Reserve Bank predicted to hold the OCR at 5.5% tomorrow.

Good Morning,

Reserve Bank predicted to hold the OCR at 5.5% tomorrow, Australia has appointed a special envoy to combat antisemitism and preserve "social cohesion", amid rising community tension over the Israel-Gaza war, and Trump doesn’t expect Biden to drop out of 2024 race, says president looked ‘extremely pale’ at debate.

Let's jump in.

Before The Bell

Markets

• The Indian rupee was largely flat in early trading on Tuesday as mild dollar sales from state-run banks supported the currency even as most of its Asian peers slipped. (Reuters).

• Nikkei hits record high; investors await Fed chair's testimony. (Reuters).

Earnings and Data

• S&P 500, Nasdaq close at all-time highs ahead of inflation data and second-quarter earnings reports. (CNBC).

• Rising Earnings Expectations Could Make It Harder for Companies To Wow Investors. (Investopedia).

News Summary

• More than 200 consultants and companies clipped the ticket on Labour’s failed light rail project in Auckland, according to details released under the Official Information Act. (Herald).

• The Interislander has denied claims that the Aratere ran aground last month after it was put on autopilot. (Stuff).

• A former Domino's Pizza franchise owner in Canterbury has been sentenced after exploiting migrant workers.

• An Upper Hutt food vendor has been sentenced after he evaded paying between $200,000 and $500,000 in tax over six years. (1 News).

• All forecasts are for the Reserve Bank (RBNZ) to hold the OCR at 5.5% tomorrow. (1 News).

• Embattled MP Darleen Tana does not accept a report into allegations relating to her husband's business and says it "substantially misrepresents her involvement". (RNZ).

• Highly intoxicated, no money’: Dad accused of making tavern trip after leaving 3 kids in car overnight. (NCA).

• Trump doesn’t expect Biden to drop out of 2024 race, says president looked ‘extremely pale’ at debate. (NCA).

• China's biggest electric car maker BYD has agreed a $1bn (£780m) deal to set up a manufacturing plant in Turkey, as it continues to expand outside its home country. (BBC).

• Even as inflation cools, customers are still bristling at higher prices and say inflation is a major concern. (CNBC).

• Australia has appointed a special envoy to combat antisemitism and preserve "social cohesion", amid rising community tension over the Israel-Gaza war. (BBC).

• Tony Blair has warned Keir Starmer to “close off the avenues” of the populist right by keeping tough controls on immigration. (Guardian).

• UK officials fear October port chaos unless EU again delays biometric plan. (Guardian).
  

Deal Flow

Investments / M&A

• Canada Move to Limit Mining M&A Hurts Big Metals Producers, Scotia Says. (BBG).

• David Ellison says Paramount will become a ‘media and tech’ company. (FT).

Equity Raises

• The IPO of New Delhi-based Bansal Wire was open for bidding between July 03 and July 05, which offered its shares in the fixed price band of Rs 243-256 per share with a lot size of 58 shares. (BT).

• Hyundai Motor India IPO: The IPO may unlock value for Indian investors, despite trading at a discount globally due to non-core interests, prompting the need for shareholder-friendly policies. (LM).

Debt

• Kyiv shouldn’t have to fight ‘shameless bondholders’ as repayment deadline nears, say campaigners. (Guardian).

• 'I had to downgrade my life' - US workers in debt to buy groceries. (BBC).

Daily Picks

• Three Columbia Deans Put on Leave for Text Messages Evoking ‘Antisemitic Tropes’. (WSJ).

• NATO Summit Puts Biden’s Fitness Under a Microscope. (WSJ).

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