10 yr yield broken out of its april 2010 downtrend line and closed on its highs. Adds more impetus to the bull-story. Not sure exactly what this means but bonds were sold off or profit taking whatever you wish. If this continues - this new-found money will need to find a home if 4% interest on govt debt doesn't cut it.
As yields rise this diminishes the urge to hold 4% govt debt which is viewed as "safe". This money will flow to other asset classes - no idea to which one as it all happened today but with bond yields rising on the 10 yr note we may see money flowing into the equity markets specifically financials.
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Last
8,630.3 |
Change
59.900(0.70%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,570.4 | 8,632.8 | 8,570.4 |
| XJO (ASX) Chart |