Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
Japan Manufacturing Growth Accelerates in June as Orders Surge Despite Iran War Cost Pressures 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
The Australian government bonds suffered during Asian trading session Wednesday tracking a similar movement in the United States’ Treasuries after hopes arose of a successful Brexit deal soon amid a calmer trade talk situation between the U.S. and China.
However, investors shall keep a close eye on Australia’s labour market report for the month of September, scheduled to be released on October 17 by 00:30GMT, for further direction in the debt market.
The yield on Australia’s benchmark 10-year note, which moves inversely to its price, jumped 3-1/2 basis points to 1.048 percent, the yield on the long-term 30-year bond surged nearly 4 basis points to 1.636 percent and the yield on short-term 2-year traded nearly 2 basis points higher at 0.722 percent by 04:20GMT.
Brexit optimism prompted GBP higher on hopes that EU and UK leaders are closing in on a deal ahead of the EU Council meeting tomorrow. The S&P500 rallied to four-week highs overnight on earnings optimism led by JPMorgan and Johnson & Johnson, whilst UST bonds also skidded with the 2- and 10-year yields up to 1.62 percent and 1.77 percent respectively, OCBC Treasury Research reported.
However, global risk sentiments may be off to a shaky start today after the IMF downgraded its global growth forecast for the fifth straight time by 0.2 percentage point to 3 percent for 2019 and by 0.1 percentage point to 3.4 percent for 2020, citing the familiar trade tensions, the report added.
Meanwhile, the S&P/ASX 200 index traded tad 0.43 percent higher at 6,712.50 by 04:25GMT.
