Australian shares are expected to advance at the open, after American investors assessed the pain ahead for growth stocks and US markets declined.
Australian shares are expected to advance at the open, after American investors assessed the pain ahead for growth stocks and US markets fell.The Australian dollar was down 1 per cent at US67.33¢.
Treasury yields declined across the curve and the policy-sensitive 10-year yield was about 3.78 per cent, after dropping to around 3.72 per cent earlier. Oil declined.Investors, still reeling from a spell of predictions they got wrong last year, expect a volatile year of trading. US Federal Reserve policy will dictate how stocks and bonds perform. Some traders are already seeking out opportunities resulting from risk assets getting sold off.
“Everyone is bracing for volatility,” said Shawn Cruz, head trading strategist at TD Ameritrade. “That seems to be the common theme. Anyone I talk to, they’re expecting generally elevated levels of volatility this year. And maybe that doesn’t mean another year like we had this past year but a much choppier market.”
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