- ASX SPI 200 futures little changed at 7,168.00
- Dow Average down 0.6% to 34,577.37
- Aussie down 0.5% to 0.7495 per US$
- U.S. 10-year yield fell 7.5bps to 1.3498%
- Australia 3-year bond yield rose 8bps to 0.45%
- Australia 10-year bond yield rose 4bps to 1.47%
- Gold spot up 0.3% to $1,796.99
- Brent futures down 3.0% to $74.86/bbl
- 11am: (AU) Australia to Sell A$1 Billion 1.5% 2031 Bonds
- 4:30pm: (AU) June Foreign Reserves, prior A$62.1b
Asian stocks look set to fall Wednesday after U.S. shares snapped a winning streak and Treasury yields retreated amid concerns about the economic outlook and risks from Covid-19 variants. The dollar firmed.
Futures dropped in Japan, Australia and Hong Kong. The S&P 500 dipped from a record, led by the energy and financial sectors, while Amazon.com Inc. helped take the Nasdaq 100 to a fresh peak. Ten-year U.S. Treasury yields hit February lows, sapped by slower than expected expansion in service sectors.
HONG KONG — How do you get all the cool kids excited about the 100th birthday of China’s Communist Party?
Somebody’s idea was squeezing 100 Chinese rap and hip-hop groups onto a 15-minute track, which, naturally, celebrates China’s achievements and disses its haters.
“We got money in the bank, our brothers are the most lit,” goes one line that segues into an English-language chorus, “China rising.”
Yet even among the party loyal, it sank. The heavily autotuned number vanished in a cloud of disdain days before Thursday’s centennial. “I can only suffer once,” one listener posted on social media.