- ASX SPI 200 futures up 0.4% to 7,416.00
- Dow Average up 0.2% to 35,677.02
- Aussie little changed at 0.7466 per US$
- U.S. 10-year yield fell 6.9bps to 1.6324%
- Australia 3-year bond yield rose 2bps to 0.73%
- Australia 10-year bond yield rose 1bp to 1.80%
- Gold spot up 0.5% to $1,792.65
- Brent futures up 1.1% to $85.53/bbl
- 11am: (AU) Australia to Sell A$1 Billion 0.25% 2024 Bonds
Asian stocks looked set for a mixed start Monday as traders weighed elevated inflation and awaited earnings from major U.S. technology companies. Turkey’s lira fell to a record low amid a diplomatic spat.
Futures for Japan and Hong Kong fell, while Australia’s rose. U.S. equities and 10-year U.S. Treasury yields declined on Friday. Federal Reserve Chair Jerome Powell on Friday flagged inflation could stay higher for longer, making clear the central bank will begin tapering its bond purchases shortly but stay patient on raising interest rates.
Traders are monitoring an outbreak of the delta virus variant in China that is expected to worsen, as well as the wider economic challenges from a property-sector slowdown and regulatory curbs. Meanwhile, in the U.S. the five largest technology companies are set to reportearnings, testing the argument that the sector is a font of dependable revenue and profit growth.
Travel-starved, sleep-deprived residents might find a new Hong Kong bus tour to be a snooze.
The 47 mile, five hour ride on a regular double-decker bus around the territory is meant to appeal to people who are easily lulled asleep by long rides. It was inspired by the tendency of tired commuters to fall asleep on public transit.
Tickets cost between $13 to $51 per person, depending on whether they choose seats on the upper or lower deck. A goodie bag for passengers includes an eye-mask and ear plugs for better sleep.
The first “Sleeping Bus Tour” last Saturday sold out entirely. Some passengers came prepared, bringing their own blankets and changing their shoes to slippers, while others brought travel pillows.
The tendency to fall sleep on public transport is a type of conditioning, according to Dr. Shirley Li, the principal investigator of the Sleep Research Clinic and Laboratory at the University of Hong Kong.
“People in Hong Kong don’t have enough time to sleep,” Li said. “That’s why we have to kind of use other times to sleep, which is our daily commute, especially when we are travelling on public transport.”
“For some people, they may tend to associate public transport with their sleep. And that’s why they found it easier to fall asleep on the bus,” she said.”