ASX 200 tech shares set to rebound as bond yields fall

It finally looks set to be a good day for Australian tech shares on Wednesday.

This follows a very positive session on Wall Street’s technology-focused Nasdaq index overnight.

What happened?

Investors were fighting to buy beaten down US tech stocks after bond yields declined on Tuesday.

According to CNBC, the US 10-year Treasury yield fell more than 6 basis points to 1.52% yesterday. This means the benchmark rate is now down 10 basis points from its Monday high of 1.62%.

The tech-heavy Nasdaq Composite index climbed over 4.1% overnight thanks to very strong gains by giants such as Amazon, Apple, Facebook, and Tesla. The latter was a particularly positive performer, wiping out almost five days of declines by rising over…