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Here’s what you need to know today

• For those who missed it on Friday, Australia now has an election date. We’ll all be heading to the polls on Saturday 3 May, with Peter Dutton challenging Anthony Albanese to become Australia’s Prime Minister for the next 3 years. (BBC)
  
  

• The first weekend of the election campaign saw both potential leaders come out swinging. Prime Minister Anthony Albanese told supermarkets Coles and Woolworths to “stop taking the piss” with price hikes and Opposition Leader Peter Dutton focused on his proposed national gas reservation scheme. (AFR | ABC)
  
  

• US inflation ticked up, with the Fed’s preferred measure of inflation - the Core Personal Consumption Expenditures Index - up 0.4% month-on-month. Markets panicked, with the S&P 500 down 2% on Friday. (Bloomberg)
  
  

• A 7.7-magnitude earthquake hit Myanmar with at least 1,600 dead and many more injured. The effects were also felt in neighbouring Thailand, where a skyscraper collapsed in Bangkok trapped dozens of people in the rubble. (Nine)
  
  

• America’s quest to acquire Greenland continued, with Vice President J.D. Vance visiting Greenland and telling its people they would be “much more secure” if they partnered with America. Earlier in the week, President Trump had said he would “go as far as we have to go” to control Greenland. (ABC)
  
  

• Danish weight-loss drug maker Novo Nordisk is on a buying spree. Last week, it signed a $2 billion deal for a Chinese weight-loss drug and then followed it up with a $1 billion agreement to license an experimental obesity drug from America’s Lexicon Pharmaceuticals. (Reuters)
  
  

• OpenAI is looking to raise money again. This time it is looking to raise $40 billion at a $300 billion valuation. If complete, this capital raise would be the largest for a startup of all time according to research firm PitchBook. (Quartz)
  
  

• Israel launched its first attack in Beirut, Lebanon’s capital, its first since it reached a ceasefire with Hezbollah in November last year. Israel also hit targets in southern Lebanon after intercepting a rocket fired from the Lebanon side of the border. (ABC)

What the…?

One of the biggest spenders on AI infrastructure is now warning we are in an AI Data Centre bubble. Chairman of Alibaba, Joe Tsai, told a conference in Hong Kong, when he looks at current AI infrastructure spending commitments “I start to see the beginning of some kind of bubble.”

What makes this comment confusing is it becomes a month after Alibaba announced plans to invest $53 billion in AI infrastructure over the next 3 years, which was the largest commitment ever by a Chinese private company. (Quartz)

Investing is a lifelong journey

Here’s what you can learn today.

How often should you review your home loan?

This is an excerpt from our live Q&A with Chris Bates we streamed on YouTube.

Question: Is it worth refinancing your mortgage every few years?

Chris: Yeah. The reason you have to refinance is because the banks don't look after you. So if the banks looked after you, then you probably wouldn't have to refinance every few years because you'd always be on the best rate in the marketplace.

But if you type into Google ‘loyalty tax mortgages’, you'll see that there's been inquiries on this. Because what happens is the banks basically take advantage of you. They play on your apathy, right? They say, I've got you on this good deal. I'm not going to give all my existing customers good deals. I'm just going to give my new customers better deals.

And what they do is they just rely on you not reviewing your mortgage. And bit by bit, you fall more and more out of the marketplace. And if you don't look at your home loan probably every 12 months, that could be 10 or 20 or 30 basis points. And over years, it could be 50, 60 basis points. And so that's the reason you have to review your mortgage.

Want to watch the full Q&A? Check it out, exclusively on the Equity Mates YouTube:

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