FPG Overnight Headlines 25/10/2022

Overnight headlines 

The US 10-year note’s yield increased by 3 basis points to 4.25 percent. The yield on the 10-year note for the UK fell 31 basis points to 3.73 percent. 

All three major Wall Street benchmarks were up, continuing the surge from the previous week. Nine out of the 11 S&P 500 industry groups saw gains, led by consumer staples and healthcare; materials and real estate trailed. 

Market movements 

• AUD down 1% to 63.13 US cents; 
• Bitcoin down 0.7% to US$19,331; 
• On Wall Street, up 1.3% and 1.2%, respectively. +0.9% Nasdaq
• The Stoxx 50 in Europe is up 1.5%. CAC +1.6% and FTSE +0.6% DAX +1.6%
• Spot gold was down 0.6% to $US1648.18/oz, 
• Brent crude was down 0.4% to $US93.14/barrel, 
• Iron ore was up 0.3% to $US91.05/tonne (SGX)
• Ten-year yield: 4.25% US Germany is 2.32%, Australia is 4.14%

Today’s agenda 

Local: Federal budget  

Overseas data: October’s business climate in Germany; August’s FHFA and S&P CL CS home price data in the US; October’s consumer confidence; and October’s Richmond Fed index