Bond Market Intervention Eases Pressure, ASX Set to Rise After Six-Day Slide

The US Treasury Department's surprise decision to double its bond buyback program has sent a wave of relief through global markets, with Australian futures pointing to a modest gain at today's open. The S&P 500 rose 0.3% overnight, while the 10-year Treasury yield fell to 4.66% from 4.71% – easing the pressure that has hammered the ASX for six straight sessions. Locally, futures at 5am AEST pointed to a rise of 13 points, or 0.1%, at the open.

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