Key facts
- Bond yields and oil prices increased.
- Stock markets declined.
- Australia's central bank raised its cash rate to a 15-year high.
- Further rate increases are expected in Australia due to inflation and a strong economy.
Rising bond yields and oil prices are contributing to a decline in stock markets, as investors anticipate increased borrowing costs. In Australia, the central bank has raised its cash rate to a 15-year high. This move is attributed to persistent inflation and a strong domestic economy, leading to expectations of further rate hikes.