(Bloomberg) -- Australian stocks fell for a fourth day.
Stocks that rely on U.S. earnings slid, led by Westfield Group, on
concern interest rates may rise in the world's biggest economy.
National Australia Bank Ltd. led declines among banks as bond
yields surged, making their dividends relatively less attractive.
``There's now strong odds global interest rates are on the
rise, which is the last thing equity markets need at the moment,''
said Gerard Minack, a strategist at Morgan Stanley in Sydney. ``If
rates go up that's going to choke up the support for equities.''
Read more at Bloomberg Stocks News
Stocks that rely on U.S. earnings slid, led by Westfield Group, on
concern interest rates may rise in the world's biggest economy.
National Australia Bank Ltd. led declines among banks as bond
yields surged, making their dividends relatively less attractive.
``There's now strong odds global interest rates are on the
rise, which is the last thing equity markets need at the moment,''
said Gerard Minack, a strategist at Morgan Stanley in Sydney. ``If
rates go up that's going to choke up the support for equities.''
Read more at Bloomberg Stocks News
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