Australian shares are set to edge modestly higher at the open. US equities ended slightly up after the US Treasury said it plans to increase buybacks of longer-dated debt, stabilising the bond market for now.
The yield on the US 10-year note plunged 6 basis points to 4.64 per cent at 4.55pm in New York (6.55am AEST). The US dollar slid to a three-month low. Bitcoin leapt 7 per cent. Gold surged more than 4 per cent.
ASX 200 futures rose 27 points or 0.3 per cent to 9034. The S&P 500 was 0.2 per cent higher at the close in New York as healthcare stocks paced seven of the 11 industry sectors higher.
Moderna shares soared 177 per cent after the company said its personalised cancer vaccine developed with partner Merck & Co helped reduce the recurrence of melanoma in a late-stage trial. Shares in Merck, a Dow Jones component, rose 12.6 per cent.
Source: https://www.afr.com/markets/equity-markets/asx-to-edge-higher-us-bond-yields-fall-on-buyback-plans-20260820-p60pw5