Australian 10-year bonds have also treaded water for around three years and they currently sit in the middle of the relatively large 3-5% trading range. Our preferred scenario is that we will see the local 10s again, test 3% in the coming year (s), but there’s currently no obvious catalyst for a rapid descent.
- We believe the RBA will cut rates two or three more times in 2025 following recent dovish comments by Michele Bullock.
MM remains cautiously bullish about Australian 10-Year Bonds (yields lower)
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