FPG Overnight Headlines 21/9/2022

Overnight headlines

The US 10-year note’s yield increased by 7 basis points to 3.56 percent. The yield on two years was 3.95 percent.

All three of the key Wall Street benchmarks finished lower, albeit off their session lows. The Dow dropped 330 points to close at 30,706 after briefly falling by 550 points. The S&P 500 was anticipated to close at or near 3856.

The S&P 500’s 11 industry groupings all had declines, led by the real estate sector. With a 0.5% decline, information technology had the best performance.

Market movements

• Down 0.5% to 66.92 US cents for AUD
• Bitcoin fell by 2.9% to US$18,996
• S&P -1.1%, Dow -1% on Wall Street -1% Nasdaq
• Stoxx 50 fell by 0.9% in Europe. FTSE -0.6% CAC -1.4% DAX -1%
• Spot gold decreased 0.7% to $1664.07/oz
• Brent crude dropped by 1.6% to $US90.55 per barrel
• The US 10-year yield is 3.56%, Australia is 3.63%, Germany is 1.92%

Today’s agenda

Local: Leading Westpac Index RBA Deputy Governor Michele Bullock will speak in Sydney at noon on August about the Bond Purchase Program.

Overseas data: August credit card spending in New Zealand, August public sector borrowing in the UK, August existing home sales in the US, and Thursday’s Fed policy decision