Markets Overview

  • ASX SPI 200 futures down 0.9% to 7,182.00
  • Dow Average down 0.9% to 34,006.91
  • Aussie up 0.4% to 0.7288 per US$
  • U.S. 10-year yield rose 2.1bps to 1.4824%
  • Australia 3-year bond yield rose 2bps to 0.33%
  • Australia 10-year bond yield little changed at 1.49%
  • Gold spot up 0.4% to $1,768.14
  • Brent futures up 2.5% to $81.25/bbl

Economic Events

  • 9am: (AU) Sept. Markit Australia PMI Composite, prior 46.0
  • 9am: (AU) Sept. Markit Australia PMI Services, prior 44.9
  • 9:30am: (AU) Oct. ANZ Roy Morgan Weekly Consumer, prior 103.7
  • 11:30am: (AU) Sept. ANZ Job Advertisements MoM, prior -2.5%
  • 11:30am: (AU) Aug. Retail Sales MoM, est. -1.7%, prior -1.7%
  • 11:30am: (AU) Aug. International Trade Balance, est. A$10.1b, prior A$12.1b
  • 11:30am: (AU) Aug. Exports MoM, est. -3%, prior 5%
  • 11:30am: (AU) Aug. Imports MoM, est. 1%, prior 3%
  • 2:30pm: (AU) Oct. RBA 3-Yr Yield Target, est. 0.10%, prior 0.10%
  • 2:30pm: (AU) Oct. RBA Cash Rate Target, est. 0.10%, prior 0.10%

Global markets have taken a risk-off turn amid a growing list of worries, just as investors have been bracing for the Federal Reserveto begin tapering stimulus as early as next month. Higher inflation and Treasury yields make the premium investors pay for high-growth stocks less attractive. The risk to earnings may also be higher for some tech companies.

Other News

A South Korean man has been barraged by thousands of phone calls after his number appeared in the new Netflix hit “Squid Game” — and the annoyance could get him a pile of cash. The unnamed man was offered $85,000 by presidential candidate Huh Kyung-young in exchange for his number, which is getting about 4,000 rings a day, the South China Morning Post reported. The man reportedly shares the digits with a number handed out to survival game contestants on the fictional show, which executives predict will be the streaming service’s “biggest show ever.” The Korean language dystopian series pits poor people against each other in a battle to the death, and is already an international smash hit. Some 14 billion videos with the hashtag #SquidGame have been posted to TikTok since it’s Sept. 17 debut. It’s unclear if the famous phone number owner will ink the deal with the Korean pol.