Half-time wrap:
Aussie shares slumped to an 11-month low as a global bond sell-off accelerated on fears interest rates will stay elevated for longer than most investors projected.
The ASX 200 dipped to 6876, a level last seen in November 2022, before paring its fall to 49 points or 0.7% at 6895.
Shallow rebounds in utilities and gold miners were outweighed by declines across the broader market. Tech stocks, spec stocks, telcos and banks were hit hardest. The Emerging Companies index collapsed 1.9% to its weakest since December 2021.
Today's retreat followed heavy selling on Wall Street after stronger-than-expected job vacancy figures raised questions about how high rates will have to go to cool inflation.
The S&P 500 dropped 1.37% as treasury yields climbed to the highest since 2007. Here, the Australian government 10-year yield rose 10 basis points to a level last seen in 2011.
Personal trading: Good to see some spec action this morning, but I inadvertently avoided it. Got into two of the slowest stocks on the market. Pretty sure they had a pulse yesterday. Medic? Are these stocks still breathing? Nurse! Defibrillator!
