Company Interview / the open: ASX to fall as bond market flashes warning signs 🚨

The local market is set to open lower by 0.5%. 

Global stocks have eased as US Bond yields surged, amid a global market selloff in longer-dated bonds driven by war-related inflation concerns. The S&P 500 and tech-heavy Nasdaq fell for a third consecutive session as investors locked in profits following a sharp rally that began in late March.

The retreat came despite Bank of America’s latest monthly survey of global fund managers showing investors remain firmly “in it to win it”, with equity allocations posting a record jump and cash holdings falling sharply as optimism over earnings growth and higher interest rates surged. 

US President Donald Trump has indicated the United States could still strike Iran, revealing he had come within an hour of approving military action before delaying a decision. But the US Senate has advanced a war powers resolution that would require the President to secure congressional approval for military action against Iran, marking a rare rebuke of the Republican leader, though the measure still faces several hurdles before taking effect. 

Gold prices fell by more than 1% on a firmer greenback and persistent inflation fears kept interest rate hike expectations and Treasury yields high. Oil remains above US$110 a barrel. 

There's very little on the data docket today, but in Japan March Balance of Payments data is due. Results are expected from James Hardie, Argo Investments, Catapult Sports and Webjet. ausbiz will be speaking with executives from Catapult and Serko. Among the companies holding annual meetings: Resolute Mining, Sigma Healthcare and Stanmore Resources.