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ASX to drop as Wall Street turns down the heat – The Australian Financial Review
Australian shares are expected to open lower as markets reversed moves and treasury yields hit new peaks.
The renewed sell-off in the Treasury market since the conclusion of yesterdays FOMC meeting may seem hard to square with the message that monetary policy is likely to remain very loose for a long time yet despite stellar economic growth and a substantial pick-up in inflation this year, writes John Higgins from Capital Economics.
One possibility is that it reflects a growing view that the flipside of this message which seems consistent with the central banks revised FAIT framework will be tighter…
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