ASX Earnings Season Opens with Banking Shockwaves and Rate Pessimism

$28 billion — the approximate value of major bank hybrid securities that will need to be unwound after the regulator's wind-down order, creating turbulence in Australia's listed fixed-income market.

Money Moves

• ASX Futures Point Lower — S&P/ASX 200 futures were down 24 points or 0.3% to 9,128 ahead of the open, tracking a muted global tone despite Wall Street's tech-led gains.
• Westpac CEO Sounds Alarm — Westpac chief executive warned that...