Thanks afternoon crew.
End-of-day summary:
The share market logged its longest winning run in a month as falling bond yields brought relief to rate-sensitive sectors, and a recovery in iron ore prices boosted bulk metal miners.
The ASX 200 rallied 24 points or 0.31% to a third straight gain. The heavily-weighted materials sector climbed 0.85% to its highest level since early February. The rally came as ore prices lifted for a third day in China.
A reversal in bond yields lifted rate-sensitive sectors here and in the US overnight. REITs gained 1.17%, health care 1.03% and utilities 0.69%.
The yield on 10-year Australian government bonds declined seven basis points this afternoon, mirroring a similar move in the US ahead of tonight's consumer price report. The S&P 500 swung from initial overnight losses to a gain of 0.14%.
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Thanks afternoon crew. End-of-day summary: The share market...
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