anthony taguest·sydney --:--
ASX 200 8,728▼0.1S&P 500 7,802▼0.2Nasdaq —▼0.2Nikkei 70,036▼0.9AUD/USD 0.695▼0.3BTC 82.3k▼2.7Brent $102Gold $4,135▼1.4Hang Seng 24,131▼0.6USD/JPY 157.78▼0.1Iron ore $91▼0.1US 10Y 5.28%VIX 15.08
aheadmid-Oct RBA meeting minutes27-28 Oct FOMC decision3 Nov RBA decision
driving today
US 10-year yields jumped to 5.28% — a level last seen in 2002 — after Fed minutes flagged a possible hike at the Oct 27-28 FOMC, snapping Wall Street's record run and dragging Asia lower overnight. Brent crude is back near $100+ on renewed Middle East supply risk, and ASX 200 futures point to a softer open in Sydney.
bottom line
- 1US yields spiked to the highest since 2002 (10Y 5.28%) after Fed minutes flagged a possible hike at the Oct 27-28 meeting, snapping the S&P 500 and Nasdaq's record run (-0.2% each) and pulling the Dow down 0.7%.
- 2Asia followed Wall Street lower: Nikkei -0.92% to 70,036, Hang Seng -0.62% to 24,131. Shanghai reopens today after the Golden Week break.
- 3ASX 200 ended a winning streak Wednesday, -0.1% to 8,728; SPI futures point to a softer open this morning, with gold miners Newmont and Northern Star in focus after an overnight bullion selloff.
- 4Brent crude is back above $100 on renewed Middle East supply risk, reviving inflation concerns just as the RBA (cash rate 4.60% after September's hike) and Fed both lean hawkish.
- 5AUD/USD slipped toward 0.695 as Fed hike bets meet oil-driven risk-off flows; USD/JPY eased slightly to ~157.8 with BoJ officials flagging a faster path toward neutral.
- 6Bitcoin fell 2.7% to ~$82.3k, extending its slide from January's record highs, as hawkish Fed minutes weighed on risk assets broadly.
- •S&P 500 and Nasdaq both slipped 0.2% Wednesday, a day after setting fresh records, as rising Treasury yields reasserted themselves; the Dow fell 0.7% (-341pts).
- •Nikkei 225 -0.92% to 70,036 and Hang Seng -0.62% to 24,131 tracked Wall Street's pullback; Shanghai reopens today after being parked at 3,842.19 since early October for Golden Week.
- •ASX 200 ended its winning streak, -0.1% to 8,728 Wednesday; SPI futures imply a softer open Thursday, with gold miners Newmont and Northern Star in focus after an overnight bullion drop.
- •Brent crude climbed back above $100 (last near $102) on renewed Middle East supply risk, reviving inflation concerns for central banks.
- •Gold fell roughly 1.35% overnight to ~$4,135, extending a pullback that has it down almost 6% over the past month and well off January's record near $5,600.
- •Iron ore sits near a four-week low at ~$91/tonne, down almost 9% over the month, as Chinese demand signals stay soft heading into the Golden Week reopen.
- •The Fed's latest minutes flagged a possible hike at the Oct 27-28 FOMC meeting, lifting the 10-year Treasury yield to 5.28% and ending Wall Street's record run.
- •RBA hiked to 4.60% in September — its fourth rise of 2026 — and has signalled it will keep tightening if inflation stays elevated; minutes due mid-October ahead of the 3 Nov decision.
- •BoJ holds its policy rate at 1.25% after September's increase; board members reportedly want to accelerate toward neutral, with markets eyeing a possible move as soon as December.
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