The major threats to the stability of Australia’s financial system are more likely to emerge from offshore than domestically as the Trump administration’s dramatic reordering of global trade threatens to unsettle highly leveraged and excessively valued asset prices.
That’s the assessment of the Reserve Bank of Australia, which delivered its semi-annual health check of the financial system just hours after US President Donald Trump unveiled a sweeping tariff program that sent global share markets plunging.
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Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
