Markets Overview
- ASX SPI 200 futures down 0.8% to 7,265.00
- Dow Average down 1.2% to 32,406.47
- Aussie little changed at 0.6588 per US$
- U.S. 10-year yield fell 6.9bps to 3.9247%
- Australia 3-year bond yield fell 3 bps to 3.44%
- Australia 10-year bond yield fell 3.6 bps to 3.71%
- Gold spot up 1.0% to $1,831.04
- Brent futures down 1.4% to $81.54/bbl
Economic Events
US stocks notched their worst day in two weeks after a rout in bank shares picked up steam on concerns pockets of trouble in the sector could portend broader dangers. Treasuries rallied.
The S&P 500 fell to the lowest since Jan. 19 with financial companies in the index plunging more than 4%. The KBW Bank Index, which includes regional lenders, plunged 7.7%. Banks came under fire after Silvergate Capital Corp. collapsed overnight amid growing scrutiny in Washington. SVB Financial Group plummeted by a record amount following a stock sale to shore up losses.
Stocks erased early session gains after Thursday’s data showed weekly jobless claims had risen to 211,000 during the week ending March 4, ahead of expectations for 195,000 and marking the first time claims surpassed 200,000 since early January.
The numbers set the stage for Friday’s monthly jobs report, with even just slightly stronger-than-forecast figures expected to cement bets for a bigger hike at the March 21-22 Fed meeting. Economists project a 225,000 increase in February payrolls, about half January’s blockbuster pace, but a figure in that range would confirm the US economy continues to add jobs at a strong rate.
A softer-than expected number could soften wagers on a half-point move in March, and tilt expectations back to a quarter-point hike.
Two-year yields’ premium over their 10-year equivalent narrowed to around 97 basis points, having surpassed 110 basis points earlier this week. The inversion is considered a reliable recession harbinger.
Other News
Sleep-deprived Brits would be willing to spend up to £288 a year – in a bid to stop themselves or their partner from snoring, a study has found.
Sleeping on extra pillows, drinking water before bed, and using nasal strips, dilators, or spray, are the top steps that over half (54%) of desperate Brits have taken to try to eliminate their night-time noise.
More than one in six (17%) have even sought medical advice from professionals – and 29% said they would consider surgery if it meant a silent night.
The poll of 2,000 adults found that 56% either snore, or have a partner who does – and 44% would do anything to try to put a stop to the habit.
Other unusual steps they have tried include sleeping sitting up, taping their mouth, putting a peg on their nose – and putting a tennis ball inside their pyjamas to prevent them from lying on their back.
These measures cost them an average of £33.20 a year, the study found.
Steve Smith, UK Director of www.mutesnoring.com, which commissioned the research executed in partnership with WebMD as part of its 2023 Annual Sleep and Snore Report, said: “Snoring can be disruptive, and people are willing to give pretty much anything a go to put a stop to it.
“And while some of these are fairly routine hacks, there are some more unusual things being put to the test.
“While things like using extra pillows, humidifiers, and opening up the airways can all help with snoring, things like having a hot shower before bed, sleeping upside down in the bed, and wearing an eye mask, aren’t likely to help that much.
“Whether you are the snorer, or the person who has to put up with the noise from a partner, it can have a huge impact on your sleep, relationship, and life generally.
“As a result, there are some who are willing to do whatever it takes to put a stop to it.”
The study also found that 13% have resorted to sleeping tablets to ward off snoring.
And when it comes to alcohol, opinions are mixed regarding its effect on snoring – with some avoiding alcohol before bed (9%), or even at all (8%), while one in twenty (5%) swear by a tipple before nodding off to stop them from snoring.
Two in five couples (39%) have ended up sleeping in separate bedrooms – and for 11%, it has got so bad, they have had a relationship end because of one of them snoring.
The study, carried out via OnePoll, also found that in a bid to stop snoring, 28% have turned to the internet for advice, while 18% have gone to friends and family.
However, 61% admitted they have simply come to accept that it’s never going to go away.
It also emerged those classed as obese are more likely to be snorers (58%) than those who have an underweight (23%) or healthy (26%) BMI.And 38% of men snore, compared to 32% of women.
Steve Smith, for www.mutesnoring.com, added: “Snoring doesn’t have to be something you simply put up with.
“With sound strategies, you really can reduce or even eliminate the snoring noise in your bedroom – and not surprisingly, improving your nasal breathing is one of the best things snorers can do.”
(Daily Mirror)
