| Here's what my colleague, market strategist Mike "Willo" Wilson says happened while we were sleeping… US stocks consolidated, bonds rose and the dollar eased against most major currency peers as markets awaited the imminent announcement of US reciprocal tariffs. A keynote speech by Christopher Kent, Reserve Bank Assistant Governor (Financial Markets) this morning will be monitored for any follow through from Tuesday's press conference following the decision to leave rates unchanged. Any references to tariffs would be timely and should move Aussie, and by extension, kiwi. US President Donald Trump's sweeping tariffs will take immediate effect after they are announced Wednesday in the US, his top spokeswoman said. His plans have sparked fears of a US recession and a global slowdown, as well as the end of a post-war order. Gladstone, a town in Australia, is facing a major test as it tries to reinvent itself in a world switching to clean power, after decades of relying on fossil fuels. The outcome will be an early indicator of the struggles economies will face over the coming century, as clean energy and geopolitical rivalries remake trade and diplomacy, writes Bloomberg Opinion's David Fickling. Alibaba Group is planning to release Qwen 3, an upgraded version of its flagship AI model, as soon as this month with competition from rivals including OpenAI and DeepSeek heating up. Izzy Englander's Millennium Management and Ken Griffin's Citadel lost money last quarter amid President Donald Trump's trade wars, even as other hedge funds gained. | 
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