1. US stocks jumped Tuesday as Wall Street shook off fears about rising rates and signs of slowing growth. After a string of sharp sell-offs in recent weeks, the US indices are on track for their worst month since the financial crisis.
2. The AUD is back! For now, anyway. The Aussie jumped against all of the major crosses on Tuesday, the exact opposite performance to a day earlier. After tumbling a session earlier on heightened risk aversion and renewed weakness in the Chinese yuan, the AUD/USD recovered most of those losses on Tuesday, boosted by hopes that a trade deal may be struck between the United States and China. It hit a high overnight of .7122 before ending the session at .7105.
4. Australian household wealth could fall by $800 billion — and nobody’s really sure how this will affect the economy, including policymakers at the Reserve Bank of Australia. David Scutt has more.
5. ICYMI: Chinese President Xi Jinping has ordered his country’s military to “concentrate preparations” for war in the South China Sea. During an inspection last week, Xi stressed the need build a force that can “fight and win wars” in the modern age. More here.
6. Australian petrol prices lift again as retail margins hit the highest level on record. The cost of unleaded petrol in Australia hit the highest level in over a decade last week, lifting to 160.5 cents per litre. The latest data comes as Prime Minister Scott Morrison says he’ll be watching petrol companies “very, very closely” and threatened new regulations would be on the way for retailers if they did not give customers a good deal.
7. Australia’s September quarter CPI report is about to be released. It’s arguably the most important data release on the Australian economic calendar, especially when it comes to the outlook for official interest rate settings. Get up to date with what markets are expecting with this 10-second guide.
8. Britain has released its final budget before the UK leaves the EU. In it Chancellor Philip Hammond marked the conclusion of the penny pinching that has defined the country’s fiscal policy in the decade since the financial crisis. Here’s everything that was announced, and how it will affect Britain’s households. As a bonus for Australians, it means those with epassports will now get through airport immigration in the UK much faster.
8. Elon Musk has bought $US10 million worth of Tesla stock just over a week after the company said he intended to buy $US20 million. The CEO now owns 19.8% of the company’s equity, making him the largest shareholder. Meanwhile, over at never-rival Faraday Future, money is running out and new workers have been asked to take leave, while everyone else takes less pay.
9. Model Bella Hadid has made roping in headlines about her public outfits into an art form, and this week’s puffer-on-denim-pyjamas effort was no exception. Until this pic stole the show:
The secret to staying trim? Having a fridge so perfect you don’t want to take anything out.
10. Notorious Boston mobster James “Whitey” Bulger, played in the biopic movie by Johnny Depp in one of his better most recent performances, has been killed in jail. Bulger, 89, was found dead in his new cell just hours after he had been transferred to a high-security facility. There are reports another organised crime figure was responsible for the murder. But don’t shed too many tears – Whitey Bulger killed at least 11 people and his gang of Irishmen terrorised Boston from the 1970s to the 1990s.
BONUS ITEM: The first attempted murder charge out of Antarctica is the best one. Meet Sergey Savitsky, who really, really hates spoilers.
Have a great day.
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