Markets Overview

  • ASX SPI 200 futures up 1.4% to 6,868.00
  • Dow Average up 2.6% to 32,861.80
  • Aussie down 0.8% to 0.6398 per US$
  • U.S. 10-year yield rose 9.6bps to 4.0123%
  • Australia 3-year bond yield fell 9 bps to 3.28%
  • Australia 10-year bond yield fell 9.5 bps to 3.74%
  • Gold spot down 1.1% to $1,644.86
  • Brent futures down 1.2% to $95.77/bbl

Economic Events

  • 11:00: (AU) Oct. Melbourne Institute Inflation, prior 0.5%
  • 11:00: (AU) Oct. Melbourne Institute Inflation, prior 5.0%
  • 11:30: (AU) Sept. Private Sector Credit YoY, est. 9.4%, prior 9.3%
  • 11:30: (AU) Sept. Private Sector Credit MoM, est. 0.7%, prior 0.8%
  • 11:30: (AU) Sept. Retail Sales MoM, est. 0.4%, prior 0.6%

The dollar rose while Asian equity futures pointed to gains in the region’s stocks at the start of a pivotal week for markets that will see interest rate decisions from central banks including the Federal Reserve.

Government bond yields in Europe and the US climbed Friday amid concern that inflation will delay any shift by policy makers to slow aggressive rate hikes. A core gauge of US inflation accelerated in September, bolstering the case for another jumbo 75-basis-points move.

Economists surveyed by Bloomberg expect Fed officials will maintain their hawkish stance, laying the groundwork for interest rates reaching 5% by March 2023, potentially leading to a US and global recession.

Still, Apple Inc.’s earnings report buoyed technology shares, helping the S&P 500 and the Nasdaq 100 notch their longest weekly rising streak since August.

Traders in Asia will also be watching for China’s official PMIs this session, which are projected to show a recovery struggling to gain traction. Meanwhile, markets for wheat and corn may be spooked after Russia pulled out of a key agreement to allow Ukrainian crop shipments.

Other News

As golf nuts go, Nolan Krentz has to qualify as extra nutty. To put it in candy bar terms, his nut level would be somewhere between a Snickers and an Oh Henry!

Krentz, a member at Norsk Golf Club in Mt. Horeb, Wisconsin, is credited with playing 17,820 holes of golf last year, which is a record, or the equivalent of 990 18-hole rounds. As of October, he’s on pace to surpass that total and is shooting for 18,000 holes.

In 2020, Krentz logged 17,766 holes. Last year, he beat that total by 54 holes, racking up an average of 48.82 per day, and playing his final round on Dec. 26.

The record of 17,820 holes is technically an unofficial world record. Guinness Book of World Records still counts the 14,625 holes played by Chris Adams of Canada in 2012 as the record. Guinness requires a logbook and witnesses for every round.