U.S. stock futures indicate a positive start on Wall Street, buoyed by recent inflation data and the avoidance of a government shutdown. The dollar remains strong due to high bond yields, while European markets face challenges amid political turmoil and a declining euro. Oil prices are pressured by a robust dollar and concerns over Chinese demand.
Australia's prudential regulator will phase out Additional Tier 1 (AT1) hybrid bonds over the next eight years, citing their ineffectiveness in absorbing losses during crises. The Australian Prudential Regulation Authority (APRA) aims to replace these with more reliable capital forms, responding to recent global banking turmoil. Changes to prudential standards are expected to be finalized by the end of 2025, with implementation set for January 1, 2027.
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