Afternoon trading June 8

Thanks @shovel40, @FlashPoint, @Fiji1 and morning crew.


Aussie shares struggled for a third session as a surge in bond yields to a four-month high pressured growth stocks.

The ASX 200 traded both sides of break-even before reaching mid-session less than a point or 0.01% ahead. Gains in resource stocks, industrials and utilities helped offset a 3.3% plunge in the high-flying tech sector.

Growth stocks struggled as the yield on ten-year Australian government bonds neared 4% for the first time since early January. The ten-year yield touched 3.998% this morning amid expectations of further rate hikes this year. Growth stocks are seen as particularly vulnerable to higher borrowing costs.

Retailers felt the heat from the deteriorating outlook for the cost of living. Lovisa, Premier Investments and Domino's Pizza all lost at least 3%.

Personal trading: Tricky morning. Lot of thread faves on the ropes. I battled the algos on KNG to a pointless draw. Took up way too much mental energy for no return, lol. Elsewhere, was at the right entry level for SGC but didn't get a fill. Still have cheap-arse buy orders sitting waiting on others.