Thanks afternoon crew.
End-of-day summary:
Aussie shares declined after a six-month high in inflation prompted several economists to forecast an August rate hike.
Stocks fell and bond yields climbed after May data showed consumer prices increased more than expected last month. Headline annual inflation jumped to 4% from 3.6% in April, moving further from the Reserve Bank's 2-3% target range.
Deutsche Bank and Morgan Stanley both amended their rates outlooks to include a probable August rate hike. NAB pushed out its forecast for the first cut to May 2025.
The ASX 200 slumped 56 points or 0.71% as investors dumped companies seen as most exposed to higher rates. Property and consumer stocks were among the day's worst. Notable falls included Harvey Norman, Eagers Automotive and Wesfarmers. Tech, energy and utility stocks weathered the storm best.
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Day traders' after-market lounge June 26
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