- ASX SPI 200 futures down 0.5% to 7,232.00
- Dow Average down 0.9% to 34,687.85
- Aussie down 0.3% to 0.7403 per US$
- U.S. 10-year yield little changed at 1.2903%
- Australia 3-year bond yield rose 0.5bps to 0.30%
- Australia 10-year bond yield fell 0.3bps to 1.28%
- Gold spot down 1.0% to $1,812.05
- Brent futures up 0.2% to $73.59/bbl
Stocks are set to start the week lower in Asia amid concerns about accelerating inflation. Oil will be in focus after OPEC and its allies reached a deal on increasing global supply.
Futures were down in Japan, Australia and Hong Kong. The S&P 500 Index fell for the first week in four. The 10-year Treasury note yield registered a third week of declines, ending below 1.3%, as the increase of more dangerous Covid-19 variants around the world raised questions about the reflation trade. Currencies were steady in early Asian trading.
Oil posted its biggest weekly loss since mid-March as markets face the prospect of extra supplies from the OPEC+ coalition. Saudi Arabia met the United Arab Emirates halfway in its demand for a more generous output limit, helping mend a rift that had rattled oil markets.
The world’s oldest whiskey distilled 250 years ago has been sold at auction for $137,000 – more than six times its initial estimate.
The Old Ingledew Whiskey was bottled in the 1860s, but the liquid inside is believed to be a century older, and once belonged to famous financier J.P. Morgan.
‘This Bourbon was probably made prior to 1865 and was in the cellars of Mr. John Pierpoint Morgan from whose estate it was acquired upon his death,’ reads a label on the back of the bottle. Auction house Skinner Inc. estimated the bottle would fetch between $20,000 and $40,000.
But the bottle was sold to The Morgan Library, a museum and research institution in midtown Manhattan, for $137,500, in an auction that ended on June 30.