Markets Overview

  • ASX SPI 200 futures little changed at 7,154.00
  • Dow Average up 0.1% to 33,585.18
  • Aussie up 0.8% to 0.6756 per US$
  • U.S. 10-year yield fell 3.9bps to 3.8143%
  • Australia 3-year bond yield rose 2.5 bps to 3.29%
  • Australia 10-year bond yield fell 0.5 bps to 3.76%
  • Gold spot up 0.2% to $1,774.57
  • Brent futures up 0.7% to $93.78/bbl

Economic Events

  • 10:30: (AU) Oct. Westpac Leading Index MoM, prior -0.04%
  • 11:00: (AU) Australia to Sell A$900 Million 3% 2033 Bonds
  • 11:30: (AU) 3Q Wage Price Index QoQ, est. 0.9%, prior 0.7%
  • 11:30: (AU) 3Q Wage Price Index YoY, est. 3.0%, prior 2.6%

Australian Prime Minister Anthony Albanese hailed a meeting with Chinese President Xi Jinping as a move toward normalizing ties that have spiraled in recent years. Economists predict government data Wednesday will show Australia’s Wage Price Index advanced 3% in the third quarter from a year earlier, the fastest pace since the first three months of 2013.

US stocks rose as fresh data added to evidence inflation may have peaked, strengthening the case for the Federal Reserve to moderate its pace of interest-rate hikes. Treasuries also ended Tuesday higher while the dollar fell.

Other News

As many as 40,000 mink were released from their cages at a mink farm in northwest Ohio overnight Monday, police say.

Suspects destroyed fencing at Lion Farms USA Mink Farm in Hoaglin Township and released 25,000 to 40,000 mink from their cages at the farm, Van Wert County Sheriff Thomas Riggenbach said in a news release posted on the office’s Facebook page Tuesday.

The incident, which is being considered a breaking-and-entering crime or vandalism, remains under investigation, Riggenbach said. But the office posted the information about the freed mink as soon as possible early Tuesday “to notify our communities what was going on,” Riggenbach told USA TODAY. “So they could start making informed decisions and understand what had taken place.”

He warned local farmers and residents about the danger posed to the area by the animals, which were being raised for fur at the farm in northwest Ohio about 35 miles east of Fort Wayne, Indiana.

Mink, which resemble ferrets and weasels, are not considered dangerous wild animals, the Ohio Department of Agriculture said. But the department advises people in the area to keep a close eye on backyard poultry and livestock.

In the wild, mink eat everything from frogs and fish to mice and rabbits. Owners of pets and livestock should be aware, the sheriff’s office release said. “Minks are carnivorous mammals that stick to a diet consisting of fresh kills,” the release read.

“They regularly hunt prey bigger than themselves. As a result, they can be a bothersome pest for homeowners, livestock owners, and property managers. Minks have proven to be especially costly and problematic for poultry ranchers as well as homeowners with ornamental ponds filled with koi and other fish.”

(USA Today)