsjumped an outstanding +38% in July from a year ago to a record high. This was led my electronic exports to the US. Meanwhile, their imports rose +36%, with the fastest rises from India, South Korea, and then China. In Europe, German producer prices rose in July too, only at a +3.0% year-on-year rate but that was their fastest since April 2023. Australian inflation expectations rose by 0.2 percentage points in August to 4.9%. This follows a three-month period of moderating inflation expectations. Wage expectations also rose in August, after remaining static for a prolonged period. Staying in Australia, full-time jobs rose +16,300 in July but part-time jobs fell -32,200 in the month for a new decrease in employment levels. So instead of the expected +15,000 rise in jobs, they had a -15,800 net fall. While this may seem like a big movement, in fact the June positive result was quite elevated so a leveling out is probably to be expected. Global container freight rates were up +4% last week from the prior week to be double what they were a year ago. Outbound rates from China to the US drove the increase with those up +9% for the week, up +180% from a year ago. Meanwhile bulk cargo rates fell -7.5% this past week to be +40% higher than year-ago levels. The UST 10yr yield is now just on 4.70%, up +5 bps from this time yesterday. The 30 year yield is at 5.24% and up +4 bps.  The price of gold is up sharply, now at US$4520/oz, up +US$17 from yesterday at this time. Silver has risen another +US$2 to just over US$68. Oil prices are up US$1 from yesterday at just over US$86.50/bbl in the US, while the international Brent price is now just over US$93.50/bbl and up +US$2.  The Kiwi dollar is up +10 bps from yesterday at just over 59.4 USc. Against the Aussie we have risen +30 bps to 83.6 AUc. Against the euro we are up +10 bps at 50.9 euro cents. That all means our TWI-5 starts today at just over 62.9, up +10 bps from this time yesterday. The bitcoin price starts today at US$72,813 and up another large +6.8% from yesterday. Volatility over the past 24 hours has also been high at just on +/-3.5%. 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 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 the Trump Administration has been unnerved by the rising yield investors are demanding for their long-dated bonds. Thy have now moved to "provide liquidity support" for the UST 30 year bond, effectively spending deficit dollars to bid the yield down and the price up on secondary markets. They didn't like the free-market signals, so they are using resources to twist them. Bond professionals are sceptical today's move is anything but a short-term salve because they are still raising huge new funds to support their deficit spending, more than US$½ tln in just the past 60 days. It is a move that has seen the USD fall, gold rise, and pushed up the price of commodities including crude oil. Bitcoin sparked back into life with a sharpish rise too. Elsewhere today, the minutes of the July Fed meeting were released today, the one where there were three dissenters all who wanted to raise rates to counter inflation threats. And it also revealed many non-voting members supported hiking rates too. But to be fair subsequent data has shown that their labour market is cooling rather faster than they anticipated, and that inflation has dipped slightly. It is still well above their policy target however. Today's Treasury interventions and the related inflation-inducing market reactions will be being watched by the twelve voting members closely. Meanwhile, US mortgage applications fell slightly last week, staying weak, and back to levels they were at in the first half of 2025. And US commercial crude oil stocks rose sharply last week taking the rising run to three straight weeks. However, their strategic reserves fell again and is now a levels so low that there are concerns about the physical infrastructure. The USMCA renegotiation deadline with Canada has been pushed back a few days. The Americans say it is because a deal is close. The Canadians say there is still details to be agreed although a deal is close and one far different to the "50%" threat. It will be interesting to see how the Canadian dairy sector fares in all this. The exchange rate market reaction to the US Treasury move has taken the pressure right off the Japanese yen. Japanese machinery orders continued their yo-yo pattern in June, now up +16.9% from a year ago (excluding volatile items). Export orders were particularly strong. In Australia, Big Tech is raising bond financing to support their global AI rollout ambitions. Google raised more than AU$5 bln yesterday after being flooded with more than AU$18 bln in market offers. This is a honeypot sure to attract more Big Tech borrowers. The UST 10yr yield is now just on 4.65%, down -6 bps from this time yesterday. The 30 year yield is at 5.20% and down -8 bps.  The price of gold is up sharply, now at US$4503/oz, up +US$150 from yesterday at this time. Silver has risen +US$2 to just over US$66. Oil prices are up another +50 USc from yesterday at just over US$85.50/bbl in the US, while the international Brent price is now just over US$91.50/bbl.  The Kiwi dollar is up +50 bps from yesterday at just under 59.3 USc. Against the Aussie we have risen +40 bps to 83.3 AUc. Against the euro we are little-changed at 50.8 euro cents. That all means our TWI-5 starts today at just under 62.8, up +50 bps from this time yesterday. The bitcoin price starts today at US$68,163 and up a sharp +5.4% from yesterday. Volatility over the past 24 hours has also been high at just on +/-3.7%. 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 global oil prices have risen again with no end to Trump's Hormuz adventure. In something of a gigantic own-goal, the US economy is losing momentum rather quickly now. But first, the overnight full dairy auction came in better than the futures market had signaled, up +2.3% from the prior full event. This was largely driven by the milk powder gains with WMP up +3.0% and SMP up +7.6%. However, most of the milk fats fell. The overall gains in NZD were slightly better, up +2.6%. But despite this recent turn higher, prices are still almost -9% lower than year-ago levels, even if they are up almost +10% from the start of 2026. In the US, the latest weekly jobs update from ADP has stayed low with less than a +10,000 gain over the past four week. In contrast to the positive July factory report in the New York state region we noted yesterday, their services survey in the same region wasn't very good. The business climate index remained deeply negative, with almost half of respondents reporting unfavourable business conditions. US industrial production data for July was modestly positive from June and that has resulted in a +1.1% gain from a year ago, although lower than the June +1.3% expansion. US pending home sales were lower in July, both from June, and from a year ago. There is no spark in evidence in this sector, and perhaps not surprisingly when home loan interest rates are high at 6.8% and likely to rise from here. Every region is posting both month-on-month and year-on-year declines now. US housing starts fell back sharply in July, down -13.5% from year-ago levels. In fact, the last time they had a July this low was in 2019. And in Canada, they also reported a sharp drop in new housing starts in July, their lowest for that month also since 2019. But July housing market sales actually rose and delivered the highest levels they have had in 2026 (even if this isn't a particularly high bar). Meanwhile, negotiations between Canada and the US over Trumps 50% tariff threat seem to be going nowhere, and they are due to come into effect tomorrow. Interestingly, included in the stoush is Canada's aluminium exports and if they are tariffed, the hurt to US businesses will be significant. In China, they have a slowing momentum too. Households are clearly worried because they hare paying down debt faster and prioritising cash reserves in the face of a glum outlook. In Australia, their consumer sentiment has improved from low levels but it is still net-negative and still below last year's level at this time. The improvement was driven by mortgages holders who were relieved that the RBA didn't increase rates at its last decision. The survey also shows house price expectations declined as the housing market weakened. But renters are less likely to expect price falls and are more downbeat about home purchases. The UST 10yr yield is now just on 4.71%, down -2 bps from this time yesterday.  The price of gold is falling back, now at US$4353/oz, down -US$30 from yesterday at this time. Silver has fallen -US$ to just under US$64. Oil prices are up another +US$1 from yesterday at just over US$85/bbl in the US, while the international Brent price is now just on US$91/bbl and up +50 USc. Hormuz transits have stayed very low. There has been only one crude tanker and 4 cargo ship exiting over the past 24 hours (2 dark with transponders off) and eight entering for new loads (3 dark), again all Iran-linked. There have been deadly attacks on a few of these ships crossing. The Red Sea activity is still only about 20 exits at the Yemen chokepoint, little-change. The Kiwi dollar is down -25 bps from yesterday at just under 58.8 USc. Against the Aussie we have dropped -20 bps to 82.9 AUc. Against the euro we are down -25 bps at 50.8 euro cents. That all means our TWI-5 starts today at just on 62.3, down -30 bps from this time yesterday. The bitcoin price starts today at US$64,667 and up +0.7% from yesterday. Volatility over the past 24 hours has also been low at just on +/-0.7%. 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 Iran has decided to shift its policy from defensive to "fully offensive" due to the deadlock in efforts to agree a permanent end to its war ​with the United States, a senior Iranian official told Reuters overnight. Meanwhile, Trump has threatened to bomb Oman, a Gulf emirate and until recently an ally. All this is unnerving bond markets with the yield on the US Treasury 30 year bond now at a 22 year high. And they aren't the only long bond yields to rise. Its a trend of higher money costs that is probably only getting started. However domestically in the US, there have been two third-tier data items out today, and both somewhat positive. The NAHB home builder sentiment survey increased very slightly in August from its unusual July low. But it still remains lower than foir most of 2026 as the core affordability pressures haven't really gone away. Meanwhile, the NY Fed's regional Empire factory survey was more positive in its August report with reporting strong current activity and new order flows stayed positive. Employment hardly changed however, and input cost increases rose fast again even if prices received eased. Meanwhile, Canadian inflation was reported back at 3.0% for July, a bit higher than the 2.9% expected and possibly bringing a rate hike there back into play. Rising fuel prices are a key driver here. Across the Pacific in Singapore, they reported very strong July export growth, up +24% from a year ago to a new all-time monthly July record of S$76 bln but not quite eclipsing their June levels. This is all based on the export of electronic equipment. Their big export destinations are the US, South Korea, Thailand, Taiwan and India. This exporting strength enabled them to post a very large trade surplus in July. (Imports from China were up, but nowhere near enough to account for the export gains overall. So this isn't a re-export story of the paranoid type.) Japan reported a softer economic activity expansion in Q2-2026 than expected. Analysts had expected their GDP to grow by +2% and up from +1.9% in Q1. But the data released today only shows a +1.1% expansion. But today's data is preliminary and may well be revised higher. Japanese industrial production rose +1.9% in June from May and exceeding the earlier flash indication (which was very good on its own), and far exceeding the May +0.1% rise. This was the third consecutive monthly expansion and the strongest growth since January. And it took the year on year expansion up by an impressive +4.9%. China's industrial production was claimed to be up +4.5% in July from a year ago and basically meeting targets. Within that, they claim hi-tech +16.9% on the same basis. But just like most month before they claim they are doing this with electricity production up only +1.9% in July from the same month in 2025. It seems very implausible, the only country with fast growing industrial output with essentially no growth in electricity used - and over the very long haul. More realistically, China said its retail sales were up only +0.6% in July from a year ago. According to these official sources. China house prices are falling less now. New housing was down -3.2% from a year ago, essentially unchanged from June. In fact many more cities had no change or a small increase especially top-tier cities. Second tier cities aren't getting the same boost however. Existing home sales prices are easing less too. The UST 10yr yield is now just on 4.73%, up +3 bps from this time yesterday. The 30 year yield is at 5.31% and up +4 bps, and that is its highest in more than 20 years.  The price of gold is rising, now at US$4413/oz, up +US$37 from yesterday at this time. Silver has risen +US$1.50 to just over US$66. Oil prices are up +US$1.50 from yesterday at just over US$84/bbl in the US, while the international Brent price is now just on US$90.50/bbl and up +US$2.  The Kiwi dollar is up +10 bps from yesterday at just on 59 USc. Against the Aussie we have dopped -10 bps to 83.1 AUc. Against the euro we are up +10 bps at 51 euro cents. That all means our TWI-5 starts today at just on 62.6, up +10 bps from this time yesterday. The bitcoin price starts today at US$64,245 and up +1.8% from yesterday. Volatility over the past 24 hours has also been modest at just on +/-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. 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 US economy is starting to show signs of exhaustion - just as the Chinese economy looks like it can't actually transition to one where internal demand replaces their industrial exports engine, as they were planning. But locally this week it will be all about how July retail sales turned out, and an update on our June population. And there will be a rush of earnings reports out this week from listed companies. In Australia we will get their July labour market update, and both the August Westpac consumer confidence survey results, along with an update of inflation expectations. Globally. te ongoing standstill between Iran and the US should continue to dictate energy prices and influence global interest rates. Rates will also take the spotlight with minutes from the last divisive meeting of the Federal Reserve, which included three dissents. More US data is expected to confirm their slowing economy. In Japan there will be a raft of data updates for the world's fourth largest economy, including for GDP, exports, inflation, machinery orders and flash PMI data. Indonesia and Sweden will review policy rates and settings this week. In China, July data released this week will include industrial production, retail sales, house prices, fixed asset investment and their unemployment rate. The People's Bank of China is also widely expected to leave its one- and five-year loan prime rates unchanged at 3% and 3.5%, respectively This will come even though they have surprised with their bank lending actually contracting in July, only the third time ever this has happened and by far the largest retreat. Net new yuan loans fell by -¥340 bln in July when a weak no-change was expected (actually a minor +¥45 bln). July is often a lowish month for new bank lending but this latest data represents some real weaknesses. A slowing economy and poor consumer sentiment, particularly for housing, limited the demand for loans. About -¥460 bln of this fall was for consumer debt. But the swing also reflects the downturn for the traditional business sectors of the economy. Their tech sector commonly raises cash in the bond market instead of bank loans. So within this result there may be evidence of a structural shift. Taiwan said its economic activity came in +12.9% higher in Q2-2026 from a year ago, lower than the +15.4% rise in Q1-2026.GDP. It was still the second-best growth pace they have recorded in almost 50 years. Malaysia said its economic activity expanded +6.0% in Q2-2026, a rise from the +5.4% in Q1-2026 and better than the expected +5.7%. In India, the bank lending impulse has the taps open fully, with lending up more than +19% at the end of July from the same point a year ago. This is a new modern record rise rate, and to record levels. Across the Pacific, US retail sales took an unexpected dip in July from June. They fell -0.6% on that basis when a +0.1% rise to compliment June's rise was expected. This is a big miss and was the first decline since October 2025 and the largest in over a year. Weaker sales at online retailers, car dealers, petrol stations and electronics stores shifted the needle, so it was a broad based dip. From a year ago, these July sales were still up +5.2% from earlier gains. Also dipping was US consumer sentiment, but this is for August, so the dour mood is extending. The widely-watched University of Michigan survey came in back at levels that followed the US attacks on Iran, so the July rise was an anomaly. A small easing was expected, but not one this big. Year-ahead inflation expectations ticked up from 4.2% in July to 4.3% this month. Inflation and inflation expectations are key for the Fed. The new boss Kevin Warsh may not want to talk about the elevated threats, but other regional governors are, some who vote. The Atlanta Fed's boss isn't one of those but she says inflation is too high and risks staying like that and embedding unless the Middle East situation resolves quickly. The Chicago Fed's boss is worried too. Current CPI is 3.4% officially, but the Cleveland Fed nowcasts the PCE measure of inflation and their latest update has it at over 3.7%. These levels are a long way from the mandated 2% policy rate and Warsh is likely to get out-voted when they next meet in Mid-September. Financial markets currently price in one chance in three of a +25 bps rise then. And for the record, current US petrol prices are now +5.7% higher than month-ago levels. Diesel is +11% higher on that same basis. Their inflation threat is not receding. Meanwhile the EU reported that Q2-2026, economic activity rose +0.4% in the euro area and by +0.5% in the overall EU compared with the previous quarter, up +1.0% and +1.2% respectively from a year ago. So recent activity is picking up, although in a way that was broadly anticipated. The UST 10yr yield is now just on 4.70%, up +1 bp from this time Saturday, up +5 bps for the week.  The price of gold is stable, now at US$4376/oz, up just +US$2 from Saturday, up +US$39 from this time last week. Silver has held at just over US$64.50/oz, up a net +US$1 for the week. Oil prices are unchanged from Saturday at just under US$82.50/bbl in the US, while the international Brent price is now just on US$88.50/bbl. A week ago these prices were US$78 and US$83.50/bbl respectively, so a +6% weekly rise.  The Kiwi dollar is little-changed from Saturday at just under 58.9 USc and unchanged for the week. Against the Aussie we are holding at 83.2 AUc. Against the euro we are still at 50.9 euro cents. That all means our TWI-5 starts today at just over 62.5, unchanged from this time Saturday and very similar to a week ago. The bitcoin price starts today at US$63,102and up +0.4% from this time Saturday, down -2.6% for the week. Volatility over the past 24 hours has also been very low at just on +/-0.3%. 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. 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 ship traffic in the Hormuz Strait is now at a complete standstill. But oil prices have eased slightly all the same. So, Wall Street rose and to new record highs. In the US, there were +187,000 initial jobless claims last week, a slightly larger increase than seasonal factors can account for. There are now just over 1.8 mln on these benefits, a fall from last week as the very much tighter qualification requirements keep people off these unemployment programs. US producer prices came in slightly lower than expected for July, up +4.7% from a year ago, down from +5.5% in June and lower than the +4.9% expected. A notable fall in July fuel costs offset all other rises in the month. There was a well supported US Treasury 30 year bond auction earlier today, but investors wanted and got higher yields. They came in at a median 5.16% (high 5.22%) which is a 25 year high and something of a warning to the US Administration. This was up from the prior equivalent event median of 5.01% a month ago. Meanwhile, Cleveland Fed President Hammack restated her view that the ‌US central bank should raise rates immediately to bring down too-high inflation and restrain business growth and investment. She is a current FOMC voting member. She said she "lacks confidence" the current do-nothing policy will get inflation back to its target. Meanwhile the Richmond Fed boss Barkin says he is happy to wait. Barkin is not a current FOMC voting member. In Japan, their central bank wants to raise its 1% policy rate from here, and reports indicate that it has government backing for the move now. It could come at the next review in mid-September. Markets have priced in a 75% chance. Japanese producer prices have been rising fast recently and were up 7.2% in July from a year ago. But there was essentially no rise in July from June, so they are starting to see some heat dissipate. India reported strong exports, its third highest monthly total ever, in July, and up +19% from the same month in 2026. But they also reported record high imports, driven by fuel imports. In the EU. euro area industrial production rose in June, very slightly (+0.1%), when a fall (-0.8%) was expected. In the wider EU region, the gain was even better. Production of consumer goods led the way with a strong June result. Gains in Denmark, Poland and Finland were notable. Germany and France dipped. In Australia, regulators there are warning that online brokers are targeting retail investors with complex or high-risk products without clearly disclosing their risks or conducting proper onboarding, leaving those who respond exposed to risky products that could see them lose their investments within hours.  New semi-annual pay data out yesterday in Australia revealed a softening trend in the private sector. Overall average weekly ordinary time earnings for full-time adults were AU$2,084 in May, up just +1.6% overall in the period, up +3.7% for the year. These are the slowest increase rates since 2022. Rises in public sector pay are running at nearly twice the pace of the private sector. Recall, CPI inflation there was at 3.8% in the year to June - so no real gains. Global container freight rates were up a mere +1% last week from the prior week but are +85% higher than year-ago levels. That weekly data masks sharply higher rates to the US from China, offset by lower rates from China to the EU. Bulk cargo rates fell -4.2% in the past week from a cycle high and are now +45% higher than year-ago levels. The UST 10yr yield is now just on 4.63%, down -5 bps from this time yesterday. The price of gold is falling, now at US$4357/oz, down -US$60 from yesterday. Silver has fallen almost -US$1 to just over US$64.50/oz. Oil prices are down -US$1 from yesterday at just under US$82/bbl in the US, while the international Brent price is now just under US$88/bbl. Hormuz transits have virtually vanished. There has been no crude tankers and only 1 cargo ship exiting over the past 24 hours (0 dark with transponders off) and just two entering for new loads (0 dark), again all Iran-linked. The Red Sea activity is now less than 10 exits at the Yemen chokepoint. The Kiwi dollar is down another -10 bps from yesterday at just under 58.5 USc. Against the Aussie we are holding soft at 82.9 AUc. Against the euro we have dipped -10 bps to 50.7 euro cents. That all means our TWI-5 starts today at just under 62.1 which is also down -10 bps from this time yesterday. The bitcoin price starts today at US$63,141 and down -0.4% from this time yesterday. Volatility over the past 24 hours has also been low at just on +/-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 on Monday. Track 1219389 Monetization ID TFGEPGEI0LHEIJAI Audio soundtrack opening is licensed from Shutterstock, Track 1219389 Monetization ID TFGEPGEI0LHEIJAI

Iran's Secretary of the Supreme National Security Council said the Strait of Hormuz would not open until the US accepts Iran's conditions.Crude futures edged higher amid the ongoing geopolitical uncertainty; spot gold reclaimed USD 4,400/oz to the upside.APAC stocks traded mixed amid geopolitical uncertainty, earnings releases and as participants await US CPI data; Europe is set for a flat open.DXY traded little changed as markets await US inflation data over the next couple of days and in the absence of any major fresh catalysts.10yr UST futures traded little changed following the prior day's rebound despite continued upside in oil.Looking ahead, highlights include German/Italian CPI Final (Jul), US CPI (Jul), IEA OMR, OPEC MOMR, Supply from UK, Germany & US.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said, regarding potential escalation with Iran, that it is certainly possible and still has the ability to escalate.US President Trump, responding to Iran's requests for compensation during the conflict, said he was demanding compensation from Iran.RBA maintained rates as expected and kept a hawkish tone, but trimmed its CPI forecasts; AUD saw mild pressure. APAC stocks traded mixed following a lacklustre lead from Wall Street; European equity futures indicate a flat cash market open.DXY traded little changed, 10yr UST futures remained subdued, Crude futures held on to the prior day's spoils after rallying by more than 5%.Looking ahead, highlights include US ADP Employment Change Weekly, Existing Home Sales (Jul), Comments from RBA's Governor Bullock, Supply from Germany & US, Earnings from Supermicro & CoreWeave.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump told Axios that they are only semi-negotiating with Iran but said it will work out and that it always works out.Iran's Supreme National Security Council issued six demands to the US, including total force withdrawal, end to proxy warfare.Saudi Arabia put out a fire at its Jazan plant early on Sunday, while Yemen's Houthis claimed responsibility for the attack on the refinery.APAC stocks were somewhat mixed, but with most major indices in the green, US equity futures were range-bound; European equity futures indicate a flat market open.DXY eked mild gains, 10yr UST futures lacked direction, crude futures gapped higher at the open as an Iran-Oman deal on the Strait of Hormuz remained elusive.Looking ahead, highlights include Norwegian Inflation (Jul). Earnings from Berkshire Hathaway.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump thinks the war with Iran will end pretty soon and said the Strait of Hormuz is sort of open right now; Trump conducted a phone call with the Saudi Crown Prince.Oman and Iran reached an agreement over the Strait of Hormuz, according to MS Now citing two Middle East diplomats, although the diplomats declined to describe the details of the temporary agreement or what issues remain unresolved.A strategic plan for managing the Strait of Hormuz would reportedly prohibit the passage of vessels belonging to the US, Israel and other hostile countries through the Strait of Hormuz.APAC stocks ultimately traded mixed following the weak lead from Wall Street; European equity futures indicate a mildly lower cash market open.DXY took a breather, 10yr UST futures remained lacklustre, and Crude futures extended on the prior day's rally.Looking ahead, highlights include German Industrial Production (Jun), Trade Balance (Jun), French Trade Balance (Jun), US Jobs Report (Jul), Canadian Jobs Report (Jul), Ivey PMI (Jul), NY Fed SCE (Jul), Fed's Barkin. Credit Ratings include S&P on Switzerland.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

Please join Sphia Salim for a discussion with the global rates team on the implications of all the central bank decisions taken this week. We will review the exceptionally uncertain Fed meeting and debate the outlook for 2y & 10y UST yields. We will also discuss the takeaways from the guidance provided by the BoE and BoJ. The call took place on Friday, July 31st, 2026.   "Bank of America" and “BofA Securities” are the marketing names for the global banking businesses and global markets businesses (which includes BofA Global Research) of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Securities, trading, research, strategic advisory, and other investment banking and markets activities are performed globally by affiliates of Bank of America Corporation, including, in the United States, BofA Securities, Inc. a registered broker-dealer and Member of FINRA and SIPC, and, in other jurisdictions, by locally registered entities. ©2026 Bank of America Corporation. All rights reserved.

Fed maintained rates, though with 3 dissenters who favoured a 25bps hike. Chair Warsh said that if inflation remains elevated, rates could be part of fixing that.DXY came under pressure as the Fed failed to match hawkish expectations, though Warsh's press conference triggered pronounced UST curve steepening.US CENTCOM announced its forces successfully completed a heavy wave of strikes against Iran; Jordan intercepted five missiles launched by Iran.US after-market earnings saw results from ARM Holdings (-5.7%), Microsoft (+8.9%), Meta Platforms (-7.5%) and QUALCOMM (-4.7%).APAC stocks were mostly lower; European equity futures indicate a flat cash market open. Looking ahead, highlights include French GDP Prelim (Q2), Spanish GDP Flash (Q2), Inflation Prelim (Jul), German GDP Flash (Q2), State/Nationwide Inflation Flash (Jul), Italian GDP (Q2), EU GDP Flash (Q2), Consumer Confidence Final (Jul), US GDP Advance (Q2), PCE (Jun), Initial Jobless Claims (Jul/25), Personal Spending (Jun), Chicago Fed Labor Market Indicators (Jul), BoE Policy Announcement & MPR (Jul). Speakers include BoE Governor Bailey, Earnings from Bristol Myers Squibb, Mastercard, Apple, Amazon, Adidas, BMW, Leonardo, Renault, Sanofi, Schneider Electric, SocGen, BAE Systems, British American Tobacco, Shell & Rolls-Royce.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US President Trump said Iran is talking to the US about making a deal right now and very friendly talks are ongoing, while he added they will end Iran's nuclear threat very quickly and that Iran is behaving again.US President Trump said Iran wanted to meet and that "we're meeting," while he added there is a chance a deal could be reached.APAC stocks were mostly negative amid a tech bloodbath and competition concerns following reports yesterday that China had started mass production of domestically developed DUV lithography equipment.DXY traded little changed, 10yr UST futures traded range-bound, and Crude futures remained subdued overnight.European equity futures indicate a flat cash market open, with Euro Stoxx 50 futures little changed after the cash market closed flat on Monday.Looking ahead, highlights include Spanish Retail Sales (Jun), US ADP Employment Change Weekly, Goods Trade Balance Advance (Jun), Retail Inventories Ex Autos Advance (Jun), Wholesale Inventories Advance (Jun), Consumer Confidence, Atlanta Fed GDP (Q2), Supply from UK, Italy, Netherlands & US, Earnings from PayPal, Boeing, UPS, Ford, EssilorLuxottica, Kering, Air Liquide, Eni, Barclays, GSK & Unilever.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

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

US and Iran continued to exchange strikes, with CENTCOM conducting a 13th night of attacks on Iranian military targets; US President Trump said Iran wants to reach an agreement but is not yet ready.Iran reportedly rejected a US ceasefire proposal presented by Iraq's PM, while Tehran also refused to amend a separate 10-day ceasefire plan linked to discussions over the Strait of Hormuz.The Trump administration imposed new tariffs of 10%-12.5% on imports from 60 countries over claims that they had failed to prevent forced labour.APAC stocks followed Wall Street lower, DXY mildly softened, 10yr UST futures remained near contract lows, and crude futures slightly pulled back after Brent rose above USD 100/bbl.European equity futures indicate a slightly positive cash market open, with Euro Stoxx 50 futures up 0.1%;Looking ahead, highlights include Global Flash PMIs (Jul), German GfK Consumer Confidence (Aug), UK Retail Sales (Jun), Canadian PPI (Jun), BoE DMP (Jul). Comments from ECB's Lane. Scope Ratings update on Norway.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US and Iran exchanged strikes for the 12th consecutive night; US President Trump said Iran is getting hit so hard and that they want to make a deal.Yemeni Houthis targeted two Saudi oil tankers in the Red Sea, while reports noted that at least 9 ships have stopped passing through Bab al-Mandeb, following the blockade on Saudi ports by Houthis.Alphabet (GOOGL) shares fell -3.3%, Tesla (TSLA) slipped over 4%, and IBM (IBM) was modestly softer post-earnings.APAC stocks were predominantly in the green, DXY mildly softened, 10yr UST futures lingered near the prior day's trough, and crude futures extended gains.European equity futures indicate a slightly lower cash market open, with Euro Stoxx 50 futures down 0.3%.Looking ahead, highlights include Canadian Retail Sales (May), US Initial Jobless Claims (Jul/18), Chicago Fed National Activity Index (Jun), EU Consumer Confidence Flash (Jul). Policy Announcements from the ECB, CBRT, and SARB. Comments from ECB President Lagarde. Supply from the UK & the US. Earnings from Intel, Blackstone, Lockheed Martin, RTX, TotalEnergies, Thales, SAP & Repsol.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

US CENTCOM said forces conducted the 11th consecutive night of strikes against Iran; US Secretary of State Rubio said the US is committed to diplomacy in the Middle East and Iran.Iran's top joint military command warned that all interests of the US and its allies in the region will be targeted if the US attacks Iran's nuclear sites.US is to impose new tariffs on dozens of countries as Trump's 10% global levy is set to expire, according to AFP citing USTR Greer.APAC stocks traded mostly in the green, DXY slightly pulled back, 10yr UST futures lingered near yesterday's lows, Crude futures mildly extended their gains.European equity futures indicate a slightly positive cash market open with Euro Stoxx 50 futures up 0.1%.Looking ahead, highlights include UK Inflation (Jun), Supply from Germany & the US, Earnings from Tesla, Alphabet, and IBM.Read the full report covering Equities, Forex, Fixed Income, Commodites and more on Newsquawk

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

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.

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.

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!