ASX: All-Time High Close
The ASX 200 closed at 9,847 points — a new all-time high — driven by a surge in materials and financials on the back of strong Chinese manufacturing PMI data.
Why it matters: Australian equity markets have returned 18.2% over the past 12 months. Iron ore above $140/t is directly lifting BHP, RIO, and FMG — which together account for 14% of the index.
Source: ASX
Bitcoin: Breaks $150,000
Bitcoin crossed $150,000 USD for the first time in early Asian trading, extending its run following last month’s ETF inflow record of $4.1 billion in a single week.
Why it matters: Institutional allocation is now structurally embedded — BlackRock’s IBIT holds more Bitcoin than MicroStrategy. The next halving in 2028 is already being priced in by quant funds adjusting their four-year cycle models.
Source: CoinDesk
RBA: Holds Cash Rate at 3.85%
The Reserve Bank of Australia kept the official cash rate at 3.85% for a sixth consecutive meeting, citing sticky services inflation and a still-tight labour market.
Why it matters: Markets are pricing in a 70% probability of a cut before August, but the RBA’s statement was more hawkish than expected — leaving mortgage holders in limbo heading into winter.
Source: Reserve Bank of Australia