Australian banks Australian interest rates

The final folly. Rates and banks roar towards recession

Tuesday, 15 March 2022

In 2020, we saw a blowoff in stimulus. In 2021, we saw a blowoff in growth and equities. So far in 2022, we have seen a blowoff in inflation and commodities.

Now we are seeing a blowoff in interest rates and bond yields:

Banking funding costs have started to spike too:

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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.