The yield on the Australian government 10-year bond hovered close to 3.8%, partly recovering from last week’s declines, as recession woes retreated slightly on the back of China’s gradual return to normal, Australia’s largest export destination. Still, the 6 basis point increase doesn’t offset last week’s 41 bps retreat, as investors remained cautious about the global economy outlook, waiting for new economic data to provide clues on whether the Reserve Bank of Australia will raise its cash rate to large extents, with retail sales data and the results of a private survey to manufacturers coming later in the week.
Historically, the Australia Government Bond 10Y reached an all time high of 16.50 in August of 1982. Australia Government Bond 10Y - data, forecasts, historical chart - was last updated on June of 2022.
The Australia Government Bond 10Y is expected to trade at 3.84 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 4.25 in 12 months time.