Markets are becoming increasingly more jittery towards the risks from COVID, both in NSW and overseas. Australian 10-year bond yields have already slipped 30% from their late February high – suddenly the jury is out around the impact of new COVID variants on the speed of the global economic recovery. Perhaps the RBA is right after all and rates aren’t going higher until 2024, just as the NAB forecast yesterday, with COVID circulating in society this is obviously real crystal ball stuff but it could potentially provide some excellent opportunities when too many fund managers get caught backing the same horse.
MM is looking to buy current weakness in bond yields
