While bond traders have sharply revised their interest rate bets, equity investors appear unconvinced that a resumption in hikes is likely.
“Economists have certainly pushed out rate cut expectations and we know that cuts aren’t coming anywhere near as soon as everybody was hoping.Interest rate sensitive real estate and tech sectors were the strongest performing, both rising 1.7 per cent.Financials also advanced, with the big four banks all gaining.Elsewhere, materials stocks advanced, up 0.5 per cent, with Fortescue adding 0.3 per cent to $25.67 and Rio Tinto rising 0.1 per cent to $130.98.
In corporate news, money manager Perpetual advanced 3.1 per cent to $24.02 after it confirmed that it had entered talks with American global investment firm KKR & Co to sell its wealth and trust businesses.Releasing its March quarter results, the company said it had produced its first barrel at its Honeymoon Project located in South Australia.
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Source: FinancialReview - 🏆 2. / 90 Read more »
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