00:00Investors subtracted about two and a half times the $240 million fine from the value
00:07of ANZ Bank and some of that money seems to have gone into NAB and Westpac.
00:12CSL and Telstra also fell and the market finished a bit lower.
00:16Gold fell slightly over the weekend but had its fourth consecutive weekly gain on expectations
00:21that the US Federal Reserve will lower interest rates.
00:24The price has soared this year as money flows out of the US dollar in the expectation of
00:29an economic slowdown there, if not outright recession caused by the tariffs.
00:34Adjusted for inflation, the price has now gone above the great gold bubble of 1980, also
00:39caused by high inflation and a weak US dollar.
00:42The US Federal Reserve meets on Wednesday for two days and the market is 100% certain that
00:47it will cut US interest rates.
00:49But it's a huge week for central bank meetings everywhere.
00:52There will be 14 of them, a bit like that lucky star song, I've been everywhere man.
00:57America, Canada, UK, Japan, Norway, Taiwan, Brazil, Moldova, Armenia, South Africa, Pakistan,
01:04Mongolia, Eswatini and Ghana.
01:06All this week.
01:07Unsurprisingly, markets are kind of holding their breath to see what happens and the Australian
01:12dollar is holding around 66.5 US cents.
01:15And finally, this graph was in the National Climate Risk Assessment released today by the
01:21Australian Climate Service, which is a partnership between the Bureau of Meteorology, the Bureau
01:25of Statistics, CSIRO and Geoscience Australia.
01:29It shows that the insured losses from catastrophes has tripled in 30 years.
01:35Total losses, including the uninsured ones, are running at 2% of GDP or $38 billion.
01:40And that's finance.
01:41And that's finance.
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