International investors sell US assets after Moodys cut the US sovereign credit rating. The UK does a trade deal with the EU. The wealth effect from China’s property market slump is still on consumption. The RBA is expected to cut 25 bps today, but be cautious about more. And Thailand’s stronger-than-expected GDP flatters to deceive.

In our deep-dive interview, ANZ’s Group Chief Economist Richard Yetsenga takes stock of the latest tariff moves.

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