Business News

6 things you need to know today

  • The 10-year Treasury yield clawed its way back to a new four-year high on Monday after an equity sell off that it helped cause sent its rate back down last week. The yield rose above 2.9% while the 30-year Treasury bond was higher at 3.1%. Traders are expecting Wednesday's Consumer Price Index for January to validate fears that inflation is ramping up.
  • Three of the four big banks are expected to start rolling out near real-time payments from Tuesday. Commonwealth Bank, Westpac and NAB will start offering customers the ability to make money transfers that will settle within less that a minute, compared with today, where it can take up to three days for funds to arrive. The new system also allows customers to transfer money to an external account without entering a BSB or account number.
  • Electronics retailer JB Hi-Fi's underlying first-half net profit jumped by 21 per cent to $151.7 million. Despite the strong growth, shares plunged more than 8% yesterday after the results were released. The company says it’s  anticipating full-year profit to be in the $235-$240 million range — beating its $172 million result last year.
  • Tonga has been lashed by category four Cyclone Gita, causing widespread damage across the main island. Winds of up to 230km/h ripped roofs off houses, brought down trees and caused widespread flooding. Emergency authorities said 70% of the population had been affected however there are no reports of any deaths yet.
  • Australian skiier Matt Graham has won a silver medal in the men's moguls at the Winter Olympics in Pyeongchang. Graham said the course was tricky and the moguls were deep and firm meaning his choice of line through the course needed to be vital. Graham claimed Australia's first medal of the games.
  • Wall Street is continuing to climb back from its worst week in two years, as European stocks join the recovery rally. The Dow Jones rose 1.7% at 24,601 the  S&P 500 also finished 1.4% higher at 2,656 and the Nasdaq 1.7% at 6,523. Over to Europe, FTSE finished strong 1.2%higher at 7,177 the  DAX 1.45% at 12,282.

Published on: Tuesday, February 13, 2018

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