Australian shares are set to open lower after mixed US session. ASIC sues Westpac. RBA’s Philip Lowe hosts his final meeting as governor. Follow updates here.
This year’s US stock market rally is strong enough to withstand another leg higher for bond yields, according to the latest Markets Live Pulse survey.
“If we get higher interest rates and bond yields, it will probably be because the macro economy surprises on the upside,” said Christopher Hiorns, portfolio manager at EdenTree Investment Management. “So equities, providing protection against inflation, may not be such a bad place compared to bonds.”
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