Overview
Australian shares are poised to open higher. The Nasdaq Composite rallied 1.1 per cent in New York, resetting both its intraday and closing records even as US bond yields pressed higher too.
S&P/ASX 200 Index futures were up 27 points or 0.3 per cent to 8750 near 7am (AEDT). In New York, the S&P 500 was 0.7 per cent higher at the close. Materials and communication services were pacing gains in 10 of the 11 industry sectors. Real estate slipped.
Note: With the time change in Australia over the weekend, Wall Street’s closing bell now rings at 7am (AEDT).
The yield on the US 10-year note briefly traded at 5.34 per cent with the 30-year yield reaching 5.7 per cent. Auctions of 10- and 30-year debt this week will test demand.