Fear & Greed Afternoon Report | 10 Sep 2026

0:00Welcome to the Fear and Greed Business News afternoon report for Thursday, the 10th of September, 2026. I'm Michael Thompson and every afternoon we've got the five stories that happen today that you need to know about. Let's go. Story number one, the local share market has been hit pretty hard today. As oil pushed above a hundred US dollars a barrel and bond yields surged fueling fears that inflation will stay higher for longer and of course then that interest rates may need to rise again. The S&P ASX 200 fell 1% to 8,819 points that is third straight decline. Every sector today finished in the red. I mentioned bond yields, Australian 10 year bond yields climbed to 5.27%. That is the highest since 2011. Brent crude briefly topped 101 US dollars because of the ongoing crisis in the Middle East. Sting stocks locally were among the hardest hit BHP was down almost 2% fordiscume or 2% Rio Tinto nearly 3%.

1:02The big banks were also weaker. The tax stocks zero and next DC led the falls there. Some other companies as well, nine entertainment fell more than 5%. A couple of positive stories though, Ostal, the ship builder jumped 6% and car dealer EGERS was up 3%. The story number 2 now and former Prime Minister Kevin Rudd says Australia risks becoming a second rate country unless governments and businesses radically lift their ambition on technology, industry and national security. Rudd told the National Press Club today that incremental policy changes were no longer enough calling for seven industry zars to drive investment in areas including AI, biotech, clean energy, critical minerals and defence. He also wants Australia to rebuild an automotive industry around electric vehicles and also around new manufacturing technology. And just quickly on national security, Kevin Rudd who is really an expert on China, he

2:03put the chance of Beijing trying to seize Taiwan as early as 2028 as around 1 in 3. Rudd says Australia and its allies need to strengthen military deterrents, including through orcas to reduce that risk. Story number 3, Queensland could be hit with its first credit rating downgrade since 2009. As debt climbs in the state faces a major spending bill ahead of the 2032 Olympics, S&P already has Queensland's AA plus rating on negative outlook and the Australian newspaper reports that a downgrade could come as soon as tomorrow. The government borrowing is forecast to reach more than $216 billion by 2030, with taxpayers expected to spend at least $7.7 billion on interest. Economist Saul Eslake says Queensland's debt rather isn't as bad as some other states, but it is deteriorating faster. A downgrade would matter because a weaker credit rating can make it more expensive for the

3:03government to borrow. Story number 4 back to markets for this one. Breville Chief Executive Jim Clayton has sold more than $4.3 million worth of shares in the Kitchen Appliance Company. The shares were sold between September 3 and September 8. Clayton still owns about $6.4 million worth of Breville stock, which is comfortably above the company's minimum shareholding requirement for its chief executive. Now, share sales by executives aren't unusual after reporting season and they don't necessarily signal anything about a company's outlook. It doesn't mean investors have to like it though, and Breville shares fell around 1% today. Finally, story number 5 Samsung has responded to Apple's first foldable iPhone with a mix of advertising, sarcasm, and a reminder that it has been making folding phones for seven years. The Korean company has launched billboards in major cities saying, welcome to foldables, while taking shots at Apple on social media with lines including re-heating our leftovers

4:04and so far, so same. But behind the jokes, Apple does pose a pretty serious competitive threat. The research group Counterpoint expects Apple to quickly capture about a quarter of the global foldable market compared with 38% for Samsung. Apple shares initially fell more than 2% during the event where the iPhone duo, the folding phone, was announced before recovering to finish down about 0.3%. It's not really necessarily much to read into. Apple shares have historically tended to underperform around iPhone launch days because so much is known beforehand. And that's it for the afternoon report. For Thursday, the 10th of September, make sure you're following the podcast and head along to fearandgreet.com.au website to sign up for our free daily newsletter. I'm Michael Thompson. Enjoy your evening.