FPG Overnight Headlines 05/10/2022 

Overnight headlines 

The lower US jobs report and the RBA’s decision to reduce the tempo of rate increases caused yields on the 10-year US Treasury to decline for a second day. 

Markets continue to largely anticipate a 0.75 percent increase from the US Federal Reserve next month. 

Fed Governor Philip Jefferson stated that the inflation issue is the most important one the US central bank is currently dealing with and that a solution “may take some time.” Mary Daly, president of the San Francisco Fed, stated that the bank must continue raising interest rates. 

Market movements

• US64.87 at AUD-0.5%
• Bitcoin rose 2.8% to $20,160 USD
• Dow +2.6% S&P 500 +2.6% Nasdaq +3.2%
• Gold up 1.5% to $1725.00 US per ounce
• Brent oil rose by 3.2% to $91.69 per barrel

Today’s agenda 

Local: ABS data: Retail Sales for August. . ADP Non-farm Employment Change in the USA. 

Overseas data: US Jobs statistics, OPEC Meetings, Tokyo CPI, New Zealand Cash Rate, and RBNZ Rate Statement