‘Mayhem’ In Aussie Rates As YCC Breaks
Yield-curve control snapped in Australia Thursday.
I'm insistent on the notion that it's never a matter of capacity, but a matter of will when it comes to central banks and yields. To the extent the bond vigilantes of yore still exist out there somewhere -- nomads roaming the badlands after being banished from walled-off metropolises decades ago -- periodic attacks on the cities amount to aiming slingshots with rocks at turrets manned by soldiers with machine guns. In the era of central bank do
This while the US 10-year is off 15 bps since last Thursday. The long end is getting wise to the policy mistake that is about to happen.
ANZ, NAB, CBA all lifting off . . . warms a XLF investor’s heart?