Pre-Market Report – Monday 30 June: US markets hit records | BKW update

Wall St rose Friday to reclaim record highs in a volatile session. S&P 500 and Nasdaq up 0.52%. Dow up 432. Small caps up 0.24%. Stocks initially rose as the PCE price index came in line with expectations and US/China announced progress on their trade deal framework – fell after Trump cut off trade negotiations with Canada – then reversed to rally into the close. S&P 500 up 3.4% for the week. Nasdaq up 4.25%, its best in two months.

• Bond yields rose despite another gain on Wall St. US10Y and 2Y up 3bp. The weekly moves tell the real tale. US10Y down 10bp, 2Y down 16bp. Another sign of the markets risk appetite came from corporate junk bonds falling on average to 6.8%. The lowest level since December.

ASX SPI up 5 - BKW update - Quiet end to the financial year.

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