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Dad’s Army’s Gotti warns today of a bond bear market:
This week we are receiving our first whiff of the dangers ahead for the Australian sharemarket.
…Back in February the Australian 10-year bond was selling at a yield of around 2.25 per cent. Yesterday the 10-year bonds were trading just under 2.6 per cent. Last night traders smashed them and the 10-year bond yield went to 2.7 per cent…That’s a very significant fall in bond prices in less than three months.
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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.
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