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30th September 2022 Market Updates

FPG Fortune Prime Global Overnight headlines 

Overnight headlines

The US 10-year note’s yield increased by 5 basis points to 3.79 percent. After Prime Minister Liz Truss stated that the government’s expenditure plans would move forwards, the UK 10-year increased 13 basis points to 4.13 percent.

In order to strengthen our economy, move Britain forwards, and combat inflation, we had to act quickly, she said on BBC radio. “Of course, it means adopting controversial and difficult decisions,” she added.

But as prime minister, I’m willing to make that sacrifice because I value having a healthy economy.

Losses on Wall Street were substantial. Down 458 points to 29,225.6, the Dow S&P 500 was trading at 3640. Below 11,000 points were closed on the Nasdaq Composite.

The NYSE Fang + Index fell 3.4%, with Apple being a major contributor. The VIX was 5.4% higher and close to 32.

 

Market movements

  • Down 0.5% in AUD to 64.92 US cents
  • Bitcoin fell by 1.1% to US$19,408
  • The Dow fell by 1.5 percent, the S&P 500 fell by 2.1 percent, and the Nasdaq fell by 2.8% on Wall Street
  • Spot gold decreased by 0.1% to $1657.68/oz
  • Brent crude decreased 1.2% to US$88.24 per barrel
  • Ten-year yield: 3.79% US, 3.93% AUS, 4.13% UK, and 2.17% GER

 

Today’s agenda

Local: August private sector credit; August building permits in New Zealand; and September ANZ consumer confidence

Overseas data: China manufacturing and services PMI; Japan industrial production in August; the Eurozone’s September CPI; the UK’s second-quarter GDP; the United States in August; and the University of Michigan’s September consumer sentiment

Note: On October 1, China’s Golden Week holiday will begin.

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