Thursday: Global flash PMIs surprisingly weak

US stocks and bonds are rallying after the first indicators of global business activity in August were much weaker than expected, reinforcing market expectations central banks will be able to cut interest rates sooner and by more. In our bonus deep-dive interview, ANZ’s Head of FX Research Mahjabeen Zaman about whether the BRICs have any realistic hope of breaking the global financial system’s reliance on the US dollar as a reserve currency. Before accessing this podcast, please read the disclaimer at https://www.anz.com/institutional/five-in-five-podcast/