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Morgans Chief Economist and Director of Strategy, Michael Knox, joins Steve Austin on ABC Radio Brisbane to discuss the IMF’s latest Fiscal Monitor, released in October. The IMF now expects Australia’s budget deficits to run about 1% of GDP higher out to 2030 than forecast this time last year. That’s numbers Michael says are starting to look like those of European welfare states. In this interview, Michael covers: What the IMF’s October Fiscal Monitor shows for Australia’s budget outlook Why larger deficits add to demand and put upward pressure on inflation What this could mean for the RBA cash rate and the labour market The case for lifting the GST and cutting taxes on savings to boost investment and productivity Who really sets economic policy in Canberra This video contains general information only and does not take into account your personal circumstances. Please seek advice from your Morgans adviser before making any investment decisions.

US equity markets advanced despite a fresh rise in Treasury yields, with some solid gains among technology heavyweights – Dow added +91-points or +0.18%, with NVIDIA Corp (up +2.12% to a fresh record closing high of US$238.90) and Visa Inc (+2.51%) up over >2%. Merck & Co Inc (down -3.3%) was the worst performer in the 30-stock index Salesforce Inc -2.09%.

US equity markets advanced on Friday (2 October) after a sharp slowdown in the labour market eased concerns about a near-term interest rate hike, while oil prices fell after the Group of Seven (G7) said it would release fuel reserves– Dow rose +250-points or +0.49%. Cisco Systems Inc +3.56% NVIDIA Corp +1.34% to US$233.95 and touched a record intra-day high (US$237.88). Nike Inc dropped -3.64% to be the wort performer in the Dow on Friday (2 October) after the athletic footwear and apparel giant posted a mixed fiscal first quarter result after the close of the previous session and announced a restructuring plan that will lead to layoffs starting next year.

US equity markets opened the new month and quarter with modest gains, recovering from earlier losses as Treasury yields retreated from multi-decade highs and investors eyed tonight’s AEST jobs figures – Dow inched +21-points or +0.04% higher. Boeing Co (up +3.35%) and Salesforce Inc (+3.1%) rallied over >3%, while International Business Machines (IBM) Corp gained +2.59%. Walt Disney Co (down -3.4%) and Amgen Inc (-3.38%) both fell ~3.4%, with the former planning to cut hundreds of jobs as part of a restructuring of its television operations according to the Wall Street Journal.

Morgans AM - Thursday, 01 October 2026 by Morgans Financial