Money
Melbourne in lockdown limbo: state locked down with no end in sight
Sydney and Melbourne will both remain in lockdown this week amid a growing number of new Covid-19 infections
Victorian state premier Daniel Andrews has announced that Covid-19 lockdown will not end tomorrow night.
Twelve million Australians are now in Covid-19 lockdown, with hundreds of new cases. In New South Wales, authorities recorded 111 new cases in the previous 24 hours, up from 97 the day before. Around 80% of these infections are from three areas in Sydney.
The state government has banned more than 600,000 people from these hotspot areas from leaving their districts, even for work. Workers in the health or emergency sector are exempt, but need to be tested every three days. These restrictions will stay in place until at least the end of the month.
It follows the New South Wales Premier, Gladys Berejiklian saying it may take up to five more days before the impact of the state’s tougher restrictions become clear.
Premier extends Melbourne lockdown
Just last weekend, Melbourne recorded its 11th-straight day of zero new Covid-19 infections. Now, the city is days into a snap lockdown, which the government planned to end tomorrow.
State Premier Daniel Andrews says ending the lockdown would “not be the right thing to do”. There will be no further advice as to when the lockdown will end until tomorrow.
Australia’s vaccination roll-out
As many Australians go into lockdown, some good news is on the horizon. Amid the lockdowns, Australia’s lacklustre vaccination rollout program will get a much needed boost. One million new Pfizer Covid vaccination doses will arrive in Australia today.
The nation’s Covid-19 Taskforce Commander hopes to see an acceleration in vaccination rates. He says every Australian who wants a jab will have one by the end of the year.
Australia now has 13 per cent of the population fully vaccinated, with 10 million doses now administered. Australia has recorded 31,632 coronavirus cases and 913 deaths since the pandemic began.
Money
Alphabet launches $20B bond to fund AI expansion
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet’s $20B bond offering highlights investor confidence in AI growth, enabling funding without shareholder dilution.
Alphabet has launched a record $20 billion bond offering to finance its massive AI infrastructure build-out, signalling strong investor confidence in the company’s growth strategy. The oversubscribed sale shows that investors are betting on Alphabet’s AI potential and long-term returns.
By using debt instead of equity, Alphabet can raise funds without diluting shareholders. The money will support AI research, advanced computing, and other strategic projects, cementing the company’s leadership in the sector.
Brad Gastwirth from Circular Technologies explains how corporate debt is reshaping tech financing and how investors perceive AI-linked bonds. This record issuance could set a trend for other tech companies looking to fund innovation.
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Money
AI tax tool sparks market turmoil for financial firms
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Major financial firms’ stocks fell sharply after an AI tax tool launch, raising investor fears of disruption in advisory services.
Shares of major financial services firms tumbled after the launch of a new AI-powered tax planning tool. LPL Financial dropped nearly 11%, while Charles Schwab and Raymond James Financial fell more than 9%, signalling investor concern over AI disrupting traditional advisory services.
Morgan Stanley also saw a 4% decline as fears grow that AI could replace some of the most profitable offerings of established firms. Earlier this year, the introduction of other AI models already caused turbulence in software stocks, suggesting this could be a broader trend affecting multiple sectors.
The iShares U.S. Broker-Dealers and Securities ETF was down 4% on Tuesday, reflecting the market-wide uncertainty surrounding AI adoption in finance. Investors are closely watching whether AI will complement or cannibalise the industry’s core services.
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Money
RBA rate shock: ASX200, Gold and Crypto market
RBA’s interest rate shift impacts ASX200, AUD; gold/silver rebound analyzed amidst upcoming economic data and crypto market navigation.
RBA’s interest rate shift impacts ASX200, AUD; gold/silver rebound analyzed amidst upcoming economic data and crypto market navigation.
The RBA’s latest interest rate decision has sent ripples through the ASX200 and AUD, leaving investors weighing what comes next. We break down how these changes could affect global equities ahead of this week’s crucial non-farm payroll and consumer price index releases.
Zoran Kresovic from Blueberry Markets shares his analysis on the rebound in gold and silver after recent market turbulence, and what factors could drive further gains or sell-offs in the commodities market.
We also dive into the current state of cryptocurrencies, exploring how investors can navigate volatility and what to watch as economic data continues to shape market sentiment.
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#RBA #ASX200 #GoldMarket #SilverRebound #CryptoUpdate #InvestingTips #MarketVolatility #EconomicOutlook
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