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8@eight: ASX to jump as Fed pledges to stay on the tools – Sydney Morning Herald
What happened overnight and what is ahead for the Australian sharemarket.
The yield on the 10 Year US Treasury note fell to 57 basis points, driving the US Dollar lower, with the US Dollar Index falling to a new 2-year low. That dynamic also drove further strength in gold, which rallied to briefly challenge the all-time highs the metal recorded earlier in the week.
3. Risk-assets rise in face of grim milestones: The markets tendency to prize monetary intervention over almost all else was somewhat laid bare in US trade, as the US continues to report grave developments…
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