US yields push higher, BoJ steps in, RBA to stand firm
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Tuesday 3rd October 2023
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US bond yields have pushed higher this morning on the weekend\\u2019s news that a shutdown of US government has been pushed back, but the same yawning chasm exists between both parties. Yields have also risen on the latest Manufacturing ISM, which came in stronger than expected. NAB\\u2019s Skye Masters says we are seeing a strong response to any data, as markets look for clues about when rates will be lifted, and how long before they start moving down. Another case in point is today\\u2019s rise in UK Gilt yields, as the BoE\\u2019s Catherine Mann suggests inflation might be more persistent than their own forecasts. Today Michelle Bullock chairs her first RBA meeting, but there is a low expectation that rates will rise \\u2013 not yet anyway.
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