Australian government bond yields just ripped higher

Australian government bond yields ripped higher this morning, for no obvious reason.

A move started just before 9am this morning, with the yield on the benchmark 10-year bond popping from around 2.68% to 2.73%. (Yields rise as bond prices fall.)

Here’s the chart showing the overnight trade into this morning, via

This shows the pop in the yield compared to the trading range over recent weeks:

The 2-year bond yield also rose slightly to 1.91%, the highest in over a month.

Global bonds are also slightly higher this morning, with the US 10-Year Treasury at 2.15% but within its recent range.

The main economic event this morning was treasurer Scott Morrison speaking at Bloomberg in Sydney, where he gave a speech followed by a Q&A.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at