Aussie bond curve slaughtered

Thursday 29 July 2021

Stocks may be holding up as Australia sinks into an epic double-dip recession but the bond market is anything but calm. The bid is big and persistent:

The curve is being slaughtered:

And we’re outpacing offshore leads with negative spreads to the US across the curve

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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.