Updated Jul 30, 2026 – 8.10am, first published at 3.31amGo to latestPinned post – 3.30AMBefore the Bell: US equities tumble anew, yields riseTimothy MooreAustralian shares are set to open lower as US equities tumbled late in New York’s trading day after US bond yields leapt higher, with the 30-year reaching a new 19-year high, amid worries about inflation. The Nasdaq 100 ended the day in correction territory.While Federal Reserve chairman Kevin Warsh recommitted to the Fed’s 2 per cent inflation target, investors were not as assured in part after President Donald Trump again inserted himself into the Fed’s business, saying that Warsh would love to lower rates.“Bond traders will stop panicking when the Fed starts panicking,” Wall Street veteran Jim Bianco said. “The Fed/Warsh did not panic today.”S&P/ASX 200 futures were down 51 points or 0.6 per cent to 8945, reversing an earlier gain of more than 30 points. The S&P 500 was 1.5 per cent lower at the closing bell in New York after having traded modestly higher an hour earlier. The Dow shed 2.2 per cent.The yield on the US 10-year rose 7 basis points to 4.68 per cent after having earlier traded at 4.61 per cent.Warsh said the US economy “is showing impressive resilience” and while inflation remains elevated relative to the 2 per cent target, policymakers were “resolute” in their effort to “deliver price stability”. Policymakers voted 9-3 to hold.Market highlightsASX 200 futures are pointing down 51 points or 0.6 per cent to 8945.All US prices near 5.20pm New York time (7.20am AEST).AUD -0.3% to US69.55¢Bitcoin -0.6% to $US63,424On Wall Street: Dow -2.2% S&P -1.5% Nasdaq -1.7%VIX +2.45 to 20.66Gold +0.9% to $US4067.03 an ounceBrent oil +7.8% to $US90.63 a barrelIron ore +0.01% to $US97.85 a tonne10-year yield: US 4.68% Australia 4.92%Today’s agendaResults expected on Thursday: Champion Iron, Mainfreight, Oceania Healthcare, PLS Group, Perseus Mining and Boss Energy.Sarah Hunter, Reserve Bank of Australia assistant governor (economic), will participate in a fireside chat at 8.40am (AEST) at the Barrenjoey 4th Annual Australia Economics Forum in Sydney.June building approvals data is due at 11.30am (AEST).Overseas, Bank of England policymakers are expected to vote to hold rates steady later on Thursday. A statement is expected at 9pm (AEST).The US is poised to release June core PCE stats and second-quarter GDP data.Top storiesNZ investor Morrison in $2b talks to ‘bring Optus home’ | Wellington-based infrastructure investor Morrison has secured a seven-week exclusivity period to finalise a proposal to acquire more than 30 per cent of Optus.KPMG will sack dozens of partners, 1000 staff amid audit scandal fallout | KPMG Australia plans to cut more than 10 per cent of its workforce in September as leadership works to stem the financial hit from its audit misconduct scandal.Hanson moves to wedge Coalition on national security with ISIS ban | The One Nation leader will seek to introduce legislation to make it easier to stop ISIS-connected people and convicted terrorists returning to Australia.‘Poor cousins at Christmas’: Victorian Labor on the nose with colleagues | From a federal Labor perspective, the worst outcome would have been an Allan-led Labor government still in power come the next federal election.Chanticleer: RBA won’t ignore inflation red flags. Neither should investors | Money markets have slashed the odds of further rate increases from the central bank, but there’s a big problem with that calculus.1 / 2