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Two news anchors reacted with alarm to the global bond selloff and mocked the Trump administration's failed response.On Tuesday, CNN anchor Erin Burnett and Richard Quest, the host of Quest Means Business, explained what's happening in the global bond market and why it spells trouble for major economies.Burnett described how "turmoil" like the war in Iran has led to "meaningful economic impacts, and people experience them every single day." Referring to a global bond selloff, Burnett explained, "something happened today in the market that was sort of a five-alarm fire when it comes to where things are going.""It's very concerning because it's the markets telling governments, not just in the United States but also in Europe and in Japan, that their fiscal path is unsustainable," Quest said.Quest explained that investors known as "bond vigilantes" are behind the global selloff, adding that they only "come out of the woodwork when they see government debt or even corporate debt" that they think is unsustainable."They basically ratchet the price down and the yield up," Quest explained. "That's not fine for a company, but that's only a company. In this case, we're talking about the U.S. government debt."Quest noted that Treasury Secretary Scott Bessent tried to quell the turbulent bond markets a couple of weeks ago, but that "seems to have failed because rates are back where they were. The market is basically saying they don't believe what this administration is planning to do."Burnett flagged that as "a hugely significant thing to say" because the Treasury Secretary, along with the Federal Reserve chairman, are people who "the markets have taken very seriously."She also played a clip of Bessent saying, "The U.S. bond market has been the best-performing market since the president came in," which was met with laughter by Quest."He was trying to move the price rather than the fundamentals," Quest said, explaining Bessent's failure. "The best analogy that I can give you for that quote from Bessent is that famous line, 'the cleanest dirty white shirt in the laundry,' and that's what the U.S. is."

Government talks up pact but Venezuelan opposition alarmed that democracy yet to return after Maduro exitTrump administration officials on Tuesday defended a highly contentious deal giving the US control of a significant chunk of Venezuelan oil reserves, arguing that the sweeping agreement would help stabilize and rebuild democracy in the shattered South American country while giving Washington vital access to strategic crude reserves.Last week, Donald Trump announced a “groundbreaking” deal that would give the US “majority” control over 65bn barrels – roughly one-fifth – of Venezuela’s oil reserves. Continue reading...

Weekend raids had already resulted in around 40 to 50 people being detained on suspicion of prostitution.

Other families have been unlawfully compelled to be case-managed without consent, watchdog findsFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastMore than a third of all reports raising concerns about the future welfare of unborn children were closed due to a shortage of allocated caseworkers, while families were unlawfully compelled to take part in prenatal case work, the New South Wales ombudsman has found.In its findings after investigating the Department of Communities and Justice’s practice of responding to prenatal reports, which were released on Friday, the watchdog raised concerns about the number of reports about particularly high-risk children that were not referred on to further support services or a dedicated case manager due to a lack of resources. Continue reading...

Leipzig/Halle is a major hub for international freight and for providing support to Ukraine. The planes that regularly use it include Ukrainian Antonov transport aircraft.

Police urged people in Overasselt to stay indoors after one person died and 34 were arrestedAuthorities have arrested 34 people, including French, Belgian and Algerian nationals, after a person died in a pre-dawn shootout in a Dutch village reportedly linked to a notorious drug lord.Police urged people in Overasselt, near the German border, to stay indoors with doors and windows shut in case further suspects were on the loose. Continue reading...

Attacks on Iran’s Revolutionary Guard and reprisals against US bases in Middle East quash hopes that flare-up last weekend was limited in natureThe US has launched new airstrikes on Iranian targets, prompting counter strikes by Tehran targeting American interests in Bahrain, Kuwait, Jordan and Iraq, fuelling concerns about a ⁠wider renewal of hostilities.US Marine Corps base Camp Titin in Jordan was targeted for an “intense ballistic missile attack”, Iran’s Revolutionary Guards (IRGC) said early on Wednesday, according to Iranian news outlet Tasnim. Continue reading...

Five missing Australians have been found since Tuesday morning, bringing the total citizens unaccounted for to 38Australians missing in the Nepal floods: what we know so farA total of five Australians missing after devastating floods ravaged the Nepal-Tibet border last week have been found.Of the five Australians confirmed safe, one was found in Nepal, one in Tibet, China and three outside the crisis-hit area. The total number still missing is 38. Continue reading...