Aussie bonds hit record low yields

Friday, 28 February 2020

The hilarious mispricing of everything continues. According to rates markets there is now a full 11% chance of an RBA cut next tuesday:

Are markets, the RBA or both really that stupid?

Despite this, the 10 year yield has sunk to all-time lows today:

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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.