1. First, to markets, which moved a bit in the US after New York Federal Reserve president Bill Dudley said the US economic expansion still had a long way to go. Whooshka. The S&P500 and NASDAQ closed at new record highs, and stocks in the UK and Europe also gained. Even the US dollar caught a bid. The ASX today will be interesting, given Moody’s downgrade of the banks, including the big four. (More on that below.) We’ll also get the minutes from the RBA’s June meeting and house price data for Q1 2017.
2. Here it is:
That’s the list of Australian banks that Moody’s downgraded last night. Notable inclusions, of course, are the four major banks, whose ratings have been taken down a notch. Moody’s says that its preferred starting point for thinking about bank ratings is the overall economic backdrop, and it has downgraded Australia’s outlook down a notch too. Ominously, the ratings agency also took the time to warn: “The resilience of household balance sheets and, consequently, bank portfolios to a serious economic downturn has not been tested at these levels of private sector indebtedness.”
3. NASA has found up to 219 planets beyond our solar system, and about 10 may be Earth-sized and habitable. This is becoming a regular occurrence. But what’s different is that this new sample shows there could be billions of Earth-sized habitable planets, just in the Milky Way. And there’s about 100 billion galaxies. We are not alone.
4. We heard yesterday how a US Air Force jet shot down a Syrian Su-22. It was the US Air Force’s first air-to-air kill since 1999, and this is the plane that did it – the humble, but well-equipped F/A-18:
Russia responded by saying it will now treat US-led coalition planes west of the Euphrates as target practice. Back home in the US, the Missile Defence Agency has revised that old plan of using drones with lasers to shoot down missiles.
5. In London, police have identified the driver of a van that killed one person and injured 10 others as Darren Osborne. He was arrested on suspicion of the commission, preparation or instigation of terrorism including murder and attempted murder. He’s alive because the Imam of the mosque he attacked co-ordinated his protection after he was caught trying to escape. And images and video have emerged from inside Grenfell Tower, where as many as 137 people may have died in the horrific fire last week.
6. US President Donald Trump is having another big tech showdown at the White House right now. All the usual suspects from that December meeting are back, with one exception – Elon Musk, who got cranky about the withdrawal from the Paris climate accord. But he might be busy, because Los Angeles is taking his tunnel idea seriously. And again, Facebook CEO Mark Zuckerberg has other things to do.
7. What does your 10th birthday look like when your dad’s the best basketballer on the planet and it’s Fathers Day? This:
Stay for LeBron not missing a chance to dunk all over little kids.
8. A drone pilot has put the woo back in Woomera after he reported his toy was “forced down” when it was flying near the Prohibited Area. Jason Wright told The Advertiser that shortly after the grounding, a huge explosion and mushroom cloud could be seen in the distance.
9. Yahoo! is dead. Today, it began its new life as a “management investment company” trading under the name “Altaba” with the ticker AABA. Meanwhile, Morgan Stanley reckons Microsoft shares could jump 46% in the next year.
10. Oxford and Yale University researchers have tried to put a timeframe on when robots will take all our jobs, and came up with the year 2136. But the clock is ticking on all our tasks, such as creating a top 40 song, driving a truck and replacing a retail salesperson. Here’s the chart showing when you’ll be made redundant.
BONUS ITEM: The best surprise ending for any camera dropped out of a plane:
A camera falls from an airplane and ends at a trough for pigs. pic.twitter.com/sKuZkeFUR6
— Roberto A. González (@robertoglezcano) June 17, 2017
Have a great week.
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