Markets Overview

  • ASX SPI 200 futures up 0.4% to 7,252.00
  • Dow Average little changed at 34,292.29
  • Aussie down 0.7% to 0.7514 per US$
  • U.S. 10-year yield little changed at 1.4714%
  • Australia 3-year bond yield fell 2bps to 0.41%
  • Australia 10-year bond yield fell 5bps to 1.54%
  • Gold spot down 0.9% to $1,761.73
  • Brent futures up 0.4% to $74.99/bbl

Economic Events

  • 11:30am: (AU) May Private Sector Credit MoM, est. 0.3%, prior 0.2%
  • 11:30am: (AU) May Private Sector Credit YoY, est. 1.6%, prior 1.3%

Asian stocks are set for a steady start Wednesday after U.S. shares edged up to a record on economic optimism and signs that vaccines can counter a highly infectious coronavirus strain. The dollar climbed.
Futures rose in Japan, Australia and Hong Kong, while U.S. contracts were slightly higher. The S&P 500 Index eked out a gain and is on track for a fifth monthly advance, the longest run since August. Technology and retail firms rose, while financials lagged. Moderna Inc. said its vaccine produced protective antibodies against the delta strain, which has spread around the world since emerging in India.

Other News

It was trialled on otherwise-healthy obese participants, who claimed the device was “hard to use”, causing discomfort with their speech
While there are many sure-shot ways of losing weight, there isn’t any like this bizarre invention. A new tool has been making news for some time now for its oddity, which ensures a person’s mouth remains shut so they do not get to stuff enough food and, therefore, reduce the risk of turning obese.
According to a report in The Guardian, the new weight-loss tool uses magnets to stop people from opening their mouths wide enough to eat solid food. Developed by medical professionals from the University of Otago in New Zealand and scientists from Leeds in the UK, the device can be placed by dentists inside the mouth. It comprises magnetic components with locking bolts.
Called ‘DentalSlim Diet Control’, it allows users to open their mouths only 2mm wide. It was initially trialled on seven otherwise-healthy obese women from Dunedin in New Zealand for two weeks. They were given a low-calorie liquid diet, and according to an article published in the British Dental Journal, the group lost 6.36 kg, or about 5.1 per cent of their body weight.
The participants also alleged the device was “hard to use”, causing discomfort with their speech. They also reportedly felt tense and that “life, in general, was less satisfying”.