Business
Evans’ rate call saves $75m in record bond sale – The Australian Financial Review
Bill Evans has moved the bond market on a day the Australian government raised a record amount of debt, in what could be described as an accidental Team Australia moment.
The power of Bill
Mr Evans forecast the Reserve Bank would deliver a four-pronged rate cut on October 6 to back up a bold federal budget in a bold Team Australia moment.
The Westpac report hit the screens at 10.45 AEST prompting a sharp repricing across money markets and bond markets.
The three-year rate fell to 0.19 per cent, while the bank bill swap rate set at a record low of 0.08 per cent.
That means the market was pricing in the possibility that the Reserve Bank will lower the overnight…
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