Afternoon trading April 11

Thanks @shovel40, @Fiji1 and morning crew.

Half-time wrap:

Rate-sensitive sectors steered the share market lower after "hot" US inflation data overnight appeared to push interest rate cuts further into the future.

The ASX 200 briefly erased three days of gains before halving its fall to 45 points or 0.57%. Property trusts, tech companies and consumer stocks spearheaded the retreat as bond yields jumped. Energy producers, gold miners and supermarkets provided havens.

The sell-off here followed falls on Wall Street as bonds, stocks and currencies adjusted to the prospect that the Federal Reserve may not start cutting rates until September at the earliest. The odds on a June rate cut plunged to 17% from above 50% after consumer price data showed both core and headline annual inflation were stronger than expected last month.

The Dow sank more than 400 points to its lowest close in almost two months. The S&P 500 gave up 0.95%.


Personal trading: Solid morning. Clipped tickets in HFR, PIL and CGR.