Asia Hits High Notes: In a midweek market dance, Asian stocks flirted with one-week highs, bonds waltzed into a rally, and the dollar gracefully bowed out on hints of potential U.S. interest rate cuts. Meanwhile, the New Zealand dollar stole the spotlight, soaring as the central bank hinted at another hike should inflation remain obstinate.
The broader Asia-Pacific shares outside Japan rose initially but stumbled as Hong Kong’s tech shares faltered, with Japan’s Nikkei taking a modest dip. The New Zealand dollar, a star performer, surged to a four-month high of $0.6207, boldly overcoming resistance. Simultaneously, the U.S. dollar gracefully waltzed to fresh multi-month lows against the euro, yen, sterling, Australian dollar, yuan, and Swiss franc. Gold joined the performance, hitting a seven-month high above $2,051 per ounce.
In the ballet of financial commentary, Fed Governor Christopher Waller, once a hawkish soloist, hinted at a possible duet of rate cuts in the coming months, contingent on a persistent decline in inflation. Fed funds futures echoed the tune, pricing in over a hundred basis points of cuts in 2024, with a 40% chance they might commence as early as March. Two-year Treasury yields pirouetted lower, and the dollar gracefully descended further in Asia.
Tapas Strickland, the head of market economics at National Australia Bank, noted the market’s responsive choreography to Governor Waller’s suggestion, echoing earlier moves by Fed Chair Jerome Powell. Two-year yields hit mid-July lows, and the benchmark 10-year yield gracefully fell to its September nadir at 4.30%. The dollar, in its elegant descent, reached 0.5% down at 146.68 yen, the lowest since September 12, with a nearly 2% dip in just three days. Against the euro, it glided to a 3.5-month low at $1.1017.
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Waller’s notes set the stage for a two-week global rally in stocks and bonds, except for a somber note in China, where economic doubts cast a shadow. Global stocks basked in an almost 9% surge in November, poised for their most exceptional month in three years, while the Hang Seng remained flat, unable to shake off months of negativity since July.
A discordant note entered the scene as Meituan flagged slowing Q4 growth, leading shares to a 3.5-year low despite a promised $1 billion buyback. The Hang Seng bowed slightly, falling 0.9%, and mainland blue chips faced their fourth consecutive monthly decline with a 1.9% drop in November. As the market performed its intricate dance, some analysts raised a cautionary eyebrow. While parts of Fed officials’ remarks hinted at potential rate cuts, there’s a reminder that these comments are conditional on further inflation declines and restrictive financial conditions.
New Zealand chimed in with a cautious melody, slightly lifting interest rate projections and warning that hikes might not be over. Analysts like Mizuho economist Vishnu Varathan reminded that bets should dance to the tune of conditional policy tightness, avoiding overconfidence in linear projections of dis-inflation.
In other corners, Australian inflation played a quieter tune, easing more than expected. In the world of commodities, Brent crude futures held steady at $81.75 per barrel but were poised for a monthly drop. Singapore iron ore futures, on the other hand, took center stage, rising by 9.6% in November at $130.50 per tonne. The market, a grand performance with its highs and lows, continues its global ballet, responding to the delicate steps of central banks and economic indicators.
Our Reader’s Queries
Who hits the highest notes?
The title of having the highest voice on record goes to Georgia Brown, a talented Brazilian singer who honed her skills at the Aqua Jazz Atelier Music School in São Paulo. Her incredible vocal range was showcased on television, leaving the hosts in awe. Guinness World Records confirmed her achievement, as she hit a G10, a feat that has never been surpassed. Brown’s exceptional talent is a testament to her dedication and hard work in mastering her craft.
Who has the highest note in the world?
When it comes to hitting the highest notes, most people would think of Mariah Carey or Maria Callas. However, Brazilian soprano Georgia Brown has set an impossible peak by hitting a G in the high 10th octave. This note, which translates to about 25,000 hertz, has been confirmed by musical experts, earning Brown a Guinness World Record in 2004. Her achievement is truly remarkable and sets a new standard for vocalists around the world.
What is Mariah Carey’s highest note?
Mariah Carey’s vocal prowess is nothing short of remarkable. Her range spans from G#2 to E7, and she is renowned for her exceptional agility and effortless execution of intricate vocal embellishments. Her ability to hit soaring high notes with ease is a testament to her status as a true vocal virtuoso.
Who is the king of high notes in singing?
Michael Jackson, topping our list, left an indelible mark on the music industry with his career spanning over four decades, from 1964 to 2009. His vocal prowess was unmatched, boasting a remarkable four-octave range, making him one of the most distinguished male singers who could effortlessly hit high notes.