Shares bounce on peace deal hopes, rates expectations

Michael West Media · AAP · Thursday 21 May 2026

Shares bounce on peace deal hopes, rates expectations

A surprise uptick in employment has reduced the likelihood of a June interest rate hike, adding fuel to a local relief rally sparked by Iran peace deal hopes.

Shares went up because a war might end and a rate rise might not happen — the market's celebrating two things that haven't occurred. Fund managers price hope like it's a dividend, then act surprised when the world remembers it isn't.

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