Markets Overview
- ASX SPI 200 futures up 1.6% to 6,573.00
- Dow Average up 2.7% to 31,500.68
- Aussie up 0.8% to 0.6952 per US$
- U.S. 10-year yield rose 4.4bps to 3.1301%
- Australia 3-year bond yield fell 15bps to 3.20%
- Australia 10-year bond yield fell 13bps to 3.72%
- Gold spot up 0.2% to $1,826.88
- Brent futures up 2.8% to $113.12/bbl
Economic Events
- 11am: (AU) Australia to Sell A$600 Million 1.75% 2051 Bonds
Stocks may extend a rally Monday but questions abound about how long the bear market can be kept at bay amid high inflation, monetary tightening and the risk of a recession.
Treasury yields have retreated as worries about economic growth take center stage, leaving the US 10-year yield at 3.13%. Whether that marks the end of the worst Treasury bear market of the modern era is another live debate.
Other News
A Tamil Nadu man set a world record by inflating three lorry tubes using his nostrils in the time it takes trucks to refill at petrol pumps.
Nataraj, a karate instructor from Salem district in Tamil Nadu, staged the attempt for a World Talent Book of Records title ahead of International Yoga Day on June 22.
The serial record breaker inflated three lorry tubes in 9 minutes and 45 seconds to reportedly set his 98th record that was recognised by the World Talent Book of Records and earned him a certificate.
The man, who appears in record books as only Nataraj, has previously performed at 97 other challenges, including one Guinness World Records attempt.
However, inflating three tyre tubes with your nose is no breeze. Nataraj warned that performing the stunt could prove deadly should someone attempt to imitate his accomplishment without so much as expert guidance.
His time of 9 minutes, 45 seconds, is said to be the fastest for the challenge and was cheered on by spectators present at the event with officials and the police lauding the achievement.
