Markets Overview

  • ASX SPI 200 futures up 0.3% to 6,996.00
  • Dow Average up 0.4% to 33,912.44
  • Aussie down 1.4% to 0.7023 per US$
  • U.S. 10-year yield fell 4.6bps to 2.7860%
  • Australia 3-year bond yield fell 4.8 bps to 3.05%
  • Australia 10-year bond yield fell 6.4 bps to 3.36%
  • Gold spot down 1.3% to $1,779.43
  • Brent futures down 4.8% to $93.46/bbl

Economic Events

  • 09:00: (AU) July CBA Household Spending MoM, prior 0.9%
  • 09:00: (AU) July CBA Household Spending YoY, prior 11.9%
  • 11:30: (AU) RBA Minutes of Aug. Policy Meeting

Stocks in Asia are set for a cautious open on Tuesday as mounting signs of a sharp economic slowdown filter across global markets, supporting the dollar and bonds while depressing commodity prices.

Futures pointed to muted starts for bourses in Japan, Australia and Hong Kong. Tech firms such as Tesla Inc. and Apple Inc. helped the S&P 500 to close up on Monday. US contracts fluctuated in early Asian trading.

The dollar rallied, while currencies including the offshore yuan are nursing losses. Commodities retreated, leaving oil below $90 a barrel. Treasuriespushed higher, lowering the US 10-year yield to 2.79%.

Global equities seem to be focusing on the prospect of slower economic activity restraining high inflation and opening the way for less aggressive monetary tightening. The danger for the bounce from bear-market lows lies in the possibility of recession in a range of economies.

Other News

United States: A California man ate 17 ghost peppers in one minute to earn a Guinness World Record.

Also known as the ghost pepper, it is primarily grown in northeast India and was certified as the world’s hottest chilli pepper by Guinness World Records in 2007.

400 times hotter than Tabasco sauce and the mildest jalapenos, the most average specimen records an insane 1,041,427 Scoville Heat Units – and yet, it only took Foster a minute to down 17 of these.

The Californian is a true chilli connoisseur, having previously broken the Guinness World Record for the fastest time to eat three Carolina reaper chilli peppers — officially the hottest chilli peppers in the world.