Business
Financial castles built on sand – The Australian Financial Review
Investors have long used the US 10-year bond yield as the benchmark for pricing all financial assets, including shares and property. But what happens when they…
And the recovery will be given a further boost as a result of US President Joe Bidens $US1.9 trillion ($2.5 trillion) economic stimulus plan, which has now passed the US Senate.
The problem is that the US 10-year bond is viewed as the global risk-free asset. And that means that its yield is considered the benchmark when it comes to setting the price of all other financial assets.
Thats why investors are keeping such a nervous watch on the US bond market at present.
A significant rise in US 10-year…
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