Markets Overview

  • ASX SPI 200 futures little changed at 7,506.00
  • Dow Average down 0.1% to 34,411.69
  • Aussie down 0.6% to 0.7351 per US$
  • U.S. 10-year yield rose 2.6bps to 2.8527%
  • Australia 3-year bond yield little changed at 2.37%
  • Australia 10-year bond yield little changed at 2.97%
  • Gold spot little changed at $1,978.63
  • Brent futures up 0.8% to $112.59/bbl

Economic Events

  • 11:30am: (AU) RBA-Minutes

Stocks in Asia look set for a steady start Tuesday with investors weighing the prospect for faster Federal Reserve policy tightening, and the impact on global growth and inflation from the war in Ukraine.

Treasuries ticked lower at the long end, with the 10-year yield above 2.8%. St. Louis Fed President James Bullard said that interest rate increases of 75 basis points — while not the base case — shouldn’t be ruled out as the central banks needs to move quickly to combat inflation. The dollar gained, while the yen is in the midst of a multi-decade losing streak.

Treasury yields are around the highest in more than three years as investors debate whether inflation is peaking. Disruptions to supply chains from China’s lockdowns and to commodity flows from the war are keeping upward pressures on prices at a time when global growth is tipped to slow. The World Bank cutits forecast for global economic expansion this year on Russia’s invasion of Ukraine.

Other News

There was no way home for Ramiro Alanis who watched the superhero film starring Tom Holland, Zendaya, Andrew Garfield and Tobey Macguire an impressive 292 times at the movie theatre in the period between 16 December 2021 and 15 March 2022 to earn the Guinness World Record title. This means in total Alanis has spent 720 hours, or 30 days watching the 2hr 28-minute movie (including the credits), not to mention around $3,400 on tickets – now you would definitely need a lot of popcorn to sit through all those screenings.