30th September 2022 Market Updates
FPG Fortune Prime Global 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.
- 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
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.