US EditionASX Breaks Winning Streak as Investors Await RBA Rate Cut
- The ASX 200 dropped 48.60 points to close at 8,295.10 on May 19, 2025, as investors awaited the Reserve Bank of Australia's rate decision in Sydney.
- Cautious investor sentiment arose from uncertainty about the RBA's likely rate cut and concerns over US bond markets affected by President Trump's new taxation bill.
- Nine of 11 ASX sectors closed lower, with major resource stocks like BHP and Fortescue declining while defensive stocks, including gold miners Capricorn Metals and Evolution Mining, outperformed.
- Moody's downgraded the US credit rating to Aa1, the last major agency to do so, prompting rises in US Treasury yields to 4.51% for 10-year bonds and 4.98% for 30-year bonds.
- The ASX's decline suggests vulnerability ahead of the RBA decision, with market analyst Tony Sycamore warning that without a rate cut, the ASX 200 could fall 100 points amid equity and rates market turmoil.
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Sydney Morning Herald+2 Reposted by 2 other sources
ASX breaks winning streak as investors await RBA rate cut
The Australian sharemarket closed lower on Monday as global investors reacted to Moody’s stripping the US of its top-notch credit rating and await confirmation of a rate cut.
·Sydney, Australia
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Coverage Details
Total News Sources19
Leaning Left4Leaning Right3Center0Last UpdatedBias Distribution57% Left
Bias Distribution
- 57% of the sources lean Left
57% Left
L 57%
R 43%
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