Aussie bond rocket passes Betelgeuse

David Llewellyn-Smith

Thursday 20 June 2019

On and on it goes, at all news highs again:

And still there is no curve steepening. Indeed the belly of the curve inverted more deeply than any time in this cycle:

We could not outdo US bonds and the spread narrowed:

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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.