Forex
Fed Rate Hike Fuels Australian Sharemarket Gains
Australia's sharemarket has recorded its second consecutive day of gains after the US Federal Reserve's interest rate hike helped to alleviate bond market jitters.
The S&P/ASX 200 index rose by 35.9 points on Thursday, or 0.41%, to 8,732.4, while the broader All Ordinaries gained 36.4 points, also up 0.41%, to 8,910.9.
The yields on long-dated bonds eased from multi-decade highs following the US Federal Reserve's decision to deliver its first interest rate hike in three years, demonstrating a commitment to taming inflation and addressing concerns about bond markets.