Australia's share market has started the new week higher, as BHP and the materials sector hit record highs, while banks and insurers sold off.
The S&P/ASX200 gained 44.2 points on Monday, up 0.49 per cent, to 9,103.1, as the broader All Ordinaries rose 47 points, or 0.5 per cent, to 9,316.7.
Money continued to rotate from banking stocks into miners as local economic concerns combined with rising commodity prices and outsized resource sector earnings.
BHP shares soared three per cent to hit an all-time high of $67.72, helping the resources sector reach its own fresh peak.
"Overall, the chase for the mining stocks - driven by pretty good earnings from BHP, Rio, Mineral Resources - is now being heightened by what happened at the end of last week in terms of US treasury and the (bond) buyback," IG market analyst Tony Sycamore told AAP.
"For the resource sector the path of least resistance is likely higher," Mr Sycamore said.
Energy miners also rallied, with coal and uranium producers ticking higher, while Santos and Woodside lost ground after oil prices shaved some of the previous week's gains.
Oil prices have started the week slightly lower, as traders await an overnight announcement on planned US sanctions on Iran and potentially its trading partners.
Precious metals and Bitcoin have also appreciated, as record US government debt and bond buyback plans reignited the "sell America" trade.
Gold is at 15-week highs near $US4,646, ($A8,404) an ounce, rallying more than 16 per cent from July lows, and analysts say the debasement trade could send it higher.
"This means a rotation toward scarce, hard-to-print assets such as gold, Bitcoin and real assets, on the view that persistent fiscal deficits and accommodative policy will erode the purchasing power of fiat currencies over time," Global X ETFs investment strategist Justin Lim said.
"We believe (gold) could reach $US5,000 ($A7,000) by mid-September."
Earnings season continued, with strong performance beats from lithium miner PLS (+7.9 per cent), Ampol (+4.3 per cent) and Adore Beauty (+19.3 per cent).
Less impressive were Aussie Broadband, NIB and Dan Murphy's owner Endeavour, which each tumbled between four and nine per cent following their financial updates.
Looking ahead, Viva, Woodside and Coles will report on Tuesday, followed by Tabcorp, Sandfire Resources, Nine, Woolworths and Droneshield the day after.
On the macroeconomic front, analysts are tipping a drop in July headline inflation figures due Wednesday, but all eyes will be on the Reserve Bank's preferred trimmed mean measure for hints on what's ahead for borrowing costs.
The Australian dollar is buying 71.69 US cents, up from 71.46 US cents on Friday at 5pm AEST.
ON THE ASX:
* The S&P/ASX200 jumped 44.2 points, or 0.49 per cent, to 9,103.1
* The broader All Ordinaries gained 47 points, or 0.51 per cent, to 9,316.7
One Australian dollar trades for:
* 71.69 US cents, from 71.46 US cents at 5pm AEST on Friday
* 113.99 Japanese yen, from 113.56 Japanese yen
* 61.39 euro cents, from 61.09 euro cents
* 52.55 British pence, from 52.35 pence
* 120.00 NZ cents, from 119.68 NZ cents
