A “rate of concern”

Good Morning,

Aussie dollar faceplants as Fed flexes and RBA blinks, copper bros brace for Trump’s tariff tantrum, and Southern Cross cops $1.1m slap for being “a bit misleading.” FBI sneaks into Wellington, tsunami alert sends boomers into group chats. Senior Trust Capital hits the slow shutdown lane, Macquarie’s Glenn Stevens gets sweaty under investor pressure, and ATO comes knocking on Adgemis’ door for $162m (oops). Meanwhile, SkyCity eyes a garage sale, Brookfield grabs the UK’s Just Group, North Stawell strikes gold, and Adam Busby is jailed after a grim case. Israel-Gaza remains on edge, Myanmar preps polls, Trump throws shade at Canada, and Australia’s first rocket goes boom.

Let's jump in.

Before The Bell

Markets

• Aussie dollar tumbles as the Fed and RBA diverge on rates (AFR)

• Betting on copper? Here’s what Trump’s tariff will do to prices (AFR)

• Southern Cross Travel Insurance admits to misleading statements, pays $1.1m - FMA (Stuff)

News Summary

• Why Civil Defence issued a 6.30am tsunami alert (Stuff)

• FBI opening base in Wellington, after director Kash Patel makes secret visit to the capital (Stuff)

• Senior trust capital wins up begins long wind up (NBR)

• Infrastructure commission backs congestion charging (NBR)

• Glenn Stevens feels the burn from Macquarie’s worried investors (AFR)

• ATO pursuing Adgemis for $162m, double what he has told creditors (AFR)

• Man arrested in killings of US couple in front of their children (9 News)

• Young man shot dead in brazen Melbourne laneway ambush identified (9 News)

• IDF gunfire kills 30 Palestinians waiting for aid, Gaza defence ministry says, as US special envoy due to visit Israel – Israel-Gaza war live (Guardian)

• Myanmar junta ends state of emergency as it prepares for elections (Guardian)

• Trump says Canada's move to recognise Palestinian state threatens trade deal (BBC)

• First Australian-made rocket crashes shortly after lift-off (BBC)

Deal Flow

Investments / M&A

• Asset sales seen as priority for sky city (NBR)

• Ironbark AM fires up $225m raising for wealth M&A blitz (AFR)

• Canada's Brookfield to buy UK's Just Group for $3.2 billion (RT)

Equity Raises

• North Stawell Minerals Confirms New Gold Mineralization and Launches Equity Raising (TP)

Daily Picks

• NEMA to investigate glitches with emergency alert system (RNZ)

• Adam Busby jailed for sexual connection with a 12yo whom he impregnated (RNZ)

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