ASX 200 rises as ASIC reports surge in financial misconduct, global bond yields climb amid Trump and Iran tensions

The ASX 200 is now trading higher, up +0.1% to 8,988 points.

Of the stocks, 88 are in the red, 9 are unchanged, and 103 are gaining.

Here are the top movers, with Block, Inc up +4.8%.

Here are the bottom movers, with Electro Optic Systems down -4.5%.

The Aussie dollar is trading above 71 US cents.

During the first half of this year the Australian Securities and Investments Commission (ASIC) received 9,807 reports of misconduct across Australia's financial systems.

Retail investor issues and governance matters dominated public reports to ASIC, accounting for more than four in five.

"The data ASIC receives provides critical insights into the trending issues facing consumers and businesses, helping to inform our enforcement priorities. We continue to welcome tip-offs from the public," says ASIC chair Sarah Court.

ASIC recorded 170 reports that directly assisted existing surveillance or investigation matters, while 351 reports raised issues that were linked to other reports.

ASIC said scams accounted for nearly one in five reports, and that pump-and-dump scams (artificially inflating a stock's price) are becoming increasingly sophisticated, using fake celebrity endorsements which cause substantial harm to Australian investors.

Other matters progressed for further action include:

Creditor-defeating dispositions in companies being wound up

Allegations of whistleblower victimisation

Failures to obtain a director identification number

Common concerns such as unlicensed financial services, governance failures, insolvency concerns and failures to provide company books and records to liquidators

"ASIC encourages members of the public to continue reporting suspected misconduct to help identify patterns and trends," Ms Court says.

"Reports from the public remain a vital source of intelligence for ASIC that help us identify consumer harm and to target resources where they will have the greatest deterrence and consumer benefit."

Reports of misconduct and tip-offs can be made online on this ASIC page.

Business reporter Nassim Khadem has been following the KPMG saga closely, reporting today that a KPMG whistleblower says the Australian Securities and Investments Commission (ASIC) has to be "dragged kicking and screaming" to investigate alleged misconduct disclosures at the accounting firm.

ASIC will appear before a parliamentary inquiry tomorrow and is expected to face questions about how it responded to whistleblower reports.

You can read the full report below:

AMP head of investment strategy and chief economist Shane Oliver says the spike in global bond yields shows what bond markets think of the Trump administration's management of the US economy.

"It's quite possible, if we didn't have Donald Trump, America would be looking at lower interest rates and bond yields would not be where they are right now," he told The Business's Kirsten Aiken.

"US bond yields have been rising, and that's partly because of concerns about excessive public debt and budget deficit in the US.

"There's concern that US borrowing by US companies to build out data centres is also taking money away from the bond market, pushing yields up."

Mr Oliver says the escalation of conflict between the US and Iran is contributing to global economic uncertainty as the price of oil rises and a potential US rate hike looms.

"The problem is that as US bond yields go up, they're the base safe haven currency … [they set] the base for our bond yields," he said.

"So when bond yields go up in the US they're pushed up globally."

Yesterday we saw local bond yields increase to about a 15-year high above +5%.

You can catch up on the full interview below:

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Watch The Business, Mondays to Thursdays 8:44pm on ABC News Channel, after the Late News on ABC TV, and anytime on ABC iview.

It's decision day for property developer Bathla Group as its voluntary administrators continue to try to secure a short-term funding package.

Bathla's administration has left the fate of 200 building projects across NSW in jeopardy, with about 2,000 homes under construction and another 13,000 in its development pipeline.

Some of Bathla's 350 staff have not been paid for eight weeks while the developer has accumulated debts exceeding $3.2 billion.

Also on the agenda today in Canberra is the housing inequity hearing, which will feature testimony from CBA, NAB, Westpac, ANZ and RBA.

We will keep you updated as the day progresses.

The economy grew faster than expected in the June quarter, as yesterday's GDP results saw spending increase by +0.4%.

But Aussies are feeling the pinch, struggling with everyday purchases like fuel and coffee.

The increase was driven by record hybrid and electric vehicle sales, up +10.3% for the quarter.

Business correspondent David Taylor broke down the data in last night's story:

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The major exchanges across Wall Street closed higher overnight. Let's take a closer look.

The S & P 500 closed up +0.5% to 7,667 points, with all major sectors closing higher except for Real Estate.

Of the top movers, Dell Technologies Inc finished up +15.8%.

Of the bottom movers, Palo Alto Networks finished down -9.3%.

Turning to the Dow Jones Industrial Average, which finished up +0.6% to 53,062 points. All major sectors finished higher.

Of the top movers, NVIDIA finished up +3.2%.

Of the bottom movers, Honeywell International finished down -1.9%.

Finally, the Nasdaq Composite finished up +0.2% to 92,143 points.

Of the top movers, Alnylam Pharmaceuticals finished up +8.7%.

Of the bottom movers, Palo Alto Networks once again finished down the bottom, down -9.3%.

Good morning everyone and happy Thursday!

Business reporter Adelaide Miller here to guide you through the morning on the markets blog, where we cover the latest business, finance and economic news from across the globe.

After a sea of red yesterday, Wall Street bounced back overnight with all major exchanges closing higher. We'll provide a breakdown shortly.

The ASX is expected to follow suit, with Futures pointing up +0.4% to 8,979 points.

The Aussie dollar is hovering around 71.67 US cents.

But for now, grab yourself a coffee, tea or juice and see you back here soon!

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