Why the AI train is suddenly unstoppable, a painful week for the ASX and the RBA's wicked problem

Speaker 00:00

[upbeat music] The Australian Financial Review.

James Thompson· Host0:06

[upbeat music] I'm James Thompson, senior Chanticleer columnist at the AFR. Welcome to our weekly news breakdown of all things business, finance, and markets. [upbeat music] With me today, as always, is my Chanticleer colleague, hopefully he's having a better week than the ASX, it's Anthony McDonald. How are you, Anthony?

Anthony McDonald· Co-host0:28

Long energy, short financials, James, as usual.

James Thompson· Host0:32

[laughs] Fantastic. [upbeat music] This week we jump aboard the AI train rolling through markets, we take a look at what's wrong with the poor old ASX, and we preview RBA governor Michele Bullock's big interest rate call. [upbeat music] But first, Anthony, let's start with the big corporate news of the day, ANZ's maiden half-year profit under the new CEO Nuno Matos. Anthony, Nuno came in with a storm in the middle of last year. He tore through the joint, set some ambitious goals last October, and he really wooed and, and we should say won over investors. Are we seeing signs of the big turnaround in this first set of numbers from Nuno?

Anthony McDonald· Co-host1:20

Yeah, we are, James. I thought it was a credibility enhancing result.

James Thompson· Host1:24

Mm.

Anthony McDonald· Co-host1:24

You know, Nuno came in last year, released his strategy in October, like you said. This result, for me, it's bang