Business
Worst bond blood-bath since 1994 – The Australian Financial Review
A critical question is why Australians are being battered by interest rate movements more than anyone else, writes Christopher Joye.
The worry is that 10-year Australian government bond yields have been climbing faster than interest rates across other developed countries, which is putting further upward pressure on the Aussie dollar. On Thursday night it pierced US80¢ for the first time since February 2018.
This is being powered by a striking increase in the differential, or spread, between Australian and US 10-year government bond yields and buoyant iron ore prices.
When the RBA first started publicly discussing the possibility…
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