Markets Overview

  • ASX SPI 200 futures up 0.5% to 6,754.00
  • Dow Average up 1.4% to 31,581.28
  • Aussie up 0.5% to 0.6769 per US$
  • U.S. 10-year yield fell 8.5bps to 3.2635%
  • Australia 3-year bond yield rose 3 bps to 3.26%
  • Australia 10-year bond yield rose 5.5 bps to 3.71%
  • Gold spot up 1.0% to $1,718.55
  • Brent futures down 5.5% to $87.69/bbl

Economic Events

  • 10:30: (AU) Australia to Sell A$500 Million 63-Day Bills
  • 10:30: (AU) Australia to Sell A$1 Billion 140-Day Bills
  • 10:30: (AU) Australia to Sell A$500 Million 154-Day Bills
  • 11:30: (AU) July International Trade Balance, est. A$14.7b, prior A$17.7b
  • 11:30: (AU) July Exports MoM, est. -8%, prior 5%
  • 11:30: (AU) July Imports MoM, est. 0%, prior 1%
  • 13:05: (AU) RBA Governor Lowe-Speech

Stocks climbed the most in about a month as Treasury yields halted a surge to multiyear highs, with traders sifting through remarks from a slew of Federal Reserve speakers. Oil plunged, easing concern about price pressures that could imperil the central bank’s war against inflation.

About 95% of the companies in the S&P 500 moved higher, with every group but energy ending in the green. Only four of the Nasdaq 100’s members fell as a rally in the tech-heavy gauge topped 2%. Apple Inc. rose after unveiling a new lineup of devices with few surprises beyond one major one: It didn’t raise its US prices during one of the worst years for inflation in decades.

Oil benchmarks took a hit as demand concerns emanating from China prompted a wave of selling as prices breached technical warning levels. West Texas Intermediate settled below $82 a barrel while Brent closed at $88. The dollar fell after a rally that rattled currencies around the globe and briefly drove gold below the “danger zone” of $1,700 per ounce.

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A tiny town in regional Queensland is fighting off a horde of kangaroos, with locals saying there are simply “too many too count”.

Maaroom, perched just south of Hervey Bay, is home to just 219 people — and a seemingly endless population of roos.

Residents say they have been walking around with sticks to fend off the feisty marsupials, who they fear will pounce on unsuspecting victims.

“They’re constantly hopping around the park in between caravans,” Caravan Park manager Karen Sutcliffe told the ABC. “People are walking around with a big stick now. I‘ve been wanting to go fishing of an afternoon but I won’t do that, just in case a kangaroo gets me.

“They‘re just so quick you don’t know where they are.”

Local Mark Sidaway said the recent spout of torrential rain had ballooned the kangaroo population in the region.

“The last couple of years we‘ve had La Niña where we get a lot more rain and conditions are conducive to grass growing and we all manage our lawns very well,” he said.

“Some people are very good mowers and they keep it shorter, which means fewer kangaroos in your yard, and if you don‘t mow as regularly, you’re going to get big herds coming into your yard.

“They‘ve multiplied because we have provided a Sizzler smorgasbord for them.

“Hopefully people get the message and stop mistreating them and maybe the other person walking down the street doesn‘t get belted.”

DES manager for southern wildlife operations Frank Mills said Maaroom is facing a somewhat unique scenario, revealing a number of attacks had been by female kangaroos which are known to be less aggressive.

“While there actually are quite a few attacks with kangaroos in Queensland, mostly they’re dealing with male kangaroos and it’s usually a territorial or a mating display,” Mr Mills said.

“All of these issues have been with female kangaroos with a joey at foot.

“We‘ve counted more than 60 to 80 kangaroos on any given day within the town itself and the local forests that surround that wouldn’t support that many kangaroos.”

Mr Mills warned residents against feeding their feisty neighbours.

“This can have a negative effect and actually encourage them to get closer to humans,” he said.

“The other thing that we‘ve had reported is that there are other people in the town who are potentially using things like gel blasters to discourage kangaroos.

“That can have a negative effect on how those animals feel about humans and it may make them more aggressive.”