Australian shares are set to open lower. Global bond yields are in focus. Profit reports are set to dominate this week. The $A is holding near US64¢.
The investment house says a bid to buy two multibillion-dollar mines from BHP will destroy value, and that the money should be returned to shareholders.AUD +0.03% to 64.06 US centsIn New York: BHP -0.8% Rio -0.4% Atlassian +0.5%Spot gold -0.01% to $US1889.31/oz in New York10-year yield: US 4.25% Australia 4.23% Germany 2.62%All eyes are looking forward to Jerome Powell’s speech at the Kansas City Fed hosted Jackson Hole, Wyoming gathering August 24-26.
BofA also said that in terms of the extent and timing of additional hikes, “Powell is likely to emphasise that every meeting is live. If Powell were to comment that he is comfortable with the current pace of hikes for now, markets would view that as guidance towards a pause in September and a possible hike in November.
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