Sure Financial Limited

The opposition blames what it calls the government's spending addiction, while the Treasurer pointed to the conflict in the Middle East and a burst of private investment in data centres and other areas.

Daniel Mulino is the Federal Assistant Treasurer and Minister for Financial Services and joins me in the studio.

Minister, welcome back to Breakfast.

Oh, thanks very much for having me on, Sally.

California Democrats stand with Dr. Aisha Wahab for Congress.

Aisha will take on Wall Street to bring down housing costs.

OK, now the second one we're going to hear now is for Republican Senator John Husted's reelection in Ohio.

Now, Houston is laser focused on affordability, delivering the biggest tax cut in Ohio history.

is that we've just found out that when you hear from Williams and Jefferson, when their guidance about October or whatever the month might be comes in, even if it predates the data, that's what the policy is going to be.

Because a lot of people on Wall Street concluded the data said go, the data said hike.

The rhetoric from the Fed chair...

He's miles from that.

He wants to change the communication style, but he doesn't know how.

And he's leaving people with a vague impression of what the Fed is thinking.

And it's not helping anybody on Wall Street figure out what to do.

When you listen to what he said today, they want more time to look out the window.

And so depending on your point of view, that was either exciting and enervating or it was something that was threatening to you.

And it was basically threatening at first to Wall Street before they realized how cool it was to trade with index funds.

You tell this lovely story about finding $15,000 in your late father's lockbox that had not been invested.

And it lost 80% of its purchasing power by the time you found it.

Curvens, again, your brother comes to you and says, we've got this idea.

How do you make sure that you're playing in a very big world right now in financial services? And how do you keep up with demands, basically, of we as as a small foundation we can barely keep up with all the the work that we have to do within financial services with these huge banks with things like that but what is you know what is the way that you deal with and you don't have to name names or anything like that but how do you deal how do you deal with these how do you deal with banks how do you deal with your customers basically

That's a great question.

I think the biggest thing is really understanding what the companies actually need.

Instead of saying, this is the architecture that we think we have in the cult.

Interesting.

Either you talk about with our trails, again, kind of the benefits of defining these constraints, because I still think it, I know that it helps move faster because all financial services, I'm not going to say that all they're concerned about is regulation and money.

Like regulation, it's...

This is not how we do it in the Army.

And I ended up taking some finance classes and got a job on Wall Street after grad school.

And so that's how I realized that I didn't like academic supply chain.

I liked academic finance and ended up going to Wall Street.

It's interesting

thinking, but you were going to go into academics before, too.

That was the path if they had allowed it.

And so that's kind of where you ended up now.

Elsewhere in data center infrastructure, Vertiv gapped higher after delivering blowout numbers.

Now back to the Federal Reserve's policy announcement, as covered by The Wall Street Journal.

The Fed's 10 to 2 vote to maintain current interest rate levels came amid a debate inside the FOMC regarding how to navigate energy driven inflation alongside mounting credit risks.

Fed Chair Kevin Warsh emphasized during his press conference that while labor market conditions remain stable, persistent fiscal deficits and volatile commodity markets require a disciplined, cautious policy stance.

As central banking analysts observed, the Federal Reserve is having to navigate sticky energy inflation and high corporate borrowing costs, forcing Chair Walsh to explain the pause today with odds of a December hike still high.

Turning to consumer debt and mortgages, The Wall Street Journal details how millions of homeowners who took out low rate, adjustable rate mortgages during the pandemic era are facing severe payment resets as five year adjustment windows expire.

Real estate finance experts note that borrowers are seeing monthly payments jump by up to 40 percent, placing fresh strain on household budgets across major metropolitan housing markets.

As for AI build-out debts, Bloomberg reports that the massive underwriting pipeline for AI data center loans, corporate bonds, and asset-backed securities is starting to choke on sheer debt supply.

I'm so happy that you can come today to be on this podcast.

Today, we're going to talk about... how financial services are not consolidated and why that is so crucial for investors.

Brian, you're an entrepreneur, you're a business owner, you're an individual, you're an editor, you are a specialist in finance and you have a family of five to support.

You probably have all kinds of services.

So it can get a bit complicated.

And that's the disconnect that we're trying to solve for today.

It's the disconnect in all the services that we need, all the financial services that we need.

So on the one side for investors or individuals who need all kinds of services like you and I would, And to also help the financial service providers understand the stress that's caused by having to individually manage all these moving parts without much help.

Absolutely.

So Krishna Nadella, I run US Financial Services for ITRS.

We are a 30-year-old fintech that focuses on observability and monitoring.

So when one thinks about observability and monitoring, think of like the base layer foundational tech.

You can't live without it.

It's like, you know, water, electricity, you cannot go without observability and monitoring and for us we've done it for so long we've done so well and we have that domain specificity specific to financial services which allows us to get into areas like fixed protocol electronic trading payments market data and which has fostered that level of trust with our customers which are nine of the top ten investment banks exchanges asset managers hedge funds uh because we live in a world that's real time, low latency, highly regulated.

And so we're taking that technology with a wonderful leadership from Ryan Terpstra, who's come on as our CEO about two years ago.

And we're taking it to the next level where we are going from eyes on glass to machines on glass.