Australian shares are set to open higher

News Snapshot:

Australian shares are poised to rise, in line with a rebound in New York, as selling of US government securities eased and as megacap tech stocks mostly rallied. The yield on the US 10-year note was 5 basis points lower to 4.55 per cent in afternoon trading, though concerns about the US fiscal outlook persisted with the House of Representatives passing President Donald Trump’s tax bill – it passed by a single vote. The bill moves to the US Senate where it’s expected to meet several hurdles, though ultimately move forward. Republican Senators are keen to put their own imprint...