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1.Market Observations, 8.Was Sticky

7 Aug 2019 (AFR) – ‘Momentous day’ as Aussie 10-year bond yield drops below 1pc

(7 August 2019, AFR, p13, Patrick Commins, Vesna Poljak and Jonathan Shapiro)

Comparative performance (Bloomberg, AFR)

Comparative performance (Bloomberg, AFR)

‘Australian 10-year government bond rates dropped below 1 per cent for the first time as the intensification of the US-China trade war rippled through global markets, casting doubts over growth. On Tuesday the 10-year rate fell as low as 0.968 per cent from 1.085 per cent at its previous close as traders rushed to safe-haven assets. That pushed the 10-year rate below the central bank’s official cash rate target of 1 per cent.’

Read more at AFR.com (might need AFR log in access, or try: AFR.com/trial)

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