Markets Overview

  • ASX SPI 200 futures up 0.4% to 7,343.00
  • Dow Average up 0.7% to 34,781.45
  • Aussie up 0.9% to 0.7466 per US$
  • U.S. 10-year yield rose 8.9bps to 2.3807%
  • Australia 3-year bond yield rose 19bps to 2.14%
  • Australia 10-year bond yield rose 14bps to 2.72%
  • Gold spot down 0.7% to $1,922.16
  • Brent futures down 0.3% to $115.28/bbl

Economic Events

  • 11am: (AU) Australia to Sell A$1 Billion 1% 2031 Bonds
  • The Australian government announced it will cut red tape and simplify tax reporting requirements for small businesses in next week’s budget, saving them an estimated A$800 million a year.

U.S. stocks rebounded while the selloff in Treasuries deepened Tuesday as trader weighed hawkish comments by Federal Reserve Chair Jerome Powell, which signaled the central bank will take more aggressive measures to tame inflation.

The S&P 500 gained, recovering half its losses now from a selloff that started in January. Meanwhile, bond yields continued their ascent as short-dated Treasuries hurtled toward their worst quarterly performance in almost four decades.

Other News

Russia has deployed a doe-eyed Husky, a fearless Collie and a pirouetting Beagle to help it fight Russophobia generated by Vladimir Putin’s invasion of Ukraine.

In an English-language video released through Russian government social media channels, a “dog party” in a large detached house, labelled as 24 Abbey Road, is in full swing. Young people browse photos on their smartphones, play Jenga and admire their pampered pets.

But two unwanted guests – a man with big hair and an easy smile, and his Siberian Husky called Sandy – are about to disturb the harmony.

They want to join the party and ring the front doorbell. The woman host answers and flashes a smile but as soon as the man says that his dog is Siberian, the music stops, the Jenga tower topples over and people stare, alarmed.

This is the cold-shouldered reaction that Russians have increasingly reported receiving abroad since Putin’s invasion of Ukraine on February 24. Some shops and hotels in central Europe are refusing to serve Russians and some people speaking Russian have been shouted at and attacked.

And the Kremlin is hoping that the video of the “dog party” helps counter this sentiment.

Having discovered that she is dealing with a dog from Russia, the party host in the video takes a moment to compose herself.

“A Siberian Husky? And you’re here with him?” she says to the man before shutting the door. “Sorry, there is no place for y’all.”

Relieved that the danger has passed, the party guests get back to their idle chatter and fun-making.

“Are you okay?” one of the guests says. “Everything’s alright? Yes?” says another.

The dogs, though, are wiser and more gracious than their owners.

They start to whine and cry until a fluffy miniature Collie – closely followed by another Collie, a Corgi, a Beagle and a French Bulldog – makes a break for it and runs out of an open door.

Snow lies thick on the ground outside the house in what looks suspiciously like a Russian winter’s day.
“Stop! Han! He’s dangerous” one woman shouts. “He’s Russian!”

But the Collie ignores her and instead bounds up to the Siberian Husky and his owner.

Upbeat music cuts in, smiles break out, the man ruffles lots of dog fur and the Beagle, grinning into the camera, pirouettes.

With that, the 2-minute long video ends with the message: “Boundaries are in human heads. Stop spreading hate. #StopHatingRussians.”