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The Aussie bond selloff is still going great guns this morning with yields breaking out to new highs across the curve:
Unlike the US, the curve is still steepening here too as the bulk bubble persists:
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With the two year at 1.89bps it is now tilting towards two rates hikes through 2018 now. More selling ahead yet it seems.
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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.