The yield on the Australian 10-year government bond eased to the 3.7% level, hovering around its lowest in nearly three weeks and tracking worldwide yields as recession fears led investors to seek safety in government bonds. Meanwhile, record-high turnover in domestic retail sales for the month of May strengthened the RBA’s confidence that the Australian economy can tolerate higher interest rates. The central bank is expected to continue raising its cash rate in July, after delivering its sharpest rate hike in 22 years in June.
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 July of 2022.
The Australia Government Bond 10Y is expected to trade at 3.97 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.