Business
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…
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