The Match Out: ASX hit as bond yields rise

A tough day at the office with the ASX opening down and building on the losses throughout the session. Bond yields ticked up in the US overnight and the theme continued in our market today with the Aussie 3-year yield up 11bps as rate cuts progressively get priced out of the market – the rate-sensitive stocks feeling the most heat today, though all 11 sectors finished in the red.

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