Business
ASX surges 1.7pc as blue chips bounce back – The Australian Financial Review
The sharemarket jumped sharply on Monday, after a drop in bond yields calmed jumpy markets and investors swooped on shares in Australia’s major companies.
The overall picture for the lucky country is that it remains lucky, and its recovery continues, said Jeffrey Halley at OANDA. With markets freshly vaccinated with the latest buy everything potion, they were able to shrug off a very mixed bag of China and pan-Asia manufacturing PMIs.
After last weeks sharp spike in longer-dated goverment bond yields, the Reserve Bank of Australia doubled the size of its daily bond purchases to $4 billion. The Reserve Banks policy-setting board is scheduled to meet…
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