Market Open: Oz shares to retreat again; US bond yields flirting with level last seen before ’07 financial crisis

At The Bell — Australian shares are expected to drop some 20 points at open on Wednesday morning, following a cautious Wall Street that really didn’t like U.S. bond yields hitting a two-decade high in their trade day.

Hear from all the ASX-listed companies that were at the RIU Resources Round-Up in Sydney, right here on HotCopper.com. Over a dozen interviews.

The thirty-year yield has risen to nearly 5.2%, which is a level we last saw right before the 2007 global financial crisis. Never a great sign, I suppose.

Oil prices have also slipped somewhat after Trump said he was “an hour away” from ordering more attacks on Iran before halting. Still over US$111 a barrel at time of writing, though, which will be sure to weigh again.

After what was largely a green day through Tuesday (following that early-week Monday bloodbath), a soft retreat does make sense for Oz traders.

How far Aussie shares retract remains the question – especially after the RBA assistant governor Sarah Hunter said there are growing concerns about rising price pressures in the economy. She’s warned that there are more signs for further price hikes; investors will more than likely take that as a sell signal.

ASX stocks to watch

Now, stock news. Over in IPO land, the headlining Canva float has come under question from one of its biggest Silicon Valley backers, who says the design tech site doesn’t need to go public to continue offering value.

Marimaca Copper (ASX.MC2) has raked in new assays at Pampa Medina that confirm continuity and scale in the sediment-hosted copper system.

Building giant James Hardie (ASX.JHX) has seen a 75% drop in FY25 net income, to USD$104 million, on its blockbuster Azek acquisition, as well as restructuring and asbestos compensation costs. CFO Ryan Lada also told shareholders the company’s “not assuming a market recovery” is coming just yet.

Plenty else on elsewhere in Oz earnings, too, with Argo Investments (ASX.ARG), Catapult Sports (ASX.CAT), and Webjet (ASX.WEB) sharing today.

Resolute (ASX.RSG), Sigma (ASX.SIG), and Stanmore (ASX.SMR) have meetings.

Buck and ore

In forex, the Oz dollar buys US 71c.

And to commodities, all in the greenback,

Brent Crude is selling at $111.09/Bbl, down around -0.9% today,

Iron Ore is -2% weaker; $108 a tonne in Singapore,

Gold is down, $4,494/ounce, and,

US natgas futures at ~$3.11 per gigajoule.

That’s HotCopper‘s Market Open, I’m Isaac McIntyre – happy trading today.

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