ASX closes down 1.4% as bond yields rise; Transurban, Dexus fall
The ASX has been dragged down 1.4 per cent by rising bond yields. Banks fell amid a $1.5bn capital raising by Macquarie. Bond yields rose as the RBA stayed out.
Welcome to the Trading Day blog for Friday, October 29. Stocks closed 1.4 per cent lower as bond yields rose and the RBA stayed out, suggesting it is about to change its rate guidance.
Australia's S&P/ASX 200 closed down 1.4 per cent at about 7324 as bond yields rose and the RBA stayed out.
Overnight the S&P 500 gained 1 per cent, Nasdaq rose 1.4 per cent, both hitting record highs amid gains in Ford, Apple and Amazon and Facebook (now Meta).
Iron ore fell 5.4 per cent to $US113.15 per tonne.
The US Nymex crude (WTI) price gained 0.2 per cent to $US82.81 a barrel.
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