- ASX SPI 200 futures up 0.6% to 6,529.00
- Dow Average up 0.2% to 31,037.68
- Aussie down 0.3% to 0.6783 per US$
- U.S. 10-year yield rose 12.3bps to 2.9280%
- Australia 3-year bond yield fell 7bps to 2.88%
- Australia 10-year bond yield fell 14bps to 3.40%
- Gold spot down 1.4% to $1,739.42
- Brent futures down 2.7% to $100.03/bbl
- 10:30am: (AU) Australia to Sell A$1.5 Billion 91-Day Bills
- 10:30am: (AU) Australia to Sell A$1 Billion 140-Day Bills
- 11:30am: (AU) May Exports MoM, est. 2%, prior 1%
- 11:30am: (AU) May Imports MoM, est. 2%, prior -1%
- 11:30am: (AU) May International Trade Balance, est. A$10.8b, prior A$10.5b
- 4:30pm: (AU) June Foreign Reserves, prior A$77.3b
Stocks in Asia look set for a steady start on Thursday as investors weigh the economic outlook and Federal Reserve minutes that highlighted the central bank’s determination tackle inflation.
Futures rose for bourses in Japan and Australia, but Hong Kong’s were little changed in the wake of a slide in US-listed Chinese equities. US futures fluctuated following a choppy Wall Street session that produced modest gains.
The minutes of the June meeting flagged the possibility of “even more restrictive” monetary policy to prevent entrenched inflation. Shorter-maturities led a slide in Treasuries that took the two-year yield to 3%.
Markets expect another 75 basis point Fed hike in July. The peak of the tightening cycle in early 2023 is now see at above 3.4% from around 3.2% earlier. The dollar pushed higher.
Inversions along the US yield curve are among the signs of concern that higher rates could spark a recession and looser policy later next year. Others include a broad retreat in commodities that’s left oil below $100 a barrel.
A baby goat who is in the running to break a world record for the longest ears stands even more of a chance as they have already grown longer in less than three weeks.
Simba was born in the middle of June in Karachi, Pakistan, with lengthy ears that stretched 19 inches.
But now, less than three weeks later, they have already grown another two inches.
Breeder Mohammad Hasan Narejo says he has approached Guinness World Records to see if his charge can be included as the Greatest Of All Time, although a category for ‘longest-eared goat’ does not currently appear on the organisation’s website.
Within 10 to 12 days of his birth he was already appearing in all the national and international media – and won a beauty contest,’ a proud Narejo says.
‘Within 30 days he became so popular that even a famous personality might take 25 to 30 years to achieve this level of fame.’
Simba’s ears are so long that Narejo has to fold them over his back to stop the little goat from standing on them.
He has also designed a harness so that Simba can carry the lengthy lobes around his neck.
Narejo is wary of the attention Simba has attracted – including from rival breeders – and has resorted to prayer and tradition to try to fend off any ill will.
‘We recite Koranic verses and blow on him to cast away the evil eye,’ Narejo said.
‘Following a long tradition we inherited from our elders, we have fastened a black thread around him that is fortified with Koranic verses.’
Narejo plans to raise Simba as a stud to promote the image of Pakistan as a top goat breeding nation.
‘Simba’s Pakistan name must roam the whole world,’ he said.
Simba’s long ears are probably the result of a gene mutation or a genetic disorder – but he appears to be getting along just fine.
Goats generally tend to have long ears, but Nubian goats, which is reportedly Simba’s breed, have the longest ears of all species.
Goat ears serve a very important purpose as they help to keep them cool in hot temperatures.
In Pakistan temperatures vary due to the varying terrain, but in summer top temperatures can hit 47C.
Luckily for Simba, temperatures tend to be significantly lower than that – but still very hot, regularly reaching mid-thirties in summer.