Video Update BHP, Bond Yields and the AI Accounting Question.

Summary

Australian markets had a subdued August, with one stock doing most of the heavy lifting and a fresh warning shot fired at private credit investors. Emmanuel Calligeris explains how far BHP and the iron ore trade are propping up the ASX — and what happens to the index if that trade runs out of steam. He looks at climbing bond yields and shifting rate expectations, where the RBA's next move may be a rise rather than a cut, and at a high-profile private credit collapse that has reignited an old debate: is this asset class really as “defensive” as it’s often sold to be? He also unpacks the growing question mark over how the AI data centre boom is being accounted for and whether today’s tech earnings are as solid as they look, plus what the US Fed’s new chair and the Treasury’s handling of a stubborn bond market mean well beyond America’s borders. Where do the risks — and the opportunities — sit heading into 2027?