Markets Overview
- ASX SPI 200 futures up 0.5% to 7,305.00
- Dow Average down 0.6% to 33,823.45
- Aussie down 0.8% to 0.7549 per US$
- U.S. 10-year yield fell 7.0bps to 1.5074%
- Australia 3-year bond yield rose 11bps to 0.37%
- Australia 10-year bond yield rose 10bps to 1.64%
- Gold spot down 2.2% to $1,772.29
- Brent futures down 1.8% to $73.06/bbl
Economic Events
Asian stocks looked set for gains Friday after U.S. technology shares rallied and Treasuries advanced, with investors unwinding some of this year’s dominant reflation trades. The dollar held an advance and commodities slumped. The benchmark S&P 500 ended little changed. Treasury yields tumbled amid speculation investors were unwinding curve steeping trades after Federal Reserve officials signalled monetary policy tightening could start earlier than expected, helping to rein in the risk that inflation might get out of hand.
Other News
According to the designer, the “satirical solution” is designed to help people “recognise the severity” of their smartphone addictions. A “third eye” has been developed to keep “smartphone zombies” from stumbling into items while staring at their devices. Paeng Min-wook, a 28-year-old South Korean industrial designer, claims that the robotic eyeball can be fastened to a person’s forehead, allowing them to browse without injury. When The Third Eye detects that the user’s head has been dropped to look at the phone, it opens its translucent eyelid. The third eye beeps to warn the person when they are within one or two meters of an obstacle.
