Australiabud

• The Australian Government reported an underlying cash deficit of A$10.9 billion for 2025–26 to 31 May 2026.
• Receipts were A$1.7 billion above profile while payments were A$5.9 billion below profile, improving the in‑year position.
• The Government’s published budget still forecasts a full‑year underlying cash deficit of A$28.3 billion and a fiscal deficit of A$50.1 billion.

The Bank of England held interest rates at 3.75% as it said the recent fall in oil prices was "encouraging," even while two policymakers voted for an immediate quarter-point hike over concerns of persistent inflation. Bloomberg's Lizzy Burden reports.

US Senator Elizabeth Warren, a Massachusetts Democrat, says President Donald Trump "can't point to where we're better off" after the war in Iran. Speaking on "Balance of Power: Evening Edition," Senator Warren also discusses Defense Secretary Pete Hegseth's military budget request, her criticisms of Kevin Warsh as chair of the Federal Reserve, the state of housing and the SpaceX IPO.

Jack Lew, former US Treasury Secretary, joins Scarlet Fu and Tom Keene on "Bloomberg Money." Projections in the latest annual Social Security Trustees says there could be severe shortfalls in funding by 2032. Lew says that's unacceptable and government can't wait to fix the problems.

Senior government officials have warned Russian President Vladimir Putin that spending on the war in Ukraine is on an unaffordable path, the most serious sign of internal division in Moscow since the full-scale invasion began. Bloomberg's Tony Halpin reports.

Treasurer Jim Chalmers confirmed the 2026 budget will forecast lower deficits but no return to surplus.

Steven Mnuchin, founder of Liberty Strategic Capital and former US Treasury Secretary, says he supports the proposal released by the Securities and Exchange Commission that will allow US companies to choose to report earnings semiannually. Speaking at the Milken Institute Global Conference in Beverly Hills, California, Mnuchin also comments on the economic impact of AI, the conflict in Iran, the federal budget deficit and Federal Reserve monetary policy.

President Donald Trump proposed a 44% raise for the Pentagon in his $1.5 trillion defense budget, a number that's already facing pushback from members of both political parties, including key congressional Republicans. Tyler Kendall reports on Bloomberg Television.

Bill Nye, also known as "The Science Guy," and The Planetary Society chief ambassador, calls the proposed budget for NASA a "slap in the face," especially after all that was accomplished with the Artemis II mission to the moon. Nye says 53 space missions could be cut due to drastic budget cuts. He spoke to Bloomberg The Close on Monday.

Australian Treasurer Jim Chalmers tells Bloomberg TV that the global economy faces a "really dangerous moment" as the Middle East conflict threatens to accelerate inflation and drag on activity.