Markets Overview

  • ASX SPI 200 futures down 0.2% to 7,467.00
  • Dow Average down 0.2% to 36,713.26
  • Aussie up 0.1% to 0.7244 per US$
  • U.S. 10-year yield rose 4.6bps to 1.6929%
  • Australia 3-year bond yield rose 0.5bps to 1.15%
  • Australia 10-year bond yield rose 4bps to 1.79%
  • Gold spot up 0.3% to $1,819.70
  • Brent futures up 1.0% to $80.79/bbl

Economic Events

  • 9am: (AU) Dec. Markit Australia PMI Composite, prior 54.9
  • 9am: (AU) Dec. Markit Australia PMI Services, prior 55.1

U.S. equities deepened losses after minutes from the Federal Reserve flagged the chance of earlier and faster interest rate hikes.

The S&P 500 fell 1.9%, led by losses in real estate, while the Nasdaq 100 shed 3.1% as traders increased conviction the U.S. central bank will increase rates at least three times this year. The 10-year Treasury yield climbed to 1.71% the highest since April. The dollar was little changed.

Technology stocks plunged for a second day as rising Treasury yields added to growth concerns. Earlier in the session, the tech rout spread to Asia, with a gauge of Chinese names listed in Hong Kong at a six-year low. However, Europe was mostly spared, with the Stoxx Europe 600 drifting to a record.

Other News

Atlantis, The Palm and Moet & Chandon are toasting being awarded the Guinness World Record for the world’s largest drinking glass pyramid.
A grand total of 54,740 Champagne coupes were stacked atop one another by a steady-handed team of six from the Dutch company Luuk Broos Events to form a 27ft- (8.23m) high pyramid in the Dubai hotel. Moet & Chandon Champagne was then poured over the glittering tower, filling the glasses.
The feat beat Luuk Broos Events’ own record of 50,116 glasses, set in Madrid in 2017.

The Guinness World Record attempt was organised by Moet & Chandon as part of its series of Champagne-themed ’Effervescence’ events, which were held in over 20 cities around the world throughout 2021.
The glass tower remained in place until January 1, remaining intact for the hotel’s annual New Year’s Eve Gala Dinner, which featured a guest performance by singer Robbie Williams.