ASX Slumps on Global Bond Rout as Albanese Seals Landmark Ukraine Pact

Australian shares are set to plunge 97 points (1.1%) at the open after US bond yields spiked to 5.12% – their highest level since 2007. The 10-year Treasury yield jumped from 4.96% late Tuesday following surprisingly strong US economic data that raised fresh inflation fears. Wall Street took a hit, with the S&P 500 sliding 0.7% and the Nasdaq dropping 1.1%. Oil prices surged 3.5% to $US102.78 a barrel amid ongoing Middle East...