ASX to open higher; US bonds hit fresh 15-year highs

News Snapshot:

This week’s main economic event is Federal Reserve Chair Jerome Powell’s speech at Jackson Hole on Friday. The worry is that Powell will dash investors’ hopes that the Fed has already hiked interest rates for the final time and that its next move will be to cut rates early next year. The Fed has already pulled its main interest rate to its highest level since 2001 in an effort to grind down high inflation. High rates do that by slowing the entire economy bluntly and hurting prices for investments. For all the anticipation for Powell’s speech, he may not end...