Going bond crazy
Thursday 28th October 2021There have been sharp movements in bond yields, with front end yields rising and falls at the back end. NAB\u2019s Gavin Friend says it reflects expectations that rising inflation will force central banks to raise rates sooner. We saw a higher-than-expected rise in Australian inflation yesterday and 2 year yields rose sharply overnight. Guy Debelle is in front of senate estimates this morning \u2013 will he still be arguing the transitory line? Bonds were also impacted by the Bank of Canada, who were more hawkish than expected, and by Rishi Sunak\u2019s UK budget, which included forecasts suggesting a \xa350 billion drop in debt issuance next year. Tonight, the ECB meets and Q3 US GDP numbers are released.
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