Bonds/Interest Rates

Positive earnings, a successful bond auction and a commodity rebound provided a reverse of the last few days, resulting in a late sell-off. Dow up 83.

Australian building approval numbers bounced back from a weak May to record a solid gain in June, while house prices also rose in both the month and the June quarter.

Poor data, poor bond auction, big commodity drops – but still Wall Street bounces back. Dow down 26. (Locked for subscribers until 10:00 AEST)

Wall Street yet again came back from a wobbly brink last night thanks to Case and Shiller. Dow down 11.

President Obama’s delegation is currently in talks with China’s team in Washington about politics, climate and economics. Oh to be a fly on the wall.

Bond issue fears and mixed results had Wall Street wobbling last night, although resilience won out. Dow up 15.

UBS notes the budget deficit already appears to be tracking at a less substantial level than expected.

Wall Street surged last night on positive housing and jobs data. Dow up 188.

Australian CPI data largely matched market expectations in the June quarter, suggesting interest rates are likely to remain on hold.

The minutes of this month’s RBA meeting suggest the board is now less tentative about economic recovery.