ASX Opens Higher as Bond Yields Spike, RBA Rate Hike Looms

The ASX 200 futures pointed to a 31-point (0.4%) gain at the open, defying a Wall Street slip. The market found a floor after Tuesday's 0.9% sell-off that pushed the index to a two-month low. The rally is being led by commodity-sensitive sectors, buoyed by Brent crude hitting $108.75 a barrel and gold miner Wiluna Mining launching a $180m IPO to rejoin the bourse with a potential $539m market cap.

The Bear Case

The bond market is screaming caution. The...