Australian shares are set to open lower. Techs extend rebound, boosting Nasdaq. Bitcoin slides below $US26,500. Housing finance data pending.
Listed property trusts’ discounts to asset backing only got bigger in the past six months, despite write-downs. It suggests valuations need to fall further.AUD +0.2% to 64.85 US centsIn New York: BHP -0.2% Rio -0.1% Atlassian +1.6%Spot gold -0.02% to $US1941.86/oz at 2.27pm in New York10-year yield: US 4.08% Australia 4.02% Germany 2.46%Consumer spending, which accounts for more than two-thirds of US economic activity, increased 0.8 per cent last month.
Services spending increased 0.8 per cent, driven by portfolio management and investment advice services, housing and utilities, restaurants and healthcare.
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