Australia’s 10-year government bond yield fell below 5% on Thursday, extending declines for a third straight session and hitting a two-week low as softer labor market data reduced expectations of further rate hikes. Australia’s seasonally adjusted unemployment rate rose to 4.5% in April 2026, above both March’s reading and market expectations of 4.3%, and marking the highest jobless rate since November 2021. At the same time, employment unexpectedly dropped by 18,600 to 14.74 million, sharply missing forecasts for a 17,500 increase and posting the first monthly decline since November 2025. This led investors to pare back bets on further monetary tightening following the Reserve Bank of Australia’s three consecutive rate hikes. Reinforcing the dovish outlook, preliminary business activity data showed that manufacturing growth slowed, with the PMI easing to 50.3 in May from 51.3 in April, while the services PMI slipped into contraction territory at 47.7 from 50.7 previously.

The yield on Australia 10Y Bond Yield eased to 4.97% on May 21, 2026, marking a 0.11 percentage points decrease from the previous session. Over the past month, the yield has edged up by 0.01 points and is 0.50 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. Historically, the Australia 10-Year Government Bond Yield reached an all time high of 16.50 in August of 1982. Australia 10-Year Government Bond Yield - data, forecasts, historical chart - was last updated on May 21 of 2026.

The yield on Australia 10Y Bond Yield eased to 4.97% on May 21, 2026, marking a 0.11 percentage points decrease from the previous session. Over the past month, the yield has edged up by 0.01 points and is 0.50 points higher than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. The Australia 10-Year Government Bond Yield is expected to trade at 5.09 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 4.86 in 12 months time.



Bonds Yield Day Month Year Date
Australia 10Y 4.98 -0.108% 0.017% 0.506% May/21
Australia 52W 4.66 -0.059% 0.031% 1.138% May/21
Australia 20Y 5.38 -0.087% 0.042% 0.324% May/21
Australia 2Y 4.63 -0.087% 0.002% 1.209% May/21
Australia 30Y 5.44 -0.075% 0.062% 0.273% May/21
Australia 3Y 4.59 -0.108% -0.032% 1.099% May/21
Australia 5Y 4.66 -0.107% 0.016% 0.924% May/21
Australia 7Y 4.79 -0.105% -0.002% 0.691% May/21



Related Last Previous Unit Reference
Australia Inflation Rate 4.60 3.70 percent Mar 2026
Australia Interest Rate 4.35 4.10 percent May 2026
Australia Unemployment Rate 4.50 4.30 percent Apr 2026

Australia 10-Year Government Bond Yield
Generally, a government bond is issued by a national government and is denominated in the country`s own currency. Bonds issued by national governments in foreign currencies are normally referred to as sovereign bonds. The yield required by investors to loan funds to governments reflects inflation expectations and the likelihood that the debt will be repaid.
Actual Previous Highest Lowest Dates Unit Frequency
4.97 5.08 16.50 0.56 1969 - 2026 percent Daily

News Stream
Australia 10Y Yield Hits 2-Week Low
Australia’s 10-year government bond yield fell below 5% on Thursday, extending declines for a third straight session and hitting a two-week low as softer labor market data reduced expectations of further rate hikes. Australia’s seasonally adjusted unemployment rate rose to 4.5% in April 2026, above both March’s reading and market expectations of 4.3%, and marking the highest jobless rate since November 2021. At the same time, employment unexpectedly dropped by 18,600 to 14.74 million, sharply missing forecasts for a 17,500 increase and posting the first monthly decline since November 2025. This led investors to pare back bets on further monetary tightening following the Reserve Bank of Australia’s three consecutive rate hikes. Reinforcing the dovish outlook, preliminary business activity data showed that manufacturing growth slowed, with the PMI easing to 50.3 in May from 51.3 in April, while the services PMI slipped into contraction territory at 47.7 from 50.7 previously.
2026-05-21
Australia 10Y Yield Extends Fall
Australia’s 10-year government bond yield fell to around 5% on Wednesday, extending losses from the previous session and moving further away from a recent fifteen-year high, as the Reserve Bank of Australia’s latest minutes signaled a less hawkish policy outlook. The minutes from the May meeting showed the central bank now sees room to pause further rate hikes, while still emphasizing its commitment to preventing a rise in inflation expectations. Policymakers noted they are assessing the cumulative impact of three cash rate increases this year, alongside external risks such as the ongoing Middle East conflict. Market expectations have since shifted, with a senior economist at CBA saying investors increasingly expect the RBA to hold rates steady at its June meeting. Meanwhile, the Westpac–Melbourne Institute Consumer Sentiment Index rose 3.5% month-on-month in May to 83, rebounding from April’s 2½-year low of 80.1.
2026-05-19
Australia 10Y Bond Yield Hits 6-week High
Australia 10 Year Government Bond Yield increased to 5.10%, the highest since March 2026. Over the past 4 weeks, Australia 10Y Bond Yield gained 14.10 basis points, and in the last 12 months, it increased 64.10 basis points.
2026-05-15