Breaking the Three Percent Barrier
Tuesday 3rd May 2022US 10-year Treasury yields snuck over three percent overnight, albeit briefly. But NAB\u2019s Ray Attrill says this could be the psychological baseline that sees rates grow higher. The latest ISM showed a slowing growth in US manufacturing, the result of lockdowns in China, but the Fed is still expected to push ahead with a significant rise later this week. Before that, the RBA meets today and the expectation is that they\u2019ll raise rates by 15 basis points, but some see an argument to push them up to 0.5%. Also, today, a flash crash in Swedish equities.
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