Australian shares are set to open lower after all three US benchmarks slid, though they closed above session lows. Oil settled near $US100 a barrel, while bitcoin also fell.
S&P/ASX 200 futures were down 53 points or 0.6 per cent to 8709 near 7am (AEDT). In New York, the S&P 500 fell 0.2 per cent. Industrials led seven of the 11 sectors lower.
For investors, the hard task is “adapting to the fog”, Jeffrey Roach, chief economist at LPL Financial, said in a note. “With geopolitical shocks arriving without warning and new [Federal Reserve] leadership still finding its footing, the market is struggling to find clear signals. That argues for leaning on hard data over sentiment, staying diversified, and keeping some flexibility until the picture clears.”
While US bond yields were steady after a well-received sale of 10-year notes, France’s 10-year yield surged 12 basis points to 4.86 per cent, Italy’s equivalent rose 10 basis points to 4.62 per cent and the UK’s increased 7 basis points to 5.44 per cent.
Investors have been selling French bonds amid renewed concerns about the nation’s rising debt and its failure to control spending. Protests this week by students and teachers across the country have left hundreds of people injured.
Source: https://www.afr.com/markets/equity-markets/asx-to-drop-global-bond-yields-surge-anew-20261008-p613pn