The Australian share market is set to open higher, after Wall Street’s main indexes rose to near record highs over the weekend.
The Australian share market is set to open higher, after Wall Street’s main indexes rose to near record highs over the weekend, fuelled by bets of interest rate cuts.
The US dollar — which would gain if loose fiscal policy kept bond yields elevated — started to move higher against most peers early in Asia trading. Bitcoin rose above $US60,000, potentially reflecting Trump’s crypto-friendly stance. In the bond market, which has been home to some of Wall Street’s strongest action this week, Treasury yields yo-yoed after the release of the latest update on inflation. It said prices rose more at the wholesale level last month than economists expected, which was a letdown after data on Thursday said inflation at the consumer level was better than expected.
Some of the acceleration in Friday’s data could be the result of higher profit margins for businesses, which can swing sharply and some analysts called irrelevant to the inflation fighters at the Federal Reserve.
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