S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico MarketAustralia’s 10-year government bond yield held around 5.0%, its highest level since July 2011, as investors continued to price in the likelihood of further monetary tightening. Data released on Thursday showed that, although unemployment unexpectedly rose in February, it remained relatively low as the economy added more jobs than anticipated. This points to a still-tight labor market, supporting the Reserve Bank of Australia’s view that the economy is resilient enough to hold up with higher interest rates. Earlier in the week, the RBA raised its cash rate for a second consecutive time, citing persistent inflation, with elevated energy prices stemming from the war in the Middle East adding further cost pressures. Currently, traders imply a 56% chance of another quarter-point increase in May, with an additional 50 basis points of tightening expected over the rest of the year. A move in May would fully reverse last year’s rate cuts.
