ASX tumbles; Trump promises $US5,000 to every American; NFL hits Melbourne

ASX tumbles; Trump promises $US5,000 to every American; NFL hits Melbourne

News in brief

The federal government has softened its gas reservation scheme, with LNG producers now required to reserve up to 20% of exports for Australia rather than a fixed 20%.

 

Stan Sport will keep the English Premier League until 2034, with Nine Entertainment signing a new six-year deal expected to cost $830 million.

 

Earlier we mentioned the NFL arriving at the MCG today, with the LA Rams taking on the San Francisco 49ers. NAB expects the sold-out game to help generate more than $300 million in spending across Melbourne.

 

Iran says it is prepared for a more intense war if the US continues attacking its territory and infrastructure, raising the risk of further disruption to global energy markets.

 

The US summer box office hit a record $US4.76 billion, finally beating the previous nominal record set in 2013, helped by blockbusters including Spider-Man: Brand New Day and The Odyssey.

Fear-o-meter

The World Gold Council's August ETF report explains why August was a bumper month for gold: 

 

Gold rose 13% to finish the month at US$4,563/oz – marking its third-highest monthly return in 25 years, just short of January’s 14% rise. The August rally was driven by strong ETF inflows, increased futures positioning and options activity.

 

Global gold-backed ETFs attracted US$18bn in August, the second-largest monthly inflow on record. North America recorded its third-largest monthly inflow on record (US$7.7bn), while Europe posted its strongest month ever (US$7.9bn), with the two regions together accounting for nearly 90% of global inflows. Asian funds added US$2bn, the strongest inflow since February. Australian flows reached US$190mn. Looking back over past reports, this is third highest monthly inflow for Australia in value terms (after Oct 2025 and Jan 2026).

 

Gold market activity also rebounded sharply, with average daily trading volumes rising 21% month-on-month across all major market segments.

Fear & Greed Q+A today

The collapse of Sydney property developer Bathla Group has put private credit - and its risks - firmly in the spotlight. But is the sector facing a crisis, or simply going through a normal investment cycle?

 

“I don't think it's a crisis at all. Normally in a crisis you would see a complete absence of liquidity. We're certainly not seeing an absence of liquidity yet. You would see carnage across the market. We're not seeing carnage across the market.

 

Property prices in Sydney are down 7% off their peak. 7% cannot be a crisis. According to most of the economists, the economy is still moving forward. It may be moving forward a lot more slowly than it was. Consumers are still spending. Lots of businesses are still running, the economy's still running, so this cannot be a crisis. It's got to be a cycle.”

Australian investors have been hit by a nasty combination of surging oil prices, rising bond yields and growing expectations of another interest rate hike.

 

The S&P/ASX 200 fell one per cent yesterday to 8819 points, leaving it more than 5% below last month’s peak. All 11 sectors finished lower as Brent crude pushed beyond $US100 a barrel amid escalating conflict in the Middle East.

 

Higher oil prices threaten to feed through to petrol, freight and other business costs, adding to inflation that is already proving stubborn. Combined with stronger-than-expected economic growth, markets now see a four-in-five chance of the Reserve Bank lifting rates on September 29.

 

Bond yields are also climbing, making shares relatively less attractive. Australian 10-year yields reached 5.27%, their highest since 2011.

 

Adding to the uncertainty, US President Donald Trump promised every American a $US5,000 payment if Republicans win both houses of Congress at November’s midterms — a proposal that could cost about $US1.4 trillion and add to concerns about US government finances.

Greed-o-meter

Rank	Team	Value USD $b	YoY change %
1	Dallas Cowboys	17.0	+31
2	Los Angeles Rams	13.5	+29
3	New York Giants	12.0	+19
4	New England Patriots	10.6	+18
5	San Francisco 49ers	10.5	+22
6	Miami Dolphins	10.4	+39
7	New York Jets	10.35	+28
8	Las Vegas Raiders	10.3	+34
9	Philadelphia Eagles	10.25	+23
10	Atlanta Falcons	10.1	+59

Forwarded from a friend? Sign up to our daily newsletter

The LA Rams and the San Francisco 49ers clash in Melbourne today - a battle between the second and fifth most valuable teams in the NFL. The latest list from Forbes shows a huge jump in value year-on-year for every team in the NFL. Even the Cincinnati Bengals, ranked 32nd for the fifth straight year, are up more than 50 per cent, to be worth an estimated $US8 billion.

Listen to today's episode 🎧 

Source: Forbes