Wednesday 30th July 2025

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Oil is the big mover overnight as President Trump confirms Russia has just 10 days to end the war before he imposes secondary tariffs. US equities have fallen. Meanwhile, it seems likely that China will have longer to reach an agreement. Meanwhile, US consumer confidence is rising, although, as NAB’s Sally Auld points out, the Conference Board report also highlighted growing concerns about the labour market. And the Treasury has said their Q3 borrowing requirement is an eye watering $1 trillion.

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