ASX set to slump as bond market pressure rattles Wall Street; Oil prices jump

AI Summary

The Australian Securities Exchange (ASX) is expected to decline as bond market pressures in the US have rattled Wall Street. Concurrently, oil prices have risen, ending a prior slide, amid concerns about inflation sparked by a strong US economic report.

Pressure from the US bond market hit a new level on Wall Street after a surprisingly strong report on the economy raised worries about inflation, while oil prices halted their slide.