Wednesday 4th October 2023

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Yesterday we asked how much higher US yields could go. The answer today is more than yesterday. Yields pushed higher again, the US dollar gained strength on the back of it, with the Aussie dollar, a day after the RBA kept rates on hold, being punished the most. So, how much higher for Treasury yields now. NAB’s Rodrigo Catril says its not unusual for the 10 year rate to reach the same level as the cash rate, so yields could easily push above 5%. How does the RBA react if stronger yields in the US keep hitting the Aussie dollar? Plus, the significant moves in the Yen today as well. All because the JOLTs data came in higher than expected.

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03 Oct 2023