government bonds

I read govt bonds spiked 60 basis points in three trading sessions.I guess that's due to commodity price falls.

So i would have thought if that continues it will flow through to what banks have to pay as in overseas perception of the australian commodity economy resulting in interest rates rising?

As i'm negative australian economic outlook its like a vicious circle.

If above is correct then GM closing their production followed by toyota forced to close,whether you support the industry or not i believe most on this forum would go cross eyed as the dominoes started to fall spreading out from auto manufacturers to car part suppliers to factories that need the auto industry to subsidise their other sector customers to R&D institutions,service industries etc etc.

The timing could not be worse.

GM could not be more honest,they have given australia the choice if we want a auto industry,first competitive IR's,then competitive energy etc etc.

ps i would like to know if i'm correct on the govt/corporate bonds or could RBA intervene ,but even if they drop their cash rate from 2.75% it doesn't control foreign money?