Crypto News: House price growth slows

Good morning, it's Ainslie and Matt here for the first day of August. The RBA meets later today, but first...

Today's must-reads:
• House price growth decelerated in July
• China's lagging growth
• Futures point to positive open

Australia's house price growth slowed in July as property listings increased, suggesting sellers are taking advantage of current market strength, including those struggling to meet their obligations after rapid interest-rate increases. Mortgage holders may feel more pain with economists and money markets divided over whether the Reserve Bank of Australia will lift rates at its meeting later Tuesday.

Australian equities futures are pointing to a strong open, after
global stocks finished higher in the final day of July. The S&P 500 notched its longest streak of monthly gains since August 2021, defying worries about an overheated market.

Economic growth in Australia's biggest trading partner, China, is fading after decades of supercharged expansion. A much-anticipated post-pandemic recovery appears to have flopped, with data flashing warning signs across the economy. This time, the government's traditional tools for reversing course may not be viable options. In the Bloomberg Originals mini-documentary China's Great Slowdown, we look at why China's slowdown could send ripples around the world.

Waste from winemaking may have uses in supplements, according to research from Monash University. Researchers found compounds in wine byproducts in can be made into a liquid that tastes and smells like a weak grape juice, and may have some health benefits. The polyphenols, which include things like resveratrol, and anthocyanins have been associated with protecting against health issues ranging from cancer to cardiovascular diseases and diabetes in some preliminary studies.

Vines in New South Wales. Photographer: Brendon Thorne/Bloomberg

A full investigation into the crash of an MRH90 military helicopter on Friday night has been ordered as authorities no longer hold any hope of finding the four crew members alive.

Bank of Japan watchers don't expect any further change from the central bank this year, after the BOJ jolted global financial markets by raising the tolerated ceiling for 10-year yields to 1% last week, according to a Bloomberg survey conducted Monday.

Deep-sea mining will have to wait until at least 2025 after meeting of the International Seabed Authority ended with most nations refusing to accept mining applications until regulations exist.

Former US President Donald Trump said Monday he assumes he will be indicted "any day now," as the grand jury investigating his involvement in attempts to overturn the 2020 election wraps up its work in Washington.

L Catterton, the private equity firm backed by luxury French fashion house LVMH, is set to launch an initial public offering of Birkenstock as soon as September that may value the iconic footwear maker at more than $8 billion, people with knowledge of the matter said.

Photographer: Sean Gallup/Getty Images Europe

And a global race is taking place from Singapore to Miami and Lausanne as governments fight to attract booming family office businesses, especially from Asia. With residency, luxe living and low taxes mere table-stakes, the availability of trained staff to help the ultra-rich run their lives and their money has become a key battleground. Trillions of investment dollars and top jobs that sometimes pay $1 million or more are up for grabs.

• Building approvals and home loan data, 11:30am Sydney
• Reserve Bank of Australia rates decision, 2:30pm

Fan-cooled beds and baby carriers were among the new heat-beating tech on display at Tokyo's annual Extreme Heat Countermeasures Exhibition last week. As fossil fuel emissions accelerate climate change, there is growing appetite for the products from consumers and public institutions. "The heat is just getting extraordinary in the last decade—it's not something that will suddenly disappear next year," said Hayato Ohashi, who works in sales at industrial fan manufacturer Earth Blower Japan.