Business
CPI keeps risk of bond market’s worst nightmare alive – The Australian Financial Review
A faster-than-expected jump in December quarter consumer price inflation has put the bond market on notice that inflation is set to pick up.
The 10-year Australian government bond yield ticked down to 1.08 per cent and the Australian dollar edged down to US77.38¢ after the data.
Some market economists had pencilled in a 0.9 per cent CPI result, although the data was more unpredictable than usual given the COVID-19 pandemic.
It was more difficult to forecast this time around, said GSFM strategist Stephen Miller. The variance around the forecasts was quite large.
The headline reading of 0.9 per cent contrasted with a trimmed mean rise…
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