Australian shares poised to surge; bond yields retreat; investors pare back expectations for aggressive rate increases; oil extends decline. Follow updates here.
Economists have attributed the relief rally on Wall Street to investors paring back expectations of aggressive rate rises by the Federal Reserve.
They said the standout was the final University of Michigan Consumer Sentiment Index, wherein the closely watched 5-10 year inflation expectations read fell from 3.3 per cent in the preliminary release - last seen only pre-GFC - down to 3.1 per cent.
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