More bond records tumble

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Aussie bonds are bid once more with a range of record low yields today, mostly at the short end and in the belly of the curve:

The short end has begun pricing another rate cut and the curve is still inverted out the six year. The long end has also rallied but there has been some curve steepening so no new records:

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Spreads the US have, I’d guess, more or less bottomed:

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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.