Markets Overview
- ASX SPI 200 futures little changed at 7,239.00
- Dow Average up 0.2% to 34,987.02
- Aussie down 0.8% to 0.7420 per US$
- U.S. 10-year yield fell 4.9bps to 1.2972%
- Australia 3-year bond yield fell 3bps to 0.29%
- Australia 10-year bond yield fell 5bps to 1.29%
- Gold spot up 0.1% to $1,829.56
- Brent futures down 2.0% to $73.27/bbl
Economic Events
- 11am: (AU) Australia to Sell A$700 Million 0.25% 2025 Bonds
Asian stocks look set to follow U.S. shares lower Friday after concerns about the economic growth outlook came to the fore. Treasury yields retreated and the dollar climbed.
Equity futures fell in Japan and Hong Kong and were steady in Australia. Energy and technology sectors led Wall Street lower, including a decline in growth favorites like Amazon.com Inc. and Google parent Alphabet Inc. U.S. contracts slipped in early trading.
Federal Reserve Chair Jerome Powell overnight defended the central bank’s accommodative stance in the face of uncomfortably high inflation. Officials expect a transient surge in price pressures amid the reopening from the pandemic, but some others fear stickier inflation that could hurt the economic outlook. The 10-year Treasury yield slid, set for a third weekly retreat.
Other News
An iconic New York City restaurant has a way to solve to your French fry craving in a world record-breaking way. Serendipity3, located in the city’s Upper East Side, set a Guinness World Records title for making the most expensive fries ever. Created by the restaurant’s creative director and chef Joe Calderone and corporate executive chef Frederick Schoen-Kiewert, the “Creme de la Creme Pommes Frites” cost an outstanding $200.
The fries, which are made from Chipperbeck potatoes, are first blanched in Dom Perignon Champagne and J. LeBlanc French Champagne Ardenne Vinegar before being cooked three times in pure goose fat from Southwest France. After they are cooked, the fries are seasoned with Guerande truffle salt, which is hand-harvested from Guerande, France, and then tossed in Urbani summer truffle oil. They are then topped with shaved pecorino tartufello cheese that is made of milk from sheep on the clay-rich hills of the Italian region of Crete Senesi. The fries are also topped with shaved black summer truffles from Umbria, Italy. Served on a Baccarat crystal Arabesque plate, the fries are finally finished with 23K edible gold dust and a Mornay sauce on the side that is made with cream from A2 grass-fed Jersey cow and 3-month aged gruyere truffled Swiss raclette. Served on a Baccarat crystal Arabesque plate, the fries are finally finished with 23K edible gold dust and a Mornay sauce on the side that is made with cream from A2 grass-fed Jersey cow and 3-month aged gruyere truffled Swiss raclette.
