Five Things: Record ASX, AAA Rating, Immigration Stoush, Bird Flu Alarm, and Indonesia Risk

The S&P/ASX 200 has reset its record high twice this week, powered by a stunning 6 per cent surge since the start of July that has outpaced all three major US indices on Wall Street. Market strategists at JPMorgan, Morningstar and Ophir say the rally is built on solid fundamentals — not just FOMO — and expect it to keep climbing through earnings season, with hopes of a US-Iran deal on the horizon. But the Frenchie column warns a worrying...