Australians urged to do a good deed – or mitzvah – as Anthony Albanese says day is ‘opportunity for us as a nation to wrap our arms around the Jewish community’ Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Fresh wreaths of flowers have been laid at Bondi beach, children have cooked meals for those in need and Anthony Albanese h...
Australians urged to do a good deed – or mitzvah – as Anthony Albanese says day is ‘opportunity for us as a nation to wrap our arms around the Jewish community’ Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Fresh wreaths of flowers have been laid at Bondi beach, children have cooked meals for those in need and Anthony Albanese has welcomed the opportunity to “wrap our arms around” the Jewish community as Australia holds a national day of mourning for the victims of last month’s terror attack. Under the banner of the New South Wales government’s One Mitzvah for Bondi initiative, all Australians were urged to do a good deed – or mitzvah – on Thursday to mark the day of mourning. Continue reading...
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here . The Reserve Bank of India will likely try to manage the pace of moves in the rupee rather than defend specific levels as the currency plumbs record lows, according to strategists. The rupee saw its worst day in two months on Wednesday as it slid to a record l...
Follow Bloomberg India on WhatsApp for exclusive content and analysis on what billionaires, businesses and markets are doing. Sign up here . The Reserve Bank of India will likely try to manage the pace of moves in the rupee rather than defend specific levels as the currency plumbs record lows, according to strategists. The rupee saw its worst day in two months on Wednesday as it slid to a record low of 91.7450 to the dollar. It rose 0.2% to 91.55 on Thursday. The currency was Asia’s worst performer last year and some strategists are calling for further weakness. Barclays Bank Plc forecasts it’ll be at 94 to a dollar by the end of the year, while UBS Group AG expects it to hit that level by March 2027. “The RBI is correct to moderate the pace of depreciation while keeping domestic liquidity considerations in mind,” said Gaura Sen Gupta , chief economist at IDFC First Bank Ltd. “They don’t seem to be defending a level.” The rupee has been buffeted by equity outflows, with a record $19 billion last year and a further $2.9 billion this month amid valuation concerns, steep US tariffs and delays in a trade deal. Bloomberg Index Services Ltd. this month deferred adding India to its global aggregate bond index, dashing hopes for fresh fixed-income inflows. Foreign direct investment has also slowed. Foreign outflows, importer dollar demand, lack of progress on a trade deal, and disappointment over the delay on the Bloomberg index have contributed to the rupee’s fall, according to Mitul Kotecha , head of FX and EM macro strategy for Asia at Barclays Bank. Bloomberg LP is the parent company of BISL, which administers indexes that compete with those from other providers. After the rupee broke key levels so quickly, slightly below 92 will be the next threshold to watch for, said Michael Wan , senior currency strategist at MUFG Bank Ltd. The RBI may just slow the pace of depreciation for now, he said. The RBI has spent $45 billion since October to defend the currency, according t...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Great news: The US isn’t going to take Greenland by military force , says Trump. Back in DC, it seems that Lisa Cook will keep her job as a Fed governor… While it looks like Kevin Warsh for the chairmanship, with Rick Rieder gaining fast . Somehow, US investment-grade credit is trading at record tight ...
To get John Authers’ newsletter delivered directly to your inbox, sign up here . Today’s Points: Great news: The US isn’t going to take Greenland by military force , says Trump. Back in DC, it seems that Lisa Cook will keep her job as a Fed governor… While it looks like Kevin Warsh for the chairmanship, with Rick Rieder gaining fast . Somehow, US investment-grade credit is trading at record tight spreads. AND: A song from the land of the ice and snow, from the midnight sun where the hot springs flow. Trump tamatigut qunutittarpoq (or TACO) Now we know how to translate “Trump always chickens out” into Greenlandic. It appears above (with thanks to Gemini). One more round of brinkmanship is concluded, as far as the market is concerned. This year’s meetings in Davos deserve a place in history, as US rhetorical antipathy to Europe and NATO reached a new volume, and many find the feeling mutual. We should assume as a base case that the North Atlantic alliance is a dead letter . But while that’s of profound importance to us all, it needn’t have an immediate impact on markets. That trend was already clear, and this was just another waymark in a process that will take years. More immediately, the tail risk of an insane US military invasion of Greenland receded sharply when President Donald Trump said that he didn’t want to use force, while he withdrew his backup threat of economic action, through tariffs, after an afternoon post on Truth Social that there was a “framework” for a Greenland deal: It’s ridiculous that anyone ever needed to worry about war between the US and Denmark, but it’s still good to remove that tail risk. Lifting the threat of tariffs is more important for the market, particularly as it was done so swiftly. The S&P 500 regained most of its losses from Tuesday on the news, while the 10-year yield fell: What can we infer about the deal? So far, there is a conspicuous lack of details. Trump’s “framework” — which he later called “a concept of a deal” on CNBC ...