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 investing.com:
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.