Finance

Original title: Gold Punches Through $3,500 to Hit Record High on Rate-Cut Bets Gold hit a record high as the prospect of Federal Reserve rate cuts and growing concerns over the central bank’s future gave fresh legs to the multiyear rally in precious metals. Bullion for immediate delivery rose as much as 0.9% to $3,508.73 an ounce — surpassing the previous peak reached in April — before paring some gains during early trading in Asia on Tuesday. The precious metal has gained more than 30% this year, making it one of the best-performing major commodities. ...

Original title: Australia’s EOS Surges as Drone Wars Enter Next Phase 00:00 Defense budgets are climbing around the world as geopolitical risks Mount Bloomberg intelligence sees a $300 billion revenue opportunity for contracts is driven by demand for radars, launchers and interceptors. One company benefiting from that demand is Australian defence firm electro optic systems. The company recently secured a €71 million drone defence contract from a NATO member country. Its clients include the US and Australian Defence Forces, plus Gulf nations in the Middle East. Joining us exclusively is Andreas Vaya CEO and managing Director of Electoral Optics Systems. Andreas, really good to get you with us. Talk to us about the overall outlook. There’s a lot of attention in this space. What do you see as the demand trajectory? How sustainable is it against this backdrop of a more militarized world that we are living in? Yeah, things as well. So indeed, Electronic Systems is getting lots of attention from the marketplace. We are in the middle of a supercycle, a supercyc ...

Original title: Indian Electronic Manufacturers Light up as Ties With China Strengthen Before the trading day starts we bring you a digest of the key news and events that are likely to move markets. Today we look at: Good morning, this is Ashutosh Joshi , an equities reporter in Mumbai. With Prime Minister Narendra Modi and President Xi Jinping discussing ways to boost trade and investment, some market players are formulating investment theses based on the improving relations. All eyes are on the first Tuesday expiry of Nifty 50 index options after the recent rule change. On the trade front, talks between the US and India are in the spotlight, after President Donald Trump said that India has offered to sharply cut tariffs on American goods. While domestic inflows remain strong and derivatives activity is buzzing, technical charts still point to softness beneath the surface. ...

Original title: Treasuries Holdings Cut at Australia’s No. 2 Pension on US Risk Australia’s second-biggest pension fund has grown increasingly bearish on US Treasuries due to concerns that Washington’s policies may stoke inflation. Australian Retirement Trust Pty, which oversees A$330 billion ($216 billion), is underweight US bonds through its dynamic asset allocation strategy, senior portfolio manager Jimmy Louca said in an interview last week. Original article

Original title: World’s Long-Dated Bonds Face a Traditionally Terrible Month Longer-maturity bonds may be in for a treacherous September, if history is any guide. Over the last decade, government bonds globally with maturities of over 10 years posted a median loss of 2% in September, according to data compiled by Bloomberg. That’s the worst monthly performance of the year. Original article

Original title: Indian Money Manager EAAA Raises $510 Million for Private Credit EAAA India Alternatives Ltd. raised 45 billion rupees ($510 million) for its first private credit fund that focuses on special situations such as business turnaround cases using money collected entirely from domestic investors. The fund, which garnered cash from large family offices and wealthy individuals, aims to generate returns in the high teens, said Amit Agarwal , chief executive officer of EAAA, one of India’s largest alternative asset managers. Proceeds from the fundraising will be invested in high-yield debt across industries and used for acquisition financing and corporate recapitalizations too, he said in an interview last week. ...

Original title: Liquidators Focus on Evergrande Founder Hui in HK Court Case China Evergrande’s liquidators are set to zero in on company founder Hui Ka Yan during a court hearing in Hong Kong on Tuesday, where they will push ahead with efforts to recover funds related to one of the world’s biggest corporate meltdowns. While Hui isn’t likely to attend the hearing, he remains a key figure in the ongoing case. ...

Original title: Oil Drifts as Traders Wait for OPEC+ and Next US Move on Russia Oil drifted as traders waited for fresh catalysts to move prices out of what’s been a relatively narrow band, with attention on an upcoming OPEC+ meeting and US moves on Russian supplies. Brent traded above $68 a barrel after the November contract gained 1% in the previous session, while West Texas Intermediate was near $65. OPEC+ will hold a meeting this weekend to decide on output for October, and market watchers are divided over the likely outcome between no change and a modest rise. ...

Original title: Asian Stocks Edge Higher, Treasury Curve Steepens: Markets Wrap Asian stocks posted modest gains at the open Tuesday, with attention back on technology shares and the artificial intelligence sector following the surge in Alibaba Group Holding Ltd.’s shares. Shares in Japan and South Korea rebounded after Monday’s losses while Australia’s declined. Gold extended its gains to a sixth day, its longest winning streak since April 2024. Oil edged up. ...

Original title: Japan 10-Year Debt Sale Clouded by BOJ Hike Path, Fiscal Risks Japan’s 10-year government bond auction Tuesday will be a key test of investor appetite amid growing expectations of rate hikes by the Bank of Japan and mounting political uncertainty. The sale comes on the day of a speech by BOJ Deputy Governor Ryozo Himino that may give more insight into the central bank’s policy path. The Liberal Democratic Party is also expected to hold a review on July’s election performance Tuesday, according to comments by Secretary-General Hiroshi Moriyama last month. ...