By Oliver Gray
Investing.com - The S&P/ASX 200 dipped in Thursday’s deals, extending declines for the third consecutive session and tracking wall street lower as fresh U.S. data showed annual inflation rising at the quickest pace in 31 years, sparking a surge in long term bond yields amid concerns that Federal Reserve policymakers will move to raise interest rates sooner than initially anticipated.
ASX 200 Futures were down 30 points or 0.4%.
Among stocks, Mining heavyweights gained despite Iron ore sinking to near 3-year lows, with Rio Tinto Ltd (ASX:RIO) gaining 1.46%, BHP Billiton Ltd (ASX:BHP) lifting 1.04%. Fortescue Metals Group Ltd (ASX:FMG) was also up 4.55% following its annual general meeting yesterday, as Andrew Forrest reaffirmed Fortescue Future Industries’ huge vision for green hydrogen, green ammonia and green electricity to decarbonise FMG's mining operations and become a global energy player in its own right, laying out plans to produce 15 million tonnes of green hydrogen per year by 2030.
On the bond markets, Australia 10-Year yields were at 1.823% while United States 10-Year rates were at 1.57%.
In currencies, the Australian Dollar was trading at 4-week lows against the US dollar, while the US Dollar Index surged to fresh 16-month highs of 94.867.
In New Zealand, the NZX 50 was up 0.14% to 13041.