Markets Overview
- ASX SPI 200 futures little changed at 6,847.00
- Dow Average up 0.6% to 31,774.52
- Aussie down 0.3% to 0.6750 per US$
- U.S. 10-year yield rose 5.4bps to 3.3170%
- Australia 3-year bond yield fell 16 bps to 3.10%
- Australia 10-year bond yield fell 14 bps to 3.57%
- Gold spot down 0.6% to $1,708.63
- Brent futures up 0.4% to $88.31/bbl
Economic Events
Volatility gripped the stock market as unsurprising remarks from Jerome Powell and his colleagues did little to alter bets on another super-sized rate hike during the Federal Reserve’s September gathering.
In the final 15 minutes of trading, the S&P 500 extended its advance to close above 4,000 for the first time since late August — pushing further away from a level seen by chartists as critical for short-term direction.
A selloff in Treasuries sent the yield on the policy-sensitive two-year note up eight basis points to 3.51%. Swap traders priced a roughly four-in-five chance that Fed officials will implement a 75-basis-point hike this month.
Other News
There was quite a “hairy” situation at the U.S. Open on Tuesday night, as two men’s stay in the Arthur Ashe Stadium seats was cut short after one buzzed the other’s head in the stands during the quarterfinals. They had clippers and the sort of cape a barber usually uses to keep a customer clean.
Tournament security removed the two from the match.
“When someone saw it, security went to the two individuals. They were escorted out of their seats and then off the grounds for disruption of play,” U.S. Tennis Association Brendan McIntyre said, adding: “There’s a first time time for anything.”
The incident came during the quarterfinal battle between Nick Kyrgios and Karen Khachanov, a more than three-hour long match that ended with Khachanov winning 7-5, 4-6, 7-5, 6-7, 6-4.
(CBS News)
