Australian 10-Year Bond Yield Hits 15-Year High
· World · Bloomberg, ABC News (AU)
Australia's benchmark 10-year bond yield surged to 5.19%, the highest since July 2011. The yield on three-year notes also jumped to 4.73%. The increase comes amid a global selloff and speculation that the Reserve Bank of Australia may raise interest rates again soon. The Reserve Bank of Australia has not yet commented on the possibility of another rate hike. The exact cause of the selloff remains unclear.
Why it matters
Investors in Australian bonds face higher yields, which may affect borrowing costs for businesses and consumers. The Reserve Bank of Australia's next move on interest rates will be closely watched by global markets.
Read the original report — Bloomberg
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