Markets Overview
- ASX SPI 200 futures down 0.3% to 6,944.00
- Dow Average little changed at 33,336.67
- Aussie up 0.3% to 0.7107 per US$
- U.S. 10-year yield rose 10.7bps to 2.8894%
- Australia 3-year bond yield rose 1.8 bps to 3.01%
- Australia 10-year bond yield rose 4.5 bps to 3.29%
- Gold spot down 0.2% to $1,789.50
- Brent futures up 2.0% to $99.34/bbl
Economic Events
- 11:00: (AU) Australia to Sell A$700 Million 0.50% 2026 Bonds
Stocks wiped out gains on speculation the rally that followed softer inflation data went too far, with the Federal Reserve still set to keep its monetary policy tight. Bond yields climbed.
Treasuries dropped, sending 30-year yields soaring nearly 16 basis points after an auction of the securities drew middling demand despite having cheapened into the bidding deadline.
Earlier gains in stocks were driven by data showing a key measure of US producer prices unexpectedly slipped for the first time in more than two years. Similar to the consumer prices report on Wednesday, both the overall and core figures were softer than forecast. Even so, inflation remains stubbornly high and will likely keep the Fed on an aggressive path to curb it.
Swaps continued to price in a 50-basis-point rate hike by the US central bank in September.
Other News
A woman from Maryland, USA, broke a Guinness World Record when she lifted an incredible total of 1,620.4 pounds or 735 kg at a weightlifting competition in Virginia.
Tamara Walcott broke the record for the heaviest cumulative lift for bench/squat and press (female) at the 2022 World Raw Powerlifting Federation American Pro in Manassas, according to Guinness World Records.
The athlete said she started out lifting weights four years ago to shed some pounds and stay fit.
After her successful world record attempt, she said she hopes her achievement would inspire others to try powerlifting.
