Delivered on

How we're tracking

Good morning! Some good news on the lockdown front – South Australia's Premier Steven Marshall said there is "every indication" the state will come out of lockdown at midnight tonight as planned, with Victoria expected to announce its post-lockdown roadmap later this morning.

The situation remains a bit less clear in New South Wales, where the government will meet sometime this week so that it's able to "convey what life looks like on July 31 in the one go", likely on Friday morning.


Daily % change




10Y Bond






Brent (bbl)



Gold (oz)



Iron ore (t)






Note: Brent oil, gold bullion and iron ore prices are the second futures contract.

There were more record highs in the US overnight, with the S&P500 rising 0.24% as June quarter earnings remain on track for their best result since 2009. Expect a bit of volatility in the coming days with Tesla and Facebook due to report and the Fed meeting for two days from tonight. Locally, the ASX200 briefly hit a record high during the morning session before closing flat, with Asian shares hitting a 7-month low after yet another crackdown in China.

Crypto ignites: The price of most cryptocurrencies jumped more than 10% yesterday, supposedly over "speculation over Amazon's potential involvement in the cryptocurrency sector", even though the news of Amazon advertising for a digital currency product lead broke over three days ago. Meanwhile, the US Justice Department revealed it is investigating fake stablecoin Tether for possible bank fraud. 🤔

Xi Jinping's hammer: 🔨 China's share market plunged on Monday after the government cracked down on a sector it perceived to be "hijacked by capital", "unveiling a new set of sweeping regulations" banning after-school tutoring companies "from making profits and raising capital from overseas markets". The move followed Saturday's decision to order Tencent to give up its exclusive music licensing rights and fine it for "anti-competitive behaviour".

A message from Paris: Australia's former finance minister and current OECD secretary-general Mathias Cormann warned governments against maintaining "blanket support for too long", arguing that "it will be important to recommit to the important task of budget and balance sheet repair to strengthen resilience in the face of inevitable future shocks or headwinds".

To the moon: ANZ is forecasting property values in Sydney and Perth to rise by 19% this year, Hobart by 18%, Melbourne and Brisbane by 16% and 13% in Adelaide. It's all good though, because measured consumer prices are only growing at 1.1%. Nothing to see here, move along...

Thanks for reading Brekky Wrap.
Forwarded this issue? Click here to subscribe.


How we're tracking

Chart showing vaccine doses administered and what that means for the rollout.
Australia's vaccination rollout is slowly improving.

Australia's vaccine rollout was doomed from the start, with a botched ordering process putting us to the back of the global queue. However, the situation has gradually improved in-line with the promised increase in weekly Pfizer deliveries.

Why this matters: None of the lockdown chaos will end until a majority of adults have been vaccinated against COVID-19. Australia's current 7-day average is now up over 150,000 doses, meaning we're on track to fully vaccinate 80% of adults by early December.

The better news is that provided there isn't a significant amount of vaccine hesitancy in the community (>20%), that rate should continue to accelerate as AstraZeneca recipients receive their second doses and weekly Pfizer deliveries ramp up by a further 25% in September.

Tokyo 2020 🗼

Australia added just one new gold medal yesterday, with Ariarne Titmus winning the women's 400m freestyle final with a strong finish to overcome US champ Katie Ledecky. No one was more excited than her coach, who went absolutely bonkers in celebration.

In other news, weightlifter Hidilyn Diaz won the Philippines' first ever gold medal in the women's 55-kilogram category, ending the country's 97-year drought. 👏

Medal tally




1 🇯🇵 Japan




2 🇺🇸 United States




3 🇨🇳 China




4 🇷🇺 ROC







7 🇦🇺 Australia




The Wrap Up

  • 💉 ScoMo ruled out diverting Pfizer doses from other states to New South Wales, as doing so "would undermine the national vaccine program".
  • 🏠 The federal Labor party abandoned its plan to abolish negative gearing and will no longer oppose the 1 July 2024 'stage three' tax cuts, which were designed to partially reverse bracket creep.
  • 🚀 NASA will launch a mission to one of Jupiter's ocean moons on a SpaceX Falcon Heavy rocket instead of its own Space Launch System rocket, cutting more than $US3 billion from the mission's total cost and bringing it forward by up to two years.
  • 😷 Despite ongoing protests, France's government approved a law mandating universal vaccinations for health workers and vaccination passports to enter all restaurants, trains and planes.
  • 🚭 The CEO of Philip Morris International said the company will stop selling Marlboro cigarettes in the UK within a decade and that cigarettes should be banned.
  • 🕵️‍♀️ Google plans to transition all Chrome browser users to its new "Federated Learning of Cohorts", which is how it plans to eliminate the use of third-party cookies (trackers) by... doing all the tracking itself, in the browser.
  • 🦹 "The Assange Case Is Collapsing – But it Remains a Travesty of Justice."
  • ✝️️ Only in Florida? A man washed ashore inside a 'bubble-like vessel' after an apparent attempt to walk on water.
  • 🧠 A new study published in The Lancet journal EClinicalMedicine found that: "People who had recovered from COVID-19, including those no longer reporting symptoms, exhibited significant cognitive deficits versus controls."
  • 💲 Sweden will pay people 200 Swedish kronor (~$A30) to get a COVID-19 vaccine, as part of a study to see whether small cash incentives can improve uptake.