The Australian stock market is set to open lower with futures tracking losses on Wall Street after US bond yields reached a two-decade high and oil held above $US111 a barrel. The latest monthly survey of global fund managers by Bank of America found that they are 'in it to win it' with a record increase in equity allocation and a big drop in cash holdings, driven by a surge in earnings per share optimism and forecast of higher interest rates.
Australian shares are set to open lower with futures tracking losses on Wall Street after US bond yields reached a two-decade high and oil held above $US111 a barrel.
The retreat came even as the latest monthly survey of global fund managers by Bank of America found that they are ‘in it to win it’ with a record increase in equity allocation and a big drop in cash holdings, driven by a surge in earnings per share optimism and forecast of higher interest rates. ASX 200 futures were down 35 points or 0.4 per cent to 8604 near 6am AEST.
The S&P 500 was 0.7 per cent at the close in New York, finishing just shy of its session low. Nvidia swung – opening lower, recovering to briefly trade higher, then falling anew. It closed 0.8 per cent down with its quarterly results in focus. It will report at about 4.20pm on Wednesday – 6.20am AEST on Thursday.
The 30-year yield rose as much as seven basis points to 5.19 per cent, reaching a level last seen on the eve of the 2007 global financial crisis. Bond markets across Europe. Today’s agenda Results are expected from James Hardie, Argo Investments, Catapult Sports and Webjet. Among the companies holding annual meetings on Wednesday: Resolute Mining, Sigma Healthcare and Stanmore Resources.
The government plans to push through legislation to change CGT and negative gearing before the July winter break. Trusts will come later. The former Anglican bishop was the first cleric to hold the position. He resigned in 2003 after allegations that he failed to protect child sexual abuse victims in the church.
The centrepiece of Tabcorp chief executive Gillon McLachlan’s plan to reverse the company’s fortunes has put some pubs offside. Across the world, anything to do with powering up data centres is going bonkers. It’s no different in Australia, where electrical contractors are sparking
Australian Stock Market Bond Yields Nvidia US Bond Yields Bond Markets Global Fund Managers Equity Allocation Cash Holdings Earnings Per Share Optimism Forecast Of Higher Interest Rates ASX 200 Futures S&P 500 Nvidia Quarterly Results Bond Crisis Tabcorp Electrical Contractors Data Centres Powering Up Boiling Over
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