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 Market
Australia’s 10-year government bond yield jumped above 5.3%, its highest level since May 2011, tracking a surge in US Treasury yields as escalating Middle East tensions pushed oil prices higher and stoked inflation concerns. The US bond-market selloff accelerated after the Treasury purchased fewer bonds than expected in its first expanded buyback operation. This added pressure from spiking oil prices as intensifying strikes between the US and Iran threatened to worsen disruptions to energy supplies from the Gulf, raising inflation risks and expectations that central banks may keep monetary policy tighter for longer. The oil shock ramped up bets on a fourth rate hike this year by the Reserve Bank of Australia, with markets now pricing in an 84% chance of a quarter-point increase at the upcoming meeting this month. Markets also expect the cash rate to reach 4.85% by early next year, its highest level since 2008. Focus now turns to August jobs data for further clues on the policy outlook.
