Markets Overview

  • ASX SPI 200 futures down 1.4% to 7,004.00
  • Dow Average down 2.0% to 32,245.70
  • Aussie down 1.8% to 0.6947 per US$
  • U.S. 10-year yield fell 9.6bps to 3.0338%
  • Australia 3-year bond yield rose 2bps to 3.04%
  • Australia 10-year bond yield rose 9bps to 3.56%
  • Gold spot down 1.6% to $1,853.99
  • Brent futures down 6.5% to $105.07/bbl

Economic Events

  • 9am: (AU) April CBA Household Spending MoM, prior 9.2%
  • 9am: (AU) April CBA Household Spending YoY, prior 5.7%
  • 9:30am: (AU) May ANZ Roy Morgan Weekly Consumer, prior 90.7
  • 11:30am: (AU) 1Q Retail Sales Ex Inflation QoQ, est. 1.0%, prior 8.2%
  • 11:30am: (AU) April NAB Business Confidence, prior 16
  • 11:30am: (AU) April NAB Business Conditions, prior 18

Stocks tumbled to a 13-month low in a widespread selloff amid concern about the Federal Reserve’s ability to tame inflationary spirals without throwing the economy into a recession.

The slide in the S&P 500 topped 3%, while the Treasury curve steepened, with the gap between two- and 30-year rates hitting the widest since mid-March as short-dated bonds led the gains. Investors are increasingly worried about the limits to Fed policy at a time when supply-chain disruptions pose a significant threat to inflation amid a ravaging war in Ukraine and China’s Covid lockdowns. Data Monday showed U.S. consumers project prices in three years to be higher compared with a month ago — a troubling sign for officials trying to keep longer-term expectations anchored.

Other News

Guinness World Records has crowned a new pup that stands over 3 feet tall as the world’s tallest living dog.

Zeus, a 2-year old American Great Dane from Texas, is owned by Brittany Davis who got her “fur-ever” friend when he was 8-weeks-old, according to Guinness.

“He’s been a big dog since we got him, even for a puppy. He had huge paws,” Davis told the outlet.

Davis said Zeus, who is 3-feet-tall and 5.18 inches, takes comfort in walking around the neighborhood with his human brother and sleeping by his window. He’s also famous at the Dallas Farmer’s Market.

“The comment that we hear most often is ‘Wow, that’s a horse!,’ ‘Can I ride him?’ or ‘Does he have a saddle?’” she told Guinness.

“The answer to all those questions is ‘no.’”

Zeus lives with three other miniature Australian Shepherd siblings. Even though he towers over them, they love to wrestle, according to Guinness.

“This has been a whirlwind and unexpected. We never thought we would own the largest living dog,” Davis told Guinness.

According to American Kennel Club, Great Danes live between 8 to 10 years.

Davis told Guinness that vets are amazed at Zeus’ health. His secret? Eating six cups of large breed dog food every day.

The tallest dog ever was also a Great Dane named Zeus, according to Guinness. He stood over seven feet when standing on his hind legs.