1. Scientists find fossil of dinosaur ‘killed on day of asteroid strike’
Scientists have come across a remarkable discovery, finding the remains of a dinosaur believed to have been killed the very day of the fateful asteroid strike. “The perfectly preserved leg, which even includes remnants of the animal’s skin, can be accurately dated to the time the asteroid that brought about the dinosaurs’ extinction struck Earth 66m years ago, experts say, because of the presence of debris from the impact, which rained down only in its immediate aftermath,” The Guardian reports.

“It’s absolutely bonkers,” said Phillip Manning, a professor of natural history at the University of Manchester. He told BBC Radio 4’s Today programme the thescelosaurus leg discovered at the Tanis dig site in North Dakota was the “ultimate dinosaur drumstick”.

He said: “The time resolution we can achieve at this site is beyond our wildest dreams … This really should not exist and it’s absolutely gobsmackingly beautiful. I never dreamt in all my career that I would get to look at something a) so time-constrained; and b) so beautiful, and also tells such a wonderful story.”

2. Ukraine update: EU bans Russian coal imports in first energy hit
According to Bloomberg: European Union countries agreed to ban coal imports from Russia, the first time the bloc’s sanctions have targeted Moscow’s crucial energy revenues.  

U.S. officials warned the war in Ukraine may last for weeks or even years, as Kyiv’s foreign minister pleaded for urgent military assistance while it can still make a difference. 

The United Nations General Assembly voted to suspend Russia from the Human Rights Council, the first country to be kicked off since Libya in 2011, though many countries abstained. 

3. Big four banks lock in interest rates from June
The big four banks have their predictions and believe interest rates will start rising in June after the Reserve Bank of Australia’s hawkish pivot at Tuesday’s board meeting.

“Westpac chief economist Bill Evans expects the cash rate, now at a record low of 0.1 per cent, to hit 1.25 per cent by year’s end, while NAB chief forecaster Alan Oster predicts 1 per cent,” the AFR reports.

“From there we expect a more gradual path, with the RBA raising rates a further five times over 2023 and 2024, taking the cash rate target to 2.25 per cent by the end of our forecast horizon,” Mr Oster said.

4. Brace yourselves for 40% commodities rally, says JPMorgan
Commodities could surge by as much 40% -- taking them far into record territory -- should investors boost their allocation to raw materials at a time of rising inflation, according to JPMorgan Chase & Co.

“In the current juncture, where the need for inflation hedges is more elevated, it is conceivable to see longer-term commodity allocations eventually rising above 1% of total financial assets globally, surpassing the previous highs,” the JPMorgan strategists wrote in an April 6 note. All else being equal, that “would imply another 30% to 40% upside for commodities from here,” they said.

5. ASX to rise following Wall St nudge
ASX futures were up 38 points or 0.5% to 7457 near 7am AEST, with the AUD -0.4% to 74.79 US cents. On Wall St: Dow +0.3% S&P 500 +0.4% Nasdaq +0.1%. Brent crude -0.4% to $US100.63 a barrel. 2-year yield: US 2.46% Australia 2.09%. 10-year yield: US 2.66% Australia 2.91%.